Ajay  Narasimmamoorthy    weddingknot.com  

 PROBLEM  

Ø  Indian  wedding  à  Bigger,  be4er,  more  lucra:ve    Ø  Less  :me,  more  planning  

Ø  Call  for  efficient,  less  :me  consuming  planning  

 SOLUTION  

Ø  Social  plaForm  to  aid  with  wedding  planning  and  prepara:ons    Ø  Medium  for  users  to  communicate  with  vendors    

Ø  One  stop  shop  for  all  wedding  resources  with  minimal  effort  

 CUSTOMERS  

 WHERE  DO  YOU  FIND  THEM?  

Ø  UHH..  PRETTY  MUCH  EVERYWHERE!!  

Ø  People  who  are  about  to  be  married    Ø  Friends  helping  out  with  wedding  planning  

Ø  Parents  of  bride  /  groom  

 CUSTOMER  INTERVIEW  QUESTIONS  

Ø  What  kind  of  services  do  you  find  most  challenging  during  a  wedding  /  wedding  planning?    Bartending  (3)    Floral  /  Stage  DecoraFons  (10)  

 Catering  (8)    Photographers  (12)  

 

Ø  Would  you  go  out  and  go  look  for  event  planners  or  for  services  like  floral  decorators?  Photographers?  Bartenders?  Or  prefer  service  offered  to  you?    Services  offered  to  me  (12)  

 Go  out  and  enquire  for  some  services  (8)    A  bit  of  both  (13)  

 

Ø  Would  you  be  willing  to  pay  for  services  /  planning  ?    Yes  (8)  

 No  (12)    Depends  on  the  cost  (13)  

 

Ø  Are  you  using  a  wedding  planner?    Yes  (21)  

 No  (12)    

Ø  What  do  you  dislike  in  a  wedding  planning  ?  

 Trying  to  get  the  best  in  everything  (12)    Going  to  reach  out  to  lot  of  people  and  no  response  (12)  

 Trying  to  find  something  within  budget  (23)  

 

Catering  Photographers  Stage  DecoraFons  Bartending  

Services  offered  to  me  

Go  out  &  enquire  

bit  of  both  

Yes  

No  

Depends  on  cost  

Yes  

No  

Try  to  get  best  in  everything  

Reach  out  to  vendors  and  no  response  Trying  to  fit  in  budget  

MARKET  SIZING  

• No.  of  Indian  marriages  in  a  year:  10  million    • Indian  wedding  market  worth:  $16  billion  • Gold  and  diamond  jewelry  market  worth:  $9  billion  • Apparel  market  (wedding)  worth:  $1.5  billion  • DesFnaFon  wedding  favorites:  Goa,  Jaipur  and  Udaipur  • Average  DesFnaFon  wedding  cost:  $300,000  • Wedding   cost   in   metropolitan   ciFes:   Between   $35,000   -­‐  $115,000  

 USER  STORIES  

•  User  sign  up  /  Login  page  

•  Profile  /  Account  crea:on  

•  Filter  op:ons  

•  Blog,  User  stories,  Experience  

•  Reviews  /  Ra:ng  

•  Inquiry  /  Email  op:on  

•  Chat  op:on  

•  Photo  upload  

•  Recommenda:on  system  

•  Friend  Request  op:on  

•  Adver:sing  for  vendors  /  Claiming  business  

COMPETITIVE  ANALYSIS  

Vendor  Sizing   Shopping   Visitors     D  

WEDMEGOOD   20,000   X   200,000   free  

PLANNING  WALE   6500   X   500   free  

INDEAR   4500   300   freemium  

S W

T

Strengths •   Wedding  planning  on  the  go.  •   Early  breakthrough  market  •   Different  vendor  opFons  to  compare.  •   Social  pla[orm  to  interact  directly  with        vendors  without  the  necessity  to  meet  in        person.  •   Target  audience  –  Global  market  since        wedding  is  Universal  

Opportunities •   Ability  to  expand  user  base  and        vendor  list.  •   Opportunity  to  conquer  global  market  •   Scope  to  partner  with  Pinterest,          Instagram  •   Less  compeFFon  means  more  scope          to  grow  and  expand  faster.    

