E245 personallibraries week7

PERSONAL LIBRARIES WEEK 7 Revenue Model & Pivot Reference Library Product Library

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 Discover online goods recommended by friends at the lowest possible price from trusted vendors FB/TW posts from cartpop users you know Bloggers and Media targeting customer segment Retail marketing partners IE/FF/Chrome teams Affiliate Program Providers Affiliate program SEO/SEM/SM IE/FF/Chrome App Stores Developers Marketers Affiliate program fees Licensing Subscription fees Ad revenue AWS Infrastructure SEM Eng & Marketing OpEx

Week 6 Teaching Team Feedback What category are you in? Do you need to pivot? If so, where to? How can you test these different categories instead of refining your existing software solution? Do you need to setup simple landing pages for other ideas, e.g., document management? Pivoting this late can be really hard

Key Decisions Complete “Paper Libraries” campaigns Since it’s a going concern, continue E245 course assignments (revenue model, financial model, etc.) with Peaya Pivot E245 project to “Product Libraries” Like Peaya, users lookup, organize, annotate, and share their product information. New concepts include automated comparison shopping and appraisals of used items. Drop other investigations Document management and verticals (legal, pharmaceutical) aren’t panning out—too many competitors, too much complexity, we have little expertise, advantage or passion

Peaya conservatively priced Below niche competitors, above generalists 2K users 0.4K active last week 0.008K paid users (0.4%) 0.005 new users / day revenue ~ 0.05K / month 7M users 2.6M active users last month 0.25M paid users (~3%) 22K new users / day revenue >1M / month

Connecting with Media Outlets ,[object Object],We can develop a direct/SEO channel via bloggers & social networks our audience frequents ,[object Object],Contacted 45 selected bloggers to solicit feedback Experiment ,[object Object],4 positive responses, bloggers want: ,[object Object]

Reference chart vs. competitors

Next steps: Follow-up to generate reviews

Posting to Forums manually is easy, but time consuming Epernicus Academia.edu ResearchGate

Personal Libraries could be $240K/year business in 2 years Assumptions Core Freemium(up to ~$180K) ,[object Object]

2 FT engineers @$40K/yearAds (up to ~$30K) ,[object Object]

60K user baseContent Sales (up to ~$30K) ,[object Object]

$15-50 mean purchase price,[object Object]

Product Libraries Customer Segment & Value Prop Hypotheses Sam the Shopper Upwardly mobile young professional (some Grad Students) Salary: $40,000-$250,000/year Demographics ,[object Object]

Minimum bachelors from expensive schoolMotivation ,[object Object]

Identifies as influencer for tech products

Fears being cheated onlineBehavior ,[object Object]

Shares online and in person about products he lovesBudget ,[object Object],“The XXX is awesome, I really want one. I know I just bought the YYY, but it’s probably time to upgrade.” Value Proposition Promise ,[object Object],Differentiation ,[object Object],Evidence ,[object Object],Cost ,[object Object]

E245 personallibraries week7

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E245 personallibraries week7