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Transcript of Social Foodie
- Social media platform to link the word of food through every consumer segment
- An online community that connects the major stakeholders involved with food consumption
-Each individual is given a set of tools within the social media platform based on a 'Foodie Dashboard' We want to connect Everyday Consumers Restaurants Farmers Farmers Markets Local Grocers Our Mission:
Provide a social network for people and businesses to provide relevant information about themselves in order to: Discover delicious food in their community connect-to and understand their own friends and customers Improve their knowledge of what they eat and where it comes from feature and promote deals and food events enable local businesses to develop and expand their means to market Caterers Food Bloggers How will we do this? Two Ways Providing user relevant information food likes and dilikes
weight watching diets
sacred and religious diets
gluten free diets
ethnic food interests
the tastes they cater-to
awards and writeups
featured (local) suppliers
farming and production practies
utilize organic or sustainable production
where and when their products can be found
variety of products they produce
their connection with other farmers
what restaurants and ktichen feature their products location
specialty food products
if they cater to specific demographics what they blog about
if they feature recipes, events, etc.
what demographics they cater to
their particular location Market Size
Enter the US and Canadian market for food social media networks
Total food industry spending on advertising was $5.8 billion dollars in 2010
$2.1 billion dollars of that was focused either directly or indirectly on internet based advertising
$400 million was also spend by the food industry through mobile devices
We can assume roughly a $2.5 billion dollar market size for Social Foodie Possibilites for the users:
Find recipes tailored towards their interests and requirements
customized shopping lists
directions to local grocers, farmers markets, and restuarants
quick and easy connection to local caterers
information about local vendors carrying artisan goods
able to connect with friends and view likes and dislikes and favorite recipes
favorite local grocers and farmers markets
view restaurants they they have been to and their favorite menu itmers
organize dinner parties complete with customized shopping lists
suggest their own favorite retaurants and local food spots to out of town friends
pre-pay for dinner parties at restaurants
create food interest groups where favorite food purveryors and recipes are shared Possibilities for users:
able to connect-to and better understand their customers
organize and advertisse special events to their partrons
reach out to customers in the area that match interests
promote restautant updates and menu changes
organize free deal and coupon campaigs that are posted to a "Foodie Dashboard'
on a b2b level, identify and deal with new local suppliers - To provide high quality information, Social Foodie is teaming up with LocalHarvest.com
- Local Harvest is the pemier information directory for small farms, farmers markets, and other local food sources
- It is the number one informational resource for the Buy Local Movement
- The site boats a detailed directory of more than 40,000 member businesses What they can do:
promote their products at their retail location
update and inform other members about new vendors
promote deals at farmers markets or grocers
update and inform members about new products
b2b, these users can directly connect with grocers, restaurants and other food suppliers to promote and market their food How we will generate revenue:
Display advertising: advertisements are displayed in featured spots based on their desired user segment, with geographic, demographic, and user preference targeting capabilities.
Mobile App display advertising: when a customer receives a recipe or shopping list to their app a user relevant advertisement will be displayed. User targeting can be tailored towards consumer segments with geographic, demographic, and user preference targeting capabilities.
Branded content ads: advertisements are generated by Social Foodie and feature pictures, recipes, and food related products that drive traffic to the desired website. These advertisements can be targeted towards specific consumer segments with geographic, demographic, and user preference targeting capabilities.
