EyesDecide: Marketing Strategies for Eye Tracking Software
1. EyesDecide
A Software + Webcams = Eye Tracking
MINT Case Consulting Competition @ University of Melbourne
The winner: Johan Zolkefli, Jiawen Tai, Michelle Lum, Un Leng Wat, Yilan
Hu
2. Why marketing is important to
EyesDecide?
Because the market is growing
VIGOROUSLY!!!
3. The eye tracking market size is expected to grow
from USD 183.3 Million in 2014 to 1,028.1 Million by
2020, at a CAGR* of 35.2% between 2015 and 2020.
The virtual reality market is estimated to grow from
USD 1.37 Billion in 2015 to USD 33.90 Billion by
2022, at a CAGR* of 57.8% between 2016 and 2022.
*CAGR: CompoundAnnual Growth Rate
4. SWOT ANALYSIS
Strength Weakness
Opportunities Threats
• Budget-friendly
• User-friendly
• Safe and secure in users’ privacy
• Self-explanatory environment for end-users
• Low brand awareness
• Inadequate after-sales service
• Competitors provide similar service
• Target on self-employed individuals / freelancers
• Target on startups or small & medium enterprises
• Target on companies who want to experiment
with eye tracking technology
• Not competitive enough to compete with top
companies in the industry (e.g.Tobii AB)
8. Why Should XlabsTarget the Gaming Industry?
Limitless potential in a rapidly growing industry
A future global market that will
be worth $12 billion and
currently worth $5.6 billion
A growing number of companies
such as Google, Apple and
Facebook, partnering and
funding Startups similar to Xlabs.
Virtual reality is expanding into a
global market
Predicted growth of virtual
reality head-mounted shipments
9. How will Eyesdecides matter?
A growing industry that needs your technology
Eye tracking technology
is a “critical part” of
futureVR technology
Used for simple
mechanics such as cursor
movement, aiming and
moving
Current technologies are
subpar, with poor
performances and low
usability rates
Xlabs has the advantage
of not needing an external
hardware to utilise
Eyesdecides
10. Potential threats and obstacles
Overcoming potential obstacles
Increased
competition
Poor performing and
redundant technology
Not competitors but
opportunities
No requirement to buy
external hardware
Expensive external
hardwares
OBSTACLES SOLUTIONS
11. What will be your ideal strategy?
Expos, Partnerships & that $5000 budget
Entering into
tech exhibitions
If you can’t beat
them, join them
2.5K A cheaper method of increasing
Xlabs awareness
Speak at tech exhibitions at $0
cost
Implement your technology
with existing virtual reality
headsets
Negotiate a contractual based
fee to ensure recurring revenue
An opportunity to liaise with
more than 50 companies
Increase your funds and sales
exponentially
Increase your companies
performance in every
direction
12. MARKETING STRATEGIES
Monthly or yearly packages can
be used to meet the
satisfaction of different
customers
e.g. Assumptions:
Month Rent:
6000USD~8000USD
Royalty fees:
For every unit sold, Xlabs
receives 1%
Flexible pricing
Assumption Source: Gazepoint Analysis Sofware
Marketing Research &
Building Brand Image
Step 1: Finding Target Markets
Step 2: Providing a Free Trial,
Workshops and Guidance on product
Step 3: Obtain feedback from customers
and compile a report on feedback
Step 4: Release the report to the public
and present it to other companies for
potential partnerships
Participate in technology
exhibitions
Attract the interest of writers
of publication to potentially
release an article on
Eyesdecide on popular
magazines or social media
Familiarizing software
to target audience
13. Once you work
with the company,
providing your
amazing services,
it is only a matter
of time before
other companies
here about Xlabs
and enlist in your
services
After a successful
presentation, you
can now negotiate
an appropriate
contract to ensure
that you have
recurring revenue
such as from
royalties
From the
Networking
session, set dates
for meetings to
present why the
company should
enlist in your
service
Xlabs will provide
a speaker at the
Annual Melbourne
Tech expo to
increase their
awareness and
potentially
network with
companies
DISCOVERY CONSUMPTION &
PURCHASINGONBOARDING ADVOCACY
Journey from Discovery to Advocacy
How our strategy will play out
Cost:
$2.5K = Booth
$1000 = promo flyers
$0 = to be a speaker
Expected potential
revenue:
$1.875 million
Expected potential
revenue:
$1 billion
Cost:
$Time
15. HEALTHCARE INDUSTRY –TARGET CLIENTS
• Limited funding and time
Source: http://www.tobiipro.com/fields-of-use/clinical-research/
Why Healthcare Industry ?
