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Present Bee!
 

Present Bee!

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This was our final presentation for the Northwestern University Venture Challenge Competition

This was our final presentation for the Northwestern University Venture Challenge Competition

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  • we’re witnessing an evolution of the web: it’s growing up! At 17 years old, it’s hitting its social strideThis will change consumers’ shopping behavior

Present Bee! Present Bee! Presentation Transcript

  • www.presentbee.com
  • Gifting is all around us
    $3.2 Billion
    In Annual Online Gift Purchases
  • No one likes to give bad gifts…but it happens frequently
    Are you serious?
  • Christmas
    64,548
    150,000+
    Gifting Questions posed
    Birthday
    47,398
    Wedding
    16,173
    Valentine’s Day
    13,690
    Anniversary
    9,938
    Mother’s Day
    7,264
    Baby shower
    4,403
    Father’s Day
    Graduation
    4,385
    4,171
    Easter
    House warming
    Halloween
    Baptism
    1,030
    734
    687
    Bat-Mitzvah
    625
    365
    Annual Celebration
    Holidays
    Special Events
    4
  • Present Bee is revolutionizing the gift giving
    process by making it simple, social and fun
    Goal: Help you give better gifts with less stress and more social proof
  • The Gift Giving Process
    Idea Generation
    Selection
    Purchase
    1
    2
    3
  • Present Bee powerfully combines:
    Group Gifting
    Gifting Advice
    from Social Networks
    Intelligent Gift Suggestions
    3
    2
    1
  • 2 days away
    5 days away
    6 days away
    7 days away
  • 2 days away
    5 days away
    6 days away
    7 days away
  • anielle
    d
    2 days away
    5 days away
    6 days away
    7 days away
  • 2 days away
    5 days away
    6 days away
    7 days away
  • Buy
    Buy
    Buy
    Like
    Dislike
    Like Dislike
    Like Dislike
    Buy
    Buy
    Buy
    Like Dislike
    Like
    Like Dislike
    Dislike
  • << Back >> More ideas
    Buy
    Buy
    Buy
    Like
    Dislike
    Like Dislike
    Dislike
    Like
    Buy
    Buy
    Buy
    Like Dislike
    Like
    Like Dislike
    Dislike
  • +1
    Like
    Dislike
    Like Dislike
    Like Dislike
    Like Dislike
    Go
    Like Dislike
    Like Dislike
    Like Dislike
  • +4
    Buy
    Like
    Buy
    Dislike
    or
    Buy with Friends
    +3
    Like
    Dislike
  • Kindle Wireless Reading Device
    Invite Friends
    Search for a friend
    Hey if we all chip in $20 we
    can get Danielle a Kindle!
    Let’s do it!
    Go
    Zach Ciszonx
    Jeff Eidenx
    Adam Mallingerx
    Hugo Forte x
    Danielle T. x
    Steve Hoffman x
  • Chip In
    $60 / $139.99
  • Write a comment…
    Amount Chipped in
    Chip In
    $60 / $139.99
    $10.00
    Name
    Who’s Invited
    Participants
    Ask Friends
    Address
    Card #
    Card Type
    Chip in!
    $10.00
    $10.00
    $10.00
    $10.00
    You will not be charged unless $139.99 is raised
    $20.00
  • Chip In
    Success! Item shipped
  • Gift Reminder and Suggestion Emails
  • Upcoming Gifting Event Email Notifications
  • Social Commerce is Exploding in Growth
    Source: Booz and Co., 2011
  • The market is experimenting with social gifting, but no comprehensive solutions currently exists
    Idea Generation
    Selection
    Purchase
    1
    2
    3
  • A Typical Present Bee User
    Laura and her friends are extremely active in:
    Sharing Online via Social Media
    1
    Gift Giving
    2
    Laura Brown
    Online Shopping
    3
    • 26 years old
    • Advertising Executive
    • Uses the Internet to manage her personal life
  • Customer Acquisition
  • How Will We Generate Revenue?
  • Current Customer Acquisition Cost
    Mid-term Life time value of User
    Cost per user: $.331
    Total revenue per user per year: $2.03
  • Future Customer Acquisition Cost
    Future Life time value of User
    Cost per user: $.149
    Total revenue per user per year: $3.57
  • Team
    Jeffrey Eiden- President, Present Bee. Intern at Early Stage Venture Partners.
    Chris Sell- Frontend developer/ UI Lead. Founder of EccoLiving.com. Grew cumulative sales of $30,000 in 2 years.
