Team u les envies final

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Team u les envies final

  1. ContactsDay 1: 9Day 2: 17 (restart)Day 3: 62Day 4: 47Total: 135Les Envies: 126 Team U Save Big Not your parent’s reservation – helping restaurants fill empty seats, users save and feeding those in need Patrick Chang Rodulfo Prieto Fangyuan Wang
  2. Day 1 - What we thoughtIdea: Save BigProvide low income families with tools that allow them topurchase larger-size consumer goods and generate savingsthrough economies of scale
  3. Day 1 - Canvas - Finance Dedicated - Retailers platform personal - Consumer - Education Access to: assistance Mothers of Brands - Credit (card) low income - Banks - Education families - Government - Savings - Insurance account - Financial Retail + - Human Word of - Physical Mouth - Credit cost & risk - Education staff Royalties from consumer brands - Systems and brokerage (credit card) fees - Advertisement
  4. Day 1 - What we did & what we foundAfter “getting out of the building” (9 interviews) we foundthat:• The problem does not exist in the US --- though we did confirm it exists in Latin America (and possible other developing markets)• Our solution would generate “more problems” as credit could fuel consumption in non-productive goods Need to perform a Randomized Control Trial (A/B test) to test customer behavior reaction to credit
  5. Day 2 – Research new idea Platform to Mothers of low • Finance save by Microfinance income platform• Retailers having institution families in • Education• Consumer access to customer base country X Brands credit, educat (below poverty• Micro- ion and line and finance banking working in the Banks resources informal- Governme New revenue economy) nt stream- Insurance • Financial Retail + Word • Human Exclusivity – of Mouth Microfinance • Physical more market Banks share Consumer Goods Brands • Education staff • Systems Royalties from consumer brands and • Advertisement brokerage (credit card) fees
  6. Day 2 – New Idea Platform that offers daily discount deals when booking on-line reservations at high- end restaurants
  7. Market Size Total Available Market 8.3bn transactions/yr Served Available Market 1.7bn transactions (20% of transactions would entail reservation) Target Market 83m transactions (5% offer discount) $250m (@ 3$/transaction)
  8. How it works diagramDinningUser fills empty seats (3pm -6.30pm )and pays dinner (net w/discount) Restaurants Inform restaurant about reservation 30%-50% discount User Platform Make on-line reservation: User pays: Donation: • $10 per reservation, or • $0.25 - $0.5 • A discounted rate of $5 ($1 = 2 meals) if promotes site and restaurant in social media Non-Profit
  9. Day 2 – What we thought and learned Hypothesis Discovered To do • Restaurants need help filling • Confirmed • Validate our discovery with a empty seats larger one to one interview sample size • Consumers want a discrete way • Interview more channels • Overwhelming positive to save and partners • Online survey for a broader • Consumers are willing to pay to • A limit to how much they are sample save willing to pay • Test new hypothesis based on • Various options - possibly consumer feedback such as the • Consumers want to support subscription based or subscription model monthly fee rather than per social responsibility causes reservation • Social responsibility is polarizing • Consumers are willing to use – there are people who did not social media channels to care, hated it, or loved it promote in order so save more 17 • Most likely – they already share without any benefits Interviews
  10. Landing Page Wireframe
  11. Partner Page Wireframe
  12. Search Page Wireframe
  13. Day 3 – Canvas •Continually building a Users Users Users list of restaurant •Save on overall bill •Ensure they have a •Young professionals partners (including food and great experience who like fine dining •Mid to Higher – end •Improve data collection alcohol) •High end service for but are price Restaurants and marketing for •Discrete saving (no high end restaurants sensitive restaurants coupons) •Possible special •Middle income who •Grow customers • Charity partner – •Supporting social events want to experience •Intuitive/creative TBD cause as you dine fine dining but at a design reasonable cost •Indepth concept Restaurants • Benefit companies •Active social media •Help fill empty seats users for corporations •Increase social • Interested in social media awareness Restaurants responsibility causes and users sharing •Other restaurants •Restaurant partners •New avenue of willing to provide a marketing Users Restaurants discount •Social Media •Partners who offer Nonprofits •Word of mouth reservations •Another source of •Benefit sites income •Food Blogs Non-profits •Website build •Customer acquisition •Potential kick backs for premium •Users pay for the reservation restaurants to attract other restaurants •Exploring an unlimited monthly membership initially fee (subscription) •Content creation (blog / marketing) •Search revenue stream – featured restaurant •Talent to expand •Advertising
