Dipidee\'s Final Pitch
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Group Achievement of InOneWeekend 2009, Dipidee~~
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Dipidee\'s Final Pitch
- 1. Jump On It!
- 2. DIPIDEE Overview Dipidee connects vendors with unsold inventory to consumers open to spontaneous experiences at a great price. Mission Our mission is to introduce new consumers to businesses that deliver great experiences. Dipidee provides the ‘nudge’ that consumers need to try something new, and the channel for the vendor to reach the ‘accidental customer’. Values We value the spontaneous experiences that make life fun!
- 3. Problem Overview Unsold Seats Dipidee.com What to do?
- 4. The Solution Connecting consumers with last-minute, spontaneous experiences at a great price.
- 5. Product Roadmap Phase 2 Expanded User Experience Customization Additional Vendors Phase 3 Intelligent Recommendations Mobile Ad Model LAUNCH Core Experience Technology Foundation Messaging Platform Oct 2009 Jan 2010 April 2010 Cost: TBD Cost: TBD Cost: TBD
- 6. Dipidee Gets to Know You! A Dippidee-Doer will complete a profile over time which allows Dipidee to customize offers and only push relevant data to mobile devices. Which one most describes you?The Sports FanI love Rock n RollMore Bach than BeerOn BroadwayFilm BuffPamper MeThe Stranger the BetterThe Romantic The AdventurerAre you single or married?Kids? How many?Do you like to plan group activities?How far are you willing to travel for a good time? When you go out, do you consider yourself to be: Cheap Thrifty Wish I had more The Big Spender Select these other services which interest you: Advice & Instruction Business & Computer Diet & Fitness Lessons & Tutoring Other Artistic Services Custom Crafts Interior Design Music & Poetry Photography Event Planning Graphic & Logo Design Home Improvement Services Media Editing & Duplication Printing & Personalization Restoration & Repair Electronics Jewelry & Watches Musical Instruments Web & Computer Services Other Services
- 7. Online Market Size Cincinnati represents approximately .7% of the national population The top 30 markets represent 60% of the national population Source: Compete.com
- 8. Local Web Site Traffic Many of these sites have heavy media and/or advertisement backing. Question: What resources do we need to generate unique visits our site? Bold: non-Cincinnati
- 9. Market Supply Assumptions Available Ticket Distribution Avg. Ticket Price $19 $24 $41 $37 $16 Recommendation: Concentrate sales efforts on high value tickets to drive average ticket price
- 10. *Assumes 1-10% of total ticket inventory is unsold and dipidee captures 10% of unsold inventory
- 12. Sales kits for partners/orgs
- 13. Media kits with social media release
- 14. Blogger buzz through beta preview
- 15. Social media magnets to build community
- 17. Events at major stakeholders/venues/orgs
- 18. Brand ambassadors/street team at venues
- 19. Bus wraps
- 20. Cooper minis for sales team
- 21. LED display on fountain square
- 23. This serendipitous moment brought to you by dipidee
- 24. Chad Johnson practicing footwork and Paavo Jarvi at Cincinnati ballet
- 26. Buck slips handed out at events
- 27. Taste
- 28. Pig
- 29. YP
- 30. Octoberfest Partnerships with ETA, CincyChic, CincyUpdate, Metromix, Cincinnati.com, DCI, CincyUSA.com, Momslikeme.com, GiveBackCincinnati, YPCincy.com, HYPE, other family-centered orgs Advertising Official Visitors’ guide (targets convention and out of town guests)
- 32. Finance / Operations Information Technology Sales and Marketing 3C’s Inside / Outside Sales Application Development Strategy and Risk Management Customer Service Payment Transactions Business Development Product Development / Vision Product Development / Vision Product Development / Vision Responsibilities Shared Design Infrastructure AP/AR, Tax, Legal & Audit Marketing Project Management Facilities / Resources
- 34. Core dedicated leadership (3C's) -Rockstars!