    Stefan Birrer- CTO, PhD, Northwestern University in peer to peer computing. Founded Dosensio, Inc. and Neokast LLC.
    Hugo Forte– Former senior engineer at Echo Logistics and Media Bank. Former developer at Neokast LLC and current lead developer at Ubid.com
    Paul Olczak- Ph.D – Electrical Engineering and Computer Science, machine learning specialty.
  • Present Bee Advisory Board
    Mike Marasco
    President of Northwestern’s
    Farley Center of Entrepreneurship
    Brad Morehead
    Cofounder of Wildcat Angels
    Steve Olechowski
    CoFounder of Feedburner
    Doug VanDerMolen
    Lead UX for Google Analytics
  • Moving Forward
    Improving Gift Suggestions
    Group Payment
    Retail Partnerships
  • Questions?
  • The Evolution of Present Bee
  • Target Market
    Empowered Women give about 17 gifts per year, with close to 45% being bought online. The tables below show data from an internal survey of one hundred women between the ages of 25-50:
  • Target Market
    Empowered Women are Influencers and Share Online more than other online adults. Considering their frequent gifting behavior, these women are an ideal subgroup to use and recommend Present Bee
    Source: Forrester Reports
  • Customer Retention
    Current Stats:
    Returning Users: 23%
    Active weekly Users: 12.6%
    Customer Retention Goal:
    Increase weekly active users to 50%.
    Actions:
    Update emails for upcoming birthdays, holidays, times of celebration: current 3.6% re-engagement weekly.
    • Goal: Raise re-engagement 15% week with smarter and more frequent updates.
    Notification emails for activity on site.
    • Goal: Raise re-engagement 25% weekly with notifications of activity.
    Create Group Gifting functionality.
    • Goal: Raise re-engagement 10% weekly through group gift invites.
    Ad Retargeting
    • Goal: Raise re-engagement 2% weekly and brand recognition amongst current users. $.936 per user per year.
  • Facebook Usage by Age/Gender
  • Data
    Data on the hottest gifts by demographic up to 3 weeks before holiday season.
    Value to retailers:
    Allocate online ad spend smarter.
    Advertise hot gifts and associate them with a brand.
    Change ad spend to networks with demographics discussing their products.
    In store management
    Alter in store displays to highlight popular gifts by section.
    Increase stock of popular gifts if possible.
  • Retailers
    H & M
    Forever 21
    Nordstrom
    Sephora
    Louis Vuitton
    Crate and Barrel
  • << Back to Danielles’sBuzzlist
    1 item added to Danielle Tenenbaum’sBuzzlist
    Mixing Bowls
    $36.95
    Champagne Flutes
    $19.99
    Wine Glasses
    $11.95 each
    Cayenne Umbrella
    $295.99
    d
    Personalized Gift Ideas from Crate and Barrel for…
    Danielle Tenenabaum
    Jen thinks Danielle would like:
    Glass Containers
    $79.99
    x
    You added the Espresso Machine to
    Danielle Tenenbaum’sBuzzlist.
    Katy thinks Danielle would like:
    Espresso Machine
    $299.95
    Bamboo Bread Box
    $39.95
    Artesia Tray
    $29.95
    Tea Pot
    $36.95
    Wine Opener Set
    $49.99
    Like Dislike
    Like Dislike
    Like Dislike
    Like Dislike
    +10 honey points
    Cancel
    Bridget thinks Danielle would like:
    Coffee Maker
    $89.99
    Woven Basket
    $59.99
    Metallic Leaf
    $19.95
    Travel Sudoku
    $14.95
    Agave Centerpiece
    $69.95
    Like Dislike
    Like Dislike
    Like Dislike
    Like Dislike
    More
  • Let’s Gift It API
    Present Bee passes product info to LetsGiftIt
    Present Bee user is taken to LetsGiftIt Group Gift page for selected item from Buzzlist
    User invites mutual friends/family members
  • Hunch API
    Send interests of Present Bee users to Hunch server.
    Receive product recommendations by category in json from Hunch’s algorithm.
  • Making Smarter Recommendations
    Top 100 Facebook Interests
    Relevant Amazon Browse Nodes
  • User Growth
  • Financials
  • Initial Success
    1,132 users, 700+ active this month thus far
    30 purchases ($20 average)
    27,000 + page views since launching the site
    Average user visits 3+ buzzlists on first visit
    12.5% signup rate