  14. Day 3 – What we did More customer contacts (62) Use some form of discount websites Do you feel cheap or think people who If you are offered a flat rate discount use discounts websites are cheap? such as 30% or 50% off, do you tend to 50 50 46 consume/spend more on dining? 39 40 50 40 40 30 40 30 19 30 20 20 18 12 20 10 10 10 0 0 0 Yes No Yes No Yes No Willing to Support Social Causes Would you be willing to share your When you make a reservation, how 50 experience or plans on your social media likely are you to commit to the 43 (facebook, twitter, etc) channels for reservation? 50 42 40 additional discount at restaurants? 40 30 40 34 30 30 24 20 13 20 15 20 10 2 1 0 10 0 10 0 0 Yes No Yes No
  15. Day 3 – What we found From end-users • Low awareness about competition (Savored) • Channel: app preferred over web page • MUST be high-end restaurants • They LOVE social responsibility cause. Would enjoy a social good counter • Some skepticism over sharing on social media sites • Disliked subscription fees From Restaurants • Have been approached by Savored but did not want to use Savored. • Hard time keeping reservations if they are done for free • Some LOVE the social media, but main driver of interest is filing empty seats • Waitresses and waiters are supportive • Providing analytics to restaurants would be extremely interesting and helpful
  16. Day 4 - Canvas Users •Continually building a Users •Social Media Users Users list of restaurant •Save on overall bill •Email marketing •Young professionals (including food and •PR from food who like fine dining partners alcohol) organizations, blogs and but are price sensitive•Mid to Higher – end •Improve data collection •Discrete saving (no Nonprofit partners Restaurants and marketing for coupons) •Customer surveys •Middle income who restaurants •Supporting social cause •Loyalty Programs want to experience •Grow customers •Gamification fine dining but at a• Charity partner – as you dine •Referrals to grow and build •Intuitive/creative credits reasonable cost TBD Restaurants design Restaurants •Cold calling, emails, visits •Active social media •Indepth concept • New avenue of •Sales force users• Benefit companies marketing • Interested in social for corporations •Increase social media awareness and users responsibility causes sharing Users •Restaurant analytics •App and web page •Restaurant partners •Help fill empty seats •Partnerships that (restaurants believe this is generate traffic Restaurants willing to provide a •Partners who offer a value proposition) •Social Media discount •Word of mouth reservations •Benefit sites Nonprofits •Food Blogs • Additional income Restaurants Non-profit •Other restaurants •Website build •Customer acquisition •Potential kick backs for premium •Users pay for the reservation restaurants to attract other restaurants •Exploring an unlimited monthly membership fee/ (subscription) initially •Search revenue stream – featured restaurant •Content creation (blog / marketing) •Advertising •Talent to expand
  17. Day 4 - What we did & what we found • More Customer Contacts: 45 • Meeting with non-profit entity with food social responsibility cause o Money is their primary need o $1 donation = 2 meals o Open to promote lesenvies.com as long as it’s done in an “elegant fashion” o Suggested local partnership (more meaningful to help your own community) o Social media advertisement is a GREAT plus • Cost experiment (Google Ad) • Referral experiment • Experiment lasted 15 hours: 3:00pm – 6:00AM • Interview with a famous Chef/restaurateur • He personally checks his social media every day and has his assistant monitor it constantly. They use it for feedback and love the buzz • Supports multiple food related cause in the city and would love to participate in a corporation that supported a cause as a main objective • Has never done a flash sale but would consider discounting for the sole reason of supporting a great cause
  18. Day 4 – What we did 100 Would you prefer discrete dining at a fine dining restaurant? 89 80 60 40 More customer contacts (45) 20 18 0 Yes No Use some form of discount websites Do you feel cheap or think people who If you are offered a flat rate discount use discounts websites are cheap? such as 30% or 50% off, do you tend to 35 29 40 consume/spend more on dining? 30 35 40 37 25 20 30 20 30 15 20 13 20 10 12 10 10 5 0 0 0 Yes No Yes No Yes No Willing to Support Social Causes Would you be willing to share your When you make a reservation, how40 experience or plans on your social media likely are you to commit to the 3635 (facebook, twitter, etc) channels for reservation? 23 25 2230 additional discount at restaurants? 2025 40 15 2920 30 1015 13 20 3 20 5 0 110 0 5 10 0 0 Yes No Yes No
  19. Day 4 - What We Found in Experiment #1(Google ad words)Google Ad Range Clicks Impress Clickthr Avg Cost Convers Cost/Co Converswords ions ough Cost ion nversio ion rateMetrics rate per n per Click click181 $0.60 - 116 46,191 0.25% $0.70 $81.45 5 $16.29 4.31%variations $1.10 Sample words included NY Reservations, NYC Restaurant Reservation, Fine Dining NYC, and NYC Reservation Nonprofit Experiment lasted 15 hours: 3:00pm – 6:00AM GOOGLE IS EXPENSIVE!!!!!!