- 35. Scalable partnership of consistent contractors
- 36. Technology
- 37. Proven technical infrastructure and website to support Dipidee business process
- 38. Working Cash Transaction Engine
- 40. Defined Business / Sales Strategy
- 41. Capital to support financial planFinance / Strategy Information Technology Sales and Marketing Finance / Strategy Information Technology Sales and Marketing Finance / Operations
- 43. Build to fee basedNo per transaction $ Fee – unrealistic for small avg ticket Primary Costs Personnel – CEO/Sales, Designer, Developer Marketing – leverage inOneWeekend team - guerilla marketing, low cost
- 44. Breakeven Model (1 market) Is it realistic to achieve 367 transactions / day (11,169 / mo) realistic? Start with bootstrap model and build up ($1,000 marketing, rest in personnel) Will initial employees accept sweat equity and/or incentives in place of $’s?
- 46. Appendix
- 50. First to market purchasers
- 51. Loyal to service provides
- 55. Interested in more events
- 56. Attends events
- 57. Price sensitiveLOW HIGH LOW EVENTS
- 59. Tech savvy, mobile device
- 60. Active
- 61. Sports fans
- 62. Arts & Culture patrons
- 63. Yuppies
- 64. Boomers
- 65. Looking for a deal
- 66. AHI 40k -
- 68. Mobile
- 69. Creative class
- 75. Satisfied with current customer base
- 76. Large base of loyal customers
- 77. Satisfied with current customer base LOW HIGH LOW Customer Database
- 79. no risk all reward
- 80. Focused approach to customer acquisition
- 81. Opportunity to sell last minute unsold inventory at great price
- 82. Protect against loss based on their missed opportunity of their own internal sales
- 86. new customer acquisitionBallet Cinci Playhouse in the Park Taft Theater Ensemble Theater Theater Guild Know Theater Mid Point Music Festival Zoo Museum Center Coney Island Art Museum Kings Island UC Sports Freedom Center Xavier Sports Miami Sports Cyclones Kentucky Speedway Riverbend Aquarium Symphony
- 88. By 2013, there will be about a 30% growth in e-commerce
- 90. 37,000 small businesses in Cincinnati
- 91. 15,540 B-C businesses. 20% to 50% of these business can use our expertise. Historic Perspective: 100 people in one weekend – 3500 work hours Competition: National Local 3.5 million unique monthly visitors $199.00 M Operating revenue 2.4 million unique monthly visitors $86.00 M Sales 364,000 unique monthly visitors in1comps.pdf
- 92. Market Supply: Key Local Venues 46 total
- 93. Business Perceptions: Use of secondary ticket sales websites are on the rise: Local interested organizations: Cleveland Orchestra Consumer Perceptions: Local Consumer/user perceptions: Quality website distills trust and captures a sale Discounts can undermine perceptions of product quality 100% positive feedback – Cincinnati Reds & Cleveland Opera have both shown interest in the prospect.
