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Lets party columbia univ jan 2014

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  • 1. Team 33 Let’s PARTAY! www.letspartay.com Team: • Mike Malone • Juri Kondratev • Yan Wang Metrics that Matter: Adoption: • Users: 46 • Venues: 4 Revenue: $100 Customer Feedback: Last 24 hrs: • Users: 25 • Survey: 82 • Venues: 4 • Total: 123 Total: • Users: 236 • Survey: 121 • Venues: 18 • Total: 375
  • 2. App Screenshots (Beta)
  • 3. The Canvas - Start Key Partners • • • • • Event Planners Club promoters Bars /Lounges Alcohol distributors Online distributors: – – – – Soap.com Amazon.com PartyCity.com Ebay.com Key Activities • • Help People Organize Parties & Events Connect Party Organizers with Venues & Vendors Key Resources • • Value Preposition Customer Relationships Customer Segments • • • • • • • Easy Party Organizer Complete integration (one stop shop) Social features Fast organization Discount on party supplies • • • Individual Organizers Professional Organizers/Event Planers Channels • • • • Android App Store Apple App Store Individual Users (low) Party/Event Planners – (moderate) Bars / Lounges/ Venues (frequent) • Event Planners Club promoters Bars/Lounges Referrals by Existing Users Social Media Cost Structure Revenue Streams • • • • • • • • • • • • Staff Costs Hosting Costs iPhone SDK Hardware, Software Legal, Accounting Marketing, Social media campaign % on online party sales through the App % of purchase from grocery coupon sales Upgrades to eliminate pop up ads & for larger groups Professional version $20 per month Banner Ads, Pop Up Adds Bar / lounge monthly fee ( e.g., $20), tab commission
  • 4. The Canvas – More Focused Key Partners Social Influencers Student Groups Student Clubs Bars/Lounges/Venues Key Activities * Develop Website/App * Build Relationships with Student Groups * Broker best value Deals Consumer Analytics * Develop Website/App * Build Relationships with Venues * Broker large volume deals Value Preposition * Group Deals at Bars * Find Happy Hours * Bring more business Venues * Marketing/visibility of Venue Customer Relationships Get: Referrals, Social Media, Google Keep: Desired deals Grow: Add user Groups Get: Add more Business Keep: Ongoing Volume Grow: Add venues Channels Customer Segments * MBA/EMBA Student Groups (2,000+ ) * Student Groups * Venues near University that have excess Capacity * Guerilla Marketing * Social Media * Google Search * App Stores Key Resources * Website/App Stores * Technology * People/Team * Direct Sales * Guerilla Marketing * Distributers Cost Structure Revenue Streams • • • • • • • • People/Team Hardware, Software, Hosting Costs, App Store Legal, Accounting Marketing, Social Media campaign Commission on Group Events for Bars/Lounges Commission on Auctions/Bids “Featured Bar” Revenue Priority Access Revenue
  • 5. What We Learned People want an Individual Party Organizer App 1. Initial Hypothesis Add Value for Groups & Venues New MVP Will you pay for it? How often will you use it? 2. Experiments No, will not pay! Only use 5x per year! Focus on Deals for Groups in public Venues! 4. Iterations 3. Results Big Idea??
  • 6. Next Steps • Phase 1: – Focus on initial Target Customer Segment – Get traction with Columbia MBA/EMBAs & local Venues – Learn & Adjust • Phase 2: Expand in New York: – Columbia Law School & Other Columbia School & Faculties – NYU – Other NYC Colleges • Phase 3: Enter other big cities
  • 7. Appendix
  • 8. Competitive Analysis Individual Mobile Apps Review & Social Networks Smart phones(133M) Yelp(100M) Foursquare (45M) Thrillist (2.5M) Foursquare (45M) Thrillist 889K Happy Hour Finder (119K) LET’S PARTAY! Woodanddales (paid add) Drinkdeal.com (#1 Search) Nyhappyhours.com(#2 Search) Drinkowl.com (#3 Search) Facebook (1B) Evite (22M) PaperlessPost (5M) Social Media & Online EventBase (5M) Grupio (5K) Professional Event Planners Websites Top NY Happy Hour Results
  • 9. Competitive Analysis What it does Price & Users Deals Thrillist Lists of recommended places to eat and drink Free 889K Yelp Review Reserve for Restaurants & Bars Four square Bar Map Link or export to other sources Website √ √ √ √ √ √ √ √ √ Send invites & social Preedited Free 29M Preedited Search Free 33M Preedited Hour drinks Search for happy hour deals in a given neighborhood and day Free 5.4K Week Days Happy Hour Finder Search for happy hours nearby Free 191K Week Days LETS PARTAY 1. Finds happy hours; 2. form groups and get lower prices Site/ App √ Bid low price Form new groups √ √ √ √ √ √ √ √ √ √
  • 10. Customer Profile – Venues • Bars around universities (e.g., Columbia, NYU) • Size: 40+ Seats • Times with free Capacity • Parties that have Internet connection
  • 11. Customer Profile – Party Organizers • Social Chairs of Student Groups • University Event Organizers • Alumni Groups • EMBA Clusters (700+ people)
  • 12. Observations: Happy Hour No Happy Hour  Happy Hours Matter for Business!!

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