Venture lab 2012 - 5leads standford - Testing Value Proposition review


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Venture lab 2012 - 5leads standford - Testing Value Proposition review your universal contact page

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Venture lab 2012 - 5leads standford - Testing Value Proposition review

  1. 1. www.5leads.comYour Universal Open Contact page
  2. 2. What is 5leads.com5leads in one line is you your universal contact pagewe believe that a consumer being a paid customershould be able to find the right service provider in amuch easier and efficient way than how currentlyits done, we want to be one step connectionbetween consumers world wide with the serviceproviderswe want 5leads to be a global contact page, whereany consumer can post what he is looking for anywhere in the world and let service providers pitchwhy he should choose that service provider , youcan view the demo at
  3. 3. Example 5leads works in a way like, for example lets say a consumer is looking for a card board manufacturer who can deliver multicolor four-color printing,90 lb card board boxes , instead of searching millions of pages and making hundreds of calls, he just posts the clear requirement in under 30 seconds at 5leads.com5leads uses its matching engine to search world wide web and send notifications to cardboard manufactures across the world, then manufactures who are only available and who can deliver such kind of products will reach the consumer via , 5leads platform will provide all means of interaction between consumer and service provider, so that its documented and in the end consumer can choose from available service providers
  4. 4. Pictorial Representation Step 1 Step 2 Followed…..
  5. 5. Pictorial Representation - Followed Step 3 Step 4
  6. 6. Hypothesiswe wanted to position as a universal opencontact page where a consumer can say what he is lookingfor and service providers who can provide that service pitchthe customer why he needs to choose him, this reduces theproblems of making multiple calls, not reaching right serviceproviders , repeat the same details over and over and stillnot sure if consumer reached the right service provider andif he can trust the service providerwe believe as a paying customer the communication andchoosing the service provider process can be much moresmooth than how it is currentlyAlso for Service providers , currently their contact pages arehidden, there is no easy way for service providers to reachconsumers who need their service, we want to provide away for them to reach consumers at the point of sale
  7. 7. Experiments We have created a Consumer Survey and Service Provider survey to understand the problems of consumers and service providers, below are the linksConsumer Survey link : Provider Link:
  8. 8. What we tried to analyze From Consumer Point of view we tried toanalyze is it a service that is needed or good tohave, also we wanted to understand whatcategories different people will use, key factorsthey look at when using such a service & From Service Providers point of view we wantedto understand, is such a service needed ? are theywilling to pay for such a service ? problems theyhave , key features they need and how we canmake them use our application to be more than asimple profile page
  9. 9. Results Below are the survey results links :Consumer response graphic view Survey Response &Service Provider response Graphic View Provider survey response
  10. 10. Results AnalysisThe results have been a great learning experience for us, welearnedFrom Consumers that such a service will be of greatimportance for them since it solves the need when they arelooking for such a service provider , also we analyzed some ofthe key categories will be Mechanics , Training Needs, KidsNeeds , Home Needs and also categories which are not sogeneric but specificwe realized how important review and feedback from knownpeople will help them in making a decision to choose aservice providerFrom Service Providers we learnt that they are willing to trysuch a service and ready pay for such a service once they try ,and we need to provide them with tools that they cancommunicate with existing customers and manage them
  11. 11. Newprovider response we made few additions to theAfter the Consumer and service Hypothesisinitial plan we madeFor Consumers :1. We want to be a one stop connection to connect with any service provider across theglobe2. We realized we need to concentrate initially more of satisfying each customer needsthan trying to reach a large volume of consumers so that we can identify the key issuesand make sure we provide the right customer support to the consumer, a happyconsumer is the key for our success3. we realized the importance of reviews and feedback and relating it to people whothe customer knows, we want to use social media to let consumers know which serviceproviders their friends and family members use4. A good mobile application is needed as an add on to the webFrom Service Providers point of view, we realized we need to provide:1. Easy tools to communicate with new and existing customers2. Provide Transparency by showing as much details as how many service provider havebid till date, current status of the request, response ration of consumer who posted itetc3. we need to provide tools so that can mange customers using their mobile and phone