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Squared Online Project - We're Going to Make Millions - Team Nightingales
 

Squared Online Project - We're Going to Make Millions - Team Nightingales

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Team Nightingale's We're Going to Make Millions project. A business pitch for homemadehome.com - a DIY and crafts platform that enables users to do projects in their own time with the added benefit of ...

Team Nightingale's We're Going to Make Millions project. A business pitch for homemadehome.com - a DIY and crafts platform that enables users to do projects in their own time with the added benefit of 2-way interaction with tutors.

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    Squared Online Project - We're Going to Make Millions - Team Nightingales Squared Online Project - We're Going to Make Millions - Team Nightingales Presentation Transcript

    • homemadehome.com How to make stuff.
    • The idea
    • A community built on a platform where people learn and teach others how to make stuff.
    • On the platform online tutorials, courses and 1-2-1 sessions between tutors & users are facilitated.
    • ‘Teachers’ earn money for their knowledge, ideas & assistance and build a reputation as an expert in their field through ‘user’ reviews.
    • ‘Users’ find a wealth of ‘how-to’ content & courses (some free, some paid), but also have the opportunity to pay for specialist 1-2-1 advice specific to the task they are planning to undertake.
    • Home Made Home is a DIY & Craft community for people who love where they live Everyone should have a happy, beautiful home. With the right tools and knowhow, every person can create a place that fits their personality Home Made Home helps you bring out the best in you home by putting you in touch 1 on 1 with experienced likeminded professionals What we believe in:
    • Market opportunity
    • Worldwide a trend is rising known as ‘maker culture’
    • Our aim is the UK market: a DIY multiples market worth over £7bn. And a crafts sector of £4.4bn (which is equal to the size to the British petrochemical industry).
    • “The preference for smaller scale, lower cost home improvement projects such as decorating; upgrading home furnishings and garden projects are expected to remain popular … Consumers are likely to undertake DIY tasks themselves rather than ‘Get Someone In’. This will continue to benefit the DIY companies and particularly those with a greater emphasis on the consumer, rather than the trade.” source: AMA Research DIY Multiples Market UK 2010- 2014
    • It’s win-win situation. With a stagnated housing market the trend moves to DIY; improve don’t move. As the housing picks up more people will be taking on properties in need of renovation.
    • Etsy.com, an online marketplace for handmade items sold $62.8 million of goods in March 2013 alone. Folksy, which launched in 2008 and focuses exclusively on UK designers and makers, says sales increased by 526% from June 2009 to June 2012.
    • Competitive environment
    • Of course we have to consider these alternatives: 1) Get the man in – use an actual contractor. 2) Buy it ready-made. However, our market research shows that DIY and crafts are the increasingly popular choice.
    • Offline there’s also competition from In-Store Courses (B&Q charging £10 for 2-4hr face to face training / workshop). As well as books and how-to guides.
    • Online content, such as tutorials found on Youtube or sites like makerzine.com, are a free alternative to the content on our platform. These videos and websites do not, however, offer the tools, advice and tutoring that empowers our users to undertake the DIY / crafts project of their choice with confidence.
    • Some platforms exist where teachers can create and offer courses and tutorials. Such as skillshare.com and craftsy.com We differentiate from it by aiming on the UK market and its specific cultural demands. With a focus on DIY and crafts and by offering 1-2-1 tutoring.
    • Target Customers
    • Toby, DIY expert ABC1 25-55 years old married
    • Michelle, crafts enthusiast ABC1 25-55 years old married
    • Craft DIY The need Both sick of trailing irrelevant blogs Require a one stop searchable community Homemadehome Connect 1:1 with DIY & crafts experts
    • The Platform
    • A preview of what the platform May look like for desktop.
    • And for mobile, so you can learn on the go.
    • HMH’s Learning Management System
    • Our learning management system (LMS) will be built in HTML5 to allow for easy integration of video content across all devices – a key factor when you’re trying to replicate what’s being explained or demonstrated to you.
    • For clinics and 1-2-1 sessions an iframe will be embedded into the site allowing users to interact with their teacher using our video-conferencing platform of choice (GoToMeeting for example).
