Women want recommendationsBrand agnostic advice is available on the marketplaceHigh turnover at cosmetics stores=lack of deep relationships with behind the counter salespeopleMany women know what cosmetics they will purchase before walking into the store. Their trip is not a "random walk,” but a focused search for a few key, pre-planned itemsIt's OK to lose customers in the market discovery process
Team Vogue Block 4 Presentation
Team Vogue presentsWebsite: http://www.beauty-insight.comFacebook: http://www.facebook.com/beautyinsightTwitter: http://www.twitter.com/beauty_insight Vision: To become the bridgebetween consumers and trusted experts in the beauty industry
Business Model CanvasKey Partners Key Activities Value Proposition Customer Customer Segments RelationshipsFacial recognition Build a massive beauty INSTANT, Friends and friends Women 18-44, urban,and online makeup ontology, taxonomy personalized, of friends aka social already buying and/ortechnology and attributes cross- unbiased beauty media researching online, linked with products in recommendations into cosmetics the industry from experts you can buying in highCosmetic and trust volume or highsupply companies frequency, who demand personalPUBLISHING attention andHOUSES customization forBeauty/Fashion/Gos their beauty routinesip magazines Key Resources Channels UX TeamFASHION HOUSES Beauty industry WebsiteRunway shows experts withBeauty trends unsurpassed product knowledge, as well asSOCIAL skincare specialistsNETWORKING such as dermatologist Rules Engine Following trends and new product innovations that are worthy of endorsement. ONLINE PLATFORMCost Structure Revenue Streams VALUE DRIVEN SUBSCRIPTION OR PAY-PER-USE SALE OF MERCHANDISE = FIXED 60% GROSS MARGIN Freemium Staff (most expensive) Offer complementary consultation for the first-time Overhead for website COGS users. STRATEGIC PARTNERSHIPS: ACCESS TO USERS Charge fee to access on-going services. (Needs validation)
What we thought We are doing well! We could make this work. Just go with multiple ways to generate revenue. What we didn’t think How would this scale?Too many revenue models would confuse the customer.
What we did We took advice • From the class session on keeping revenue models simpleWe took more advice • Jim pointed us towards facial recognition We talked to • Patented technology that provides multitude of facial Modiface attributes and applies makeup onlineWhile we continued • 20 more women interviewedto talk to customers • Started receiving feedback and beauty questions on FB And we continued • This time with Twitter and Slideshare with promotion • Insight Today FB campaign seems to be working (300+ Likes, 65+ people talking about us) experiments
What we found All of this needs ongoing customer Pivot validation The key lies in a “recommendation rules-engine”We will use our expertise in beauty industry along with a network on external beauty experts to create a prototype of this engineWe will provide “instant” personalized recommendations – practically ZEROmarginal cost of adding a new customer, not limited by the number of beauty experts we have Keep the revenue model simple by offering pre-paid subscription and timed auto-shipments
Website – http://www.beauty-insight.com Graphic Wireframes Sign-in design for created and workingbeta launch linked for with native complete key pages and 6 other types of accounts
Beauty sessions with gorgeous Berkeley ladiesZulma @1:00 PM Zulma @1:20 PM Carol @2:00 PM Carol @2:20 PM The MagicianShino @1:30 PM Shino @1:50 PM
Promotions @ Facebook, Twitter and Slideshare Out of 300+ likes, 200+ is purely from this FB campaign running @$2 per day. AKA – we don’t even know these 200 people
Where we are going… Work towards completing one flow (Eyes) of sign-up to Initiate rules engine purchase prototypeinteraction (MVP) development Keep validating Serious customers and efforts to continue obtain promotional funding experments
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