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something-something-something.com

something-something-something.com. Formerly “Personal Libraries”. Week 7 Canvas. Upwardly mobile young professionals making $2-10K of discretionary online purchases a year (excluding travel). FB/TW posts from users you know Company blog, FB, TW accounts.

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something-something-something.com

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  1. something-something-something.com Formerly “Personal Libraries”

  2. Week 7 Canvas Upwardly mobile young professionals making $2-10K of discretionary online purchases a year (excluding travel) FB/TW posts from users you know Company blog, FB, TW accounts Bloggers and Media targeting customer segment Retail marketing partners IE/FF/Chrome teams Affiliate Program Providers FB/TW posts from cartpop users you know Discover online goods recommended by friends at the lowest possible price from trusted vendors Affiliate program SEO/SEM/SM IE/FF/Chrome App Stores Developers Marketers AWS Infrastructure SEM Eng & Marketing OpEx Affiliate program fees Licensing Subscription fees Ad revenue

  3. Week 8: Social Shopping FB/TW posts from users you know Company blog, FB, TW accounts Bloggers and Media targeting customer segment Retail marketing partners IE/FF/Chrome teams Affiliate Program Providers FB/TW posts from cartpop users you know MVP: Trusted Advice on products tailored to your needs by people and groups relevant to you. Pat the Professional Upwardly mobile, $2-10K discretionary purchases/year (excluding travel) Affiliate program SEO/SEM/SM IE/FF/Chrome App Stores Developers Marketers AWS Infrastructure SEM Eng & Marketing OpEx Affiliate program fees Licensing Subscription fees Ad revenue

  4. Feedback this Week Teaching Team Mentors What experience and expertise does the team bring to this problem? What are your unique insights into the problem?  What unmet needs that matter (offer the consumer tangible value) are you seeking to fulfill?  Who else is trying to do this, and what is unique/interesting about their approach, and what is deficient? What is the scale?  If you win this category, how big is the company?  Who wins and who loses if you are successful?  • You need to review what you did with Personal Libraries and redo as much as possible for Wantio

  5. Customer Segment: Professional-class consumers shopping frequently online • Pat the Professional • Upwardly mobile professional (some Grad Students) • Salary: $40,000 – 150,000/year • Finance, Consulting, PR, Marketing • Follows fashion/technology trends • Spends $1-15K on discretionary items online • Purchased online in last 30 days • Demographics • Male/female, aged 18-35 • Minimum bachelors from expensive school • Traits: • Ideas from blogs & shopping websites • Values celebrity trends & friends’ opinions • Wants high ticket items at lowest price • Event-driven shopper—new release or sale • Motivation • Craves new products • Hates tedious work • Identifies as influencer among friends • Fears being cheated online • Behavior • Spends 5 hour+ monthly hearing about products • Shares online and in person about products he loves • Budget • $2-10K+/year in discretionary online purchases • “The XXX is awesome, I really want one. I know I just bought the YYY, but it’s probably time to upgrade.” ~5.9M “Pat the Professionals” in US Drawn from top 1/3 of 17.8M frequent online shoppers 17.8M based on 40.2M Professionals (2008 Census) * 0.762 US Internet Penetration (Nielsen 2010Q1) * 0.58 consumers shopping online in last month (Nielsen 2010Q1) Online Recommendation Market Opportunity (conservative strawman #s) Assuming 10% share, 5% affiliate fees Top Shoppers (~$7B/year spend): ~ $35M/year Professional-class frequent shoppers (~$1.8B/year): ~ $9M/year Other Professional-class shoppers ($0.7B/year): ~3.5M/year Source: US Bureau of Labor Statistics

  6. Customer Segment: Top shoppers spend a lot of money ~$7B spent by Top US Shoppers/yearBased on 918K top shoppers (given top 3% of professionals shopping online) * $7,625/year online spend1 1vetted against $1072 average weekly wage (US Census) * 2.84 weeks salary spent per month (given 51-75%, 75% spend levels) * 0.2 after tax discretionary income ratio 50%+ of monthly spending for Top Shoppers happens online

  7. Customer Segment: US distinctly different from rest of world in key areas Comparison shopping and aggregators less popular in US than in rest of world US most likely to share positive experiences online vs. rest of world

  8. Customer Segment: Reviews & popularity highly disproportionate across products

  9. Category Exploration, Research & Interviews / Potential Partners • Books (2009: ~$40B retail, ~$24B wholesale, APA) • Head of mobile strategy at major US publisher • - Print in massive decline, eBooks exploding, players trapped in “merchandising” mindset • Electronics (2009: $171B, CEA) • Entrepreneur with multiple successful affiliate marketing businesses, specializing in electronics • High instances of fraud; affiliate programs monitor partners very closely, have pricing power • Recreational Boating (2009: $10B, BI) • Entrepreneur in recreational boat market • Referrals major influencer of purchase decisions in $10B/year market • 7M new, 1.3M used boats sold in ‘07, vs. 3.2M new, 1M used sold in ‘09 • Elite Fashion • Startup helps consumers share shopping “finds” and facilitate purchase from vendor network • Higher EdCo-Founder of leading GMAT prep site (small business ~150K UVs/M) • 200K GMAT test takers, 10-15x considering (GMAC) • Paid Video ContentHedge fund manager on analysis of Netflix • Can develop strong partner relationships monetizing remnant inventory Recreational Boating

