Sync E245 Final Presentation
 

Sync E245 Final Presentation

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Sync E245 Final Presentation Sync E245 Final Presentation Presentation Transcript

  • Final Presentation for E245 Winter 2012 Total Expert Interactions: 10 Total Interviewed: 74 Total Survey: 103Tuesday, March 6, 12
  • We’re simplifying communication and intimately connecting couples’ lives for healthier relationships Service Obtainable Market: ~330MTuesday, March 6, 12
  • The Team SYNC Healthier Relationships Elie Noune Stacy Johnson •EE, Music Tech •MBA1 at GSB •Apple •B.S. in Computer Science from RPI •Role: Need finder, Interviewer, •Software Engr for 4yrs at Cisco iOS Engineer, Tester •Role: Tester, Prototyper Daniel Strazzulla Sandhya Hegde •CS/HCI Masters •MBA1, GSB •IBM, Apple •Sequoia Capital •Role:Developer, Design, Tester •EE, IIT Bombay •Role: UI Design, Demand Generation, Tester, InterviewerTuesday, March 6, 12
  • Our Journey • We can’t find ppl Happiness to pay for virtual •Strong demand by LDRs quotient gifts/dates •All couples liked free • B2B won’t work version • ~$13 CLV • Web won’t work • 24% testers willing Mar 5 to pay for travel recs •Freemium Jan 31 •Mobile tests • Good, couples Feb 7 don’t talk on • 1-click Microupdates Facebook over MOBILE • We will monetize • Mobile apps to •10-11% web dates, TRAVEL, LEADs distance couples Jan 24 • Army? conversion •24.6% web • 1-click rate microupdates conversion rate • We will monetize virtual gifts, dates might be MVP Feb 14 Feb 28 • Prototype? •Mobile App Jan 17 •Target all Couples •We will sell a WEB APP to distance couples & companies they work for •Not learning Feb 21 • Web AppTuesday, March 6, 12
  • Phase 1: Understanding the CustomerTuesday, March 6, 12
  • Confident SYNC: INITIAL BUSINESS MODEL CANVAS Unsure Don’t know Key Key Value Customer Customer Partners Activities Propositions Relationships Segments Amazon Design One-to-one private Self service College/graduate Marketing space for sharing students in long GDS/ITA all media and distance messages Customer support relationships Customization Integration Tailored services Enterprises with (Dates, Gifts and large commuting Key , Memories..) for a healthy relationship Channels employee base Resources IT infra White label tool to Web improve employee Engineers, retention Designers Direct sales Cost Revenue Structure Streams Personnel Subscription Licensing IT GiftsTuesday, March 6, 12
  • Confident SYNC: 1.BUSINESS MODEL Unsure Don’t know Key Key Value Customer Customer Partners Activities Propositions Relationships Segments Amazon Design One-to-one private Self service College/graduate Marketing space for sharing students in long GDS/ITA all media and distance messages Customer support relationships Customization Integration Tailored services Enterprises with (Dates, Gifts and large commuting Key , Memories..) for a healthy relationship Channels employee base Resources IT infra White label tool to Web improve employee Engineers, retention Designers Direct sales Cost Revenue Structure Streams Personnel Subscription Licensing IT GiftsTuesday, March 6, 12
  • The Problem Missing out Lonely Left aside Disconnected Frustrated Multitasking I’m busy Living different lives Send each other things Laugh less through email/text Planning the next visit Many short call Everything is an effort throughout day Post-poning couple time Don’t communicate trivial thingsTuesday, March 6, 12
  • The WantTuesday, March 6, 12
  • Hypothesis - Privacy & Virtual Hypothesis Tests LDR couples want to communicate in a private space 49 Surveys + 12 30+ minute interviews LDR couples would pay to send virtual gifts to each otherTuesday, March 6, 12
  • 49 Surveys + 12 30+ Yes to Privacy, No to Virtual minute interviews Hypothesis Result Couples who use Facebook LDR couples want to 22% communicate in a private space No Yes 78% LDR couples would ...Current behavior != pay to send virtual gifts to each other Virtual ... Only 26% have usedTuesday, March 6, 12
  • Customer Archetype Have Money NO * Teens to Mid-30s * College Students Source for picture: http://realtimemg.com YES * Mid-20s to Mid-40s * Working Professionals * Frequent Traveler Source for picture: http://theperfectcharlie.com Have YES NO TimeTuesday, March 6, 12
