Presentation from the Solveo challenge: How will we make ‘My Great Recipes’ the leader of the digital recipe search, save and sharing space in the US market?

1. MyGreatRecipes.com
Search. Save. Share. It’s fun and easy!

2. The Toasters
Aleksandar Micev
Research
Martin Jovchevski
Coordinator
Monika Machkovska
Creative solutions
Irena Blagoeva
Quality officer

3. The problems
How to gain new
users?
How to engage
the existing users?

4. Market
 The existing target group is elderly women’s between 45-55 years.
 Our main focus is to expand this target group to younger
population.

5. Market research
 This statistic gives information
on the age distribution of
internet users worldwide.
 This is why we choose our
main target group to
be users between 22-35
years of age.
26%
27%20%
14%
13%
15-24
25-34
35-44
45-54
55+

6. Attraction and Engagement
 Our main channel for engaging new
users will be Instagram.
 Why? We think that the instagram
of MGR is not developed enough and
it can grow a lot more.
 How? Through holding weekly
competitions, posting videos, more
action on “my story” etc.

7. Solutions
Improving Instagram
 Weekly contest - The users will have to post creative food related
pictures with the hashtags #MGRweekly, #foodporn, #instafood
for a chance to win a prize. One man of the marketing team will
choose the most creative photo every Friday at 8pm EST and will
announce the winner at Saturday at 12 at noon. The prize will be
from our partners.
 Posting videos-According to a recent FB study, 64% of
respondents had watched a user-generated video review, and
more than three-quarters of that group said it helped them make
a purchase decision.

8. Instagram research
 The statistics shows that most searched instagram hashtags are:
#food-162m #yummy-53m
#foodporn-49m Instafood-39m
Delicious-31m

9. Instagram
videos
 Also, we have contacted a
freelancer that will make
videos 2 times a week.
Every video will cost 75$
to make including the
ingredients.
 On the right there’s a gif of
how this video would look.

10. Cooperation with
bloggers
 Our other channel for engaging
new users will be throught
cooperation with blogger.We
have already contacted more
then 45 food blogger and we
have some positive responses
from people that want to
cooperate with us.
 Our blog will consist of exotic
and thematic meals and
nutrition value as u plus
information.

11. Blog
research
 Why did we choose this
channel? 67,2 % of the
women that read blogs
prefer food/cooking
blogs.
 Big precent of women
who have purchased a
product based on a
favorable blog review.

12. Monetization
strategy
Cooperation with
supermarkets that
have an online shop
for groceries
Selling branded
merchandise to
raise brand
awareness
Selling ad space on
the platform

13.  Our main income will come throught cooperation with
supermarkets.This is how its gonna flow. Linking a button for our
users that can go to the supermarkets and buy the ingredients they
need.
 We will cooperate with Wegmans because they have the simular user
group as ours.
• Female
• Aged 25-64 years
• Household income of $70,000 or more
Cooperation with supermarkets

14. Possible business partnership
 We have managed to make
contact with one
supermarket that we
choosed. We leave the
choice to you.

15. Branded merchandise
 Giveaway free merchandise as a reward after purchasing from the
supermarket.
• Why?
• Engaging customers
• Good reputation for the business
• Brand awareness and Customer
loyalty
print $2.98
+shipping $1
Total $3.98
• How?
• Notify users that they get a reward for
a purchase above 49$
• Allow them to pick between 2 designs.
• Ask for address
• Print in bulk and distribute in a way
to minimize costs.

16. Branded merchandise
 Creating an online shop on our platform to sell branded T-shirts
• Why?
• Brand recognition
• Market our business
• Profit
• How?
• Sell the product on our online
shop.
• Outsource company to print
and ship the merchandise we
sell on demand avoiding fixed
costs and investment risks.
$4
$12

18. Selling ad space on the platform
Standard banner ads Content Wall
Interstitial Ads
– Full Screen

19. Financial analysis
 Average conversion rate: 3%
 Monthly visitors of MGR: 90000
 Average Online Spending per month in USA: 142$
 Average spending online in the USA on food and groceries: 84$
 Average spent money for groceries on site per month(prediction) - 40$
 Profit for MGR - 10% of every order = 4$
 2700 visitors that will buy x $4 profit of every purchase = 10800$