  10. Category Exploration, Research & Interviews / Potential Partners • Books (2009: ~$40B retail, ~$24B wholesale, APA) • Head of mobile strategy at major US publisher • - Print in massive decline, eBooks exploding, players trapped in “merchandising” mindset • Electronics (2009: $171B, CEA) • Entrepreneur with multiple successful affiliate marketing businesses, specializing in electronics • High instances of fraud; affiliate programs monitor partners very closely, have pricing power • Recreational Boating (2009: $10B, BI) • Entrepreneur in recreational boat market • Referrals major influencer of purchase decisions in $10B/year market • 7M new, 1.3M used boats sold in ‘07, vs. 3.2M new, 1M used sold in ‘09 • Elite Fashion • Startup helps consumers share shopping “finds” and facilitate purchase from vendor network • Higher EdCo-Founder of leading GMAT prep site (small business ~150K UVs/M) • 200K GMAT test takers, 10-15x considering (GMAC) • Paid Video ContentHedge fund manager on analysis of Netflix • Can develop strong partner relationships monetizing remnant inventory Recreational Boating

  11. TheFancy.com : People connected via Objects Phone call with founder Joe Einhorn • 10,000 users, 100 million objects in database • Vision: Wherever you are on the web or in the world, if you see something you like you can express it & learn more, Target user: anyone who owns / buys • Most content is given free to user (without sign up), Avg unique visitor views 20 pages, priority is to get users viewing & publishing on the site • No formal user acquisition process, want to keep user visits organic • Early adopters / active users rewarded with titles, ex: editor in chief, art director • Partners: • 1. Media companies, journalists who discover cool things • 2. Stores that sell the same or similar items

  12. Customer Segment: Stanford Survey Results (n=40)

  13. Customer Segment: Stanford Survey Results (n=40) People spend more than they think

  14. Customer Segment: Stanford Survey Results (n=40) People love a discount, but aren’t price conscious

  15. Customer Segment: Focus on young & affluent Young (18-34), affluent women ($50K-80K+) Young (18-34), affluent men ($50K-80K+) BENCHMARK: Gawker Media crowd (~19M UV/month)

  16. Week 8: Social Shopping FB/TW posts from users you know Company blog, FB, TW accounts Bloggers and Media targeting customer segment Retail marketing partners IE/FF/Chrome teams Affiliate Program Providers FB/TW posts from cartpop users you know MVP: Trusted Advice on products tailored to your needs by people and groups relevant to you. Pat the Professional Upwardly mobile, $2-10K discretionary purchases/year (excluding travel) Affiliate program SEO/SEM/SM IE/FF/Chrome App Stores Developers Marketers AWS Infrastructure SEM Eng & Marketing OpEx Affiliate program fees Licensing Subscription fees Ad revenue

  17. Trusted Advice

  18. Value Proposition: How to create “Trusted Advice”? Preference Purchase People Self-selected people and groups join for shared advice relevant to their “micro-communities” INCENTIVES: access (“insider” community), reciprocation (dialog, Q&A) FIRST COMMUNITIES: MBAs, Stanford, shopping bloggers Expression of preference (tweet, FB, blog, Q&A, etc.) INCENTIVES: reputation (likes/ratings, associations), ease of use (tools & templates) FIRST FEATURES: “Click to blog” on products; auto-product research Buy relevant items quickly & easily from vetted vendors INCENTIVES: auto-analysis (price, tax & shipping comparison), implicit endorsement (insiders “connected” with product) FIRST PRODUCTS: MBA Admission Books Hypotheses Pat the Professional Shared Wishlist Books MBA students/prospects Shared Purchases Electronics Shopping Enthusiasts … Experiments … Recommendations Q&A … Favorite Vendors …

  19. Experiment 1: Community Recommendations (MBAs + Admission Books)

  20. Experiment 1: Community Recommendations (MBAs + Admission Books)

  21. Experiment 1: Community Recommendations (MBAs + Admission Books) Expanding APRU (strawman numbers) Developing Community

  22. Experiment 2: In-Context Shopping Recommendations

  23. What’s Next FB/TW posts from users you know Company blog, FB, TW accounts Bloggers and Media targeting customer segment Retail marketing partners IE/FF/Chrome teams Affiliate Program Providers FB/TW posts from cartpop users you know MVP: Trusted Advice on products tailored to your needs by people and groups relevant to you. Pat the Professional Upwardly mobile, $2-10K discretionary purchases/year (excluding travel) ? Affiliate program SEO/SEM/SM IE/FF/Chrome App Stores Developers Marketers AWS Infrastructure SEM Eng & Marketing OpEx Affiliate program fees Licensing Subscription fees Ad revenue

  24. THANK YOU

  25. Takeaways • What experience and expertise does the team bring to this problem? • Large scale perspective - Former Windows Live manager experienced running multi-million user services • Rapid development - Engineer experienced in rapid development with open source community & web tools • Early stage experience – Serial web entrepreneur in niche lead gen business, 100K+ high quality UVs/month • Data-driven design - Seasoned project manager focused on high speed research, analytics and usability • What are your unique insights into the problem? • What unmet needs that matter (offer the consumer tangible value) are you seeking to fulfill?  • Who else is trying to do this, and what is unique/interesting about their approach, and what is deficient? • What is the scale?  If you win this category, how big is the company?  • Who wins and who loses if you are successful? 

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