  • Phase II: Generating demandTuesday, March 6, 12
  • Confident SYNC: IV. BUSINESS MODEL Unsure Don’t know Key Key Value Customer Customer Partners Activities Propositions Relationships Segments Single-click sharing AWS Design in a private space Self service College/graduate Marketing students in long App Stores distance Virtual dates and custom gifts relationships GDS/ITA Travel recommendations Key Manufacturers/ Channels Resources High conversion retailers of gifting leads items (flowers, Web chocolates) IT infra Mobile Engineers, Designers Direct sale Cost Revenue Structure Streams Personnel Customer Acquisition Subscription Custom Gifts IT Lead generationTuesday, March 6, 12
  • What We Did: Web Prototyping and Demand CreationTuesday, March 6, 12
  • What We Did: Landing Page + Web AppTuesday, March 6, 12
  • What We Found: People are interested & referring us 4 day progress report Overall Signup progress 1258 31 filled 5-min 136 survey 10.8%Tuesday, March 6, 12
  • What we did: Targeted women, all couples Demand generation test Hypothesis: Women-in-relationships are likelier to click through, irrespective of distance statusTested for $30 Facebook click through & conversion from FBimpressions Ad-1 Ad-3 Ad-4 Ad-2Tuesday, March 6, 12
  • What we found: Clicks, no web app usage Demand generation test Funnel: “Couples” campaign $ 29.7 this week 304,286 0.01 c impressions 122 uniques 0.35 c/new 85 new 30 sign-up 0.99 c clicksTuesday, March 6, 12
  • What we found: Clicks, no web app usage Demand generation test Funnel: “Couples” campaign $ 29.7 this week 304,286 0.01 c impressions 122 uniques 0.35 c/new 85 new 24.6% conversion 30 sign-up 0.99 c clicks but one used web appTuesday, March 6, 12
  • What We Found: different distance types Customer Archetypes: Distance is both physical and emotional busy co-located couples Emotional YES 0.01 c 0.35 c/new committed long distance couples NO 0.99 c NO YES PhysicalTuesday, March 6, 12
  • What We Found: different distance types Customer Archetypes: Distance is both physical and emotional busy co-located couples Emotional YES 0.01 c 0.35 c/new committed long distance couples NO 0.99 c NO YES PhysicalTuesday, March 6, 12
  • What We Did: Tested Travel Component Test Results Would be fun and Marketing Partners useful...won’t pay Spend a lot on travel - avg ~ DATING Sites & TRAVEL HOTELS CORP. $3100/yr Blogs United Match.com Starwood Consulting 10% Not Pay 24% $ 5-10 Expedia, $ 1-5 eHarmony Marriott Airlines Kayak 66% JetBlue OkCupid.com Sheraton SalesTuesday, March 6, 12
  • What We Learnt: Gifts, not travel Partner, revenue Travel business model not feasible due to poor click through rate over mobile Partner Example Type/Canvas Takeaway Feasible? Expedia/Travelocity Affiliate Poor/No click through rates would get us kicked out! 1-800-Flowers Customer 6-9% of sales (and competition) Avg sale > $30 Other Top “Gift” Categories: Electronics, Candy, Wine Customer Karma model? TBDTuesday, March 6, 12
  • Phase III: MVPTuesday, March 6, 12
  • Micro-updates in Action Location Activity MoodTuesday, March 6, 12
  • It’s Demo TimeTuesday, March 6, 12
  • Tuesday, March 6, 12
  • MVP distribution Long way App Store?Tuesday, March 6, 12
  • Shortcut TestflightTuesday, March 6, 12
  • User Behavior Same location Registered Long-distance on TestFlight 16 Installed Sync 14 Came back 12 10 8 2Tuesday, March 6, 12
  • User Interviews (5) 2 Long-distance, 3 Same Location “The one-to-one idea is awesome!” “I definitely want to know that information” “Same effort as texting, could you make it automatic?”Tuesday, March 6, 12
  • Survey Data (7 users) • 5 Long-distance, 2 Same Location • 2 Complaints about Visual DesignTuesday, March 6, 12
  • Survey Data (7 users) • 5 Long-distance, 2 Same Location • 2 Complaints about Visual Design • Were Push Notifications helpful? 7 0Tuesday, March 6, 12
  • Survey Data (7 users) Do you want to continue using Sync?Tuesday, March 6, 12
  • Survey Data (7 users) Do you want to continue using Sync? 7 0Tuesday, March 6, 12
  • What We Found Free > Premium 1 Premium 2 FreeTuesday, March 6, 12
