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Team Dynamo

Interviews: 252. Partner: 10. Survey: 76. Team Dynamo. Final Presentation. THE TEAM. PICTURE. Megh Gautam MS&E MS BTech in IT. PICTURE. Al Hassan Hleileh MBA 2 MA in POL ECON SOC H. PICTURE. Hung Le MS&E MS BS in EE/CS. PICTURE. Elika Mahdavi MS&E MS BS in Indus.Eng.

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Team Dynamo

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  1. Interviews: 252 Partner: 10 Survey: 76 Team Dynamo Final Presentation

  2. THE TEAM PICTURE • MeghGautam • MS&E MS • BTechin IT PICTURE • Al Hassan Hleileh • MBA 2 • MA in POL ECON SOC H PICTURE • Hung Le • MS&E MS • BS in EE/CS PICTURE • ElikaMahdavi • MS&E MS • BS in Indus.Eng.

  3. TABLE OF CONTENTS • Overview of our idea evolution • Our journey from week 1 to week 8 • Current Idea • Archetype • Product vision • Partner • Channel & Demand Creation • Competitive Landscape • Market Sizing • Lesson learned and what next

  4. IDEA EVOLUTION THROUGH PIVOT 1 2 3 4 5 6 7 8 Travel booking portal for Middle Easterns Social travel planning Ex-pat travel portal to Middle East Safe travel portal for US travelers to M.E. Travel inspiration - Social platform that nudges people to inspire and enrich their life Nudge to enrich life Focus Customer Insights Competition Market size Customer Insights Market size Research Scalability Market size

  5. Interviews: 20 1 Travel booking portal for Middle Easterns

  6. WEEK 1 – MAKE MY DREAM New Remain Week 1 Remove Middle East focused Travel booking portal • Middle East focused platform • Offer a booking platform with group discounts and flash-sales • Ramp up strategy through social conversations • Preserve memories of travel through photo sharingand quotes Hotels Airlines Events (Festivals) Car rentals Promotion companies Deal listings State Tourism Travel agents Conventions (CES) Business Schools (Study groups) Product Development A/B testing Relationship with hotels; airlines; car rentals Sourcing deals Acquisition, retain customers Lowest price Best inventory Convenient Experiential UI Social Validation Create a Community Multiple options Best Actionable deals Relevant locations Trusted relationships Successful partnerships Brand awareness/ identification Pilots Cross pollination Events (Parties!) Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Young families Best education for kids Cultural experience Trendy destinations Web and mail Advertising Social Media Word of Mouth Referrals Customer call centers Magazines Market understanding Best in class product Relationship with partners Human Capital Percentage of booking costs Percentage of hotel/package (s) Advertising revenues Event of the month Exclusive partnership with events Human Capital Product Development Advertising costs Maintaining relationships Refunds

  7. WEEK 1 – MAKE MY DREAM New Remain Week 1 Remove Hotels Airlines Events (Festivals) Car rentals Promotion companies Deal listings State Tourism Travel agents Conventions (CES) Business Schools (Study groups) Product Development A/B testing Relationship with hotels; airlines; car rentals Sourcing deals Acquisition, retain customers Lowest price Best inventory Convenient Experiential UI Social Validation Create a Community Multiple options Best Actionable deals Relevant locations Trusted relationships Successful partnerships Brand awareness/ identification Pilots Cross pollination Events (Parties!) Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Young families Best education for kids Cultural experience Trendy destinations Web and mail Advertising Social Media Word of Mouth Referrals Customer call centers Magazines Market understanding Best in class product Relationship with partners Human Capital Percentage of booking costs Percentage of hotel/package (s) Advertising revenues Event of the month Exclusive partnership with events Human Capital Product Development Advertising costs Maintaining relationships Refunds