- 94. Things to Consider Existing broker agreements Which organizations have savvy marketers
- 95. Intellectual Property(Assets & Protection Strategy) Domain N/A Logo Trademark Site Design Copyright Database N/A Proprietary Analytical processes Patent or trade secret
- 96. SWOT Analysis
Notes de l'éditeur
- 2 Part Problem in the MarketplaceVendorsHave excess, time-based inventoryExisting methods of selling excess inventory are ineffective and inefficientTrouble reaching new clientsConsumersLack of awareness of many of these opportunitiesRisk averse toward trying activities with high perceived costTrends are toward more last-minute purchasesConsumers are more likely to make impulse purchases if Find a “deal”Purchasing is convenient and easy
- Didn’t account for: movie theatre tickets, winter seasonal events, fear fest, small venues, salons or other services
- Many vendors have seasonal business40 large venues in CincinnatiHistoric100 experientially diverse individuals come together to create, develop and launch a company in one weekend. August 28, 2009- Start-up was narrowed down from a set of ideas.The idea “just in time” concept where we sell excess inventory or time anywhere from goods to services was conceptualized. The recognized problem was identified as excess inventory and unbooked or cancelled appointment time of service providers. The opportunity was recognized as the need of an efficient solution to connect Business with the consumer. August 29 2009- idea evolved into a broad concept of a Scheduler program and a ‘deal of the moment” concept. The focus being on last minute deals. The initial Short-term growth plan is to focus on Greater Cincinnati area. The initial focus of the business is to sell excess game and venue (including opera, theater, symphony etc…) tickets at the last moment. CompetitionStubHub (stubhub.com) – StubHub is an online marketplace for concert, sport, and broadway event tickets. 3.5 Million unique monthly visitors as of 7/2009 (Compete). $199.00 M Operating revenue, Estimate (Gale).TicketsNow (ticketsnow,com) – TicketsNow.com offers a safe, secure, and reliable online marketplace for ticket reselling. 2.4 Million unique monthly visitors as of 7/2009 (Compete). $86.00 M Sales, Estimate (Gale).RazorGator (razorgator.com) – RazorGator is an online marketplace for the reselling of sports, theater, and concert tickets, as well as vacation packages for various sporting events. 364,000 unique monthly visitors as of 7/2009 (Compete).Fandango (fandango.com) – Fandango entertains and informs consumers with exclusive film clips, trailers, celebrity interviews, fan reviews and news, while offering the ability to quickly select a film and buy tickets in advance. 10 Million unique monthly visitors as of 7/2009 (Compete).PerceptionsWebsite Usage Statistics79% of consumers prefer lesser-known businesses with quality websites over well-known businesses with poor websites.88% of consumers said the quality of the website is important to earn their trust about the business.http://www.sfusionblog.com/interesting-statistics-on-website-usage-brand-effectiveness-and-consumer-perception/Price discounts are by far the most common form of sales promotion employed by marketers, and their use has steadily increased in recent years. Existing studies suggest that framing an offer as a discount produces a reliable positive effect on consumer perceptions of value.Discounts have also been said to undermine perceptions of product quality.The price-quality literature suggests that discounts are most likely to induce negative quality inferences when no additional assurance of product quality is provided.should be better at communicating value to consumers than discountshttp://www3.babson.edu/Publications/JR/PastIssues/Volume81Issue1/Effects-of-Pricing-and-Promotion-on-Consumer-Perceptions-It-Depends-on-How-You-Frame-It.cfmInsight: include critic reviews of events, number of stars, past viewers personal reviews. (creates trust in the event to fight the perceived discount price is for a poor quality product) Email Alerts are viewed as spam and never received. Stubhub faced the problem and used a Goodmail certified email to bypass spam filters.Industry – Cleveland opera – think it’s a real good idea! TKTS NYCArts org don’t discount, you have savingsHighly educated, but low income!50% off high end tickets,1000’s available in a month!
- Name Key Local VenuesIdentify capacity, event frequency, and seasonEstimated unsold ticket market supplyCalculate average cost per ticket
- http://www.pittsburghlive.com/x/pittsburghtrMarket TrendsDipidee markets are movie theaters, sporting events, cultural arts, night life, and music venues. These markets are Furthermore, there are hundreds of thousands of service oriented companies in Cicinnati. In specific, there are approximately 37,000 small businesses in Cincinnati (source: D&B Database). Dipidee can approximate that there are 15,540 B-C businesses. 20% to 50% of these business can use our expertise. In general, there are fourty specific large venues selected by the sales team. Hundreds of thousands of customers attend these venues. More and more customers are looking online for tickets for various services. eMarketer.com projects that by 2013, there will be about a 30% growth in e-commerce. The estimated revenue for B2C e-commercs will be $319billion. Even if we cap half a percent of this market, we will have a viable organization. ib/s_472007.html
- Response to Insights from SWOT / the Experience – The cheap limo