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Nest Business Model Presentation
- 1. Anthony Cutrofello Matt Fineran Meagan Eng Bernie Guzman-Lopez
- 2. Company Background Founded by Former Apple engineers Tony Fadell and Matt Rogers in 2010 First product - Learning Thermostat in 2011 Google acquired Nest Labs on January 14, 2014 for 3.2 billion dollars Currently not publicly traded By summer 2015, Nest plans to sell 85,000 thermostats monthly
- 3. Nest Products Nest Protect Nest with Pendleton Blanket Nest with Clean Bottle Nest Thermostat Dropcam
- 4. Trends Societal “Going green” Buying local Do-it-Yourself Social responsibility Technology Millennials – early adopters “Internet of Things” Mobile Economic Millennial spending power é Industry Smart Home market é Energy efficiency/LEED certified buildings Automated entertainment and security systems
- 5. KP • Nest Pro • Google • Government • Utilities Companies • Distributions • Home Appliance Developers KA • R&D • Production VP • Innovating home accessories to be more energy efficient, convenient, secure and safe by reducing cost, and being customizable CR • Nest Pro • Customer support CS • Family Households Owners or Renters Technologically Advanced Middle to Upper Class KR • Research and Development • Talented Employees • Intellectual Properties CH • Home Depot • Lowes • Apple • Target • Nest Online • Best Buy • Amazon • Online Electronics Retailers C$ • Manufacturing and Distribution • Marketing and Sales • R&D R$ • In store Sales • Internet Sales • Google Current Business Model
- 6. SWOT Strengths • Interconnectivity through wifi • Backed by Google Weaknesses • Few product offerings • Recalls on previous products • Google’s public image Opportunities • Apartment complexes/ office buildings/hotels • Growing Smartphone industry • Security services using current products Threats • Competitors • Renters • Viruses and hackers - Nest platform and products
- 7. Challenges Competitors Na1onal share of first-‐1me home-‐buyers is slipping Minimal investment in the home’s infrastructure Solution Renters Grab as much market share as possible as quickly as possible by crea1ng a grab-‐and-‐go ecosystem of smart devices and appliances for the home.
- 10. New Business Model KP • Insurance Companies • Emergency Services • Nest Pro • Google • Government • Utilities Companies • Distributions • Home Appliance Developers KA • Providing Smart Home Services • R&D • Production VP • Innovating home accessories to be more energy efficient, convenient, secure and safe by reducing cost, and being customizable • People, Planet, Profit • Providing a service to focus on human safety, Protecting the planet with our innovative technologies, Gaining profit through this service CR • Nest Pro • Customer support • Safe Nest Automation Service CS • Millennials (17-34) • Family Households Owners or Renters Technologically Advanced Middle to Upper Class KR • Server Systems • Research and Development • Talented Employees • Intellectual Properties CH • Home Depot • Lowes • Apple • Target • Nest Online • Best Buy • Amazon • Online Electronics Retailers C$ • Manufacturing and Distribution • Marketing and Sales • R&D • Communication servers R$ • In store Sales • Internet Sales • Safe Nest Subscription • Nestlets • Google
- 11. Strategic Partners First Responders Fire Rescue Police EMS Reduce response times Improve accuracy and efficiency
- 13. Pricing $30 Pack of 10 sensors $100 2 Nestlets $90 Nest Protect SafeNest Starter Pack $190 ($220 Value) $20.00/ Month
- 14. Pricing Basic Plan $36.99/ Month Basic Plan $29.95/ Month $66.94/ Month SafeNest The same services as ADT + Life Alert $20.00/ Month
- 15. Integrated Marketing Communications WHAT? WHO? HOW? SAFETY MILLENIALS CHANNELS
- 16. Advertising Short Commercial spots on Youtube Parents are always trying to make everything safer for us. Now, let’s give back. Get your parents a Nest Protect with Safe+Nest.
- 17. Cause Marketing 5% of our annual subscription fee will be destined to their local fire departments Fire departments can allocate these resources to address their main issues It’s all about giving back…
- 18. Public Relations
- 19. Product Placement Modern Family Chicago Fire Arrested Development The audiences of these shows comprise substantial millennial viewers and reflect their overall social and cultural attributes
- 20. Distribution Safe Nest Signup online at nest.com Nestlet Apple, Home Depot, Lowes, Target, Amazon, nest.com
- 21. Social Media #SafeNestSelfie 1 winner per social network Take a selfie with your NestProtect and post to social media with the hashtag #SafeNestSelfie for a chance to win a Nestlet.
- 22. Guerilla Marketing • Dance to “Staying Alive” • Nest Protect with Safe Nest saves lives Time Square Fire Fighter Flash Mob
- 23. Evaluation Insurance Rate Reduc;ons Number of SafeNest Subscrip;ons Number of Nestlets Sold Key Performance Indicators
- 24. Contingency Plan Initial revenue generated from SafeNest will be allocated to a precautionary War Chest Preventive measure to solve any potential issues encountered with first generation adoption of Safe+Nest We will be prepared!