  8. WEEK 1 – MAKE MY DREAM New Remain Week 1 Remove Hotels Airlines Events (Festivals) Car rentals Promotion companies Deal listings State Tourism Travel agents Conventions (CES) Business Schools (Study groups) Product Development A/B testing Relationship with hotels; airlines; car rentals Sourcing deals Acquisition, retain customers Lowest price Best inventory Convenient Experiential UI Social Validation Create a Community Multiple options Best Actionable deals Relevant locations Trusted relationships Successful partnerships Brand awareness/ identification Pilots Cross pollination Events (Parties!) Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Young families Best education for kids Cultural experience Trendy destinations Lack of focus in value propositions Web and mail Advertising Social Media Word of Mouth Referrals Customer call centers Magazines Market understanding Best in class product Relationship with partners Human Capital • Too broad a platform • Too many value propositions Percentage of booking costs Percentage of hotel/package (s) Advertising revenues Event of the month Exclusive partnership with events Human Capital Product Development Advertising costs Maintaining relationships Refunds

  9. WEEK 1 – MAKE MY DREAM New Remain Week 1 Remove Hotels Airlines Events (Festivals) Car rentals Promotion companies Deal listings State Tourism Travel agents Conventions (CES) Business Schools (Study groups) Product Development A/B testing Relationship with hotels; airlines; car rentals Sourcing deals Acquisition, retain customers Lowest price Best inventory Convenient Experiential UI Social Validation Create a Community Multiple options Best Actionable deals Relevant locations Trusted relationships Successful partnerships Brand awareness/ identification Pilots Cross pollination Events (Parties!) Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Young families Best education for kids Cultural experience Trendy destinations Market sizing problem • The method we used was a top-down approach • We didn’t use net numbers (gross) • The lesson here is that if we were to do it again we would use bottom up / net figures Web and mail Advertising Social Media Word of Mouth Referrals Customer call centers Magazines Market understanding Best in class product Relationship with partners Human Capital Percentage of booking costs Percentage of hotel/package (s) Advertising revenues Event of the month Exclusive partnership with events Human Capital Product Development Advertising costs Maintaining relationships Refunds

  10. WEEK 1 – MAKE MY DREAM New Remain Week 1 Remove Lack of focus in customer segments Hotels Airlines Events (Festivals) Car rentals Promotion companies Deal listings State Tourism Travel agents Conventions (CES) Business Schools (Study groups) Product Development A/B testing Relationship with hotels; airlines; car rentals Sourcing deals Acquisition, retain customers Lowest price Best inventory Convenient Experiential UI Social Validation Create a Community Multiple options Best Actionable deals Relevant locations Trusted relationships Successful partnerships Brand awareness/ identification Pilots Cross pollination Events (Parties!) Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Young families Best education for kids Cultural experience Trendy destinations We were not focused on a specific customer segment – too broad. Our interview base was biased towards our network – needed a better sample. Web and mail Advertising Social Media Word of Mouth Referrals Customer call centers Magazines Market understanding Best in class product Relationship with partners Human Capital Percentage of booking costs Percentage of hotel/package (s) Advertising revenues Event of the month Exclusive partnership with events Human Capital Product Development Advertising costs Maintaining relationships Refunds

  11. WEEK 1 – MAKE MY DREAM New Remain Week 1 Remove Hotels Airlines Events (Festivals) Car rentals Promotion companies Deal listings State Tourism Travel agents Conventions (CES) Business Schools (Study groups) Product Development A/B testing Relationship with hotels; airlines; car rentals Sourcing deals Acquisition, retain customers Lowest price Best inventory Convenient Experiential UI Social Validation Create a Community Multiple options Best Actionable deals Relevant locations Trusted relationships Successful partnerships Brand awareness/ identification Pilots Cross pollination Events (Parties!) Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Young families Best education for kids Cultural experience Trendy destinations Key learning • Focus is crucial – be it in your value proposition or in your customer segmentation • Market sizing – Use bottom up whenever possible • Get out of the building – in spirit and in action. Avoid bias Web and mail Advertising Social Media Word of Mouth Referrals Customer call centers Magazines Market understanding Best in class product Relationship with partners Human Capital Percentage of booking costs Percentage of hotel/package (s) Advertising revenues Event of the month Exclusive partnership with events Human Capital Product Development Advertising costs Maintaining relationships Refunds

