This document describes tests conducted for a project called FreshEntrepreneurs2014 involving the creation of a menu service called TransMenu. Various hypotheses were tested regarding effective channels and revenue streams for TransMenu. Two landing pages were created and distributed on blogs, achieving a 12.3% conversion rate and validating direct online service. Email marketing to restaurants obtained a 23% conversion rate. Posting to social media pages achieved a 12% conversion rate, validating it as a complementary channel. However, surveying restaurants found that only 42% would pay a monthly fee, failing to validate that revenue stream. Follow-up interviews found that 80% would pay quarterly, validating a pivoted hypothesis.

1. Lean Entrepreneurship Project
FreshEntrepreneurs2014
World Menu
Session 8
Pauline von Nostitz 152113321
Pedro Mariz 152113366
Maria Murasheva 159114599

2. Component: Channels
Hypothesis
Hypothesis Service can be offered directly (no intermediaries)
to clients through a website as nowadays people
accept online services easily.
Test Creation of two different landing pages with a call
for action (enter email address) and sending it to
numerous restaurants / post it on blogs (scoop.it,
Quora, Hacker News).
Validation Achieve a conversion rate of 10-20%.
Result A conversion rate of 12,3% was reached and
therefore the hypothesis can be considered as
valid.
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3. Landing Pages I
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4. Landing Page II
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5. Creating traffic - Scoop.it
http://www.scoop.it/t/transmen
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6. Creating traffic - Quora
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7. Creating traffic - Hacker News
https://news.ycombinator.com/user?i
d=Transmenu
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8. Channels – Rank & Select
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9. Component: Channels
Hypothesis
Hypothesis Direct E-Mail Marketing as the main channel.
Test Creating of Email introducing TransMenu including
a link to one of the landing pages and sending it to
13 restaurants (most popular ones in Lisbon
according to Trip Advisor).
Validation Achieve a conversion rate of 10-20%.
Result A conversion rate of 23% (3/13) was reached and
therefore the hypothesis can be considered as
valid.
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10. Direct E-Mail Marketing
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11. Component: Channels
Hypothesis
Hypothesis Social Media as complementary marketing
channel.
Test Post link to landing page onto Facebook pages of
restaurants. Send private message to restaurants
containing information about TransMenu.
Validation Achieve a conversion rate of 10-20%.
Result A conversion rate of 12% (6/50) was reached and
therefore the hypothesis can be considered as
valid.
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12. Social Media I
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13. Social Media II
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14. Hypothesis
Component: Revenue Streams
Hypothesis Restaurants will be willing to pay a monthly
maintenance / change fee.
Test Conduct 24 interviews with restaurants, which are
located within touristic areas and offer medium to high
priced food & beverage.
Validation If survey results show at least 65% of restaurant
owners would accept a fixed monthly maintenance
fee.
Result Only 42% (10/24) participants stated they would be
willing to pay monthly maintenance / change fee and
therefore the hypothesis can NOT be considered as
valid.
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15. Hypothesis - Pivoted
Component: Revenue Streams
Hypothesis Restaurants will be willing to pay a quarterly
maintenance / change fee.
Test Conduct 5 follow-up interviews with restaurants,
which are located within touristic areas and offer
medium to high priced food & beverage.
Validation If survey results show at least 65% of restaurant
owners would accept a fixed monthly maintenance
fee.
Result 80 % (4/5) participants stated they would be willing to
pay quarterly maintenance / change fee and therefore
the hypothesis can be considered as valid.
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