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Personal Libraries

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  1. Personal Libraries

  2. Insight: No more bookshelves eBooks+150% YoY ‘10 Printed Books -20% YoY ‘10

  3. Version 1.0: Personal Libraries

  4. Original Idea: Personal Digital Libraries Import, organize and share thousands of digital papers

  5. Our Intrepid Team Abhishek BhattacharyyaResearcherEx-NEC engineerMasters EE candidate Xu CuiDesigner/developerStanford Researcher Neuroscience, PhD Mike DorseySerial e-commerce entrepreneurMS/MBA candidate Becky NixonProduct managerEx-Director, Scion GroupMS&E candidate Ian TienDesigner/developer Ex-engineering manager, MSFT MBA/MPP candidate

  6. Invincible Business Model: Version 1.0 SHORT TERMResearchers Lawyers Scientists LONG TERMAvid book readers Professionals FB/TW posts from users you know Company blog, FB, TW, support forums Libraries, Universities, Research Centers Bloggers and media targeting customer segment Academic Database providers Targeted marketing Product development Constant iteration & testing Import, organize and share thousands of papers something-something-something.com Affiliate program SEO/SEM/SM IE/FF/Chrome App Stores Original idea Developers Marketers AWS Infrastructure SEM Eng & Marketing OpEx Affiliate program fees Licensing Subscription fees Ad revenue

  7. Here’s What We Did Version 1.0: Personal Libraries

  8. Got out of the building

  9. Got out of the building • 100+ Interviews Professors, Litigators, IP lawyers, Post-docs, PhD researchers, Engineering Students, Law Students…

  10. Got out of the building • 100+ Interviews • Extensive Surveys

  11. Got out of the building • 100+ Interviews • Extensive Surveys • 33,000+ Adwords

  12. Got out of the building • 100+ Interviews • Extensive Surveys • 33,000+ Adwords • Compete Review

  13. Got out of the building • 100+ Interviews • Extensive Surveys • 33,000+ Adwords • Compete Review • Market Sizing

  14. Got out of the building • 100+ Interviews • Extensive Surveys • 33,000+ Adwords • Compete Review • Market Sizing • 50 bloggers

  15. Got out of the building • 100+ Interviews • Extensive Surveys • 33,000+ Adwords • Compete Review • Market Sizing • 50 bloggers • 6 Social Networks

  16. Got out of the building • 100+ Interviews • Extensive Surveys • 33,000+ Adwords • Compete Review • Market Sizing • 50 bloggers • 6 Social Networks • Usability Tests

  17. Got out of the building • 100+ Interviews • Extensive Surveys • 33,000+ Adwords • Compete Review • Market Sizing • 50 bloggers • 6 Social Networks • Usability Tests • Rapid Iteration

  18. Here’s What We Found Version 1.0: Personal Libraries

  19. Here's what we found: Version 1.0 • GOOD • Subscriptions Rock A great business if we had more users…

  20. Here's what we found: Version 1.0 • GOOD • Subscriptions Rock • Pipelines Optimize Shorter pages raise conversions 80%

  21. Here's what we found: Version 1.0 • GOOD • Subscriptions Rock • Pipelines Optimize • The Web Listens Sites will feature your service

  22. Here's what we found: Version 1.0 • GOOD • Subscriptions Rock • Pipelines Optimize • The Web Listens • BAD • Academics = Cheap Teaching team saw pattern in our data

  23. Run away from this customer as fast as possible.

  24. Run away from this customer as fast as possible. They don’t want to spend money and will incur infinite support and infinite cost.