  • SYNC: VII. BUSINESS MODEL Key Key Value Customer Customer Partners Activities Propositions Relationships Segments Mobile advertising App Stores Design 1-click Marketing Web sponsored st. microupdates AWS Couples (P) Private Space Blogs/dating Sites GDS/ITA Self service Couples (E) Premium services Key Channels Resources High conversion Flowers/ Candy leads Mobile Gift sites IT infrastructure Engineers, Travel/date/trip Web Designers recommendations Direct sale Cost Revenue Structure Streams Personnel Customer Acquisition Freemium Lead generation IT Custom GiftsTuesday, March 6, 12
  • SYNC: VII. BUSINESS MODEL Confident Unsure Don’t know Key Key Value Customer Customer Partners Activities Propositions Relationships Segments Mobile advertising App Stores Design 1-click Marketing Web sponsored st. microupdates AWS Couples (P) Private Space Blogs/dating Sites GDS/ITA Self service Couples (E) Premium services Key Channels Resources High conversion Flowers/ Candy leads Mobile Gift sites IT infrastructure Engineers, Travel/date/trip Web Designers recommendations Direct sale Cost Revenue Structure Streams Personnel Customer Acquisition Freemium Lead generation IT Custom GiftsTuesday, March 6, 12
  • Summary of Key Learnings Cheap hacks vs. Product Build MVP for whatever your vision is ASAP To get “good” result you need GOOD TESTS Talk to our TARGET CUSTOMER & Put things in customer’s hand COMPETITION - not an empty space Problem != PAYING CUSTOMERTuesday, March 6, 12
  • It this viable? Not yet... Now what? We see the need, but need to continue working on the solution...Tuesday, March 6, 12
  • Confident SYNC: 1.BUSINESS MODEL Unsure Don’t know Key Key Value Customer Customer Partners Activities Propositions Relationships Segments Amazon Design One-to-one private Self service College/graduate Marketing space for sharing students in long GDS/ITA all media and distance messages Customer support relationships Customization Integration Tailored services Enterprises with (Dates, Gifts and large commuting Key , Memories..) for a healthy relationship Channels employee base Resources IT infra White label tool to Web improve employee Engineers, retention Designers Direct sales Cost Revenue Structure Streams Personnel Subscription Licensing IT GiftsTuesday, March 6, 12
  • Confident SYNC: II. BUSINESS MODEL Unsure Don’t know Key Key Value Customer Customer Partners Activities Propositions Relationships Segments One-to-one private AWS Design space Self service College/graduate Marketing students in long App Stores Connect their distance different Worlds Customer support relationships Customization GDS/ITA Integration Schedule trips and time for each other Enterprises with large commuting Key Meaningful updates employee base (Easily and frequently Channels Resources share trivial things) Tailored services Web IT infra (Virtual Dates, Gifts, Timeline) Engineers, Mobile Designers White label tool to improve employee Direct sales retention Cost Revenue Structure Streams Personnel Customer Acquisition Subscription IT Gifts Virtual GoodsTuesday, March 6, 12
  • Confident SYNC: III. BUSINESS MODEL Unsure Don’t know Key Key Value Customer Customer Partners Activities Propositions Relationships Segments Single-click sharing AWS Design in a private space Self service College/graduate Marketing students in long App Stores distance Virtual dates and custom gifts relationships GDS/ITA Travel recommendations Key Manufacturers/ Channels Resources High conversion retailers of gifting leads items (flowers, Web chocolates) IT infra Engineers, Mobile Designers Direct sale Cost Revenue Structure Streams Personnel Customer Acquisition Subscription Custom Gifts IT Lead generationTuesday, March 6, 12
  • Confident SYNC: IV. BUSINESS MODEL Unsure Don’t know Key Key Value Customer Customer Partners Activities Propositions Relationships Segments Single-click sharing AWS Design in a private space Self service College/graduate Marketing students in long App Stores distance Virtual dates and custom gifts relationships GDS/ITA Travel recommendations Key Manufacturers/ Channels Resources High conversion retailers of gifting leads items (flowers, Web chocolates) IT infra Mobile Engineers, Designers Direct sale Cost Revenue Structure Streams Personnel Customer Acquisition Subscription Custom Gifts IT Lead generationTuesday, March 6, 12
