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Present Bee!


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This was our final presentation for the Northwestern University Venture Challenge Competition

Published in: Technology, Business
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Present Bee!

  1. 1.<br />
  2. 2. Gifting is all around us<br />$3.2 Billion<br />In Annual Online Gift Purchases<br />
  3. 3. No one likes to give bad gifts…but it happens frequently<br />Are you serious?<br />
  4. 4. Christmas<br />64,548<br />150,000+<br />Gifting Questions posed<br />Birthday<br />47,398<br />Wedding<br />16,173<br />Valentine’s Day<br />13,690<br />Anniversary<br />9,938<br />Mother’s Day<br />7,264<br />Baby shower<br />4,403<br />Father’s Day<br />Graduation<br />4,385<br />4,171<br />Easter<br />House warming<br />Halloween<br />Baptism<br />1,030<br />734<br />687<br />Bat-Mitzvah<br />625<br />365<br />Annual Celebration<br />Holidays<br />Special Events<br />4<br />
  5. 5. Present Bee is revolutionizing the gift giving <br />process by making it simple, social and fun<br />Goal: Help you give better gifts with less stress and more social proof<br />
  6. 6. The Gift Giving Process<br />Idea Generation<br />Selection<br />Purchase<br />1<br />2<br />3<br />
  7. 7. Present Bee powerfully combines:<br />Group Gifting<br />Gifting Advice <br />from Social Networks<br />Intelligent Gift Suggestions<br />3<br />2<br />1<br />
  8. 8.
  9. 9. 2 days away<br />5 days away<br />6 days away<br />7 days away<br />
  10. 10. 2 days away<br />5 days away<br />6 days away<br />7 days away<br />
  11. 11. anielle<br />d<br />2 days away<br />5 days away<br />6 days away<br />7 days away<br />
  12. 12. 2 days away<br />5 days away<br />6 days away<br />7 days away<br />
  13. 13. Buy<br />Buy<br />Buy<br />Like<br />Dislike<br />Like Dislike<br />Like Dislike<br />Buy<br />Buy<br />Buy<br />Like Dislike<br />Like <br />Like Dislike<br />Dislike<br />
  14. 14. << Back >> More ideas<br />Buy<br />Buy<br />Buy<br />Like<br />Dislike<br />Like Dislike<br />Dislike<br />Like<br />Buy<br />Buy<br />Buy<br />Like Dislike<br />Like <br />Like Dislike<br />Dislike<br />
  15. 15. +1<br />Like <br />Dislike<br />Like Dislike<br />Like Dislike<br />Like Dislike<br />Go<br />Like Dislike<br />Like Dislike<br />Like Dislike<br />
  16. 16. +4<br />Buy<br />Like <br />Buy<br />Dislike<br />or<br />Buy with Friends <br />+3<br />Like <br />Dislike<br />
  17. 17. Kindle Wireless Reading Device<br />Invite Friends<br />Search for a friend<br />Hey if we all chip in $20 we <br />can get Danielle a Kindle! <br />Let’s do it!<br />Go<br />Zach Ciszonx<br />Jeff Eidenx<br />Adam Mallingerx<br />Hugo Forte x<br />Danielle T. x<br />Steve Hoffman x<br />
  18. 18. Chip In <br />$60 / $139.99<br />
  19. 19. Write a comment…<br />Amount Chipped in<br />Chip In<br />$60 / $139.99<br />$10.00<br />Name<br />Who’s Invited<br />Participants<br /> Ask Friends<br />Address<br />Card #<br />Card Type<br />Chip in! <br />$10.00<br />$10.00<br />$10.00<br />$10.00<br />You will not be charged unless $139.99 is raised<br />$20.00<br />
  20. 20. Chip In <br />Success! Item shipped<br />
  21. 21. Gift Reminder and Suggestion Emails<br />
  22. 22. Upcoming Gifting Event Email Notifications<br />
  23. 23. Social Commerce is Exploding in Growth<br />Source: Booz and Co., 2011<br />
  24. 24. The market is experimenting with social gifting, but no comprehensive solutions currently exists<br />Idea Generation<br />Selection<br />Purchase<br />1<br />2<br />3<br />
  25. 25. A Typical Present Bee User<br />Laura and her friends are extremely active in:<br />Sharing Online via Social Media<br />1<br />Gift Giving<br />2<br />Laura Brown<br />Online Shopping<br />3<br /><ul><li>26 years old
  26. 26. Advertising Executive
  27. 27. Uses the Internet to manage her personal life </li></li></ul><li>Customer Acquisition<br />
  28. 28. How Will We Generate Revenue?<br />
  29. 29. Current Customer Acquisition Cost<br />Mid-term Life time value of User<br />Cost per user: $.331<br />Total revenue per user per year: $2.03<br />
  30. 30. Future Customer Acquisition Cost<br />Future Life time value of User<br />Cost per user: $.149<br />Total revenue per user per year: $3.57<br />