  12. Interviews: 20 1 2 Travel booking portal for Middle Easterns Social travel planning Customer focus

  13. WEEK 2 – SOCIAL TRIP PLANNING New Remain Week 2 Remove Pivot to social travel planning for group traveling • Through our mentors, we really dug into our customers insights • They were telling us that they didn’t just want to go to the middle east • They wanted a seamless, social and enjoyable travel experience from A-Z • We pivoted to The Middle Easts travel booking portal with a ramp up focused on influential who want easy and pleasurable trip planning Social Networks Travel Publications Hotels Business Schools Travel agents Airlines Events Deal listings Car rentals Promotion companies State Tourism Conventions (CES) Customer Acquisition Customer Retention Product Dev Relationship with key partners Sourcing deals Easy and pleasurable trip planning Best inventory Convenient Experiential UI Lowest price Multiple options Best Actionable deals Relevant locations Create a Community Social Validation Trusted relationships Successful partnerships Events (Parties!) Brand awareness/ identification Pilots Cross pollination Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Young families Best education for kids Cultural experience Trendy destinations Word of Mouth Social Media Web and mail Advertising Referrals Customer call centers Magazines Market understanding Human Capital Relationship with partners Best in class product Percentage of booking costs Percentage of hotel/package (s) Advertising revenues Event of the month Exclusive partnership with events Human Capital Product Development Advertising costs Maintaining relationships Refunds

  14. WEEK 2 – SOCIAL TRIP PLANNING New Remain Week 2 Remove Social Networks Travel Publications Hotels Business Schools Travel agents Airlines Events Deal listings Car rentals Promotion companies State Tourism Conventions (CES) Customer Acquisition Customer Retention Product Dev Relationship with key partners Sourcing deals Easy and pleasurable trip planning Best inventory Convenient Experiential UI Lowest price Multiple options Best Actionable deals Relevant locations Create a Community Social Validation Trusted relationships Successful partnerships Events (Parties!) Brand awareness/ identification Pilots Cross pollination Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Young families Best education for kids Cultural experience Trendy destinations Word of Mouth Social Media Web and mail Advertising Referrals Customer call centers Magazines Market understanding Human Capital Relationship with partners Best in class product Percentage of booking costs Percentage of hotel/package (s) Advertising revenues Event of the month Exclusive partnership with events Human Capital Product Development Advertising costs Maintaining relationships Refunds

  15. WEEK 2 – SOCIAL TRIP PLANNING New Remain Week 2 Remove Social Networks Travel Publications Hotels Business Schools Travel agents Airlines Events Deal listings Car rentals Promotion companies State Tourism Conventions (CES) Customer Acquisition Customer Retention Product Dev Relationship with key partners Sourcing deals Easy and pleasurable trip planning Best inventory Convenient Experiential UI Lowest price Multiple options Best Actionable deals Relevant locations Create a Community Social Validation Trusted relationships Successful partnerships Events (Parties!) Brand awareness/ identification Pilots Cross pollination Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Young families Best education for kids Cultural experience Trendy destinations Word of Mouth Social Media Web and mail Advertising Referrals Customer call centers Magazines Market understanding Human Capital Relationship with partners Best in class product Percentage of booking costs Percentage of hotel/package (s) Advertising revenues Event of the month Exclusive partnership with events Human Capital Product Development Advertising costs Maintaining relationships Refunds

