Love your layover - Lean Startup Machine NYC
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Love your layover - Lean Startup Machine NYC

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FInalist presentation for Lean Startup Machine NY on April 03, 2011

FInalist presentation for Lean Startup Machine NY on April 03, 2011

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Love your layover - Lean Startup Machine NYC Presentation Transcript

  • 1. ProblemTravelers with layovers are... bored uncomfortable trapped feel unsafe lost have pets hungry have hygiene needs tired have medical needs lonely have kids unconnected want to be entertained, bogged down by luggage have to reschedule travel.
  • 2. Market Sizing3.6B airline passengers annually1.8B layoversMost layovers are short, but potential value of thecustomer increases as does the length of the layoverEstimate of layover distribution: 78% short (<5 hours), 19%Mid-length (5-7 hours), 3% Long (>7 hours)Estimated value of each converted customer: $1 Short, $5Medium, $10 LongTotal Market size (ads only): $35M/yr, with "mid-length"layovers representing $16M (47%)
  • 3. Potential CustomersVacation travelers: Assumptions:• Flying solo Open-minded• With a friend/spouse Foodies• With kids or pets AdventurersBusiness travelers: May have dietary• Flying solo restrictions• With colleagues Culturally oriented• With non-business flyers Goal oriented Seeker vs serendipitous style Travel regularly
  • 4. ParametersAmount of timeTime of dayBudgetAirport amenitiesLack of city infoTransportationNeed to reschedule/delayedIn home country or notTraveling party
  • 5. How customers currently tackle layoversSeek advice on forums beforehandSleepSuffer through itRead/watch moviesWalk the terminalAsk a hotel conciergeJust wing it/solo exploration
  • 6. Assumed SolutionsCrowd-sourced research hubService provider/matchmakerLocation-specific dealsPaid app that doesn’t require connectivity
  • 7. Revenue HypothesesAdvertising, tourism boards could be a key customerCoupons from in-airport businessesPaid iPhone appPlan itineraries for those who do have time to leavethe airport, with a booking fee
  • 8. Key assumptionsThere are many long layoversLong layovers are plannedBusinesses in the airport want to give dealsTourism boards have ad moneyConsumers are the more likely users instead of businesstravelersWillingness to escapeAirports and vendors will work with usPeople are interested in doing things outside the airport
  • 9. Customer Discovery PlanInterview both vacation and business travelersInterview people in line at tourist attractionsSearch Twitter for "layover", @ travelers, ask to chatOnline SurveyCraigslistTravel forum postsResearch stats on layovers Are most layovers planned or not? Are there more layovers in the US or internationally?
  • 10. On-the street InterviewsApproached people in UnionSquare and in line at TimesSquare. People often read, slept, ate or shopped during layovers They wouldn’t leave Most people said they would try to find a bar New Yorkers hate talking to strangers
  • 11. Twitter Findings23% of users contacted responded, 13% engageddeeply (multiple correspondences)The need spans geographic boundaries: Respondentswere in at least 11 different airportsThose who engaged planned to fill their time otherwisewith a variety of activities: Reading, Shopping, Eating,Watching movies, Watching in-terminal TVMost respondents were NOT open to leaving the airportMany people on Twitter (respondents or not) headstraight to the bar at airports to pass the time
  • 12. 386 Visitors 17 Conversions429 views 4.4% Conversion
  • 13. Landing page results~5% conversion rateGeographic distribution of layover: 40% Domestic 60% InternationalWhat people want to do while on a layover:Rest 11 peopleFreshen up 6 peopleFind local flavor 7 peopleSocialize 4 peopleExplore out 4 people
  • 14. Find the whole survey at bit.ly/loveyourlayover
  • 15. Acting on the Survey ResultsFrom the surveys, we learned.... Users would prefer to our product as an app Users wanted suggestions based on the length of layover Users arent likely to leave the airport because of fears of getting caught in security If they did leave, it would be for a layover of greater than 5 hours, and usually on international stops Users seemed most interested in resting, drinking alcohol or eating over their layover
  • 16. Survey results
  • 17. Second App
  • 18. Test Airport: NewarkOne of the worlds busiest airportsHas some of the most delayed flights internationallyMost tweeted about in the context of a layover