  • Confident SYNC: V. BUSINESS MODEL Unsure Don’t know E G Key Key Partners A N Activities Value Propositions Customer Customer Relationships Segments C H Single-click sharing N OApp Stores AWS Design Marketing in a private space Self service College/graduate students in long distance relationships GDS/ITA Travel recommendations Key Manufacturers/ Channels Resources High conversion retailers of gifting leads items (flowers, Web chocolates) IT infra Mobile Engineers, Designers Direct sale Cost Revenue Structure Streams Personnel Customer Acquisition Subscription Custom Gifts IT Lead generationTuesday, March 6, 12
  • SYNC: VI. BUSINESS MODEL Key Key Value Customer Customer Partners Activities Propositions Relationships Segments AWS Design Self service Couples in distance 1-click Marketing OR commuting App stores microupdates relationships GDS/ITA Travel/date/trip recommendations Manufacturers/ Key retailers of gifting Channels Resources items (flowers, chocolates) High conversion IT infrastructure leads Web Engineers, Mobile Designers Direct sale Cost Revenue Structure Streams Personnel Customer Acquisition Subscription Custom Gifts IT Lead generationTuesday, March 6, 12
  • Confident SYNC: VI. BUSINESS MODEL Unsure Don’t know Key Key Value Customer Customer Partners Activities Propositions Relationships Segments AWS Design Self service Couples in distance 1-click Marketing OR commuting App stores microupdates relationships GDS/ITA Travel/date/trip recommendations Manufacturers/ Key retailers of gifting Channels Resources items (flowers, chocolates) High conversion IT infrastructure leads Web Engineers, Mobile Designers Direct sale Cost Revenue Structure Streams Personnel Customer Acquisition Subscription Custom Gifts IT Lead generationTuesday, March 6, 12
  • SYNC: VII. BUSINESS MODEL Key Key Value Customer Customer Partners Activities Propositions Relationships Segments Mobile advertising App Stores Design 1-click Marketing Web sponsored st. microupdates AWS Couples (P) Private Space Blogs/dating Sites GDS/ITA Self service Couples (E) Premium services Key Channels Resources High conversion Flowers/ Candy leads Mobile Gift sites IT infrastructure Engineers, Travel/date/trip Web Designers recommendations Direct sale Cost Revenue Structure Streams Personnel Customer Acquisition Freemium Lead generation IT Custom GiftsTuesday, March 6, 12
  • SYNC: VII. BUSINESS MODEL Confident Unsure Don’t know Key Key Value Customer Customer Partners Activities Propositions Relationships Segments Mobile advertising App Stores Design 1-click Marketing Web sponsored st. microupdates AWS Couples (P) Private Space Blogs/dating Sites GDS/ITA Self service Couples (E) Premium services Key Channels Resources High conversion Flowers/ Candy leads Mobile Gift sites IT infrastructure Engineers, Travel/date/trip Web Designers recommendations Direct sale Cost Revenue Structure Streams Personnel Customer Acquisition Freemium Lead generation IT Custom GiftsTuesday, March 6, 12
  • SYNC: VIII. BUSINESS MODEL Key Key Value Customer Customer Partners Activities Propositions Relationships Segments Mobile advertising App Stores Design 1-click Marketing Web sponsored st. microupdates Couples (P) Private Space Blogs/dating Sites Self service Couples (E) Premium services Key Channels Resources High conversion Flowers/ Candy leads Mobile Gift sites IT infrastructure Engineers, Designers Direct sale Cost Revenue Structure Streams Personnel Customer Acquisition Freemium Lead generation ITTuesday, March 6, 12
  • Confident SYNC: VIII. BUSINESS MODEL Unsure Don’t know Key Key Value Customer Customer Partners Activities Propositions Relationships Segments Mobile advertising App Stores Design 1-click Marketing Web sponsored st. microupdates Couples (P) Private Space Blogs/dating Sites Self service Couples (E) Premium services Key Channels Resources High conversion Flowers/ Candy leads Mobile Gift sites IT infrastructure Engineers, Designers Direct sale Cost Revenue Structure Streams Personnel Customer Acquisition Freemium Lead generation ITTuesday, March 6, 12