  16. WEEK 2 – SOCIAL TRIP PLANNING New Remain Week 2 Remove Social Networks Travel Publications Hotels Business Schools Travel agents Airlines Events Deal listings Car rentals Promotion companies State Tourism Conventions (CES) Customer Acquisition Customer Retention Product Dev Relationship with key partners Sourcing deals Easy and pleasurable trip planning Best inventory Convenient Experiential UI Lowest price Multiple options Best Actionable deals Relevant locations Create a Community Social Validation Trusted relationships Successful partnerships Events (Parties!) Brand awareness/ identification Pilots Cross pollination Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Young families Best education for kids Cultural experience Trendy destinations What was the problem? • When research for potential partners, we learned of several existing competitors with similar product • crowded • hypercompetitive Word of Mouth Social Media Web and mail Advertising Referrals Customer call centers Magazines Market understanding Human Capital Relationship with partners Best in class product Percentage of booking costs Percentage of hotel/package (s) Advertising revenues Event of the month Exclusive partnership with events Human Capital Product Development Advertising costs Maintaining relationships Refunds

  17. WEEK 2 – SOCIAL TRIP PLANNING New Remain Week 2 Remove Social Networks Travel Publications Hotels Business Schools Travel agents Airlines Events Deal listings Car rentals Promotion companies State Tourism Conventions (CES) Customer Acquisition Customer Retention Product Dev Relationship with key partners Sourcing deals Easy and pleasurable trip planning Best inventory Convenient Experiential UI Lowest price Multiple options Best Actionable deals Relevant locations Create a Community Social Validation Trusted relationships Successful partnerships Events (Parties!) Brand awareness/ identification Pilots Cross pollination Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Young families Best education for kids Cultural experience Trendy destinations Key learning • We should have looked at the competitive landscape earlier • We should have spoken to industry / domain experts earlier Word of Mouth Social Media Web and mail Advertising Referrals Customer call centers Magazines Market understanding Human Capital Relationship with partners Best in class product Percentage of booking costs Percentage of hotel/package (s) Advertising revenues Event of the month Exclusive partnership with events Human Capital Product Development Advertising costs Maintaining relationships Refunds

  18. Interviews: 64 1 2 3 Travel booking portal for Middle Easterns Social travel planning Ex-pat travel portal to Middle East Competition

  19. WEEK 3 – EX-PAT TRAVELING New Remain Week 3 Remove Pivot to Ex-pat Community Travel Portal • We pivoted back to the original idea with focus on one customer segment • A travel planner for Ex-Pat studentswho frequently visit the Middle-East & other major cities. • We want to capture & publish their travel experience. Social Networks Hotels Business Schools Travel agents Travel Publications Airlines Events Deal listings Customer Acquisition Customer Retention Product Dev Relationship with key partners Sourcing deals Local knowhow and content Easy and pleasurable trip planning Best inventory Trusted relationships Successful partnerships Events (Parties!) Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Word of Mouth Social Media Market understanding Human Capital Relationship with partners Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  20. WEEK 3 – EX-PAT TRAVELING New Remain Week 3 Remove Social Networks Hotels Business Schools Travel agents Travel Publications Airlines Events Deal listings Customer Acquisition Customer Retention Product Dev Relationship with key partners Sourcing deals Local knowhow and content Easy and pleasurable trip planning Best inventory Trusted relationships Successful partnerships Events (Parties!) Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Word of Mouth Social Media Market understanding Human Capital Relationship with partners Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  21. WEEK 3 – EX-PAT TRAVELING New Remain Week 3 Remove Social Networks Hotels Business Schools Travel agents Travel Publications Airlines Events Deal listings Customer Acquisition Customer Retention Product Dev Relationship with key partners Sourcing deals Local knowhow and content Easy and pleasurable trip planning Best inventory Trusted relationships Successful partnerships Events (Parties!) Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior What was the problem? • We interviewed 64 people and found: • The market was too small • There is little homogeneity in customer needs • Too low frequency of travel to justify target market Word of Mouth Social Media Market understanding Human Capital Relationship with partners Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  22. WEEK 3 – EX-PAT TRAVELING New Remain Week 3 Remove Social Networks Hotels Business Schools Travel agents Travel Publications Airlines Events Deal listings Customer Acquisition Customer Retention Product Dev Relationship with key partners Sourcing deals Local knowhow and content Easy and pleasurable trip planning Best inventory Trusted relationships Successful partnerships Events (Parties!) Young and the affluent High disposable incomes Willing to explore Young and single Divergent origins Social media savvy Young couples Trendsetting behavior Key learning • Market sizing is crucial Word of Mouth Social Media Market understanding Human Capital Relationship with partners Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  23. Interviews: 33 Survey: 46 1 2 3 4 Travel booking portal for Middle Easterns Social travel planning Ex-pat travel portal to Middle East Safe travel portal for US travelers to M.E. Market size