Threats •   CompeFtors’  edge  •   Easy  compeFFon  •   Bigger  threat  if  vendor  lisFngs  are          limited.  O

Weaknesses •   Easy  compeFFon      •   Sustainability  of  user  base  •   Ability  of  tradiFonal  users  to  adapt  •   Uncertainty  over  subscripFon  based            model    

SWOT  ANALYSIS  

Cost  Structure  •  MarkeFng  •  Web  service  fee  •  Infrastructure  development  •  MarkeFng  •  Customer  acquisiFon  

Revenue  Streams  •  SubscripFon  fee  •  Vendor  commission  fee  •  Vendor  Ad  sales  

Problem  •  People  have  to  waste  Fme  in  travel  or  finding  contacts  to  make  reservaFon  or  booking  

•  Don’t  have  a  direct  point  of  contact  or  reliable  resource  to  make  reservaFon  or  booking  

•  Cannot  reach  to  people  someFmes  or  have  to  wait  to  make  a  booking.  

Solu:on  •  A  social  pla[orm  that  helps  the  wedding  planning  and  preparaFons  easy  by  having  a  medium  between  the  ones  gecng  married  and  the  service  providers.  

•  One  stop  shop  with  minimal  effort  

Key  Metrics  •  SALES:  Annual  sales,  Annual  margin,  Conversion  rate,  CompeFFve  pricing  

•  MARKETING:  Unique  visitors,  Quality  of  product  reviews,  Subscribers,  Facebook,  twieer,  pinterest  fans.  

Unique  Value  Proposi:on  •  Direct  interacFon  between  customers  and  service  providers  

•  Ability  to  view  their  works  and  por[olio  and  directly  hear  reviews  through  first  hand  connecFons  

Unfair  Advantage  •  One  consolidated  place  containing  all  wedding  resources    

Channels  •  MarkeFng  through  facebook  and  other  social  pal[orms.  

•  Friends  and  contacts  •  Posters,  Online  adverFsements  

Customer  Segments  •  Couples  who  are  gecng  married  

•  Friends  /  Parents  of  couples  who  are  gecng  married  

PRODUCT MARKET

 LEAN  CANVAS  MODEL  

User  Persona  -­‐  1    Profile        Chand    Gender        Male  Age            29  OccupaFon          Consultant  at  Deloiee        

Character  Intelligent,  enthusiasFc,  bold,  persevering,  achiever.    DescripFon  Chand  is  a  29  year  old  consultant  based  out  of  Bangalore,  India.  Chand  is  a  workaholic  who  has  60  –  70  work  hours  every  week.    And  Chand  is  hardly  at  home  over  the  weekends  spending  Fme  going  on  adventures,  partying   hard   or   working   on   his   start   up   ideas.   Chand   recently   got  engaged  to  his  girlfriend  and  he  has  his  wedding  coming  up  in  the  next  six  months.  Chand  wants  to  have  a  big  fat  Indian  wedding  which  he  has  always  dreamt  of.  Unfortunately  Chand  has  to  plan  his  wedding  for  the  most  part  since  his  girlfriend   is  out  on  a  business  trip  to  London  for  3  months.      Goals  Chand  wants  to:  §  view  the  vendors’  por[olios,  read  reviews  about  the  vendors,  and  get  in  touch  with  minimal  work.    

§  interact  with  other  people  who  has  gone  through  the  same  vendors  and  hear  about  their  work  first  hand.  

§  be  able  to  view  the  photos  and  read  blogs  about  the  wedding  stories  §  save  the  preferred  wedding  décor  ideas,      FrustraFon  •  Unable  to  pick  the  best  ones  that  would  fall  under  his  budget.  •  Not  able  to  get  hold  of  vendors  as  they  don’t  return  calls  or  respond  to  emails.  

