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My linkx final
- 1. myLinkx Home automation in 2010: Standards have been established, components are becoming commoditized yet the mass-market hasn ’t been cracked. Our goal: Make home automation affordable for the average home owner Market Size: $121 bn
Notes de l'éditeur
- Send slide-deck to Steve Weinstein to get feedback Key Learnings (limit to 3 meaningful insights) myLinkx has a viable business because … but most important issues are… How do we want to go about it going forward? What is the split between new homes vs retrofits? Follow the XM/Sirius radio? Or is the home appliance model? Customers buying home appliances after seeing their neighbors, friends etc If we were to start a business today – we will go after this market. You want to show something and pivoted How do customers want to buy the system? Crossing the chasm drawing?
- 3 distinct customer groups: Young professionals (25-35) , l owest willingness to pay Family heads (35-55) , highest willingness to pay Retired couples (55 - ) 20% considered purchasing a system Willingness to pay Initial cost: Average $3,200 (70% in $1k-$3k range) Recurring fees: Avg $30/month, 66% in $20-$40 range Most important features (all 90%): Lights Thermostats Doorlocks Dealers/Potential installers are all small shops and do not have an investment in sales and marketing to scale the business. Need to package solutions for various segments of the market Older homes for sale that need work, it would be low priority. Work with HOAs – Newsletter Recs Concerns over WTP for home upgrades in resales Concerns with appraisals of system (will appraiser take into consideration
- Electrical Contractors Need $500-$800 per $5K install. Excited about $1,500 Assurances of one-day install Need demo & training New Home Developer Channel Conversations with both high end and mass market builders Viable Market and is attracted by our price point Willingness to pay approximately 1%-1.5% of home value Want at least 50% margin for add-on features Home Owners With Systems Major Pain Point: No control over programming system Control to be simpler than current systems (Crestron) Vacation/Secondary Home Owners Spoke to warm and cold weather targets Viable market. Total TAM estimated 4M to 4.5M homes nationwide (small, niche) Channels Security / Electrical largest direct channel Builders / Realtors as spec/indirect channel
- Nurturing 4 Channel Partnerships 2 A/V Installers 1 Electrician 1 General Contractor Created Demo Board to Showcase Technology Lighting, thermostat, security and locks featured Demo ’d to 50+ students/staff at Warren Hall at CBS Launched Website and Online Marketing Campaign 14K Impressions with 79 Clicks (.53%) 2 Conversions on Landing Page Engaged with Google insider to optimize Actively engaged with 4 qualified leads and 2 leads through website (not yet qualified) Engaged with “Greg” at a top tier national homebuilder. Validated opportunity Pressure to add features (A/V) and bring down price point Actively engaged with 2 SF Bay Area & 1 Sacramento security companies. Poor response from 12 other local security providers (SF and Sacramento)
- Nurturing 6 Channel Partnerships 2 A/V Installers 1 Electrician 1 Contractor’s Union 1 General Contractor 1 National Builder Created Website Created first version of the website. Includes information for end customers and channel partners Platform for website includes public blog Relaunched google adwords campaign – Can we restart that please? Re-Launched Website and Online Marketing Campaign 14K Impressions with 79 Clicks (.53%) 2 Conversions on Landing Page Engaged with Google insider to optimize Actively engaged with 4 qualified leads and 2 leads through website (not yet qualified) Got a specification lock with 1 customer. All his engineering and architectural drawing will include the myLinkx processor Met with a code donor (influencal Homeowner) and BCEMBA Alumni Had initial meeting an influencal homeowner. Currently exploring the possibility of integrating his code-set into our product Extensive discussions with Asian Vendor Had extensive discussions with Asian vendor(s) to figure out how to reduce price-points to meet the targets set by Home-Builders. We now have the ability to meet their targets Met with iControl CEO Had very informative meeting with iControl CEO. Reviewed company evolution as well as challenges faced and overcome
- Send slide-deck to Steve Weinstein to get feedback Key Learnings (limit to 3 meaningful insights) myLinkx has a viable business because … but most important issues are… How do we want to go about it going forward? What is the split between new homes vs retrofits? Follow the XM/Sirius radio? Or is the home appliance model? Customers buying home appliances after seeing their neighbors, friends etc If we were to start a business today – we will go after this market. You want to show something and pivoted How do customers want to buy the system? Crossing the chasm drawing?
- Send slide-deck to Steve Weinstein to get feedback Key Learnings (limit to 3 meaningful insights) myLinkx has a viable business because … but most important issues are… How do we want to go about it going forward? What is the split between new homes vs retrofits? Follow the XM/Sirius radio? Or is the home appliance model? Customers buying home appliances after seeing their neighbors, friends etc If we were to start a business today – we will go after this market. You want to show something and pivoted How do customers want to buy the system? Crossing the chasm drawing?
- Send slide-deck to Steve Weinstein to get feedback Key Learnings (limit to 3 meaningful insights) myLinkx has a viable business because … but most important issues are… How do we want to go about it going forward? What is the split between new homes vs retrofits? Follow the XM/Sirius radio? Or is the home appliance model? Customers buying home appliances after seeing their neighbors, friends etc If we were to start a business today – we will go after this market. You want to show something and pivoted How do customers want to buy the system? Crossing the chasm drawing?
- Send slide-deck to Steve Weinstein to get feedback Key Learnings (limit to 3 meaningful insights) myLinkx has a viable business because … but most important issues are… How do we want to go about it going forward? What is the split between new homes vs retrofits? Follow the XM/Sirius radio? Or is the home appliance model? Customers buying home appliances after seeing their neighbors, friends etc If we were to start a business today – we will go after this market. You want to show something and pivoted How do customers want to buy the system? Crossing the chasm drawing?