  24. WEEK 4 – US TRAVEL TO Middle East New Remain Week 4 Remove Pivot to US Traveler Portal to Middle East • We expanded our market to entire US travel market • Platform to facilitate Americans to travel to the Middle-East Social Networks Alumni Associations Hotels Business Schools Travel agents Travel Publications Airlines Events Deal listings Customer Acquisition Customer Retention Product Development Relationship with key partners Sourcing deals Safety proposition Localknowhowandcontent Community/Group Travel Easy and pleasurable trip planning Best inventory Trusted relationships Successful partnerships Young and the affluent High disposable incomes Willing to explore -MBA Students Word of Mouth Social Media Market understanding Human Capital Relationship with partners Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  25. WEEK 4 – US TRAVEL TO Middle East New Remain Week 4 Remove Young affluent market We surveyed 46 people and interview 33 more • Young & Affluent Americans traveling to the Middle East need local insight. • We’ll be the trusted source! Social Networks Alumni Associations Hotels Business Schools Travel agents Travel Publications Airlines Events Deal listings Customer Acquisition Customer Retention Product Development Relationship with key partners Sourcing deals Safety proposition Localknowhowandcontent Community/Group Travel Easy and pleasurable trip planning Best inventory Trusted relationships Successful partnerships MBA Students Young and the affluent High disposable incomes Willing to explore Word of Mouth Social Media Market understanding Human Capital Relationship with partners Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  26. WEEK 4 – US TRAVEL TO Middle East New Remain Week 4 Remove Social Networks Alumni Associations Hotels Business Schools Travel agents Travel Publications Airlines Events Deal listings Customer Acquisition Customer Retention Product Development Relationship with key partners Sourcing deals Safety proposition Localknowhowandcontent Community/Group Travel Easy and pleasurable trip planning Best inventory Trusted relationships Successful partnerships Young and the affluent High disposable incomes Willing to explore -MBA Students Word of Mouth Social Media Market understanding Human Capital Relationship with partners Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  27. WEEK 4 – US TRAVEL TO Middle East New Remain Week 4 Remove Launched website with full basic booking functionalities Social Networks Alumni Associations Hotels Business Schools Travel agents Travel Publications Airlines Events Deal listings Customer Acquisition Customer Retention Product Development Relationship with key partners Sourcing deals Safety proposition Localknowhowandcontent Community/Group Travel Easy and pleasurable trip planning Best inventory Trusted relationships Successful partnerships MBA Students Young and the affluent High disposable incomes Willing to explore • Ebtism.com went live • Full basic functionalities (login, browse deals and book trips) • 4 sourced deals from agencies • 42 GSB students booked Word of Mouth Social Media Market understanding Human Capital Relationship with partners Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds Exclusive login Value proposition Deals selection (real sourcing) Ability to book trips

