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  • What a week launching jerseysquare.com in Steve Blank's Lean Launch Pad at Columbia Business School! Next step... sleep. Then perhaps KickStarter to fund our inventory.
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Team i jersey square-final_v2 Presentation Transcript

  • 1. JerseySquare As of: 8/31/12 “The Netflix of Licensed Sports Jerseys”Bryan Gitler Elmer Moore Jay Naik Michael MelmedJerseySquare is a rental service for professional sports jerseys Total Interviews: 169 Total Website Visits: 190 TOTAL SUBSCRIPTIONS SOLD: 2
  • 2. Customer Discovery 80 Customer Sales 70 2 Key Partners 60 Cost Resources 50 Potential Customers 40 66 30 55 15 20 1 10 20 4 1 7 0 Monday Tuesday Wednesday Thursday FridayOver the course of the week, we spoke with 169 contacts during the customer discovery process
  • 3. Day 1 Canvas As of: 8/27/12Key Partners (7) Key Activities (5) Value Proposition (1) Customer Relationships (4) Customer Segments (2)Who are our key partners/ suppliers Which key activities does the biz model What value do we deliver to the What type of relationship does each For whom are we creating value require customer segment require of usProfessional Sports - Rental Tracking A cheaper way to Search ads Professional SportsLeagues - Shipping wear Officially Game Attendees Licensed sports Social MediaJersey Suppliers - Dry cleaning jerseys to a game - Male At StadiumDry Cleaners - Marketing Promotions - Adult Eliminate risk ofStadium - Customer Service owning a player - <$100k incomeShop/Vendors jersey who is Key Resources (6) - Attend 10+Pre-paid Envelope Which key resources does the biz model traded games per yr requireSuppliers Channels (3) Jersey Inventory Provide alternative Through which channel does each segment want to be reachedUSPS/Fedex/UPS to purchasing Warehouse Website counterfeit jerseys Logistics system Stadium Shops/Vendors Ticket Websites Direct MailCost Structure (9) Revenue Streams (8)What are our cost drivers How much is each segment willing to pay and how would they like to pay us this amountWarehouse, shipping, cleaning, logistics tracking, Annual Subscription Modelwebsite development/maintenance
  • 4. Day 1 - Yankee StadiumCustomer Discovery
  • 5. Day 2 Canvas As of: 8/28/12Key Partners (7)Who are our key partners/ suppliers Key Activities (5) Current Canvas Which key activities does the biz model require Value Proposition (1) What value do we deliver to the customer Customer Relationships (4) What type of relationship does each segment require of us Customer Segments (2) For whom are we creating valueProfessional Sports - Rental Tracking A cheaper way to GET - Search Ads, Professional SportsLeagues - Shipping wear Officially Partnerships, At Game Attendees Licensed sports stadium promotionJersey Suppliers - Dry cleaning jerseys to a game - Male and Female KEEP - CustomerDry Cleaners - Marketing Service - Young Adult 18- Eliminate risk of 30Stadium - Customer Service owning a player GROW - ReferralShop/Vendors jersey who is Program - <$100k income Key Resources (6) tradedPre-paid Envelope Which key resources does the biz model - Attend >10% of requireSuppliers Channels (3) home games per Jersey Inventory Provide alternative Through which channel does each segment want to be reached yrUSPS/Fedex/UPS to purchasing Warehouse Website - Casual sports counterfeit jerseys Logistics system Stadium fans Shops/Vendors Ticket Websites Direct MailCost Structure (9) Revenue Streams (8)What are our cost drivers How much is each segment willing to pay and how would they like to pay us this amountJerseys, warehouse, shipping, cleaning, logistics Annual Subscription Modeltracking, website development/maintenance,customer service employees Pay per Rental
  • 6. Day 2- Customer DiscoveryNike Town NBA Store NHL Store
