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Bent columbia univ jan 2014
 

Bent columbia univ jan 2014

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    Bent columbia univ jan 2014 Bent columbia univ jan 2014 Presentation Transcript

    • - Bent Lean Launch Pad – Final Presentation No. of Interview: Day 1 15 Day 2 22 Day 3 28 Day 4 41 Total 106 Inperson interviews: Online Survey: Team 7 Vijay Kanneganti - Nikita Ushakov Anaelle Medioni - Tanay Desai
    • Day 1: Young innocents… • Facebook, Twitter, (to be able to retrieve friends from them to our platform) • Agents, people looking for talents • Sponsors • Advertising agency • Build a video sharing platform • Generate an algorithm to determine popularity index • Moderate the content • • • • Storage service Office space Developers Startup capital • Fixed costs: office space, domain name, licenses • Variable costs: technical development, marketing • On the go free global video sharing • Accumulative content appreciation at varies levels – popularity index • Simple easy design Platform allows sharing of videos to showcase talents, in order to increase users’ popularity within the community to get recognition. OUR FAITH… • • • • • Community sharing • Talent identification • Social networking 1. Tech meetups, add campaigns, 2. Customer feedback web-channel 3. Apple store and Google play 4. Web and mobile platforms 5. Updates Seed capital Working capital Private investment Buyout or IPO …when it comes to value proposition. Mass Market Target group: • 15-28 years old • University and high school students • Young sportsmen and art aficionados • Talent admirers • Talent agents
    • Day 2: Coming with a new idea… Create more demand visibility Contest… Sign in Bent – Contests Platform Upload this on my: Support our video and picture contests by providing awards for the winners! • Get visibility on our platform • Get online content for your brand • Get a generous and original image And GROW !  Instagram  Vine  Youtube
    • Day 2: Coming with a new idea… Create more demand visibility Rewards Contest… Sign in Sign in Bent – Contests Platform Upload this on my: Support our video and picture contests by providing awards for the winners! • Get visibility on our platform • Get online content for your brand • Get a generous and original image And GROW ! Demand, Visibility, Positive Image  Instagram  Vine  Youtube
    • Day 2: Coming back with a new idea… • Facebook, Instagram, Twitter, Pinterest and Vine • Brands (clothing, accessories, technology and food) • Organize favorite brands for the users • Monitor number of views/likes generated by an uploaded video or a picture • Reward active users • Liaise with brands • Merchandise and Product Sponsors • Advertising agencies • Event organizers • • • • Storage servers Office space Developers Startup capital • Fixed costs: office space, domain name, licenses • Variable costs: technical development, marketing data storage servers Customers • Video and photo campaigns to promote favorite brands, events and other products • Winners receive awards from their favorite brands (monetary/nonmonetary) ?... Brands • Cheap ads from and for their targeted customers • Superior visibility, promotion and exposure • Diminished ad costs • • • • • • Get: Monetize Social Activity • Keep: Rewards • Grow: Broadening brand recognition ?... • Get: Visibility • Keep: Brand Loyalty • Grow: 1. Tech meetups, add campaigns, 2. Customer feedback web-channel 3. Apple store and Google play 4. Web and mobile platforms 5. Updates Free for users but a fee for corporates ? Commission from brands Seed capital Working capital Private investment Customers • Teenagers and university students • Extensive social networkers • Short film makers • Photo Editors • Art Aficionados • Brand Enthusiasts ?... Brands • Popular brands of clothing, electronics, automotive and food ?...
    • Day 2: Coming back with a new idea… Hypothesis Experiments Conclusions - Partnerships with big sport-fashion brands as Nike, Adidas and etc. - Users upload videos on our platform - Targeting social network addicts, creative teenagers and college students - Online survey -Marketing Professor Olivier Toubia interview - Columbia students interviews - Meetup Networking Events: Technology and Marketing - Contacting Marketing seniors at Nike, Converse, Quicksilver - Focus more on small businesses - We keep the 30 sec video duration - Try to use already existing video and picture platforms (YouTube, Facebook etc.) In person interviews - Need for more clarity in our customer segments Interested Not Interested Maybe what kind of contests?
    • Day 3: Doubt… 2 main ideas around the same initial principle emerging of our confrontation with customer • Facebook, Instagram, Twit ter, Pinterest and Vine • Brands (clothing, accessories, tec hnology and food) • Organize favorite brands for the users • Monitor number of views/likes generated by an uploaded video or a picture • Reward active users • Liaise with brands • Get: Monetize Social Activity • Keep: Rewards • Grow: Broadening recognition and popularity Customers • Video and photo campaigns to promote favorite brands, events and other products • Winners receive awards from their favorite brands • Get: Visibility • Keep: Brand Loyalty • Grow: Reduce marketing spend and increase recognition • Merchandise and Product Sponsors • Advertising agencies • Event organizers Customers • Ages 18-30 • Extensive social networkers • Party hoppers • Short film makers • Photographers • Income <$80,000 • Art Aficionados • Brand Enthusiasts Brands • • • • Storage servers Office space Developers Startup capital • Fixed costs: office space, domain name, licenses • Variable costs: technical development, marketing data storage servers Brands • Cheap ads from and for their targeted customers • Superior visibility, promotion and exposure • Brand Loyalty • Diminished ad costs 1. Web and mobile platforms 2. USPS or just email to send the rewards? How do we store/retail the rewards 3. Monetary or non-monetary dispatching ? • Free for users but a fee for corporates ? • Commission from brands • Clothing & Merchandise • Electronics • Automotive • Food