  20. Day 4 – Referral Program (Experiment #2) Offered $10 dollar credit for every 5 referrals that sign up 690 clicked the unique URL 39 Signed up Conclusion: Cheapest and Fastest
  21. Day 4 – Traffic and ConversionChannels Avg Website % Clickthough Clickthrough % Conversion Conversions Traffic rates rates Per MonthLocal Nonprofit 10,000 15% 1,500 3% 45Partner (CityHarvest, FBNY, orEtc)Nationwide 100,000 20% 2,000 3% 60Nonprofit (UnitedWay, Share ourStrength)Employee Benefit 500,000 1% 5,000 5% 250Portals*Google Ad Words 116 4.31% 5Mailing list from Mailing list size 5% 750 1% 7food partners average in NYC(yelp, opentable) metro area: 15,000Referral Program 690 on first day of Assuming pace Hits per month 5.5% 341 experiment x 30 dies down by 70% 6,210TOTAL: 630,700 15,576 4.5% 708 Excludes mailing list Assumptions based on industry average *Employee benefit portal does not account for one time joining notification Does not account for word of mouth or family and friends
  22. Day 4 – Revenue and Cost per Month TotalRevenue Sign ups: 708 Average Reservations Average Price per $4,248 per Month: 2 Reservation: $3Website Hosting $50Sales Force $1,000Premium Restaurant $100PartnershipsPartnerships* $1,000(employee benefitsites)Marketing (Google $200adwords, GuerillaMarketing, etc)Other Administrative $100CostBottom line $1,798 (42%)Donations $0.50 per 708*2 = 1,416 -$708 reservation =$1,090 (26%) *Partnership is an estimate Average Reservation per month is low but the number of users using it is high
  23. Day 5 - Canvas Users •Continually building a Users •Ambassador Program Users list of restaurant •Save on overall bill •Social Media Users •Young professionals (including food and •Email marketing who like fine dining partners alcohol) •PR from food organizations,•Mid to Higher – end •Improve data collection but are price sensitive •Discrete saving (no blogs and Nonprofit partners Restaurants and marketing for coupons) •Customer surveys (See following slide) restaurants •Supporting social cause •Loyalty Programs •Middle income who •Grow customers •Gamification want to experience• Charity partner – as you dine •Referrals to grow and build •Intuitive/creative credits fine dining but at a TBD design Restaurants reasonable cost Restaurants •Indepth concept • New avenue of •Cold calling, emails, visits •Active social media• Benefit companies marketing •Sales force users for corporations •Increase social media awareness and users • Interested in social sharing responsibility causes •Restaurant analytics •Restaurant partners •Help fill empty seats Users (restaurants believe this is willing to provide a •App and web page Restaurants a value proposition) discount • High-end Restaurants Nonprofits • 1:1 Non-profit • Additional income • Food related •Website build •Customer acquisition •Potential kick backs for premium •Users pay for the reservation restaurants to attract other restaurants •Exploring an unlimited monthly membership fee/ (subscription) initially •Search revenue stream – featured restaurant •Content creation (blog / marketing) •Advertising •Talent to expand
  24. Customer Segments (Archetype) Users Restaurants NonprofitYoung Working Higher end Fine Dining Food Related NonprofitProfessionals • Range of price per • Attacks food issues• Age: 22 – 39 main course $20 - $50 • Hunger• Income: $60k - $200k • Takes reservation • Eating Healthy• Price Conscious • Has a need to fill • TBD: National or Local• Food Enthusiasts empty seats• Dines out 1x-3x a Examples week at a Fine Dining • City Harvest • Slow Foods Establishment Not our target • Share our Strength • Ultra high end and • Food bank of New YorkMiddle Income popular restaurants • NY coalition against hunger• Age: 22 – 39 • • Eleven Madison City Meals on Wheels• Income: $60k - $200k • Feeding America Park• Dines out at nice • TABLE FOR TWO USA • Gramercy Tavern • United Way of New York City places infrequently but • Per Se • Wellness in the Schools would like to splurge • New York Coalition for for special occasions Healthy School Food • Just Food (New York City) • Plumpy’nuts
  25. Customer Relations • GET • Ambassador / Referral program • Social Media Marketing • Word of Mouth • Employee Benefit Partnership websites • PR from Tech blogs, News Agencies, Food Bloggers, nonprofit organizations • Guerilla Marketing • Restaurants: Cold Calling, Restaurant Visits, Sales Force • KEEP • Loyalty Program • Gamification • Positive experience • Restaurants: Positive Experience, demonstrate value add with customers and social media buzz • GROW • Referral Program • Word of Mouth • Social media buzz through the additional discount provided per social media share • Restaurants: Word of Mouth, positive experience, demonstrate value add to other potential restaurants
  26. Marketing Plan – Halo Effect invites you to discover a delicious way you can help feed those in need By making your dinner reservations at lesenvies.com you not only get valuable discounts to high-end restaurants in NYC, you also support United Way’s Hunger Prevention & Nutrition Assistance Program This method may not generate direct hits but it will hopefully create a halo effect and positive word of mouth
  27. Marketing Plan (cont.) • Search for “earlyvangelists” in [United Way’s] member database • Advertise the lesenvies.com & United Way Partnership (not lesenvies.com by itself!) o Launch event hosted at a very high-end NYC restaurant – media, press release, etc. o Advertise partnership in top food blog site – e.g.101 cookbooks, 80 breakfast, etc. o Food celebrity that already supports United Way likes lesenvies.com & United Way partnership
  28. Marketing Plan (cont.) • Ambassador / Referral program: Users are given a unique URL which they share and is tracked for each visit and sign up conversion. We provide $10 credit for every 5 sign ups. • Partner with benefit websites offered to large corporations • Partner with Celebrity Chefs • Social Media Campaigns on all channels • Possibly one feature nonprofit that we partner with a month on top of our main cause • Special events such as tasting events • Food / Online blog
  29. Next Steps WE WILL CONTINUE WITH THE IDEA!

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