  • 7. Day 3 Canvas As of: 8/29/12Key Partners (7)Who are our key partners/ suppliers Key Activities (5) Current Canvas Which key activities does the biz model require Value Proposition (1) What value do we deliver to the customer Customer Relationships (4) What type of relationship does each segment require of us Customer Segments (2) For whom are we creating valueJersey Suppliers - Rental Tracking Rental Tracking GET - Search Ads, Professional Sports SPORTS JERSEY - Shipping Shipping Partnerships, At FansDry Cleaners OWNERS stadium promotion - Dry cleaning Dry cleaning - Flexibility toPre-paid Envelope change jersey KEEP - Customer SPORTS JERSEYSuppliers - Marketing Marketing - Eliminate risk of Service OWNERS owning jersey - MaleUSPS/Fedex/UPS - Customer Service GROW - Referral Customer Service who is traded – Referral/ - Kid to Young ProgramProgram Reward Adult 13-35 Key Resources (6) Which key resources does the biz model require Channels (3) Jersey Inventory SINGLE GAME Through which channel does each segment want to be reached SINGLE GAME Jersey Inventory ATTENDEES Website Website ATTENDEES Warehouse - Cheaper way to - Male and Warehouse wear jersey to a Stadium Stadium Female Logistics system Logistics system game Shops/Vendors Shops/Vendors - Young Adult 18- 30 Ticket Websites Ticket Websites - Casual fan Direct Mail Direct MailCost Structure (9) Revenue Streams (8)What are our cost drivers How much is each segment willing to pay and how would they like to pay us this amountJerseys, warehouse, shipping, cleaning, logistics Jerseys, warehouse, shipping, cleaning, SINGLE GAME ATTENDEES SPORTS JERSEY OWNERStracking, tracking,development/maintenance, logistics website website - Pay per Rental - Annual Subscriptioncustomer service employees customer service development/maintenance, employees
  • 8. Day 3 - Customer Discovery Left Side of Canvas Right Side of CanvasCommercial Dry Cleaners USPS & FedEx Sports Bars Jersey Suppliers Social Media
  • 9. Day 4 Canvas As of: 8/30/12Key Partners (7)Who are our key partners/ suppliers Key Activities (5) Current Canvas Which key activities does the biz model require Value Proposition (1) What value do we deliver to the customer Customer Relationships (4) What type of relationship does each segment require of us Customer Segments (2) For whom are we creating valueJersey Suppliers - Rental Tracking Rental Tracking GET - Search Ads, Professional Sports SPORTS JERSEY - Shipping Shipping Partnerships, At Social FansDry Cleaners OWNERS stadium At stadium Media, promotion - Dry cleaning Dry cleaning - Flexibility toPre-paid Envelope promotion SPORTS JERSEY change jersey KEEP - CustomerSuppliers - Marketing Marketing - Eliminate risk of ServiceCustomer KEEP - OWNERS owning jersey Service - MaleUSPS/Fedex/UPS - Customer Service GROW - Referral Customer Service who is traded - Kids to Young Program Referral/ GROW – Adult 13-35 Key Resources (6) Which key resources does the biz model Reward Program require Channels (3) Jersey Inventory SINGLE GAME Through which channel does each segment want to be reached SINGLE GAME Jersey Inventory ATTENDEES Website ATTENDEES Warehouse - Cheaper way to Website Warehouse - Male and wear jersey to a Stadium Ticket Websites Female Logistics system Logistics system game Shops/Vendors - Young Adult 18- 30 Ticket Websites - Casual fanCost Structure (9) Revenue Streams (8)What are our cost drivers How much is each segment willing to pay and how would they like to pay us this amountJerseys, warehouse, shipping, cleaning, logistics Jerseys, warehouse, shipping, cleaning, SINGLE GAME ATTENDEES SPORTS JERSEY OWNERStracking, tracking,development/maintenance, logistics website website - Pay per Rental - Annual Subscriptioncustomer service employees customer service development/maintenance, $200 employees
  • 10. Launched JerseySquare.com 81 Visitors In 1st 9 hours
  • 11. With 30-Second Demo Video www.jerseysquare.com
  • 12. Our First Customer
  • 13. Our Email Blasts
