Woofly columbia univ jan 2014
 

Woofly columbia univ jan 2014

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    Woofly columbia univ jan 2014 Woofly columbia univ jan 2014 Presentation Transcript

    • (formerly PawPal Pets) Customized Pet Care Management Dog Walking Management System Team 28 Gil Feig Syed Huda Alice Lam Day 4 Interviews: 11 Total # Interviews: 62
    • Day 1: Business Model Canvas Key Partners Key Activities Value Proposition Customer Relationships Customer Segments • Pet supply retailers • Veterinarians • Pet insurance companies • Commission negotiations • Unified platform development and maintenance • Provide guidance and resources in pet care • Simplify the lives of pet owners • Introduce pet owners to necessary products and services they may not know about • Provide useful information • Continuously maintaining a customized experience • Initial target: New York City dog and cat owners • Eventually target pet owners in general Key Resources • Software development Channels • App Store • Website Cost Structure Revenue Streams • Platform development and maintenance • Sales and marketing • App will be free for users • Integrated advertising with revenue sharing • Licensing to big data companies
    • Day 1: Lessons Learned • What we thought o Pet owners wanted general guidance on what pet products and services to buy o Pet owners didn’t have consolidated portal for Vet & Insurance information • What we learned o Pet owners already have many resources to get pet products: Pet360.com, Wag.com, Amazon o Finding a vet isn’t a big deal, because they are comfortable with word of mouth recommendations o Pet owners did not believe we added anything new to online pet care
    • Day 2: Business Model Canvas PIVOT Key Partners Key Activities Value Proposition Customer Relationships Customer Segments • Veterinarians • Pet insurance companies • Pet supply retailers • Pet supply brands • Commission negotiations • Unified platform development and maintenance CONSUMER • Provide guidance and resources in pet care • Simplify the lives of pet owners • Introduce pet owners to necessary products and services they may not know about • Provide simple product guidance and cost-saving resources RETAILER • Provide consumer behavior information • Increase sales and attract new customers CONSUMER • Provide useful information • Continuously maintaining a customized experience for registered users RETAILER • Extend customer lifetime value • Capture market share CONSUMER • Initial target: New York City dog and cat owners • Eventually target pet owners in general • New pet owners (less than two years) • Price-sensitive, dealseeking pet owners RETAILER • Major pet store chains • General retailers (Amazon, Tractor Supply Co., WalMart, etc.) • Pet product brands Key Resources • Software development Channels • App Store • Website Cost Structure Revenue Streams • Platform development and maintenance • Sales and marketing CONSUMER • App and website will be free for users RETAILER • Integrated advertising with revenue sharing • Licensing to big data companies
    • Day 2: Lessons Learned • What we thought o Pet owners wanted a simple online aggregator of cheap pet products • What we learned o AGAIN we were told that they already have many resources to get pet products: Pet360.com, Wag.com, Amazon.com
    • Day 3: Business Model Canvas RESTART Key Partners Key Activities Value Proposition Customer Relationships Customer Segments • Veterinarians Dog walkers • •Pet insurance •companies Dog owners Doggy daycare • •Pet supply retailers • Pet supplywithout centers brands • Commission •negotiations Platform development • Unified platform •development and Advertising •maintenance Training CONSUMER DOG OWNERS • Provide guidance • Provide and resources in pet affordable lastcare minute dog • Simplify the lives of petwalking owners • Introduce pet owners services to necessary products and services they may not know about • Provide simple product guidance and cost-saving DOG WALKERS resources • Provide RETAILER additional • Provide consumer source of behavior information income • Increase sales and attract new customers CONSUMER DOG OWNERS • Provide useful • GET: Grassroots, information web advertising • •Continuously and KEEP: Quality maintainingservice affordable a customized • GROW: Referrals experience for DOG WALKERS registered users • GET: Contact RETAILER directly • Extend customer •lifetime value KEEP: Competitive rates • Capture market share CONSUMER • Initial target: New DOG OWNERS York City dog old • 20-45 year and catbusy NYC owners • Eventually target pet professionals owners in general • Income > $60k • New pet owners (less than two years) • Price-sensitive, dealseeking pet owners RETAILER • Major pet store chains DOG WALKERS • • Smallretailers General dog (Amazon, Tractor walking Supply Co., Walbusinesses Mart, etc.) • Independent • Pet product brands walking services • Background checks Key Resources • Software • Platform development development • GROW: Referrals Channels • App Store App • •WebsiteStore • Website dog walkers Cost Structure Revenue Streams •• Platform development andand maintenance Platform development maintenance • Sales and marketing CONSUMER DOG website will be free for users • App and OWNERS: Percentage of dog-walking rate RETAILER • Integrated advertising with revenue sharing DOG WALKERS: Percentage • Licensing to big data companies of dog-walking rate • Insurance • Training and background checks • Sales and marketing