2014
2015-2020
29%
34.8%
OurTarget Clients
• Economical long-term tracking on
their eye problems
• Eye illnesses:
o Strabismus or amblyopia,
o Pediatric vision issues, etc.
• Neurological diseases or brain injuries
o Cognitive dysfunction or decline,
o Autistic spectrum disorder (ASD) and attention
deficit hyperactivity disorder (ADHD),
o Reading and learning difficulties (dyslexia),
o Stroke, etc
16. HEALTHCARE INDUSTRY - MARKETING STRATEGIES
• Partnership
How to do it?
• Publications of a medical profession’s or
researcher’s association ( e.g. Australian
Medical Association, Optometry Australia)
• Print promotional flyers and booklets and
mail them to clinics and optical stores
(esp. those in small to medium scale)
17. HEALTHCARE INDUSTRY - MARKETING BUDGET
Source: https://ama.com.au/sa/sa-publications
Marketing Activities Fee (AUD)
Advertise on Canberra Doctor (published by AMA) 1,200 (quarter page)
Advertise on Medical Journal (published by AMPCo) 2,800 (quarter page)
Print promotional flyers or booklets and send to clinics and
optical stores
200 (design fee) + 550 (printing fee) +
250 (postal fee) = 1,000
Total Expense = $ 5,000 (AUD)
Budget Sheet:
18. HEALTHCARE INDUSTRY - EXPECTED SALES
Expected Sales after marketing:
Based on the purchase of Launch Promo Monthly Plan ($600 AUD/per month)
Marketing Activities Expected New Users Expected Sales (AUD)
Advertise on Canberra Doctor (published by
AMA)
300 180,000
Advertise on Medical Journal of Australia
(published by AMPCo)
2,800 1,680,000
Print promotional flyers or booklets and send
to clinics and optical stores
300 180,000
Total Budget = $ 5,000 (AUD) Total Expected New Users
= 3,400 (persons)
Total Expected Sales =
$ 2,040,000 (AUD)
Earlier this year FOVE raised over $600,000 through Kickstarter and various other investors to build a virtual reality headset with integrated eye tracking technology
Deloitte Global predicts that virtual reality (VR) will have its first billion dollar year in 2016, with about $700 million in hardware sales, and the remainder from content. We estimate sales of about 2.5 million VR headsets and 10 million game copies sold.
As for VR content, we expect most revenue generated to come from games sales, with titles sold at between $5 and $40, generating over $300 million.
The fourth largest patent filer Qualcomm joined Google and others in a $542 million funding round for florida startup Magic Leap, which is working on virtual reality technology
Adding further to the eye tracking mix is Tobii, who recently announced a collaboration with Starbreeze to bring eye tracking to their 5K, 210° FOV Star VR headset.
Despite the plethora of players in the field, none of them seem to have solved the problem well enough, at least in Oculus’ eyes.
When asked about the current usability of eye tracking technologies like those from FOVE or Tobii, Luckey was unimpressed saying their usability, “currently, like today, [is] very low.”
simplest mechanic that can be built for the eyes is to use them as a cursor
Variations of this include using them to select and place chess pieces, to move the weapon cross-hair in a first-person shooter game, and to replace the mouse enabling disabled users to play
Assassin’s Creed Rogue
when the player looks at a point in the environment the character faces that direction, allowing for a more natural exploration of the environment.