Deal featuring on non-relevant dashboards: members can pay to feature deals on non-relevant customers dashboards
Deal and event featuring to non-relevant groups: members can pay to feature deals, events, or price-fix menus to user groups that are non-relevant or mixed
Prepaid meals or catering events: members can create a friend group dinner party event and send this query to restaurants or caterers to fulfill. After these restaurants or caterers accept the event, members can pre-pay. A percentage is taken by Social Foodie from the restaurant or caterer for acting as the broker. Our Competition:
all provide an online platform that shares food as a common interest between parties
they all feature dashboards
search engine to search recipes
a means to like the content provided
a means to converse with other members of the social network
related content like event notification and food news
review or rating system
The major players are:
Group Recipes- centered around finding recipes
Open Source Food - picture based recipe network
FoodBuzz- focused around food bloggers
Epicurious- corporate sponsered (Bon Apeiti and Gourmet magazine)
Eats- social network providing recipe and dining information
TasteSpace- centeralized index of bar and restaurant content
attacking the information gap between all of our user segments, we are providing a social network for group collaboration and data consolidation
Our competitive factor is that we include all user groups from the farms to the consumers
promoting easy communiting and encorporating promotional tools on a c2c, b2b, and b2c level, each member can express their needs and wants exactly
our membership growth will have a snowball effect- the more users, the more effective the social network Marketing Plan:
Pay-per-click advertising: featuring Social Foodie on carefully selected sites to encourage the desired brand image and tailoring the banner ads to carefully display the correct message to our customers
Listing on a multitude of search engines: Social Foodie will enable its customers to search for relevant search terms that will link back to Social Foodie. Ensuring that Social Foodie is featured on the top 20 search engines will enable quick and simple access to customers in the exploration stage of the consumer life cycle
Listing on a multitude of directories: By featuring Social Foodie on relevant directories, users that have narrowed down their searches will be able to find our social platform on directories that cater towards Social Foodies features
Trading Links: Especially useful in the beginning of operations, Social Foodie will trade banner links with popular websites, social networks, blogs, and food websites. In turn, Social Foodie will feature that site. This is also a good means to attract new customers and develop relationships with other internet businesses
Especially important is linking to LocalHarvest and their affiliated websites. Because they have such a large user base (around 20,000 active members), it would be beneficial to source traffic from the huge amount of users that are members of their site. This will be done by trading featured articles, news, and information relevant to LocalHarvest’s members. This position also gives Social Foodie an excellent jumping off point by providing an almost instantaneous user base, highly detailed information about their farmers, farmers markets, and local producers of food around the country. When other members join and create Foodie Dashboards, this will negate the lag time prevalent in other social media sites during the first year of their operation.
SEO Optimization: Search engine optimization will be a key marketing strategy for Social Foodie. Using keywords and descriptions and embedding them into the website with Meta Tags, this will drive traffic to the site. Also, because search engines do not index pages past the first level (they usually link from the index page) I will develop my website with links to most of the key pages on the first page of the social platform. The more pages a search engine indexes from the website, the greater the chance the website will be discovered. We will also plan on creating a site map page with links to all of the pages to help search engines and visitors navigate through the site.
Founder- Chief Strategic Officer: Matthew Fili- Matthew Fili is a highly creative and innovative graduate from Bentley University. He recently received a BS in Finance from Bentley University and plans on leading the strategic development of Social Foodie
Chief Creative Officer: Kimmi Waldbilig- A recent graduate of the Elkin B. McCallum Graduate School of Business with a Masters of Business Administrations focusing on Entrepreneurship, Kimi will be leading the business development team and managing the marketing team at Social Foodie.
Chief Web Officer- Reggie Jean Brice- Reggie Jean Brice is a recent graduate of the Rochester Institute of Technology. He received a degree in both Computer Engineering and Computer Science. Reggie will be pivotal in using his technological skills in developing the platform for the social network.
Chief Sales & Marketing Officer- Cameron Tomkins Berg. Cameron Tomkins Berg recently graduated from the University of Wisconsin- Madison with a degree in Finance and Entrepreneurship. Cameron will be leading the sales and marketing team and be leading the brand development aspect of Social Foodie.
Initial Start-up costs:
2 Servers- $2,000
Office furniture- $5,000
5 laptops- $3,500
3 Data Enabled Phones- $1,200
Legal and Accounting Fees- $20,000
Web Design Fees- $5,000
Other Costs: ??
Total: Around $60,000 to get running in January 2012
Investment needed: 5 equity capital investments of 20,000 each Review and Recomendation Systems
Recipes, restaurants grocers, and caterers: algorithm under development by our cheif web officer that bases recipe reccomendations on user characteristics
there is no scale based rating and review system
food recomendations that are most accurate are from your friends
this is a good measure of our mission: ensuring personal, intimate, and memorable interations with the food we eat
grass green color palate
developing a logo that suggests community
use brand-suggestive words to describe menu items and buttoms (i.e. your friend network is called your 'neighborhood'
to promote a sense of local food and stronger community, we will carefully consider the brand image of the host site and layout of the banner advertisement (Kashi.com, wholefoods.com)
ensuring that Foodie information is delivered only for a users specific area Questions?