  28. WEEK 4 – US TRAVEL TO Middle East New Remain Week 4 Remove Social Networks Alumni Associations Hotels Business Schools Travel agents Travel Publications Airlines Events Deal listings Customer Acquisition Customer Retention Product Development Relationship with key partners Sourcing deals Safety proposition Localknowhowandcontent Community/Group Travel Easy and pleasurable trip planning Best inventory Trusted relationships Successful partnerships MBA Students Young and the affluent High disposable incomes Willing to explore What was the problem? • We spoke to Christos Stergiou, founder of truegreece.com (Greece Analogue) • 10 years of development • $5M idea Word of Mouth Social Media Market understanding Human Capital Relationship with partners Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  29. WEEK 4 – US TRAVEL TO Middle East New Remain Week 4 Remove Social Networks Alumni Associations Hotels Business Schools Travel agents Travel Publications Airlines Events Deal listings Customer Acquisition Customer Retention Product Development Relationship with key partners Sourcing deals Safety proposition Localknowhowandcontent Community/Group Travel Easy and pleasurable trip planning Best inventory Trusted relationships Successful partnerships MBA Students Young and the affluent High disposable incomes Willing to explore Key learning Market size need to be VENTURE SCALE We want to DISRUPT the Travel Space. Let’s Re-think the Entire Idea! Word of Mouth Social Media Market understanding Human Capital Relationship with partners Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  30. Interviews: 17 Survey: 10 1 2 3 4 5 Travel booking portal for Middle Easterns Social travel planning Ex-pat travel portal to Middle East Safe travel portal for US travelers to M.E. Social platform that nudges people to travel Market size

  31. WEEK 5 – TRAVEL NUDGE Paying partner side End-user side Week 5 Remove Pivot to travel inspiration • We pivot to a brand new market • Inspire people to travel more through recommendation • Relevant based on social graph and travel history Social Networks Travel Websites Alumni Associations Travel agents Business Schools Hotels Customer Acquisition Customer Retention Product Development Relationship with key partners Sourcing deals Enrichment (Travel) Leads Safety proposition Local knowhow and content Community/Group Travel Trusted relationships Successful partnerships Online travelers Travel Websites MBA Students Young and the affluent High disposable incomes Willing to explore Word of Mouth Social Media User data Human Capital Relationship with partners Leads Advertising Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  32. WEEK 5 – TRAVEL NUDGE Paying partner side End-user side Week 5 Remove Inception of Nudge by looking at the competitive landscape Social Networks Travel Websites Alumni Associations Travel agents Business Schools Hotels Customer Acquisition Customer Retention Product Development Relationship with key partners Sourcing deals Enrichment (Travel) Leads Safety proposition Local knowhow and content Community/Group Travel Trusted relationships Successful partnerships Online travelers Travel Websites MBA Students Young and the affluent High disposable incomes Willing to explore Revised later Word of Mouth Social Media User data Human Capital Relationship with partners Leads Advertising Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  33. WEEK 5 – TRAVEL NUDGE Paying partner side End-user side Week 5 Remove Social Networks Travel Websites Alumni Associations Travel agents Business Schools Hotels Customer Acquisition Customer Retention Product Development Relationship with key partners Sourcing deals Enrichment (Travel) Leads Safety proposition Local knowhow and content Community/Group Travel Trusted relationships Successful partnerships Online travelers Travel Websites MBA Students Young and the affluent High disposable incomes Willing to explore Word of Mouth Social Media User data Human Capital Relationship with partners Leads Advertising Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  34. WEEK 5 – TRAVEL NUDGE Paying partner side End-user side Week 5 Remove Sizeable potential market Social Networks Travel Websites Alumni Associations Travel agents Business Schools Hotels Customer Acquisition Customer Retention Product Development Relationship with key partners Sourcing deals Enrichment (Travel) Leads Safety proposition Local knowhow and content Community/Group Travel Trusted relationships Successful partnerships Online travelers Travel Websites MBA Students Young and the affluent High disposable incomes Willing to explore Bottom-up estimation • Market = population x nudge frequency x CTR x CPC • With leads revenue sharing model, TAM is based on assumptions of nudges frequency and conversion • Target market is justifiable with an annual revenue of $267 million with 31% market penetration TAM = $900M SAM = $373M Word of Mouth Social Media SOM = $267M User data Human Capital Relationship with partners Leads Advertising Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  35. WEEK 5 – TRAVEL NUDGE Paying partner side End-user side Week 5 Remove Mock up of the product for customer interview Social Networks Travel Websites Alumni Associations Travel agents Business Schools Hotels Customer Acquisition Customer Retention Product Development Relationship with key partners Sourcing deals Enrichment (Travel) Leads Safety proposition Local knowhow and content Community/Group Travel Trusted relationships Successful partnerships Online travelers Travel Websites MBA Students Young and the affluent High disposable incomes Willing to explore Word of Mouth Social Media User data Human Capital Relationship with partners Leads Advertising Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  36. Interviews: 52 + 3 partners 1 2 3 4 5 6 Travel booking portal for Middle Easterns Social travel planning Ex-pat travel portal to Middle East Safe travel portal for US travelers to M.E. Travel inspiration - Social platform that nudges people to inspire and enrich their life

