Download - Politik Inn_Business Plan_2
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Politik Inn
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Agenda• Background• Market Analysis• Competitive Landscape• Business Canvas• Consumer Insights• Pivoted Model• Key Value Proposition• Prototype• Revenue Model• Critical Success Factors• Milestone• User Acquisition• Risks• Team• Company• Our motivation• Exit Strategy
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The Social Media Space: Cluttered
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What is Social Media?• Primarily a two sided market• Even the Instant Messaging Services like Yahoo, AOL, etc also fall
under the same broad category• Google Search & Bing• Metcalfe’s Law
Subsidized Premium Pricing
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So which are the ones that stand out?
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So why do they stand out? • Initial Segmentation to get the critical mass
Platforms Primary Initial Target
College students
Professionals
Celebrities
Dating
LA musicians
Doctors
Based on Users Based on UsagePlatforms Primary Initial Target
Rich Media
Pictures
Stealth mode / Privacy
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Let’s watch the video
https://www.youtube.com/watch?v=n6ve2FQx21Q
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So the next Big Question is…
• Do we have a common platform for politics?• Or for the politically active people?• Or for the political eco system?• Or maybe just for politicians?
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Our Initial Idea
Voters/Common People Elected Politicians
Non - Elected Politicians
Entire political eco
system
Political Parties
Political ScientistPolitical Journalist
Public policy MakerMacroeconomistProfessors/Experts/Authors
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Market Analysis
• “Politicians use Twitter knowing that journals and newspapers follow them there.”
• “The role of [Social Media] in increasing political engagement and electoral participation is neither clear nor simple.”
• “Contrary to concerns about social media causing civic disengagement, numbers out of Pew Research show that 66% of social media users actively engage in political activism online.”
• “While smartphone penetration stood at only 14 percent during the last election in Q4 2008, it’s now at 57 percent as of August 2012. So it’s little surprise that both major party candidates have developed their own smartphone apps and mobile sites to promote their campaigns to this growing audience of smartphone owners.”
Source: http://epthinktank.eu/2014/02/12/the-role-played-by-social-media-in-political-participation-and-electoral-campaigns/; http://mprcenter.org/blog/2013/01/how-obama-won-the-social-media-battle-in-the-2012-presidential-campaign/; http://www.nielsen.com/us/en/insights/news/2012/all-politics-are-local-presidential-candidates-embrace-mobile-apps.html
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The Social Media Success of Barack Obama 2008The 2008 Election
Barack Obama created his own social network for his 2008 campaign.
"Over the past 21 months, millions of individuals have used My.BarackObama to organize their local communities on behalf of Barack Obama. The scale and size of this community and its work is unprecedented. Individuals in all 50 states have created more than 35,000 local organizing groups, hosted over 200,000 events and made millions upon millions of calls to neighbors about this campaign. There can be no question that these local, grassroots organizations played a critical role in Tuesday's victory.”
The website was eventually swallowed by Barack Obama’s main website and most of the functionality disappeared.
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The Social Media Success of Barack Obama 2012The 2012 Election“Obama is the first social media president. In 2012, Obama not only had the expertise on his team, he had an established social media machine up and running. Since social media is about relationships, having a running start building those connections is a distinct benefit.”
Smart Social Media Strategy Matters“As the 2012 elections show, social media is no longer the ‘exciting new frontier’ for political campaigning. Social media is a normal and central form of communications with distinctly different properties than traditional mass media approaches. Obama has set the bar for future campaigns but social media and network structures should be given serious attention in the media strategy, whether it’s for politicians, organizations, brands or public service initiatives.”
Source: http://mprcenter.org/blog/2013/01/how-obama-won-the-social-media-battle-in-the-2012-presidential-campaign/
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Brigade Volkalize Microsoft Town hall Political People
Segments The whole political ecosystem
The whole political ecosystem
The whole political ecosystem
The whole political ecosystem in Italy
# of users Unknown. Will be getting the
Causes.com users, but not organic growth
N/A N/A N/A
Business Model Database/Analytics. Database/Analytics(?) Pay-for-use. Customer/Voter targeting. Database/Analytics.