  25. Here's what we found: Version 1.0 • GOOD • Subscriptions Rock • Pipelines Optimize • The Web Listens • BAD • Academics = Cheap Teaching team saw pattern in our data

  26. Here's what we found: Version 1.0 • GOOD • Subscriptions Rock • Pipelines Optimize • The Web Listens • BAD • Academics = Cheap • Negative Margins Working for peanuts, and hitting wild product success leads to economic failure

  27. Here's what we found: Version 1.0 • GOOD • Subscriptions Rock • Pipelines Optimize • The Web Listens • BAD • Academics = Cheap • Negative Margins • ECM = Boring No adjacent pivots worked for the team

  28. Version 2.0: Trusted Advice

  29. Invincible Business Model: Version 2.0 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 Bloggers and Media targeting customer segment Retail marketing partners IE/FF/Chrome teams Affiliate Program Providers Developing trusted advice and advisors Web marketing Affiliate partnerships Constant iteration & testing Discover online goods recommended by friends at the lowest possible price from trusted vendors something-something-something.com Affiliate program SEO/SEM/SM IE/FF/Chrome App Stores Original idea Developers Marketers Content Library Install base Readership base AWS Infrastructure SEM Eng & Marketing OpEx Affiliate program fees Licensing Subscription fees Ad revenue

  30. New Hypotheses

  31. Here’s What We Did Version 2.0: Trusted Advice

  32. Got out of the building, again • 40+ Interviews

  33. Got out of the building, again • 40+ Interviews • Extensive Surveys

  34. Got out of the building, again • 40+ Interviews • Extensive Surveys • Landing Page Tests Landing pages tested on affluent, career aged professionals, approximately 70/30 male/female, N=800+

  35. Got out of the building, again • 40+ Interviews • Extensive Surveys • Landing Page Tests • Market Research

  36. Got out of the building, again • 40+ Interviews • Extensive Surveys • Landing Page Tests • Market Research • Compete Research

  37. Got out of the building, again • 40+ Interviews • Extensive Surveys • Landing Page Tests • Market Research • Compete Research • Revenue Analysis

  38. Got out of the building, again • 40+ Interviews • Extensive Surveys • Landing Page Tests • Market Research • Compete Research • Revenue Analysis • Two Prototypes Insidely.com wantio.com

  39. Got out of the building, again • 40+ Interviews • Extensive Surveys • Landing Page Tests • Market Research • Compete Research • Revenue Analysis • Two Prototypes • Refined Personas

  40. Young (18-34), affluent women ($50K-80K+) Young (18-34), affluent men ($50K-80K+)

  41. Got out of the building, again • 40+ Interviews • Extensive Surveys • Landing Page Tests • Market Research • Compete Research • Revenue Analysis • Two Prototypes • Refined Personas

  42. Got out of the building, again • 40+ Interviews • Extensive Surveys • Landing Page Tests • Market Research • Compete Research • Revenue Analysis • Two Prototypes • Refined Personas

  43. Version 2.0: Trusted Advice Top ~6M US Influentials (~$9B/year)

  44. Invincible Business Model: Version 2.0 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 Bloggers and Media targeting customer segment Retail marketing partners IE/FF/Chrome teams Affiliate Program Providers Developing trusted advice and advisors Web marketing Affiliate partnerships Constant iteration & testing Discover online goods recommended by friends at the lowest possible price from trusted vendors something-something-something.com Affiliate program SEO/SEM/SM IE/FF/Chrome App Stores Original idea Developers Marketers Content Library Install base Readership base AWS Infrastructure SEM Eng & Marketing OpEx Affiliate program fees Licensing Subscription fees Ad revenue

  45. Here’s What We Found Version 2: Trusted Advice

  46. Findings on "Trusted Advice" • GOOD • Fast Interest Insidely.com Trusted advice site for Silicon Valley/Stanford MBAs Launched 2/15 425 visitors by 2/28

  47. Findings on "Trusted Advice" Ranked #6 by Google for “Stanford Admissions Books” • GOOD • Fast Interest

  48. Findings on "Trusted Advice" • GOOD • Fast Interest • High Conversion 43% clickthrough on Top Admissions Books for Stanford MBAs article Compare to 0.5% clickthrough on ads ~100x difference

  49. Findings on "Trusted Advice" Positive results on “Trusted Advice” Shopping Add-in testing • GOOD • Fast Interest • High Conversion • Needs Addressed See videos at http://factnote.com/c/e245