  • 14. Day 5 Canvas As of: 8/31/12Key Partners (7)Who are our key partners/ suppliers Key Activities (5) Current Canvas Which key activities does the biz model require Value Proposition (1) What value do we deliver to the customer Customer Relationships (4) What type of relationship does each segment require of us Customer Segments (2) For whom are we creating valueJersey Suppliers - Rental Tracking Rental Tracking GET - Search Ads, Professional Sports SPORTS JERSEY - Shipping Shipping Partnerships, At Social FansDry Cleaners OWNERS stadium At stadium Media, promotion - Dry cleaning Dry cleaning - Flexibility toPre-paid Envelope promotion SPORTS JERSEY change jersey KEEP - CustomerSuppliers - Marketing Marketing - Eliminate risk of Service Seniority, OWNERS KEEP – owning jersey loyalty program - MaleUSPS/Fedex/UPSUSPS - Customer Service GROW - Referral Customer Service who is traded - Kids to Young Program Premium GROW – Adult 13-35 Key Resources (6) Which key resources does the biz model subs, Family plan require Jersey Inventory SINGLE GAME SINGLE GAME Jersey Inventory ATTENDEES Channels (3) Through which channel does each ATTENDEES Warehouse - Cheaper way to segment want to be reached - Male and Warehouse wear jersey to a Female Logistics system Website Website Logistics system game - Young Adult 18- Stadium Shops/Vendors 30 Ticket Websites - Casual fan Direct MailCost Structure (9) Revenue Streams (8)What are our cost drivers How much is each segment willing to pay and how would they like to pay us this amountJerseys, warehouse, shipping, cleaning, logistics Jerseys, warehouse, shipping, cleaning, SINGLE GAME ATTENDEES SPORTS JERSEY OWNERStracking, tracking,development/maintenance, logistics website website - Pay per Rental - Annual Subscription,customer service employees customer service development/maintenance, Monthly Subscription, employees One-Time
  • 15. Biggest Learning MomentsWhat We Thought Results What We Found There are two customer segments: • SPORTS JERSEY OWNERSCustomer segment is adult maleswho attend lots of games each year X o Male, Kids to Young Adult 13-35 • SINGLE GAME ATTENDEES o Male and Female, Young Adult 18-30, Casual fan Customers like our company because we provide both: • the ability to wear different jerseys throughoutCustomers will use JerseySquarebecause we are cheaper X the season • a hedge against players being traded, getting hurt, retiring, etc. Customers are actually willing to spend as much (ifCustomers will not be willing tospend as much on rental jerseys X not more) on a subscription for jersey rentals as they do on buying a jersey!There is a market for rentingprofessional jerseys! P We received payment from our first customer on Thursday, 8/30/2012
  • 16. Archetypes Attribute Gasol Junior Becky Age 32 15 24 Income $65K N/A $40KDemographics White White White Type Jersey Buyer Social Statement Social Sports Viewer Fan Type Avid In-Season Casual Class Middle Middle MiddleFacebook Status Single/It’s Complicated Single In Relationship RENTAL TYPE SUBSCRIPTION
  • 17. Unit Economics (For One Person) Year 1 Year 2 Jersey Cost(w/ 25% off) $ 150 Revenue Revenue $ 199 $ 199 Turns Turns Shipping Shipping $9 X5 Unit Costs $9 X5 Unit Costs - $ 230 - $ 55 Cleaning $1 X5 Cleaning X5 Net $1 Retention x 60 %Processing - $ 31 $1 X5 Processing X5 $1 Customer NetAcquisition $ 86 $ 25
  • 18. Current Pricing Plans (But A/B Testing for Price Elasticity) • Authentic Top of Line Jerseys Annual Subscription • Free Shipping $199 /year • Send back a jersey in exchange for anotherMonthly Subscription • Authentic Top of Line Jerseys $29.99 /month • Free Shipping • Send back a jersey in exchange for another • Authentic Top of Line Jerseys1 Time, 1 Week Rental • Free Shipping $24.99 • Send back jersey within 1 week
  • 19. Customer Relationships GROW KEEP • Customer Loyalty program • Sale of customer data with bonus rentals and • Family plan discount purchases • Premium • Seniority credits subscriptions GET • Partnership rewards and • Additional products discounts• Google AdWords • Free jersey giveaways• Guerilla style marketing on FB, YouTube, and Twitter• Customer referral bonuses• Targeted promotions Results Pending…
  • 20. Market SizeTotal (how big is 150 Million Americans watch the 5 majorAddressable universe) team sports (in some capacity)MarketServed (how many can I 11 Million NY Metro Area watch the 5Available reach with my major team sports (in some capacity) sales channel)Market Based only Yankee Stadium Research: 11.7% of SAM showed strong interest (who will be mostTarget Market likely buyers) 1.3 Million People - Half subscription / Half Pay Per Rental
  • 21. Next Steps• Teenager Customer Discovery• Customer Acquisition o More Google Adwords Testing o More Website Conversion Testing• LISTEN TO/OBSERVE OUR CUSTOMERS