WagooEvangelizing what you love within your movable square mile. Federico Fraccaroli, Founder (A LBS daydreamer since 1999)
The nomenclature Principal – Business owner or brand owner Agent – A trusted representative of the principal who can embody the spirit and values of the principal. Often, an enthusiastic customer. User – Potential customer who has shown interest in the principals product or service. Usually a user of Facebook, LinkedIn or Twitter. Principal Agent system : (P/A)
The concept The Internet acts an equalizer. For high-end brands and professional services the Internet and social media is not an ideal vehicle for advertising and sales. People connect to people, rarely to brands. If they do connect to brands it is because of people embodying that brand. Basic Social Media Mistake Everyone Makes – Inc Magazine – Jul 11, 2012 A proposal: A mobile matching Agent-User Location Based Service. Mixing social location and word of mouth. Principal controls and empowers agents via a server based system. Area of operation Offer content Time windows Users will receive a notification when an agent is nearby by means of their mobile equipment if the algorithm on the server senses relevancy. Relevancy can be based on unambiguous user’s settings in his own Wagoo web page account or can be derived from Social Media activity (likes and shares).
Why Wagoo? The system provides exclusive deals/offers to prospective clients who will enjoy an interaction with an agent An alternative to unsolicited Internet based advertising for high end products and services. An agent is typically an enthusiastic and representative former customer who becomes an advertising spearhead for a brand, a product or a service. Becoming and agent is a reward to a loyal customer. Would you like to become an agent for a prestigious brand? A prestigious law firm? A prestigious country club? Probably. A happy customer is the most effective commercial.
A 30,000 feet view of the story Server Authorizes Agents AGENT Inputs Offers PRINCIPAL Defines parameters; On/Off Defines parameters User Franco Bernoulli requests to meet you. Accept? USER Fiat Agent 600 yards. PROXIMITY Exclusive deal details.Shared the deal on Facebook.Settings on Wagoo personal page. Request meeting ?i.e. “Likes” Fiat Cinquecento
A desirable opportunity for users The meeting with an agent is an exclusive and desirable prospect for a customer. Agents and customers will benefit from deals that are exclusive to them. Possible because of savings on traditional costly advertising (for high end services and brands). Principal may test a new product’s acceptance via selected Agents before a full blown investment. Relevancy and true serendipity are key to the matching system. A non intrusive algorithm that respects privacy and off time. Ask me how.
The envisioned product-I A webpage for principal to create agents, manage agents and empower them with exclusive products and offers. A webpage for agent to manage his account and the offers. A webpage for user to control the settings related to the systems’ matching algorithm. A back end service running a non-intrusive algorithm providing a few selected & relevant notifications. A mobile application that enables agents and users to be matched when nearby.
The envisioned product-II A Facebook web application that allows to share deals via Facebook by the Principal and the Agent. A “like” or a “share “will result in an entry in the Wagoo server that will adjust the user’s parameters to be employed by the LBS matching algorithm. A LinkedIn web application that allows to share deals via LinkedIn by the Principal and the Agent. A “like” or a “share “will adjust the user’s parameters to be employed by the LBS matching algorithm. A Twitter web application that allows to share deals via Twitter by the Principal and the Agent. A “like” or a “share “will adjust the user’s parameters to be employed by the LBS matching algorithm.
The market opportunity Location based Agent-User matching is a novel concept. Location matching has been implemented mainly with regard to dating and socialization. The “natural” principal is a high or medium profile brand, business or service. An illustrative sample includes: Automobile dealer or car brands. High tech or exclusive brands. Professional services: home builders, legal services, consulting services.
The market opportunity (cont) Users: conscious and connected consumers who value exclusivity and opportunity. They take informed and relation-driven buying decisions for significant goods and services. Agents: conscious and connected exemplary customers who are enthusiast about the brand or the service they have received. They act as proud and trusted representative of a brand and service. Agents have a vested financial interest through a commission from a principal for the sales or results that are traceable to them (“shares”, “likes” and “real life meetings”).
Competitors STRATEGIES Focus: upper end brands and services. Differentiation: Unique solution. Price: a low risk solution tied to sales. NO DIRECT COMPETITORS No mobile location based agency model exists to my knowledge. INDIRECT COMPETITORS Traditional Advertising. TV ads, magazines, billboard. Internet-Social Media Advertising. Adwords. Brick and mortar businesses. Group on.
Comparison with indirect competitors (A principal perspective ) Agency Social Media Adwords Brick & Group Traditional System Advertising Mortar on AdvertisingExclusivity High Low Low High Low MediumBrand risk Low Medium High Low High LowEffectivity High* Medium Medium High High High (For discussion)Reach High** High High Low High High (For discussion)Customization High Medium Medium High Low HighComparative Low*** Low Low High Low High (For discussion)CostNovelty Risk High Medium Medium Low Medium Low*One to one interaction with an enthusiastic agent/customer**Reach is proportional to the number of agents and relative to the kind of deals being proposed*** As compared to the traditional advertising of high end products. Can be tied to sales.
Value to the actorsPrincipal: brand or A new channel based on a mix of: word ofbusiness owner mouth , social media and technology. Low cost, high efficiency advertising.Agent: empowered Exclusive deals. Representing a brand or acustomer service they love. A financial incentive. High end shopping serendipity. Exclusive deals.User RELEVANCY
Adoption•First phase, principals acquisition. •Minimum viable product.•Second phase, agents acquisition.•Third phase, users acquisition.Marketing only after agents critical mass is reached.Mix of traditional marketing and social media marketing.Meeting places. Stickers of application on doors. (Ask me more.)
Show me the money! The alternative /complementary business models Principal (alternatives or combinations possible) Fee based on number of agents Fee based on number of “likes”, “share "or “location based matches” per offer Fee based on different tiers of service Fee based on a percentage of revenue generated through the system Agent Percentage of Agent’s fee Meeting places (Starbucks i.e.) The system will be routing agents and users to meeting places. (Ask me how to monetize this)
Questions, complaints and rotten tomatoes Grazie per l’attenzione!