get me there

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Get Me There the Punctuality app 40 Total Customers Interviews By Meghana Koushik David Glidden Vasanth Ganesan Michael Plax

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Venture Lab 2012 Final Report for OAP

TRANSCRIPT

Page 1: Get me there

Get Me Therethe Punctuality app

40 Total Customers InterviewsBy

Meghana KoushikDavid Glidden

Vasanth GanesanMichael Plax

Page 2: Get me there

Meet Megan

• 25 Years Old

• Marketing Manager

• Lives in LA, California

• Works 20ml from Home

• Wakes up at 7:30AM

• Drives BMW 335i from 0-60 mph 4.8s

• Commute to Work 45min (101/405 freeways)

Page 3: Get me there

Megan’s Day :- )

• 7:30AM – iPhone alarm

• 7:35AM – turn on TV news channels

• 7:35-7:50AM - Beauty time

• 7:50-8:10AM - Healthy Breakfast

• 8:10 – 9:00AM - Drives to work with KCRW

• 9:00-5PM - Work :-)

Page 4: Get me there

Megan’s Day :- (

• 7:30AM – iPhone alarm

• 7:35AM – turn on TV news channels

• 7:37AM – news update 101S heavy traffic

• 7:37 – 7:47AM ...O.....m....F…….G……….

• 7:47 – 9:00AM Drives to work with cold coffee

• 9:00-5PM - Work :-(

Page 5: Get me there

Megan’s Day :- )

• 7:10AM – Get Me There alarm• 7:11AM – turn on TV news channels• 7:14AM - news update 101S heavy traffic• 7:15-7:35AM - Beauty time• 7:30AM – iPhone Alarm• 7:35-7:55AM - Healthy Breakfast• 7:55 – 9:00AM - Drives to work with KCRW• 9:00-5PM - Work :-)

Page 6: Get me there

Megan Quotes 1

• I need to be aware of special conditions on my commute to work since it's important to get to work on time.

Page 7: Get me there

Megan Quotes 2

• Get Me There Alarm wakes me up early and saves my day when there is delay in traffic

Page 8: Get me there

Megan is not alone

• According to census figures (USA), the number of total driving commuters are 119,393,000.

• Those with commutes 20 minutes or longer: 56,324,184

• How many of those people own mobile phones? 19,159,220 (34% x 56,324,184)

Page 9: Get me there

Get Me There

• The new service that calculates the amount of time it takes for them to get to work based on traffic conditions and reminds them when to leave to make it on time to their destination.

Page 10: Get me there

Get Me There

Page 11: Get me there

Get Me There – Hypothesis 1

• People will use our product

- People need to be aware of special conditions on their commute to destination(work/event) since it's important to get to destination(work/event) on time.

Page 12: Get me there

Get Me There – Hypothesis 2

• People will use our product

- People are willing to use the new service that calculates the amount of time it takes for them to get to work based on traffic conditions and reminds them when to leave to make it on time to their destination

Page 13: Get me there

Get Me There – Hypothesis 3

• People pay for our product

- There is a sufficient number of people who are going to pay for the product and expected return of the venture consistent with the risk of the venture.

Page 14: Get me there

Get Me There – Experiments

• The team reached out to a number (40) of prospective customers through face to face interviews as well as through a survey that was distributed through team member social networks. Link to the User research/feedback questions: goo.gl/SwK5X

Page 15: Get me there

Get Me There – Results

• People will use our product

Page 16: Get me there

Get Me There – Results

• People will use our product

Page 17: Get me there

Get Me There – Results

• People will pay for our product

Page 18: Get me there

Get Me There – Results

• People will pay for our product –Yes Employees, No Students

Yes Drives Car, No Uses Public Transportation

Page 19: Get me there

Get Me There – Results 2

• We found that people are interested in this app not for every day but for the special events planning.

Special occasions:

• Birthday

• Anniversary

• Celebrations

Page 20: Get me there

Get Me There – Results 3

• We found that the readiness to pay for a product was depending on the importance of the planning.

Page 21: Get me there

Get Me There – Results 4

• We found that there alternative applications that provide additional features: GPS (Google Map, Map Quest) but does not have any sort of alarm or notification feature.

Page 22: Get me there

Get Me There – How Big is Market

• Conservative Market Size Estimate: $40,000– Based on two different market sizing approaches.

• App Market -> Dollar Value

• Potential User base -> Dollar Value

$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

Conservative Moderate Aggressive

Re

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s (I

n t

ho

usa

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s)

Page 23: Get me there

Get Me There – Conclusion

• We are encouraged that people think that it is a good idea and that there are not many other products out there that solve this problem.

Page 24: Get me there

Get Me There – Conclusion

• We believe that the problem that our product would solve is simply not a big enough problem to make a healthy profit off of our product.

Page 25: Get me there

Get Me There – Conclusion

• Estimated market size $40,000, development of the product is more than estimated amount.

Page 26: Get me there

Get Me There – Pivot

• We are going to pivot our original idea and add partnership with smartphone manufactures to increase Market Size.

– Replace default alarm clock with Get Me There

Page 27: Get me there

Get Me There

To see more details and updates on development

http://getmethereapp.wordpress.com/