Transcript
Page 1: Lets party columbia univ jan 2014

Team 33

Let’s PARTAY!www.letspartay.com

Team:

Last 24 hrs:• Users: 25• Survey: 82• Venues: 4• Total: 123

Total:• Users: 236• Survey: 121• Venues: 18• Total: 375

Customer Feedback:Metrics that Matter:

Adoption: • Users: 46• Venues: 4Revenue: $100

• Mike Malone• Juri Kondratev• Yan Wang

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App Screenshots (Beta)

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The Canvas - Start

Cost Structure• Staff Costs• Hosting Costs• iPhone SDK• Hardware, Software• Legal, Accounting• Marketing, Social media campaign

Revenue Streams• % on online party sales through the App• % of purchase from grocery coupon sales• Upgrades to eliminate pop up ads & for larger groups • Professional version $20 per month• Banner Ads, Pop Up Adds• Bar / lounge monthly fee ( e.g., $20), tab commission

Key Partners• Event Planners• Club promoters• Bars /Lounges• Alcohol

distributors• Online

distributors:– Soap.com– Amazon.com– PartyCity.com– Ebay.com

Key Activities• Help People

Organize Parties & Events

• Connect Party Organizers with Venues & Vendors

Customer Relationships• Individual Users

(low) • Party/Event

Planners – (moderate)

• Bars / Lounges/ Venues (frequent)

Value Preposition• Easy Party

Organizer• Complete

integration (one stop shop)

• Social features• Fast organization• Discount on party

supplies

Customer Segments• Individual

Organizers• Professional

Organizers/Event Planers

Key Resources• Android App

Store• Apple App Store

Channels• Event Planners• Club promoters• Bars/Lounges• Referrals by

Existing Users• Social Media

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The Canvas – More Focused

Cost Structure• People/Team• Hardware, Software, Hosting Costs, App Store• Legal, Accounting• Marketing, Social Media campaign

Revenue Streams• Commission on Group Events for Bars/Lounges• Commission on Auctions/Bids• “Featured Bar” Revenue• Priority Access Revenue

Key Partners Key Activities Customer Relationships

Value Preposition Customer Segments

Key Resources* Website/App Stores* Technology* People/Team

Channels

* MBA/EMBA Student Groups (2,000+ )* Student Groups

* Venues near University that have excess Capacity

Get: Referrals, Social Media, GoogleKeep: Desired dealsGrow: Add user Groups

Get: Add more BusinessKeep: Ongoing VolumeGrow: Add venues

* Direct Sales* Guerilla Marketing* Distributers

* Guerilla Marketing* Social Media* Google Search* App Stores

Social InfluencersStudent GroupsStudent Clubs

Bars/Lounges/Venues

* Develop Website/App* Build Relationships with Student Groups* Broker best value DealsConsumer Analytics

* Develop Website/App* Build Relationships with Venues* Broker large volume deals

* Bring more business Venues* Marketing/visibility of Venue

* Group Deals at Bars* Find Happy Hours

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What We Learned

1. Initial Hypothesis

2. Experiments

3. Results4. Iterations

New MVP

People want an Individual Party Organizer App

Will you pay for it?How often will you use it?

No, will not pay!Only use 5x per year!

Focus on Deals for Groups in public Venues!

Add Value for Groups & Venues

Big Idea??

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Next Steps

• Phase 1:– Focus on initial Target Customer Segment– Get traction with Columbia MBA/EMBAs & local Venues– Learn & Adjust

• Phase 2: Expand in New York:– Columbia Law School & Other Columbia School & Faculties– NYU– Other NYC Colleges

• Phase 3: Enter other big cities

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Appendix

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Competitive Analysis

Mobile Apps

Review & Social Networks

Individual

Facebook (1B)Evite (22M)PaperlessPost (5M)

Yelp(100M)Foursquare (45M)Thrillist (2.5M)

Professional Event Planners

Social Media& Online

WebsitesTop NY Happy Hour Results

Woodanddales (paid add)Drinkdeal.com (#1 Search)Nyhappyhours.com(#2 Search)Drinkowl.com (#3 Search)

LET’SPARTAY!

Smartphones(133M)

Foursquare (45M)Thrillist 889KHappy Hour Finder (119K)

EventBase (5M)Grupio (5K)

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Site/App What it does

Price &

UsersDeals Bid low

price Form new

groups

Send invites

& socialBar

Map

Link or export to

other sources

Website

ThrillistLists of

recommended places to eat and

drink

Free889K

Pre-edited √ √ √ √

YelpReview Reserve

for Restaurants & Bars

Free29M

Pre-edited √ √ √

Four square Search Free

33MPre-

edited √ √

Hourdrinks

Search for happy hour deals in a

given neighborhood and

day

Free5.4K

Week Days √

Happy Hour Finder

Search for happy hours nearby

Free191K

Week Days √ √ √

LETS PARTAY

1. Finds happy hours; 2. form groups and get

lower prices√ √ √ √ √ √ √

Competitive Analysis

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Customer Profile – Venues

• Bars around universities (e.g., Columbia, NYU)

• Size: 40+ Seats• Times with free

Capacity • Parties that have

Internet connection

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Customer Profile – Party Organizers

• Social Chairs of Student Groups

• University Event Organizers

• Alumni Groups• EMBA Clusters

(700+ people)

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Happy Hours Matter for Business!!

Observations:

Happy Hour No Happy Hour


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