The Journey: Customer Discovery Tracked
down 4 free passes to a conference, and then snuck in a 5th… Kicked out of ~15 eating establishments… Crashed 1 dorm party… Bought and drank beers at 9 different bars (in one night)… …all in the name of “customer discovery” Coin Out www.coin-out.com 5
The Reward: Customer Archetypes 1
Point of Sale Vendors Ahha! “Customer…not just a partner” Archetype: “New” iOS & Archetype: “New” iOS & Android PoS systems Android PoS systems Value Prop: Merchants Value Prop: Merchants happy; revenue-share happy; revenue-share Archetype: High-traffic, Archetype: High-traffic, small biz w/ new PoS small biz w/ new PoS Value Prop: Loyalty; Value Prop: Loyalty; communication channel communication channel 2 Merchants 3 Archetype: Smart phone Archetype: Smart phone user who is paid in cash user who is paid in cash Value Prop: Utilize Value Prop: Utilize change; eliminate hassle change; eliminate hassle End-Users Start Coin Out Day 1 Day 2 Day 3 www.coin-out.com Day 4 Day 5 7
Thank You, Lean Launchpad! For
ongoing contact: Jeff Witten Norman Niemer Lee Cooper jeff.witten @gmail.com Coin Out citynorman @gmail.com Ivan Miao lcooper15 ym2459 @gsb.columbia.edu @columbia.edu www.coin-out.com Berfu Altintas ba2417 @columbia.edu 16
Market Size TAM 143.3 Million
Total Users in US SAM 34.4 Million Potential Users Opportunity 1 Million 1 Million Target Users Target Users Coin Out www.coin-out.com Total Smartphone Users - 60.8% of mobile market penetration Mobile usage - 24% people active mobile phones to pay Possible capture - User number for similar mobile payment system 23
Value Prop Canvas Gain Creators
Gains Quick exchange Loyalty Fun experience Recognize value capture that otherwise wouldn’t have New access point for rewards/added money Entertaining and fun way to earn More efficient POS More money Greater traffic Customer in and out quickly Cashiers counting fewer coins Communication to new customer base Pain Relievers Pains No more loose coins in pockets Immediate conversion Digital access/staying on top of deals Cashiers spend less on counting coins Less need to stock Get people paying in cash out quicker Carrying around coins Walking/finding the Coinstar machine Forgetting loyalty card/not getting credit Coin Out Time costs Costs of stocking registers Long lines www.coin-out.com 26
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