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Day 5
January 13, 2017
PlandIt
Group travel simplified
Total # of interviews: 51
Giorgi Suladze
Jake Kupperman
Poppo Hofst...
PlandIt
(Day 1)
Group-Focused
Great Planning
Photo Sharing
Split Costs
Book Directly
Consumer- Focused
Ad Revenue Model
Co...
PlandIt
Organizations3
Advertisers1
Individuals 2
$7.7B
$62M
$9.9M
77M
31M
27M
28M
10M
4M
TAM: 20-39 year-olds
who travel
...
Business Model Canvas - Day 1
# of interviews conducted: 0 (# of online surveys: 30)
PlandIt
•Blogs
•Social media /
advert...
Dictator
Dan
Moderator Liz
Value
proposition
PlandIt
Customer
Group travelers:
friends, family, &
organizations
Groups of ...
“coordination and collaborative
decision-making for each task across all
participants”
Ideas, hotel and itinerary suggesti...
• Mobile app
• Websites
- Social media
- Travel sites
- Blogs
• Individual: Free
• Advertisers: Ads & Customer data
Indivi...
$135 p.n.| Pool | Casino
Updated Wireframe addresses Top Pains
Liz proposes Embassy
Suites in San Juan.
Do you want to sta...
PlandIt
LTV CAC
Unit economics are insufficient
< $9 $10 - $20
Trip days per year 4*7 = 28
App mins per day 10
Total mins ...
Lack of financial viability
PlandIt
How do we tip the scales?
Time for a Pivot
Potentially interesting segments
based on o...
Appendix
Business Model Canvas - Day 2
# of interviews conducted: 29
•App/word of mouth
•Google Ads
•Blogs
•Social media
•Conferenc...
•App/word of mouth
•Google Ads
•Blogs
•Social media
•Conferences
•Travel sites
•Partner sites (AirBnB, SPG)
Individuals
•F...
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plandit columbia

business model, business model canvas, columbia, customer development, lean launchpad, lean startup, steve blank