    • Day 3: Doubt… 2 business models around the same initial principle emerging of our confrontation with customers Hypothesis Experiments Conclusions - Users would participate to online contests by uploading 30 seconds videos or pictures -Users would hashtag brands they wear when uploading pictures if they are rewarded - Interviews in shops on 5th Avenue - Interviews downtown (Bryant park and more…) -Interviews on the street. -Interviewed with managers of a few corporate brands - Disagreement on our value proposition: 2 different ideas… Need for a clear decision - 3 customer archetypes found for both of the 2 ideas - For the contest platform idea the MVP = website prototype + list of potential contests users can participate in - A lot of users would prefer to upload pictures in stead of videos
    • Day 4: Guided by the voice of the streets… 3: …or 2 Professional Photographers and Video Producers • YouTube, Facebook, Instag ram, Twitter, Pinterest, Vin e, and other niche social networks ab : both ideas; • Monitor number of views/likes generated by an uploaded video or a picture • Control uploaded content and prevent any fraud • Liaise with brands ab : contests platform idea; • Event organizers Customers Segments • Get: Columbia students contests Express their creativity • Keep: Rewards from brands Just-wanna-have-fun guys Earn money • Grow: Extremely Narrowed Extreme sports passionate Targets, contacted directly Support NGOs and small businesses • Get: • Keep: Arty ones Small Businesses Networking Events Increased demand and visibilty Instachicks • Grow: Word Of Mouth Social Media Presence Hipsters Benefit hunters Brands • Merchandise and Product Sponsors • Advertising agencies : personal promotion idea Customers Organize video and picture contests • Brands (clothing, accessories, tech nology and food) ab • • • • Storage servers Office space Developers Startup capital • Fixed costs: office space, domain name, licenses • Variable costs: technical development, marketing data storage servers Brands • Cheap ads from and for their targeted customers • Superior visibility, promotion and exposure • Brand Loyalty • Diminished ad costs 1. Web and mobile platforms 2. USPS or just email to send the rewards? How do we store/retail the rewards 3. Monetary or non-monetary dispatching ? • Freemium for users • Commission from brands Extreme sports equipment shops Small businesses Fashion Brands
    • Day 4: Testing the two visions… Hypothesis Experiments Conclusions Are small businesses viable customers? Are “instachicks” interested in Bent? - Users Interviews downtown - Extreme sports equipment, ski equipment shops in SoHo -Speak to small boutique shops -More interviews with “Instachicks” -Small business are either not interested or not viable -Retarget big brands, schedule calls for next week. -”Instachicks” excited about rewards for hashtagging their pictures Small Businesses Interviews 4 3 2 1 we would be interested in it! 1 Sounds I like it but it's not I don't want more I don't care go interesting but I gonna work… customers! away! am not the one you should talk to…
    • Day 5: … to the Final Business Model Canvas • Facebook, Instagram, Twit ter, Pinterest, Vine, and other niche social networks • Organize favorite brands for the users • Monitor number of views/likes generated by an uploaded video or a picture • Reward active users • Liaise with brands • Brands (clothing, accessories, tech nology and food) • Merchandise and Product Sponsors • Advertising agencies • Event organizers • Office space • Developers • Startup capital to reward users before getting the visibility • Storage servers • Fixed costs: office space, domain name, licenses • Variable costs: technical development, marketing, data storage servers Customers • Video and photo campaigns to promote favorite brands, events and other products • Receive rewards for “hashtagging” brands on your picture • Get: Monetize Social Activity • Keep: Rewards • Grow: Watermark pictures and exclusivity • Get: Visibility • Keep: Brand Loyalty • Grow: Reduce marketing spend and increase recognition Customers Just-wanna-have-fun guys Extreme sports passionate Arty ones Insta-chicks Hipsters Benefit hunters Brands Brands • Cheap ads from and for their targeted customers • Superior visibility, promotion and exposure • Brand Loyalty • Diminished add costs 1. App stores 2. Electronic transaction for money or email for coupon as a reward • Freemium for users • Brand payments for the impact created by the users Extreme sports equipment shops Small businesses Fashion Brands
    • Conclusions Customer archetype Value definition Exclusive Platform that allows users to hashtag, upload and monitor brand impact of their pictures in exchange for rewards. • Revenue Streams • Average CPM of similar platforms is $1020. We use $6 where $5 goes to the user per picture • Assuming 50K users captured • Revenue = 6MM per months Meet with Advertising and Marketing experts to Validate model feasibility • Identify and tie up with a CTO • • Get: Only certain popular users (more than 500 followers) can join, therefore creating exclusivity • Grow: Watermark images uploaded by the users to create virality effect We might have a business which is scalable! Insta-chicks Customer relations • Keep: Consistently rewarding active users for uploading and “hashtagging”pictures Next steps Meet with brand representatives to ensure their interests in our concept • Speak to more of the archetype customers about how much they should earn to use our platform • 20-35 years old • Brand aware, willing to demonstrate brands • • Active social network users (posting on average 1 picture per day) Run experiments to measure the impact of hashtagging brands on social networks • Design functioning platform • High number of followers (from 500 users) • Test the platform and adjust • Popular person with social influence • • Kind of typical high school cheerleader captain Get traction by establishing relationship with key strategic partners