Database/Analytics.
Visitors 28,088 (March, 2015)
2,176 (March, 2015)
N/A 0 (March, 2015)
Press TIMEPoliticoMashableThe VergeTechCrunchVentureBeat
RedstateSharkTank (FL)
MashableInformationWeek
Employees 53 1 N/A 8
Social Following Facebook – 1,461FTwitter - 1,185FLinkedIn – 433F Instagram – 107F
Facebook – 56,000FTwitter – 11,100FLinkedIn – 29F YouTube – 7F
N/A Facebook – 2380FTwitter – 272FLinkedIn – 31FYouTube – 24F
Competitive Landscape•Almost a blue ocean product
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Competitors/Partners
• Popvox• Maplight• Thunderclap• Sunlight Foundation• Action Sprout• Buzzoole• Action Kit• Nation Builder
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Business CanvasProblem Solution Key Value
PropositionUnfair Advantage Customer Segment/User Types
1) No central repository to know and connect to our politicians.2) Low interest from masses in politics.
1) Create a dynamic repository (updated by users consistently) of related content for the political eco system.2) Increase engagement and interactions between voters and politician.3) Connect the entire political eco system.
1) Will increase transparency2) Will reduce corruption3) Will connect politicians with the mass4) Politicians can in turn use this for their campaign and voter research
1) Blue Ocean: No major competitors as of now.
1) For the millennial and Gen X2) Two sided market: For the entire political eco system such as Politicians at all levelsVoters/Common PeoplePolitical PartiesPoliticians who contested and lost Political scientistsJournalist/reporters specialized on politicspublic policy makers/decision makersMacroeconomistsProfessors/Experts/Authors related to this field
Key Metrics Channels
1) No. of politicians who signed up2) Site traffic3) No. of users4) Engagement metrics (comments/likes, etc)
1)Own WebPages and mobile apps along with datacenters.2) Will be integrated with all leading social media channelsand digital newspapers
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Do they care? Hell Yeah!!
Stage1
Stage 2
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Consumer Insights
• “Most elected officials do not even have up-to-date profiles on their own website.”
• “Politicians don’t realize the utility of the existing platforms.”- Ford’s faster horses
• “Need a platform where people are eager to share their thoughts.”
• “If there is a platform that people can bitch and moan about elected officials.”
• “The site could be something like Rate-my-professor.”• “There is no Yelp for politicians”.
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So we Pivoted (Per Lean Start Up)
•From a 2 sided platform to a User Generation Model
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Key Value Proposition
• Transparent and Unbiased Politician Information• Gamification to generate interest• Flags tied to issues• Causes• Customized Political Feeds• Online Polls and Analytics• Campaign Management• Donation Management & Fund Raising
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Prototype
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Revenue: The Numbers
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What’s common amongst them?
Source: https://medium.com/@todfrancis/what-did-billion-dollar-companies-look-like-at-the-series-a-e53ea8043a85
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Start Up has Stages
• Empathy(Problem Validation & Solution Validation)
• Stickiness Stage• Virality Stage• Revenue Stage• Scale Stage (Revenue from other channels)
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Revenue Streams: Social Enterprise• Advertising
– Local (Pay Per Click) Sponsored Ads (Pay Per Click)
– Brand AdvertisingDisplay Ads (Pay Per Click)Banner Ads (Pay Per Click)Sponsored Ads (Pay Per Click)
• High price for expert, extreme and analogous users (Political Journalist, Public policy makers, Professors, academicians)
• Price for no advertisements• Resale of data (APIs, Email, mobile ads )• Retargeted Ads• Tiered pricing • Partnerships• % of donations (Pay for Performance)• Subscription Model
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Advertisement Revenue Models
• Cost per Thousand Impressions (CPM)• Pay Per Click (PPC)• Affiliate/Revenue percentage share
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The Revenue Model
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Is this a good number?