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plandit columbia

  1. Day 5 January 13, 2017 PlandIt Group travel simplified Total # of interviews: 51 Giorgi Suladze Jake Kupperman Poppo Hofsteenge Anqi Yang
  2. PlandIt (Day 1) Group-Focused Great Planning Photo Sharing Split Costs Book Directly Consumer- Focused Ad Revenue Model Competitive Landscape Teams PlandIt
  3. PlandIt Organizations3 Advertisers1 Individuals 2 $7.7B $62M $9.9M 77M 31M 27M 28M 10M 4M TAM: 20-39 year-olds who travel SAM: All potential users Target market: People with mobile internet access TAM: All businesses in the US SAM: # of businesses regularly organizing travel Target market: addressable market Key insights - Total addressable revenue: $72 million - Advertising revenue upside: tentative - Growth rate for digital travel advertising: 11% Market Sizing 1. Total ad spend related to travel 2. Total potential ad revenue from users of individual group travel apps 3. Total potential revenue from subscriptions by companies and universities in the group travel
  4. Business Model Canvas - Day 1 # of interviews conducted: 0 (# of online surveys: 30) PlandIt •Blogs •Social media / advertising •The application •Age group: 20 - 39 •Lifestyle: frequent traveler •Location: urban metropolitan Millennials living in metropolitan areas with sufficient disposable income that travel in groups frequently. •Advertising •Subscription fee - commercial only •Partnerships •Customer data •Influencers Bloggers •Payment providers Venmo, Stripe •Travel sites Tripadvisor Yelp •Booking sites AirBnB •Other apps Google maps •Initial development and maintenance •User/customer acquisition/adoption •Marketing •General & Administrative costs - rent, equipment •Software development User interface •Marketing •User services ● Self-service ● Community ● Co-creation •The application •Application developers •Cloud server •Customer data •Centralized planning and coordination tool ● Simple way to plan ● Track and settle expenses •Trip-centric Two or more people •Coordinate Receive and send notifications
  5. Dictator Dan Moderator Liz Value proposition PlandIt Customer Group travelers: friends, family, & organizations Groups of students traveling together (MBA / type A focus) Everything Cost splitting, activity suggestions Collaborative decision-making Leader Maria Our Journey from Day 1 to Day 4
  6. “coordination and collaborative decision-making for each task across all participants” Ideas, hotel and itinerary suggestions and feedback, budget feedback, ... PlandIt “finding establishments that fall within everyone’s budget” “Conversations tend to shift towards other topics in WhatsApp or by email” “I need to ensure everyone is happy, but I sometimes need to make hard choices” “Non-responsiveness in group messages” Moderator Liz • 26 years old • Youngest; 2 siblings • Columbia MSc Applied Physics • Single, but is seeing classmate Ryan • Organizes the annual college friends trip • Loves to make others happy Moderator Liz and Her Biggest Problems
  7. • Mobile app • Websites - Social media - Travel sites - Blogs • Individual: Free • Advertisers: Ads & Customer data Individuals •Frequent group traveler •20-39 years old •Urban area •College educated •Group with moderating leader who plans in a democratic way Advertisers •Hotels, airlines, towns, attractions •Mobile ad platforms •Influencers •Payment providers •Cloud services provider •Other supporting apps - Google Maps - TripAdvisor - Yelp •Travel-focused blogs/forums • Initial development and maintenance • User/customer acquisition/adoption - Marketing campaigns, both paid and organic • General & Administrative costs - Rent, equipment PlandIt •User interface •Software development (new features) •Marketing •Mobile app developers •Customer data Simplify Group Trip Planning Individuals • Collect inputs from participants (polling) • Share itineraries and create events in trips • “Get everyone in the same room” to plan and make decisions quickly Advertisers • Access to frequent travelers Business Model Canvas - Day 4 # of interviews conducted: 51 Get • SEO • SEM: AdWords • Marketing campaigns • Collaboration with popular travel websites Keep,Grow: TBD
  8. $135 p.n.| Pool | Casino Updated Wireframe addresses Top Pains Liz proposes Embassy Suites in San Juan. Do you want to stay here? PlandIt Book Hotel $180 3/4 votes In process Pick Destination N/A 4/4 votes Comple ted Book Flights $450 0/4 votes Waiting Pick Dates N/A 4/4 votes Comple ted Activity Price Vote Status 1. Checklist 2. Polls 1:32 left to reply Day 1 Day 5 # of MVP feedback interviews: 6
  9. PlandIt LTV CAC Unit economics are insufficient < $9 $10 - $20 Trip days per year 4*7 = 28 App mins per day 10 Total mins on app 10*28 = 280 # of impressions 2*280 =560 Annual value $1.7 Lifetime value 5*$1.7 = $8.4 → < $9 # of downloads p.m. 50k - 200k SEM cost per click $0.50 Conversion to user 30% Sales & Marketing p.m.1 $33K - $70K Monthly cost $1.3 - $1.7 Acquisition cost ~$10 - ~$20 - Infrequent usage - Low click rate on in-app advertising - Smaller market than originally anticipated Unit Economics 1. Year 1 Sales & Marketing costs Based on 2 interviews: Travefy founder, founder successful travel website
  10. Lack of financial viability PlandIt How do we tip the scales? Time for a Pivot Potentially interesting segments based on our interviews: 1. Group travel for corporations 2. Group travel for universities 3. Location discovery for young families
  11. Appendix
  12. Business Model Canvas - Day 2 # of interviews conducted: 29 •App/word of mouth •Google Ads •Blogs •Social media •Conferences Individuals •Frequent group traveler •20-39 years old •Urban area •College educated •Female (focus) Organizations •Universities •Companies •Charities •Clubs Individuals Free Organizations Subscription fee Get - social media, SEA, SEO, blog posts, rewards Keep - monthly emails, updates Grow - incentivize individuals to sell to organizations Other Ads Customer data sales Influencers Payment providers Cloud services provider Other supporting apps - Google Maps - TripAdvisor - Yelp •Initial development and maintenance •User/customer acquisition/adoption •Marketing •General & Administrative costs - rent, equipment PlandIt Simplify group trip planning • Share trip ideas and make group decisions • Track and settle expenses • Track against budget/goals Organizations: “engagement” •Involve participants in travel planning •Simplify expense reimbursement MVP: app for individuals to like trip suggestions Cust. dev. focus Software development Marketing User support Smartphone application developer Customer data Black = unchanged Blue = new
  13. •App/word of mouth •Google Ads •Blogs •Social media •Conferences •Travel sites •Partner sites (AirBnB, SPG) Individuals •Frequent group traveler •20-39 years old •Urban area •College educated •Female (focus) Organizations •Individuals who lead large treks •Individuals who organize for their friends •Individuals who take a democratic approach to planning with friends •Companies •Charities •Clubs Advertisers •Hotel groups, airlines, governments, sights Individuals Free Organizations Groups Subscription fee Other Advertisers Ads Customer data sales Influencers Payment providers Cloud services provider Other supporting apps - Google Maps - TripAdvisor - Yelp •Initial development and maintenance •User/customer acquisition/adoption •Marketing •General & Administrative costs - rent, equipment PlandIt Software development Marketing User support Feature additions and enhancements Get - social media, SEA, SEO, blog posts, rewards word of mouth and social media Keep - monthly emails, updates notifications, travel deals, curated content, feed Grow - incentivize individuals to sell to organizations incentivize word of mouth, build a brand around group travel Smartphone application developer Customer data Relationships Business Model Canvas - Day 3 # of interviews conducted: 40 (+11 since Day 2) ⇒ Simplify group trip planning Individuals • Share trip ideas and make group decisions with polling capability • Track and settle finances expenses• Track against budget/goal Organizations: “engagement” •Involve participants in travel planning•Simplify expense reimbursement MVP: app for individuals to like trip suggestions • Collect inputs from participants • Track itinerary, expenses & updates Groups • Share itineraries and create events within trips Advertisers • Access to frequent travelers with particular focus on millennials Black = unchanged Blue = new Red = deleted

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