  37. WEEK 6 – TRAVEL NUDGE Paying partner side End-user side Week 6 Remove Social Networks Travel Websites Customer Acquisition Customer Retention Product Development Relationship with key partners Enrichment (Travel) Customer Acquisition Leads Trusted relationships Successful partnerships Online travelers Travel Websites Word of Mouth Social Media User data Human Capital Relationship with partners Cost per acquisition Leads Advertising Human Capital Product Development Advertising costs Maintaining relationships

  38. WEEK 6 – TRAVEL NUDGE Paying partner side End-user side Week 6 Remove Partner Social Networks Travel Websites Customer Acquisition Customer Retention Product Development Relationship with key partners Enrichment (Travel) Customer Acquisition Leads Trusted relationships Successful partnerships Online travelers Travel Websites Reach out to Travelocity (Jim Hornthal) • Customer insights differed • Technological challenges (e.g. cookies) • Revenue share instead of lead generating Reach out to Expedia andBookingmarkets • Confirm revenue share model (5% - 10%) and we even got a standard term Word of Mouth Social Media User data Human Capital Relationship with partners Cost per acquisition Leads Advertising Human Capital Product Development Advertising costs Maintaining relationships

  39. WEEK 6 – TRAVEL NUDGE Paying partner side End-user side Week 6 Remove The customers value relevance of nudges Social Networks Travel Websites Customer Acquisition Customer Retention Product Development Relationship with key partners Enrichment (Travel) Customer Acquisition Leads Trusted relationships Successful partnerships Online travelers Travel Websites Then we went out of the building to interview 50 people at Stanford Mall • What prevents people from traveling is time, not imagination or laziness (seasonal) • People don’t want to be nudged too often (1 per month) • Referrals from close friends more valuable than referrals from strangers Word of Mouth Social Media User data Human Capital Relationship with partners Cost per acquisition Leads Advertising Human Capital Product Development Advertising costs Maintaining relationships

  40. Interviews: 16 1 2 3 4 5 6 7 Travel booking portal for Middle Easterns Social travel planning Ex-pat travel portal to Middle East Safe travel portal for US travelers to M.E. Travel inspiration - Social platform that nudges people to inspire and enrich their life Nudge to enrich life Market size

  41. WEEK 7 - NUDGE Week 7 Expand from travel to include activity nudges • We expanded our nudges to include activities, events, social reminders than just travels • Keep user more engaged with relevant frequent nudges Social Networks Travel Websites Event Websites University Events Merchants Customer Acquisition Customer Retention Product Development Relationship with key partners Enrichment (Activities + Travel) Customer Acquisition Enrichment (Travel) Trusted relationships Successful partnerships Students Graduates Young Families Travel Websites Online travelers Word of Mouth Social Media User data Human Capital Relationship with partners Cost per acquisition Human Capital Product Development Advertising costs Maintaining relationships