  31. 31. Team<br />Jeffrey Eiden- President, Present Bee. Intern at Early Stage Venture Partners.<br />Chris Sell- Frontend developer/ UI Lead. Founder of Grew cumulative sales of $30,000 in 2 years.<br />Stefan Birrer- CTO, PhD, Northwestern University in peer to peer computing. Founded Dosensio, Inc. and Neokast LLC.<br />Hugo Forte– Former senior engineer at Echo Logistics and Media Bank. Former developer at Neokast LLC and current lead developer at<br />Paul Olczak- Ph.D – Electrical Engineering and Computer Science, machine learning specialty.<br />
  32. 32. Present Bee Advisory Board<br />Mike Marasco<br />President of Northwestern’s<br />Farley Center of Entrepreneurship<br />Brad Morehead<br />Cofounder of Wildcat Angels<br />Steve Olechowski<br />CoFounder of Feedburner<br />Doug VanDerMolen<br />Lead UX for Google Analytics<br />
  33. 33. Moving Forward<br />Improving Gift Suggestions<br />Group Payment<br />Retail Partnerships<br />
  34. 34. Questions?<br />
  35. 35. The Evolution of Present Bee<br />
  36. 36. Target Market<br />Empowered Women give about 17 gifts per year, with close to 45% being bought online. The tables below show data from an internal survey of one hundred women between the ages of 25-50:<br />
  37. 37. Target Market<br />Empowered Women are Influencers and Share Online more than other online adults. Considering their frequent gifting behavior, these women are an ideal subgroup to use and recommend Present Bee<br />Source: Forrester Reports<br />
  38. 38. Customer Retention<br />Current Stats:<br />Returning Users: 23%<br />Active weekly Users: 12.6%<br />Customer Retention Goal: <br />Increase weekly active users to 50%.<br />Actions:<br />Update emails for upcoming birthdays, holidays, times of celebration: current 3.6% re-engagement weekly.<br /><ul><li>Goal: Raise re-engagement 15% week with smarter and more frequent updates.</li></ul>Notification emails for activity on site.<br /><ul><li>Goal: Raise re-engagement 25% weekly with notifications of activity.</li></ul>Create Group Gifting functionality.<br /><ul><li>Goal: Raise re-engagement 10% weekly through group gift invites.</li></ul>Ad Retargeting<br /><ul><li>Goal: Raise re-engagement 2% weekly and brand recognition amongst current users. $.936 per user per year.</li></li></ul><li>Facebook Usage by Age/Gender<br />
  39. 39. Data<br />Data on the hottest gifts by demographic up to 3 weeks before holiday season.<br />Value to retailers: <br />Allocate online ad spend smarter.<br />Advertise hot gifts and associate them with a brand.<br />Change ad spend to networks with demographics discussing their products.<br />In store management<br />Alter in store displays to highlight popular gifts by section.<br />Increase stock of popular gifts if possible.<br />
  40. 40. Retailers<br />H & M<br />Forever 21<br />Nordstrom<br />Sephora<br />Louis Vuitton<br />Crate and Barrel<br />
  41. 41. << Back to Danielles’sBuzzlist<br />1 item added to Danielle Tenenbaum’sBuzzlist<br />Mixing Bowls<br />$36.95<br />Champagne Flutes<br />$19.99<br />Wine Glasses<br />$11.95 each<br />Cayenne Umbrella<br />$295.99<br />d<br />Personalized Gift Ideas from Crate and Barrel for…<br />Danielle Tenenabaum<br />Jen thinks Danielle would like:<br />Glass Containers<br />$79.99<br />x<br />You added the Espresso Machine to <br />Danielle Tenenbaum’sBuzzlist. <br />Katy thinks Danielle would like:<br />Espresso Machine<br />$299.95<br />Bamboo Bread Box<br />$39.95<br />Artesia Tray<br />$29.95<br />Tea Pot<br />$36.95<br />Wine Opener Set<br />$49.99<br />Like Dislike<br />Like Dislike<br />Like Dislike<br />Like Dislike<br />+10 honey points<br />Cancel<br />Bridget thinks Danielle would like:<br />Coffee Maker<br />$89.99<br />Woven Basket<br />$59.99<br />Metallic Leaf<br />$19.95<br />Travel Sudoku<br />$14.95<br />Agave Centerpiece<br />$69.95<br />Like Dislike<br />Like Dislike<br />Like Dislike<br />Like Dislike<br />More<br />
  42. 42. Let’s Gift It API<br />Present Bee passes product info to LetsGiftIt<br />Present Bee user is taken to LetsGiftIt Group Gift page for selected item from Buzzlist<br />User invites mutual friends/family members<br />
  43. 43. Hunch API<br />Send interests of Present Bee users to Hunch server.<br />Receive product recommendations by category in json from Hunch’s algorithm.<br />
  44. 44. Making Smarter Recommendations<br />Top 100 Facebook Interests<br />Relevant Amazon Browse Nodes<br />
  45. 45. User Growth<br />
  46. 46. Financials<br />
  47. 47. Initial Success<br />1,132 users, 700+ active this month thus far<br />30 purchases ($20 average)<br />27,000 + page views since launching the site<br />Average user visits 3+ buzzlists on first visit<br />12.5% signup rate<br />