    • Day 3: Lessons Learned • What we thought o Dog owners want a quick way to get dog walkers last minute(like Uber) o At a certain price point, dog walkers were willing to provide the service o We thought that this app would mediate the marketplace • What we learned o Dog owners are mostly responsible and have regular dog walkers o Many have friends and family that have their keys and can easily walk their dogs in case of emergencies o Emergencies rarely occur! o We learned what they really cared about: security
    • Day 4 & 5: Business Model Canvas PIVOT Key Partners Key Activities Value Proposition Customer Relationships Customer Segments • Veterinarians Dog walkers • •Pet insurance •companies Dog owners Doggy daycare • •Pet supply retailers • Pet supplywithout centers brands • Commission •negotiations Platform • Unified platform development development and • Advertising maintenance CONSUMER DOG OWNERS • Provide guidance • Provides and resources in pet convenient care platform lives • Simplify thefor of petfinding dog owners walkers owners • Introduce pet • Peace of mind, to necessary products GPS tracking, and services they status updates may not know about • Provide simple product guidance DOG WALKERS and cost-saving • Provide dog resources walking RETAILER that software • Provide consumer seamlessly behavior information manages dog • Increase sales and walking attract new appointments customers CONSUMER DOG OWNERS • Provide useful • GET: Grassroots, information web advertising • •Continuously and KEEP: Quality maintainingservice affordable a customized • GROW: Referrals experience for DOG WALKERS registered users • GET: Contact RETAILER directly, web • Extend customer advertising lifetime value • KEEP: Maintain • Capture market share Quality software CONSUMER DOG OWNERS • Initial target: New • 20-45 year old York City dog and busy NYC cat owners professionals • Eventually target pet • Incomegeneral owners in > $60k • New pet owners (less than two years) • Price-sensitive, dealseeking pet owners RETAILER DOG WALKERS • • Dog walking Major pet store chains businesses • General retailers without (Amazon, Tractor management Supply Co., Walsystem Mart, etc.) • • Independent Pet product brands walking services technology • Sales Key Resources • Software • Engineers development • Sales staff that increases business Channels • GROW: Referrals • App Store App • •WebsiteStore • Website dog walkers Cost Structure Revenue Streams • Platform development and maintenance • Sales and marketing CONSUMER DOG OWNERS: None • App and website will be free for users RETAILER • Integrated advertising with revenue sharing DOG WALKERS: Monthly subscription based on size • Licensing to big data companies • Platform development and maintenance • Sales and marketing of business, # of dog walkers
    • Day 4 & 5: Lessons Learned • What we learned o Small dog walkers need a system to manage their dog walkers o Dog owners would like peace of mind and value security o Competitors exist, we need to fully formulate our competitive advantage: What will do better? What will we do differently? (ex: Petcheck known for having bad customer service) o Small business dog owners are NOT cash only. Cash payment is an issue and would like a way to automatically charge dog walks on credit card. On the other hand, small business owners want a way to pay their dog walkers automatically. o Time schedules, efficient itinerary and dog compatibility are variables and would like a easy way to address this issues.
    • Customer Segments Wag NYC Doggy Day Care NYC Growing dog walking companies that need management systems to scale Doggy day cares that are branching out to dog walking services
    • Market Size: Top Down Total Addressable Market $1,800,000,000 Annual amount spent on dog walking in the USA Serviceable Available Market $158,400,000 Annual amount spent on dog walking in NYC Target Market $316,800 (w/o Activation Fee) Annual revenue assuming 5% NYC market capture and 4% revenue sharing per walk
    • Market Size: Bottom Up Our share w/ 5% of mkt & 4% commission $299,520 Dog walk rev per year (walked 3x /wk) $149,760,000 Dog walk rev per day $960,000 Rate per dog walk (30 Min) $20 # of dogs walked per day 48,000 % walked per day 8% # of dogs in NYC 600,000
    • Menu Screenshot
    • Check-in Screenshot
    • Walk Progress Screenshot
    • Next Steps • 30 Days o Further market research. What features would dog owners/dog walkers value? More Interviews! o Make MVP on website, any takers? o Take the mockups and test it in front of customers • 60 Days o o o o Depending on feedback  adjust valued-added features Further refine revenue model, assess dog walker’s WTP Test pricing on website. Which model works best? Reach out to early evangelists to see if they will buy service. If not, why? • 120 Days o Refine features on the app/website o Final Product out to market o Sales/Marketing. Get customers!