    • Mobile users shouldn’t have a problem streaming pre-recorded tutorials and for clinics and 1-2-1 sessions they will be directed to the AppStore or Play Store where they will be prompted to download the native app.
    • In order to enable better quality viewing of recordings and tackle file-size and bandwidth issues, files will be compressed and stored on the cloud. Shortcuts to content already paid for will be provided and can be saved locally.
    • Use of the cloud hosting keeps site running costs to a minimum. The use of a third-party video- conferencing platform such as GoToMeeting provides an affordable platform for interactive sessions plus 24/7 technical support.
    • Marketing & Sales
    • Celebrity Endorsement Affiliating a celebrity to our brand would really propel us to another level. Average cost depends on the celebrity and what exactly we would want them to do for the brand. PR activity PR activity when the site launches can contribute to driving visits to the site. We can also look into press releases, and targeted e-newsletters to reach a target group Craft press titles These would be great to reach craft and DIY fans. We could utilise relevant environments and adjust copy to appeal to different audiences. Average full page cost - £700 Offline promotional opportunities
    • Online advertising Display activity - behavioural targeted to DIY and craft enthusiast PPC campaign targeting long tail keyword terms related to DIY and crafts Secured customer Once customer data has been captured emails are sent regarding the latest courses and discounts Referral scheme – credits that can be redeemed against classes for any friends referred to Home Made Home by a current customer
    • Highlight major influencers in the DIY and Craft blogosphere, using Hootsuite & Buzzstream Teaching focus: approach blogs and encourage them to earn extra revenue by sharing their knowledge on our platform Influence focus: provide bloggers with free access to our community in return for articles, banners and reviews on their site. Blogger outreach
    • Facebook • Content focused on users posting their craft products and DIY fixes • Competitions where the user is rewarded with community credits for the best project Twitter • Top tips from our teachers • Use of pictures and vine content Pinterest • Craft boards focused on how homemade items have been used in the home • DIY boards focus on before and after pics Social media
    • A crowdsourced event to turn a run down dilapidated house into a home that anyone would love to live in. Utilise our social media channels to raise awareness of a 24 hour craft and DIY event. Members post ideas to a Pinterest board to enter. We then select 100 of the best member ideas to attend 3 hour slots to improve the house. YouTube channel, Facebook, Twitter and Pinterest updates. After 24 hours the house is valued house and put on the market. All profit from the sale is given to charity. Crowdsourced PR Event
    • Revenue model
    • We will explain the revenue model by taking some steps through the customer journey, starting with someone who wants to teach.
    • Register Registration is free, no monthly fees (encourages network growth)
    • Build your profile What services do you offer? When are you generally available to teach? What content do you want to upload / create?
    • Pricing Name your price for the skill(s) you want to sell. Guideline prices are suggested, (benchmarked against similar content providers to create a competitive marketplace).
    • Commission structure Initially we will take 15% of any sales, user pays the price they see. Average course cost = £40 (no limit on number of students). 1-2-1 session cost = £10, for up to 20 min.
    • Feedback User leaves feedback at the end of the session which is posted to the teacher’s profile Commission rate drops as low as 10% as star rating for the teacher increases (we reward great teachers).
    • Additional revenue streams Affiliate activity / Cross sell – packaging up the tools & materials required for the course will also drive revenues via commissions of 3-5%. Consultancy for teachers to help self promotion, drive up student uptake, improve their profiles for a reasonably low price (better content = more students).)
    • Why invest in this?
    • • Traditionally offline classroom environment: there is currently no country-wide coverage of classroom tuition as most courses are offered in larger urban areas only • Only site in the UK that offers 1-2-1 online tuition for DIY and crafts. • Growing community of DIY’ers and Crafters in the UK.
    • DIY is a very large area of mistrust with an initial feeling of ‘how much should this really cost?’ mentality. HMH allows the consumer to do one of three things: •Gain confidence and know-how on how to do project themselves •Gain knowledge around the project to make a more informed offline decision (remove the ‘Fear of the Unknown’ element to hiring contractors) •Use the HMH to find a contractor in their area, and use the HMH rating system to ensure the contractor is well referred and reputable.
    • Thanks for your time!