I decide fast lecture 6 revenue model
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1. IDecideFast is an online bidding platform that aims to increase user comfort in determining bids and willingness to participate through free templates and a personalized bidding assistant. 2. The platform connects bidders to each other and provides eyeball access for advertisers. It generates revenue from premium template fees and advertisements. 3. Key activities include software development, marketing and sales, customer relations to gather feedback, and partnerships with domain experts to develop specialized bidding templates and assist with customer acquisition.
I decide fast lecture 6 revenue model
- 1. IDecideFast – Bidding Business Model Expanding Bidding Online Automated Bidding Bulletin Traffic drivers: Free model Templates Increases comfort in Service for bidders Users 1. Bidding websites e.g. Ibid determining bid and 2. Decision software Customer willingness to Personal Bidders in online firms. Acquisition participate relationships with Auctions: 1. Traditional eBay Auction 3. Realtors domain experts 2. Best Offer eBay (domain experts) Separate Premium 3. Three offers – eBay 4. Name your own price - Models Priceline Modelers/ Web Algorithms Bidders access Bidders in Real Estate: 1. BiddingPal.Com 1. Best Offer Real Estate. fellow bidders 2. Intermediaries e.g. 2. Haggling – Real Estate. Software AppleStore Developers Eyeball access for Advertising Ad companies Companies MKTing/Sales/Admin And Domain Experts And Domain Experts Template fee Software Development People Ads for the free from more Hosting/Infrastructure online auction sophisticated bidding tool models e.g. Sales/initial customer acquisition real estate
- 3. Customer Relations This Week 1. Customer development interviews a. Determine usability of BiddingPal b. Get feedback for improvements 2. Domain expert interviews a. Gain access to real estate data b. Develop partnerships c. Assistance in customer acquisition
- 4. Demand Creation • Realtors • Social Media • Word of Mouth • Blogs • SEO • Communities for bulletin boards • GoogleAds
- 5. Demand Creation • Customer education – Through webpage – Through promotional videos
- 6. Viral Coefficient • >1 for online auction end-users – Based on initial sample – Still needs robust verification • >1 for realtors • Uncertain for real estate end-users – Large variance across small sample size
- 7. Next Week • More interviews with realtors, Association of Realtors • More end-user interviews and beta testing • Educational material production and posting
- 8. Appendix
- 13. IDecideFast Value Proposition 90% of decisions we face do not require mathematical analysis. Just clear thinking. Social Networking Many are faced by a large % of the population. Fast Idea Generation Categorized Post to the World/Friends Collaborative Decision Making e.g. My Decision is: which school should I go to? Designed for the lay person not the Please help me with: decision analyst. 1. Alternatives What do I know? Useful 2. Uncertainties What are my Information What consequences do I care about? choices? 3. Trade-offs Creative Alternatives Clear Values Elements of 4. Frame A Good Decision Sound 5. Pros/Cons What is it that I am deciding? Helpful Frame Reasoning Am I thinking straight about this? Commitment Categorized Decisions to Follow Through Relationships, Marriage, Entertainment, Will I really take action? 90% Clarity by 5% Clarity by Dining, Car, Purchase, Vacations, chatting, simple model School, Bidding, Retirement brainstorming, venting 5% Detailed Solutions to Select Decisions (Templates) (Based on Customer Feedback) Instant Bidding, Which Job, Vacation, Refinancing, Retirement, Messaging/posting Medical Decision
- 14. Exploration of Other Applications -Health Care Jeff Belcoura, PhD, UCSF C. Trogden, Allergan J. Daniels, MD, North Shore Hospital L. Gratkins, MD, Private practice -Other interviews Carle Hospital
- 15. 1. Traffic 1. Expanding 1. Social 1. Online self- generators service 1. Decision bulletin templates/Categories networking (keywords from 2. Customer Users 2. Collaborative • Twitter acquisition beyond 2. Advertising decision making college students companies • Ask.Com 3. Rapid feedback 3. Build/operate/ 3. Template Users • Facebook maintain 4. Detailed Updates) solutions for select problems 2. (templates) Professional/Student 1. Internet 1. Modelers associations/LinkedIn 2. Software vendor 3. MKTing/Sales/ 3. Template Domain Operation/admin Experts personnel 1. Software development 2. People 1. Advertisement 3. Incentives (for initial customer acquisition) 2. Coupons 4. Hosting/infrastructure 5. Gathering data for templates 3. Template fees 6. Survey/questionnaire costs for templates
Editor's Notes
- #2: Insight: domain experts (realtors) are a great source for partnerships and customer acquisition. Because we offer value to each other, they have been added in the value proposition, customer segments, and customer relationships. They help us with customer acquisition and domain knowledge to build specialized templates.