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Presentation for our Strategy class. Introducing Skys The Limit. A mobile savings tool for planning your dream trip. Savings is our goal, travelling is our vehicle.
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We are a mobile savings tool, helping people to finally take that dream trip.
While creating better saving habits in the process
U.S. SAVINGS IS AT AN ALL TIME LOW 3.4%
CONSUMER SPENDING IS INCREASING.
THE STATUS QUO IS UNSUSTAINABLE.
PEOPLE NEED HELP SAVING MONEY
goal oriented social saving site Online budgeting visualizer
10,000,000 customers500,000 customers
3 billion in goals reached
Current Saving Methods
Create Goal Setup Auto-Pay Wait
Create Goal / Track Savings Wait
Current Saving Methods
Create Goal Setup Auto-Pay Wait
Create Goal / Track Savings Wait
A lot can change in this time. This is our opportunity.
Behavior & Habit Models
So, Why Travel...Well...We think it’s sexy.
• The online travel market is huge. Over 90 Billion• Repeat Customers.
• It is a changing market with over 38% of leisure travelers beginning to book flights with mobile
• Travel is a social activity
SmartyPig.com is the current market leader
• They don’t add value to the travel experience
• There aren’t any additional tools to assists with travel needs.
We can easily segment this marketby specifically focusing on users needs.
FOCUS & DESIGN STRATEGY
DESIGN IN SERVICE OF BEHAVIOR CHANGESAVINGS IS OUR GOAL, TRAVEL IS OUR VEHICLE
B.J. FoggPersuasive Technology Lab, Stanford
Users Goal.
The idea is to embed ourselves in the users routine, becoming an anchor for their goals
Geo-BasedIncentives
Gamification formotivation
Social Saving
STARBUCKS AGAIN?HOW ABOUT A
MARGARITAIN CABO?
CLICK TO SAVE
YOU REACHED THE PLANE TICKET
GOAL FIRST!
BADGE EARNED.
YOU
JOHN
CHRISTINE
Online travel Savings Market
SmartyPig - 110,000 travel savers (21%)Mint.com - 1M people saving (10%)
Traditional Online Savings Market4M saving for travel
Category Revenue Frequency Adoption Rate Revenue per user per year
Savings Account $30 2 years 50% $7.5
Checking Account
$30 2 years 10% $1.5
Credit Card $60 2 years 10% $3
Airline Booking Fee
$5 .5 years 30% $3
Hotel Booking Fee
$5 .5 years 30% $3
Car Rental Booking Fee
$5 .5 years 10% $1
Shopping Gift Card
$10 1 year 10% $1
$20
Revenue Model
User Base x Rev/User/Yr = Sky’s the Limit Opportunity1.1M $20 21M
ECONOMICS
COST AND TEAM CHART.COST OVER TIME
0
37500
75000
112500
150000
Year 1 Year 2 Year 30
750000
1500000
2250000
3000000
Users Revenue
RISKS & OPPORTUNITIES
IT MAY BE A BAD IDEA TO SEGMENT THE MARKET. WE MAY BE NARROWING DOWN TOO MUCH.
RISK:
OPPORTUNITY:
WE’RE ABLE TO SEGMENT A LARGE PORTION OF SMARTY PIG AND TEST OUR METHODS.
Thank You.
1. Contextually aware communication
2. Personalization 3. Create feedback loopwithin goals
- Time- Context- Goals- Availability of Attention- Location
Anticipation over reaction
- Being realistic with goal setting- Creating a story from the data -using that story to reinforce new behavior
Understanding...- Values- Beliefs- Motivations- Habits- Ways to Communicate