Source: http://www.businessinsider.com/yelp-analysis-2012-3
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Everything is Relative: Usage
Source: http://blog.backupify.com/wp-content/uploads/2012/04/Backupify-Social-Data-Infographic-.pdf
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Content = Usage = Monetization
Source: http://blog.backupify.com/wp-content/uploads/2012/04/Backupify-Social-Data-Infographic-.pdf
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Critical Success Factors
• Usage• Search• Monitoring & Metrics• Community Managers• Bias free platform (Astroturfing)
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Milestones
• Releasing for alpha testing: 09/07/2015• Roll out for beta testing: 10/5/2015• Acquiring 100 users: 11/16/2015• Acquiring 500 users: 02/15/2016
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User Acquisition Strategy
Awareness: SEO, Survey, Concept Video, Viral Videos, Word of Mouth, 1-1 Sales to Politicians
Consideration: Event Marketing,1-1 Sales to Politicians
Preference: Political Evangelists, Word of Mouth,1-1 Sales to Politicians
Action: Email Marketing, Notification, Cognitive Biases in the product
Loyalty: Cohort Analysis
Advocacy: Survey
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Risks
• Key team member leaves• Not meeting deadlines• Not getting enough investment for scaling• Competitor: Brigade• Dispute with investors• Lack of marketing and advertisement
strategies
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The Team
• Great solutions can’t be built without a great Team
• A total of 10 members • 3 interns• A Phd and a Serial Enterpreneur
Over 50 years of Cumulative Experience• TEAM: Together Everyone Achieves More• Serial Entrepreneur (Member of One Young
World)
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The Advisors• Morgan Pehme
Director of Effective NY : EffectiveNY is a nonpartisan government watchdog group and public policy think tank dedicated to finding and implementing innovative solutions to make New York better.
• Kate Albright-HannaNew York-based journalist and Emmy Award-winning documentary filmmaker covering hope, change, fear, and the use and abuse of power. Worked with Obama and Howard Dean.
• Aaron WelchCEO of Advomatic (a company providing IT services for Campaign Management)
• Gianluca Giansante PhD, Top Italian political journalist, Author of the “The online political communication (book reading by former Italian prime minister Enrico Letta) ”
Source: http://effectiveny.com/
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The Company
• Politik Inn• S - Corp • Based out of New York City (NYC)• Part of the NYC Bitcoin Incubator Program• Filing a provisional patent
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Achievements so far…• Facebook page: https://www.facebook.com/Electifi/• slideshare link: http://www.slideshare.net/sblank/politik-inn-nyu-2015• Released the app in app store which is now in beta phase (invite only
mode).• -- This tech start up is operated out of the New York City (NYC) Bitcoin
Incubator• -- Now part of the City University of New York's (CUNY) Incubator
program• -- Was part of the Lean Launchpad class with Steve Blank at the New
York University (NYU) Entrepreneurial Institute• -- Now part of the NYU Stern School of Business' W. R. Berkley
Innovation Lab• -- Attended a Y Combinator event at NYU for this start up
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Why do we want to do this?
• “Entrepreneurship isn’t about profits, it is about creating solutions that will change the world” – Steve Case
• We believe in this idea.• We are eating, sleeping and drinking
this idea!!• It is about converting our passion into
profession.
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Has an Inbuilt Potential to Scale
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Exit Strategy
• Monetize Patents and Trademarks• Sell Off• Merge with Competitors/Partners• Resell Data
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Back Up
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Brigade Volkalize Microsoft Town hall
Political People
Segments 5 5 5 6
# of users 6 7 N/A 7
Business Model 5 7 6 6
Visitors 7 7 N/A 0
Press 6 7 6 0
Employees 4 7 N/A 7
Social Following 7 6 N/A 7
Internal Rating
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Detailed Competitive AnalysisCategory Competitor Features Their key value propositionPains points that they are not solvingOur key value propositionPolitical Information
Popvox Information on Bills in congress- User opinions- Politicians involved- Stakeholder opinions
Information about bills in congress and who are involved with each bill
Does not gather up the users opinions in a meaningful way and does not enable back and forth communication with on the bill in question
Our platform is designed for interaction and expression. Creating intellectual conversation on how bills and politicans are affecting society and stakeholders (or the other way around).
