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Transcript of RunMyErrand/TaskRabbit Presentation
Tim Schickling Introduction Business Model SWOT Strengths Weaknesses Opportunities Threats Fills a need in the community
Leverages existing social networking platforms
The marketplace concept requires little administrative infrastructure
Strong advisory board
Concept is easily copied
Difficulty controlling reliability and quality of runners
Low revenue per transaction is an impediment to growth
New social networking platforms to promote business
Boston has a large population of professionalls and college students.
Could extend to other cities either directly or through franchising Many competitors:
My Errands Service
Whaddya Need Errand Service
Lack of market demand
Getting sustainable financial backing
Seasonality (more desirable service in Winter)
Situational Analysis Goals “There is never enough time in the day to get it all done”
Runners and senders
Founded in September 2008
RunMyErrand becomes TaskRabbit
•Senders post errands, runners complete them
•RME takes 12-30% per errand
oCommitted to sustainability
Business is a website
Two Twitter accounts
-Stream for runners
Increase # of Tasks per day
Increase # of senders
Attract funds for expansion
Expanding to other markets Other Recommendations Compete on Cost:
undercut the cost of other online convenance and delivery services
Intrige customers with this hybrid of online shopping
Many innovations surrounding the integration of geo-targeting and social media.
Prides itself on creating and fostering community
Begin a sponsorship and/or partnership with a local non-profit organization
offer to sponsor runners for time volunteered
Spring cleaning season - increased demand for tasks.
Promote the fact that runners don't just run, but also clean, carry, and organize.
When the weather warms, the population celebrates.
TaskRabbit should seize this opportunity and play off the seasonal levity.
The company can make use of the runner community as a guerrilla marketing force.
Encourage runners to complete informal tasks designated as "Rabbit Ready" dressed as rabbits.
Motivate the runner community by reducing the company's share of earnings on tasks completed in costume.
The exceptional ensembles may even be entertaining enough to use as content on Twitter and Facebook.
An influx of Rabbit people walking the streets is not normal, people will start to talk on and offline.
Stoke the fire, offer users free task credits if they locate a rabbit (the actual animal, a crafted or drawn representation, or a costumed runner) in Boston, take a picture with it/them, and submit it online.
The Boston Marathon full-on mascot style rabbit suit.
company logo, twitter handle, and a custom hashtag.
-photos, videos, and stories get tagged, shared, reposted, and retweeted
Evaluation A consistent voice and personality on all social media platforms
Create buzz to get the public curious enough to test out TaskRabbit
Identify high profile bloggers and other online influencers
Social Media Recommendations Amount of traffic driven site
Analyze social media conversation and interaction
Track amount of senders and runners Questions - Comments Use social media to strengthen brand
Take company offline and into the physical community
Drive traffic to site
Objectives this is a text box