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Storanza - Business Model Storyteller
Transcript of Storanza - Business Model Storyteller
How is (s)he concerned?
Like/Dislike? -> Delight
Describe solution by explaining how does it solve Persona's issue
What feature will make Persona like your app ?
How your solution is helping Persona to reach is goal ?
Which company is proposing a solution solving the similar problem?
How are they solving it ?
What is aking with their solution ?
What brings delight in their solution ?
What is your persona's journey?
How your solution can help them in a unique way to overcome his/her concerns?
Describe how you are going to interact with your persona :
Resources & Skills
Describe what type of resource and skills you need in order to build the solution and interact with your persona
This is the base of your cost structure
What forces are shaping competition ?
Competition, Substitution Product
Resources & Skills, Barriers
Describe your unfair advantage
What makes you different?
What is your know-how?
What is the impact for the persona?
What is your market value potential?
Describe your market scope?
How many people can you reach with your acquisition channels?
Apply your pricing model?
What additional resources or skills would you need to capture the value of the identified market?
High volume production structure
What are the major trends that will influence your business?
What is the impact on the market forces previously analyzed?
Why are your doing this business?
What is your goal, your belief?
What is the context in which the need/problem occurs?
What is the problem?
What is the source of the problem?
What is the consequence
Knowing who is impacted by the problem enables us to find the solution fit
When you need to buy buy new furniture or decoration products it's difficult to find quality & exhaustive informations
Consequence : A lot of people buy their furniture without having enough informations available and could go by default in the wrong place (Ikea ;-)
Most independant retailers don't have time, technical skills and enough knowledge to manage their web presence and visibility.
Consequence : They spend sometimes a lot of budget in traditional media (print/tv/radio) and scare about internet. But they are often unsatisfied about their marketing expenses and the return on investment.
= 4,5 Million Household where 2,8% of household budget is spent in interior sector. Major part of this budget is for furniture (555 euros/year)
+ 500 K moving by year where 85% are buying new furniture
Search via friends, family recommendation and search on web.
Results = very few answers. In general people can give around 5 to 10 results by heard.
Product are not well known (thousands of brands) --> Frustration --> feeling of being screwed
= 9000 point of sales for Interior --> 3700 more concerned by furniture
When IKEA with 6 shops is making 17% of the market sales
Consummer are not repeating buyer, you have to touch the potential buyer at the right time. Buying process can be long and shop has to continuously follow or touch the prospect. Goal is to attract consumers into the shop at lower cost possible.
We are a web platform where we gather information about product and shops :
- Free Shop guide
- Catalog of products (Virtual showroom)
We are a web platform where qualified surfer come when they search for deco :
shops have a easy tool to manage their :
- shop visibility
- catalog (show their products info available in showroom)
- Promotions & outlet
Product catalog & blog
list of partnership only paying <> no guide of shop
Paying model base on number items <> to more content
UX and Design of 90ies - No fresh content
Truvo - Zone 09 - City Plug - Brussel life -etc
Mostly international - Platform more dedicated for professionals (Brands, retailers, architecte, hotels, etc) than for consumers. Then more BtoB than BtoC! A lot of products and inspiration but no easy link with real shop to help consumer to visit shops and buy easily
Architonic, decofinder, etc
Generalist - not qualified - No product information (or very few)- Pure shop visibility
Delight = Trafic but
is mostly what consumer search and they are missing it...
Storanza has to come up in mind of people asap they desire/need to find new piece of furniture.
Any surfer on storanza should find and discover product or shops in a efficient and inspirational way.
Shops are struggling with their day to day task and are not use to adopt new tools.
Shops believe in it, but it take a lot of time to convert them as user. Clients are always lazy and wait that you do the job for them
Storanza should be an easy and efficient tool for any shop user. They shoud start the day updating their promo / outlet / catalog online.
- Acquisition with marketing campaign ( Adwords - FB ads - Display)
- Natural via key words in search engine and blog articles (SEO strategy)
- Community : Facebook share - Contest with shops / Brands
- Other media : (Press release + Mkt expenses)
- Potential long term partnership with other Media
- Partnership with NAVEM (Association of furniture retailer)
- Mostly B to B approach (Contact + visits + training)
- A bit of natural acquisition
- Grothw hacking skills
- Commercial - Evangelist for the btob acquisition
- Seo / Sea skills to drive traffic
- Marketing skills to address right potential consumers - qualification and segmentation
- Communication skills for media and community management
- Technical skills to ensure the efficacy of the web app and to ensure continuous improvement
- Business skills for the definition and application of the right strategy/vision
Active customers doesn't have enough information, we can nearly say that "everybody" is "lost" and need more informations when he has to buy new furniture
Shops itself and some platform are supplying some infos
Competition is more coming from other media than from the web.
And substitution are :
- Physical shops well located could nearly avoid publicity
- Print / radio / TV
- Mouth to Mouth
Outlet market place for furniture from showroom furniture doesn't exist in Belgium and there is no major actor in Europe
We differentiate with a very strong relation between our original digital content and what is physically present around you.
Know how :
- about products and actors from the interiors sector
- about digital marketing and e-commerce
- about business development
The Market value potential of furniture sales / year in our target shop clients is around 1 to 1,5 Billions of euro
We are targeting a "%" of the "web" marketing expenses linked behind that amount of sales above
We could reach around a thousand shops for which there is a free + commission and/or monthly plan business model to use our premium features
Traffic acquisition - Seo/Sea could not be enough - Potential partnership to be analysed
Time needed from shop for a good adoption could delay scalability - More support and training skills has to be evaluated.
People / Resources
E-commerce is moving to omni-channel commerce :
ROPO is the actual big trends (research online - purchase offline)
People are moving more often and need new furniture more often
Separation and new cycle of housing (first apartment or house then second more bigger, etc) + demographics
Cocooning and interiors decoration is much more important today (refuge of crisis - reflect your identity - the home has to become a cocoon against the exterior "hard" world)
People are more and more connected everywhere
Digital marketing and internet is still perceived as a black box difficult to master for retailers - bad reputation - doesn't work good
Sector where the level of technology is low (Manufacturer and retailers):
A lot of innovation in design but method of production and distribution method doesn't evolve so much
Home interior and furniture buying is an emotional and important buying for many people in term of decision and budget
To solve some personal frustration
To fulfill the need to do a more meaningful day to day job and escape of repeating task from classical employee job.
Having a project where there is no limits of learnings and growth
The goal is to create a max of value to all stakeholders by being able to solve theirs needs and problems
Because of high interest in interiors design and products