•  Unable  to  find  more  vendor  opFons  to  choose  from  in  his  city      

User  Persona  -­‐  2    Profile        Shruthi  Gender        Female  Age            27  OccupaFon          Sokware  Engineer        

Character    Social,  Always  on  the  mobile,  AcFve  and  EnergeFc    DescripFon  Shruthi   is  a  27  year  old   sokware  professional  based  out  of  California.  Shruthi  is  engaged  to  her  long  Fme  boy  friend  and  has  her  wedding  in    4   months.   Shruthi   has   an   acFve   lifestyle   maintaining   her   work   life  balance   and   only   gets   Fme   during   the   weekends   to   plan   for   her  wedding.  Since  her  wedding   is   in   India,  Shruthi’s  accessibility  to  reach  out   to   vendors   in   India   can   only   be   done   through   email   /   phone  interacFon.   Since   Shruthi   is   acFve   on   social   mediums   like   Facebook,  Twieer,  Pinterest,  she  has  all  the  right  ideas  in  mind  that  she  wants  for  her   wedding   and   has   gathered   informaFon   about   all   the   ideas   but  doesn’t  have  or  know  the  right  resources  to  contact  or  talk  to  in  order  to  implement  her  ideas  at  her  wedding.      Goals  Shruthi  wants  to:  §  Get  in  touch  with  various  vendors  to  talk  about  her  wedding  ideas.  §  Be  able  to  shortlist  the  vendors  and  pick  the  best  one  that  she  thinks  could  be  the  best  opFon  to  implement  her  wedding  ideas.  

§  Check   out   por[olios   of   vendors,   look   at   different   wedding   photos,  save  others’  wedding  décor  ideas,  bridal  wear  selecFon,  etc.  

   FrustraFon  •  Unable  to  pick  the  best  ones  that  would  fall  under  his  budget.  •  Not  able  to  get  hold  of  vendors  as  they  don’t  return  calls  or  respond  to  emails.  

•  Unable  to  find  more  vendor  opFons  to  choose  from  in  his  city      

METRICS  

•  Average  monthly,  quarterly  and  yearly  sales  •  Conversion  rate  •  New  customer  order  sales  vs  Returning  customer  order  sales  •  CompeFFve  pricing  

•  Unique  visitors  vs  Returning  visitors  •  Page  views  per  visit  •  Facebook  /  Twieer  followers  and  fans  •  Number  and  quality  of  reviews  •  Brand  or  display  adverFsing  intake  rates  

Sales  KPIs  

MarkeFng  KPIs  

METRICS  

•  Number  of  potenFal  customers  and  vendors  who  visit  the  site  •  Number  of  users  who  download  the  app      •  Vendor  inquiry  to  enroll  and  subscribe  to  the  app  •  Successful  user  sign  up  by  giving  facebook  /  google  credenFals      •  App  users  who  refer  the  app  to  other  friends  who  could  be  potenFal  customers  •  Average  purchases  through  referral  from  vendors  who  use  the  app  

•  Repeat  visitor  trying  to  help  a  friend  /  family  member  

•  User  subscripFon  fee  •  Vendor  adverFsement,  commission  fee  per  purchase  

AcquisiFon  

AcFvaFon  

Referral  

RetenFon  

Revenue  

 PRICING  –    ASSUMPTIONS  &  CALCULATIONS  

Dev/  QA     2   $12,000  /  yr   $24,000  

UX/UI   1   $10,000  /yr   $10,000  

MarkeFng   2   $10,000  /yr   $20,000  

Sales   1   $10,000  /yr   $10,000  

Data  Analyst   1   $12,000  /yr   $12,000  

IT   1   $8,000  /yr   $8,000  

Ops   1   $10,000  yr   $10,000  

•  Sojware  Licensing  -­‐  $2000  per  month  -­‐  $24,000  /yr  •  Cleaning/  Janitor  charges  -­‐  $10,000  /yr  •  Electricity  -­‐  $500  per  month  -­‐  $6,000  /yr  

 SAMPLE  CALCULATIONS  

•  10  million  marriages  every  year    •  2%  user  downloads  the  app  à  200,000  users  •  20%  of  paid  users  à  40,000  paid  users  •  $10.99  premium  fee  *  40,000  users  à  $439,600    •  10,000  vendors  in  1st  year    •  10%  of  vendors  get  orders  thro’  app  à1000  vendors  •  5%  commission  on  each  vendor  order  *1000  vendors  à  $50,000  

 Year   1   2   3   4   5                          Total  Revenue  through  User  SubscripFon   $200,000.00   $550,000.00   $990,000.00   $1,760,000.00   $2,750,000.00  Total  Revenue  through  Vendor  commission  fee   $50,000.00   $112,500.00   $187,500.00   $225,000.00   $350,000.00  Total  Revenue   $250,000.00    $662,500     $1,177,500.00   $1,985,000.00   $3,100,000.00                          