  42. WEEK 7 - NUDGE Week 7 Social Networks Travel Websites Event Websites University Events Merchants Customer Acquisition Customer Retention Product Development Relationship with key partners Enrichment (Activities + Travel) Customer Acquisition Enrichment (Travel) Trusted relationships Successful partnerships Students Graduates Young Families Travel Websites Online travelers Word of Mouth Social Media User data Human Capital Relationship with partners Cost per acquisition Human Capital Product Development Advertising costs Maintaining relationships

  43. WEEK 7 - NUDGE Week 7 Social Networks Travel Websites Event Websites University Events Merchants Customer Acquisition Customer Retention Product Development Relationship with key partners Enrichment (Activities + Travel) Customer Acquisition Enrichment (Travel) Trusted relationships Successful partnerships Students Graduates Young Families Travel Websites Online travelers The customers want diverse nudges We went out of the building to interview 20 people • People also want to be nudged in other things than just travel • Mobile is the most effective medium to increase engagement Word of Mouth Social Media User data Human Capital Relationship with partners Cost per acquisition Human Capital Product Development Advertising costs Maintaining relationships

  44. WEEK 7 - NUDGE Week 7 Social Networks Travel Websites Event Websites University Events Merchants Customer Acquisition Customer Retention Product Development Relationship with key partners Enrichment (Activities + Travel) Customer Acquisition Enrichment (Travel) Trusted relationships Successful partnerships Students Graduates Young Families Travel Websites Online travelers Word of Mouth Social Media User data Human Capital Relationship with partners Cost per acquisition Human Capital Product Development Advertising costs Maintaining relationships

  45. Interviews: 15 Partners: 7 Pilot nudges: 20 1 2 3 4 5 6 7 8 Travel booking portal for Middle Easterns Social travel planning Ex-pat travel portal to Middle East Safe travel portal for US travelers to M.E. Travel inspiration - Social platform that nudges people to inspire and enrich their life Nudge to enrich life

  46. YOUTUBE VIDEO

  47. NUDGE Paying partner side End-user side Week 5 Remove Creating NUDGE nudge/nəj/ verb: to push slightly or gently, especially with the elbow, to get someone's attention, prod someone into action, etc. noun: a slight or gentle push or jog, especially with the elbow. Social Networks Travel Websites Alumni Associations Travel agents Business Schools Hotels Customer Acquisition Customer Retention Product Development Relationship with key partners Sourcing deals Enrichment (Travel) Leads Safety proposition Local knowhow and content Community/Group Travel Trusted relationships Successful partnerships Online travelers Travel Websites MBA Students Young and the affluent High disposable incomes Willing to explore Word of Mouth Social Media User data Human Capital Relationship with partners Leads Advertising Percentage of booking costs Human Capital Product Development Advertising costs Maintaining relationships Refunds

  48. WEEK 8 (FINAL) Paying partner side End-user side Week 8 Remove Social Networks Travel Websites Event Websites University Events Merchants Customer Acquisition Customer Retention Product Development Relationship with key partners Enrichment (Activities + Travel) Customer Acquisition Trusted relationships Successful partnerships Students Graduates Young Families Travel Websites Word of Mouth Social Media User data Human Capital Relationship with partners Cost per acquisition Human Capital Product Development Advertising costs Maintaining relationships

  49. CUSTOMER ARCHETYPES Ashley Clair Alex • Age: 26 • Stanford Student • Worked in Hollywood • Loves Adventures • Wants to be nudged relevantly, and inspired! • Age:28 • Works at mobile start-up in San Francisco, originally from Montana • Single & dating • Plays soccer, runs marathons • Likes to cook/host dinner with friends when possible • Age:38 • Married, 1 child (4 y.o. Clay) • Investment professional in New York • Volunteer coach for son’s hockey team • Commutes for work to Manhattan every day • Goes out of town to the country for break once/month with his family

  50. NUDGE TYPES Nudges from friends as a social push Discovering nudges OCCURING EVENTS (REALITY) Highest conversion rate nudges social push serendipity nudge DESIRE (SUBCONSCIOUS) EVENTS YOU ARE AWARE OF (CONSCIOUS)

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