Tom Clancy’s The Division
incorporates several gaze mechanics, including aiming, throwing grenades, looking for cover,
TOBII EYETRACKING SOFTWARE
Adding further to the eye tracking mix is Tobii, who recently announced a collaboration with Starbreeze to bring eye tracking to their 5K, 210° FOV Star VR headset.
2) Tech expo. Annual Melbourne connect expo, Free as a speaker (http://connectexpo.com.au/apply_to_speak.html)
Q2 2016 Facebook cost per like. $0.71USD (current 45 likes --> 2000 likes) an increase of over 4000% in likes Assuming we get 2000 likes by end of dec 2016, 500 likes/month (4 months) $1420/5000 $1,420
2) Tech expo. Annual Melbourne connect expo, Free as a speaker (http://connectexpo.com.au/apply_to_speak.html)
3) Printing Flyer 1/14 360$ prints 5k flyers (http://www.1print.net.au/flyers-printing)
4) Employee wages 256 assuming texh expo booth runs for averagely 8 hours x 2 marketers
5) Tech Expo Booth 2500 based on TGE, technology gadget expo 2017 (http://www.tgexpo.com.au/)
6) Misc. $464
7) Flyer Design $50
The prize is huge: Tobii's sales ambitions suggest an overall market for gaming eye-tracking sensors that could top $US5 billion a year in revenue, about six times the firm's market value.
2.5million copies sold at say 150 with .5% royalty = 3.75million
Headsets alone, not counting games
Medical diagnostics is expected to lead the application market of eye tracking
The medical diagnostics market accounted for 29% of market share in 2014. It is expected to grow at a CAGR of 34.8% between 2015 and 2020. This is mainly because eye tracking can be used to analyse the human brain and diseases from the eye movement.
Clinics or hospitals that conduct primary diagnosis of
Researchers with limited fund and time
Patients that requires economical long-term tracking on their eye problems
Clinics or hospitals that conduct primary diagnosis of certain eye illnesses, such as:
Strabismus or amblyopia,
Pediatric vision issues, etc.
Clinics or hospitals that conduct primary diagnosis of certain neurological diseases or brain injuries
Cognitive dysfunction or decline,
Autistic spectrum disorder (ASD) and attention deficit hyperactivity disorder (ADHD),
Reading and learning difficulties (dyslexia),
Stroke, etc.
Establish partnership with or advertise in the website or the publications of a medical profession’s or researcher’s association ( e.g. Australian Medical Association, Optometry Australia, The Association of Australian Medical Research Institutes, etc.)
Print promotional flyers and booklets and mail them to clinics and optical stores (esp. those in small to medium scale)
#We actually have thought about doing advertisement on google or facebook. But considered that the medical field is more professionally-orientated, doing advertisement on social media does not have the highest return rate in terms of revenue, but it would be a good way to promote to the general public if the company want higher brand awareness in the future
Advertise on Google search by “buying keywords” for higher website clicking rate and brand awareness
Advertise on Facebook for higher brand awareness and promoting to self-employed individuals and freelancers
AMA = Australian Medical Association
AMPCo = Australasian Medical Publishing Company
$480 USD/month (Launch Promo Monthly Plan) 600 AUD
AMA (15,000 members 2% of them 300 new users 180,000 AUD)
Canberra Doctor is distributed at no cost to all the doctors in the ACT and surrounding areas of NSW as a service to the medical community
Medical Journal (140,000 subscribers 2% (overlap with Canberra Doctor but more platform for advertisement) 2800 new users 1,680,000)
MJA is Australia’s most influential medical publication as it is cited more often in other media than any other Australian medical publication. Their subscribers do not only include doctors, but also policy-makers and researchers on all kinds of health-related field
Flyers(6,000 people 5% of them 300 new users 180,000AUD) target on clinics and optical stores higher yield percentage
