LoveThis Overview 27.11.2012
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Description of the LoveThis business and customer proposition
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LoveThis Overview 27.11.2012
- 1. Never Forget A Recommendation Again Alexis Dormandy
- 2. The Customer Problem: What should I book/try/buy?.... Too many sources Sources not known and not trusted Time consuming Reviews not Recommendation
- 3. … I only really trust my friends… Source: Nielsen Trust Survey
- 4. …what I need is a place to remember my recommendations and share them with my friends = + +… … for recommendations
- 5. LoveThis: Website & iPhone Save Send Find
- 7. The competition don’t deliver the basic solution to the problem Competitor Product Comparison Social Functions Required To Be A Friends' Recommendation LoveThis Email Evernote Yelp? Qype? Recommendation Service Apps** 1) Recommend anything Yes Yes Yes No No 2) To anyone (not just other users) Yes Yes Yes Yes No 3) Search recommendations to find one you need Yes No* No No No Search your own recommendations Yes Yes Yes Bookmarks No Can view all other friends recommendations Yes No* If sent to you Yes Yes Search friends recommendations Yes No No Bookmarks No Filter friends recommendations Yes No No No Only by category By friend Yes No * No No No By category Yes No No No Yes By keyword Yes No Yes No No View on map Yes No No Yes No * Emails are searchable, but only the ones sent directly to you, and only if you can remember the name of the recommendation or person ** e.g. Stamped, CircleMe, Get Glue
- 8. Awards • Top 20 British Tech Startups 2012 – TechRadar • Future 50 Most Disruptive Brands in UK - Real Business • Finalist HSBC Startup of the Year 2012 Awards
- 9. Revenue Models Social Commerce Customer + Data & Insight B2B
- 10. Building a valuable business LoveThis Who is this valuable to? knows: Who is Who is trusted trusted ◄ The obvious (Facebook, Google ? etc) What will ◄ Data businesses (Nielsen, people Experian) buy? ◄ Media companies (content Who buys what? distributors and advertisers) ◄ Internet Businesses in adjacent Who to market to, markets (e.g. Yelp, Tripadvisor) with what offers? ◄ Large Retailers (e.g. Amazon) What media those people will use? What is recommended and to whom?
Editor's Notes
- ----- Meeting Notes (14/09/2011 12:42) -----Vast amounts of information - most of it of dubious valueNot known or trustedTakes a long time: - Over a hour to find a new restaurant - Day and a half to find a hotel
- SHOW ONLY BARS
- Data is incredibly valuable:We will have areal time picture of Each users friends across their social networks and emailFor each productWho is recommending and who is followingCan see recommendations move across the customer baseIncredibly valuable for brand owners Have a customer who used to be beauty editor at a New York magazineShe makes recommendations, you can see everyone follow themSome of these things are well known and predictable, some of them aren’t.That information is valuable to everyone from L’Oreal to beauty product retailers to investorsThen other financial models layered on top:Small businesses that survive on word of mouth – we’re ideal for themHave talked to all the big directory businesses. All want to do a deal.Advertising – obvious fall backTalks with charge card providers who would like to offer deals against particular recommendationsBut: model built just around the former, though we will definitely do the data.