Transcript Document
Mobile App: SocialWizer by WizeWorld By: Steve Humer, Sha yan, Shiyun Hu (Scarlett), Ping Ge (Gail) Product, Price, Place, Promotion Product Price Free, Ad-based version. $3.99 paid version. Local business promotion fee. University donations. Place SocialWizer: University-driven social activity tool. Major U.S. City Universities – Florida, California, Texas, Massachusetts. Promotion Social media channels, e-mail marketing, forum, blogs, word-of-mouth. Mission and Vision Statement Many students in new universities follow others, miss opportunities, explore slowly and develop routines that are not optimal. Our mission is to inspire effective, efficient, and excited social exploration and leadership among university students starting in a new environment. Our vision is to see students do and see everything a city has to offer them and continually create a sense of spontaneity before things become routine. Who is SocialWizer? A mentor who teaches a student what there is to know. A well-experienced, socially-connected student himself. Someone who always has something going on / to do. An avid organizer who knows where everything is. Who’s our focus? Niche Market - Graph Enrolled Freshman Transfers Study Abroad The Scenario First Year, Transfer or Exchange Student… Information Overload -> Analysis Paralysis Business Expectation Buyer power – active & influential. Student Expectation Gain experience, try new things. The Options Frommer’s – and other – guide books. Word-of-mouth influence. Internet searches. Location-based guide mobile apps. Location of Use A Frequent Smartphone Activity Demographics The Problem Current apps: Target the general market instead of the student niche market. Give information, not suggestions, to people. Show unnecessary information. Give incomplete information. No sense of community. Current Market “tellmewhere” Category: Social Identifies the places around you and ranks those based on your tastes. “Field trip” Category: Travel/Local Guide to the cool, hidden, and unique things in the world. “Banjo” Category: Social See where your friends are, around the corner and around the world. The Solution: SocialWizer Niche of newly exposed students. Priority on “simple-city exploring”. Break novelty down into parts. Organize university information. Personalize based on preferences. Wiki-style student contributors. Product Features University/General information – opening/closing hours, food menus, maps, suggestions, information organizer. City-exploration game. Ideas: time- & weather-based. Alerts: student deals, reminders. Suggestions: activities and places. Product Benefits Students Save time – quick plans, avoid sold out events & closed doors. Save money – deals, cheaper stores, half-off restaurants. Lead instead of follow. Socialize easily. Businesses Get access to new customers. Get business advertised. Our Interest Research http://www.surveymonkey.com/analyze/?survey_id=41087303&OPT=NEW Our Interest Research, Continued Our Interest Research, Continued Were they interested in our SocialWizer App? Niche Market - ~30 million annually 2008/09 - 672,000 international students at U.S. schools. [1] Nearly half from: India, China, South Korea, Canada, Japan. [2] Go to: California, New York, Texas, Massachusetts, and Florida. 2008/09 – 262,000 Americans studied abroad. [3] Top 3: UK (33,300) – Australia (11,000) – Ireland (6,900) [4] Fall 2011 – 21,575,000 U.S. college enrollment. [5] 1 in 3 students transfer U.S. universities before graduating. [6] Fleeing to: Florida, California, Texas. Business Influence Business Influence, Continued PESTLE Analysis Political Economic Advanced social tools, superior gadgets (Google Glass). Legal Trends in social networks, mobile phone education and reliance. Technological Student and business buying power fluctuates. Social Ethical and honest advertising. Availability to offer certain content. Environmental Time of year fluctuations, cultural needs, climate changes. Strengths 1. Niche market. Specialized. 2. Market-focused. 3. Personalized product. 4. Suggestions over information. 5. Strong connection to location. Opportunities 1. Growth of mobile. 2. Information saturation. 3. Poor alternatives. 4. Small start-up costs. 5. Travel increasingly easier. 6. Consumer attention is high. Weaknesses 1. Niche market. Small. 2. Students are tighter on money. 3. New brand. 4. Global access takes time. 5. Fewer benefits in small cities. SWOT Threats 1. Huge competitive interest. 2. Maintaining up-to-date content. 3. Consumers falling into routine. 4. Subjective suggestion controversy. 5. Lack of financial interest. Porter’s Five Forces Analysis Threat of Entrants – High Threat of Substitute – Moderate No direct supplier necessary. Competitor Rivalry – Moderate Word-of-mouth dominates, hard-copy stagnates. Supplier Power – N/A Low start-up cost, growing market, high interest. Some alternatives, similar products. Buyer Power – High Users drive success; contributions needed. Companies buy ads, promotional space. Purchasing Decisions Students Low-level awareness. Repetitive advertising -> trial. Emotional investment. Awareness precedes trial, if satisfactory = customer. Businesses Market awareness. Potential profit -> trial -> make money -> repeat buy. Branding Name WizeWorld, Wizer products. Flagship product: SocialWizer Category Distinction Identifiable Logo / Design Icon / Website Humanize App Category Social / utility dominates. Icon Strategy Clear, simple, and relatable. Emphasize social discovery. Green – balance and growth – Black – secretive and unknown. Change icon if downloads stagnate. Website Strategy Incorporate green & black colors. Product description, images, news. SEO activities. E-mail list & forum to build a community. FAQs, videos, and social network information. Sample Website Market Content Strategy Emotionally connect. Emphasize community importance. “Powered by students.” Ask for feedback. More research & data collection. E-mail lists / E-mail campaigns. Social Media Strategy Facebook / Twitter / Google+ presence – Free Blogs Customer relationships and feedback. App-focused, review-focused – build relationships. Video Short, creative YouTube videos. Market Penetration Free Price, High Quality Multiple Platforms Android, iOS, Windows University-based groups in cities. Build a following, claim market share. < 150 people work best. Targeted press releases, organizational events. Beta Testers / Contributors “The Wikipedia of the social realm.” Information built up slowly by the community. Start in major U.S. cities. Incentives Account “titles.” High contribution = prizes / discounts. Promotions Contests / Giveaways / Sales Loss-aversion focus. Account luxuries. Improves contribution. Improves downloads and interest. Android Analytics Flurry/Pinch Media, Mobclix. Monitor app usage, frequency, most used features. Usage Analysis Market-oriented updates. Reviews drive improvement. Market, Blogs, Social Media networks Find trends. Find faults. Demographic review. First-Year Costs - £3,600 (+£31,500) Development Registration Fees Self-developed (50 hours @ 30/hr): £1,500 Marketing & Advertising Android + Apple (£100) Website Development Self-developed (1,000 hours @ 30/hr): £30,000.00 £2,500 Miscellaneous (Graphics, Domain Registration, Books, Travel) £1000 First-Year Revenue - ~£35,900 annually AdMob, Madvertise, Mobclix, RevMob Local Business High Daily User Sessions = High Ad Revenue 5,000 sessions daily = ~£7 daily = ~£35,000 annually. Establish app before charging. Many companies, much exposure, small variable price. Paid App $3.99 each - 30% commission = $2.79 profit 10,000 free apps -> 5% conversion = 500 paid apps 5,00 x $2.79 = $1,395 = ~£900 Benefits WizeWorld Brand Value Free App - Ad-based revenue. Activates brand and community. Business relationships Feature spots on app. Higher suggestion ranking. Maintain University students after University. Brand Extensions – Free Ad-based and Paid Apps One brand account to encourage use. Future Move toward accelerated-learning. “The First 20 Hours” “4-Hour Chef” Create related brand products. TalkWizer, ReadWizer, HabitWizer, EatWizer, StudyWizer. Focus on community building, consumer connection. Up-sell. Cross-sell. 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Concerns? Suggestions?