Download to read offline
Uploaded byAlice Yu-er Liu
Capstone final presentation deck_ final
- Millennials represent 14.4% of the 7.5 million domestic visitors to New York each year. The document estimates that acquiring 2% of the 1.1 million millennial market would result in around 21,700 new users. - Domestic travel spending in New York state was $44 billion in 2015, while international spending was $30 billion. - A marketing budget of $79,000 is projected to generate around 22,500 new users, with around 66% of the budget going towards social media ads like Facebook, YouTube, and retargeting campaigns.
Capstone final presentation deck_ final
- 22.
- 23. Percentage of millennialsin NY domestic visitors
- 24. Target size calculation •Average US millennials travel to New York: 7,548,000 people • 14.4% of them have demand for personal guide: 1,086,912 people • Tourific! Expect to acquire 2% market share: 21,738 people
- 25. Travel spending • USdomestic markets supplied 70% ($44 bn) of the New York State’s traveler spending base in 2015. • International markets represented 30% ($19 bn) of the spending base.
- 26. Marketing Type Budgets BenchmarksResults: Users Social Ads 66% Facebook news feed ads mobile $27,000 -CPC $0.29 -Conversion 5% Clicks 93,103 New users 4655 YouTube bumper ads (6 secs non- skippable ads) $24,600 - CPM $2.46 - Conversion rate 0.08% New users 8,000 Google Ads 26% Display ads $20,436 --CPC $0.24 -Conversion 3% Clicks 83,333 New users 2,499 Retargeting 7% Adroll $6,000 -CTR 0.38% -Conversion 6.9% Reach 19,069 Clicks 72,463 New Users 5,000 Email marketing 1% MailChimp $1,000 -Click-to-open rate 6.3% -Promo code redemption 38.4% Email sent 95,072 New users 2,300 Total (20% of the revenue) $79,036 22,454
- 27.
- 28. Financials 2017 Worst Most likelyBest Number of Domestic travelers to NY 40 million 44.4 million 60 million Target customer size 19,584 21,738 29,376 Gross profit (2% market share) $157,466 $182,237 $337,824 Expenses $283,304 $293,136 $318,907 Net income $(125,838) $(110,899) $18,917
- 29.
- 30.
- 31. P/L Projected Three-Year IncomeStatement Summary 2017 2018 2019 Gross profit 182,237 337,240 367,878 Expenses 293,136 294,483 313,384 Net Income $(110,899) $42,757 $54,494
- 32. Management team Chief of partnership Marketing/PR CEO/CFO Product Manager Localsand travelers support Inspiration board maintain Customer Service Finance Web/app developer Graphic designer IT
Editor's Notes
- #2 Imagine you’re gonna plan a trip for your next vacation
- #3 So, imagine you’re gonna plan a trip for winter break Does this look familiar to you? Clicking around and browsing all these pages in order to plan a perfect trip
- #4 Over 40% of travelers say they bounce back and forth between dreaming about and planning their next trip—zooming in on the details for one destination and then zooming out to reconsider all the options again.2 more and more of the time spend on research The market research shows that people spend on average months and more than 30 hours visiting dozens of websites, reading reviews, purchasing guidebooks to plan a single vacation.
- #5 Besides searching for flights and hotels Spend more time on searching local activities and experience what you want is not only the most iconic attractions but also the most authentic experience Where locals go for great booze and amazing view, and places locals hang out After searching around 30 hours, This is the time you’ll think, it would so great if I have a friend or relative there
- #6 Tourific! -Take advantage of Sharing economy -connect travelers to local insiders, together travelers can spend less time on planning but experience the most authentic culture and -travel guide can only take you so far, there’s no better way to understand a culture than to knowing its people -locals can meet different people have same interest -We’re gonna Make your travel planning process less painful Because planning trip should as fun as what you post on facebook right? Price Our tour cost average 100 per person and takes around 3 hours, which is similar to our competitors But while
- #7 Our web developer will include FB messenger API in the website so that users can receive travel information whenever they go. Search by interest, location, or party of people
- #8 54% of leisure travelers say that pictures of a destination are important when choosing where to go.6 Browse and get inspiration Also book directly from the cards too
- #9 And we’re gonna start from New York. We want start small and do a good job. goal: Go to place for unique new york travel expereince word of mouth will help us spread the word.
- #11 According to New York times The increased tourism has made some parts of the city very crowded , especially in Manhattan, there is now an emphasis on getting tourists to explore other boroughs. Among our target customers
- #12 competition separate by Although airbnb doesn't have tours in New York, but we include it here because we know they are very aggressive and competitive player in the industry, and we want to let you know we are aware of the situation.
- #13 Target US millennials Meet christina and ryan -They are open to sharing economy. -they view travel as a life attitude not just for luxury leisure. Millennials are always looking for unique and memorable experiences. They enjoy visiting cultural/historical sites, - likelihood of splurging on areas such as activities, and entertainment, -they sometimes don’t where to go, so they rely a lot visual inspiration, such as photos and videos of good food, interesting destinations, and unique experience. Youtube
- #14 Among all the domestic travelers to New York So that we get around 1 million of the target size
- #15 Marketing we expect to get 2% market share So Our goal for market plan are: Searching YouTube:subscriptions to top travel channels on YouTube have increased 106% YoY.8 And these subscribers watch 86% longer per view than nonsubscribers do.9 They‘re also extremely interested in hearing real-life stories. Nearly half of the travel subscriptions are to vlogs (video blogs) that feature personal travel experiences. Vlog suggesting they have more of an interest in "authentic" content. Mostly restaurant, beauty&spa, food and drink
- #16 Marketing According to Google, this is customers decision process in terms of travel planning Our strategy is to appear on every digital touchpoint our potential customers may reach during the process: Such as breweries, artists, and maybe with long island travel insider Paule Anne
- #17 Marketing expense Spend most of the money on social ads. Followed by display ads, Retargeting and email 20% of the revenue The competition is intense, so we want to be aggressive enough to get the market share we want at the first year
- #18 Financial projections Besides marketing, we focus a lot on website development on the first year, the result shows at the bottom line here. But in the next two following year, we’re expecting positive and steady growth
- #19 Financial projections
- #20 Seeking So I’ve registered as a local at one of the competitor's website, one of the most asked question besides safety concern is “ are New Yorkers rude?” I think people don’t know New Yorkers very well
- #21 Seeking three hundred thousand It’s time to Rebuild the reputation and show visitors another side of New York New York is not just about time square and statue of liberty
- #22 Thank you Lets make Tourific a go to place for “UNIQUE” “New York” travel experience
- #23 appendix
- #26 The increased tourism has made for some very crowded parts of the city, especially in Manhattan, Ms. Glen acknowledged. That is why, she said, there is now an emphasis on getting tourists to explore other boroughs.
- #27 Awareness Acquisition I can get this much of users!!!!!!!
- #29 Worst: lowest over the past 7 years http://www.nycandcompany.org/research/nyc-statistics-page
- #32 p&L in appendix