E-politics
Provides- Books- Content: Articles, Podcasts etc- Events- Consulting
Shares knowledge on how politicians and political institutions can utilize digital media to promote themselves
Only offers recommendations and consulting, but no actual hands on solution
We will create a easy-to-use campaigning tool for our website. To reach and measure the appropriate demographic effortlessly
Maplight
Connects money with political votes through:- Tracking donations- Allowing companies to track their donations- Tracks interest groups
They reveal the influence of money on politics - let people know who paid money for what
Does not allow user interaction and expressionDoes not allow much two way communication
Our solution will give users a chance to express themselves and their political views. They can discuss the influence of money through several different interections
Sunlight Foundation
Congress- Information on bills - Involved politicians - Status - Activity- Information on politicians - General Info - Area represented - Social pages - Bills sponsored and voted on- Info on committees- Information on hearingsOpenStates- Find your representatives- Local committees, legislators, bills and events- District map
Information on what is going on in the areas you care about and who and what is affecting it.
Get information on bills in congress and who influences those bills
Lacks user expression on bills, committees and politicians
Our platform is designed to be social and enable user expression on what is going on in the political system
Causes
Causes.comFunctionality- Campaign for your local cause- Support others' causes
Allows people to campaign for their own causes and support other peoples causes
Does not allow interaction with other peoples campaigns beyond supporting them. The company has been bought by Brigade
Allows user to discuss and share their contributions to a cause
Social
Brigade Media UnknownEnables civic engagement and political expression Unknown Unknown
VolkalizeA forum on politics- Post threads on your opinions and questions on a theme- Respond to others threads Allows free expression on political issues
Does not allow any interaction beyond what is discussed in a thread and no information is displayed beyond threads
We will provide an interactive site where people can discuss politicians and causes as well as interact with each other
Political People
Functionality- Post your opioions- Interact with others post- Post polls- Political calendar
Allows free expression on political issues and interaction with politicians (provided that they register for the site)
Does not give any details or personal information on politicians and requires the politicians to be on the site to be refered to. The site didn't have solid base and had no functionality beyond interacting with friends
Our solution is a repository that gives information on politicians and allow people to review them
Campaigning Tools
Thunderclap
Spread your message by- Inviting your friends to give you access to your social reach- Set time and at that time the message will be posted to all supporters social page- Gives a database of supporters from campaigns to have them available for yoyr next campaign
Enables your idea to be heard in the cluttered space that is social media
Enables outreach to the masses, but might not reach the appropriate audience
We will get appropriate analytics and data about users to be able to target more precisely
ActionKit
Toolkit for- Fundraising- Mailing- Advocacy- Mobile friendly pages- Database creation and analysis- Events- International targeting (translation etc.) A toolkit for simplifying your campaigning
Enables outreach to the masses, but might not reach the appropriate audience
We will get appropriate analytics and data about users to be able to target more precisely
NationBuilder
Functionality- Social matching- Website setup- Donation solutions- E-mai, sociall and text message blasting- Web and social addons- Virtual currency for gamification
Simplifying your campaign by taking care of the social, website, donation and communication aspect for you
Enables outreach to the masses, but might not reach the appropriate audience
We will get appropriate analytics and data about users to be able to target more precisely
ActionSproutFacebook app to create engagement for non-profits
Grow email lists, cultivate donors, and increase your Facebook engagement with ActionSprout–an easy to use Facebook app built specifically for non-profits. The app is limited to Facebook
We can grow your reach to the right audience while also reach other social media platform (social sharing)
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Detailed Competitive Analysis
Microsoft Office Excel Worksheet