TYPE  OF  COST   EXPENSES                      fixed   Salaries    $94,000      $150,000      $250,000      $350,000      $450,000    fixed   Benefits    $50,000      $100,000      $150,000      $200,000      $300,000    fixed   MarkeFng    $20,000      $100,000      $150,000      $200,000      $300,000    fixed   Development/QA    $20,000      $60,000      $100,000      $150,000      $250,000    variable   Office  Misc  Expenses  (  Beverages,  Food,  Office  ParFes,  etc.)    $5,000      $10,000      $20,000      $40,000      $60,000    fixed   Office  Infrastructure  /  Set  up  -­‐  Furniture,  Interior,  etc    $5,000      $10,000      $20,000      $30,000      $50,000    fixed   Domain  hosFng      $100      $100      $200      $300      $400    variable   Sokware  license  fee    $12,000      $24,000      $40,000      $50,000      $70,000    fixed   Server/  Storage  service  fee    $200      $400      $600      $800      $1,000    variable   Office  Space  Rent    $12,000      $24,000      $40,000      $40,000      $50,000    variable   Computer  /  Laptop  Devices    $20,000      $40,000.00     $60,000.00    $70,000.00      $90,000.00    fixed   Admin  /  IT    $5,000      $10,000      $10,000      $15,000      $30,000    variable   Electricity  /  UFlity      $6,000      $12,000      $15,000      $20,000      $30,000    

   T&E    $12,000      $20,000      $30,000      $50,000      $70,000    

SUBTOTAL    $261,300      $560,500      $885,800      $1,216,100      $1,751,400        Profit     -­‐$11,300.00    $102,000     $291,700.00   $768,900.00   $1,348,600.00  

 Five  year  projecFons  –  Worst  Case  Scenario  

YEAR   1   2   3   4   5  USER  DOWNLOADS  IN  %   1%  (100,000)   2%(200,000)   3%(300,000)   4%(400,000)   5%(500,000)  

 Five  year  projecFons  –  Best  Case  Scenario  

    1   2   3   4   5  Total  Revenue  through  User  SubscripFon   $2,000,000.00   $13,200,000.00   $30,800,000.00   $38,500,000.00   $53,900,000.00  Total  Revenue  through  Vendor  commission  fee   $50,000.00   $112,500.00   $187,500.00   $225,000.00   $350,000.00  Revenue   $2,050,000.00    $13,312,500     $30,987,500.00   $38,725,000.00   $54,250,000.00                          

                       TYPE  OF  COST   EXPENSES                      fixed   Salaries    $94,000      $150,000      $250,000      $350,000      $450,000    fixed   Benefits    $50,000      $100,000      $150,000      $200,000      $300,000    fixed   MarkeFng    $20,000      $100,000      $150,000      $200,000      $300,000    fixed   Development/QA    $20,000      $60,000      $100,000      $150,000      $250,000    

variable   Office  Misc  Expenses  (  Beverages,  Food,  Office  ParFes,  etc.)    $5,000      $10,000      $20,000      $40,000      $60,000    fixed   Office  Infrastructure  /  Set  up  -­‐  Furniture,  Interior,  etc    $5,000      $10,000      $20,000      $30,000      $50,000    fixed   Domain  hosFng      $100      $100      $200      $300      $400    variable   Sokware  license  fee    $12,000      $24,000      $40,000      $50,000      $70,000    fixed   Server/  Storage  service  fee    $200      $400      $600      $800      $1,000    variable   Office  Space  Rent    $12,000      $24,000      $40,000      $40,000      $50,000    variable   Computer  /  Laptop  Devices    $20,000      $40,000.00     $60,000.00    $70,000.00      $90,000.00    fixed   Admin  /  IT    $5,000      $10,000      $10,000      $15,000      $30,000    variable   Electricity  /  UFlity      $6,000      $12,000      $15,000      $20,000      $30,000    

   T&E    $12,000      $20,000      $30,000      $50,000      $70,000    

SUBTOTAL    $261,300      $560,500      $885,800      $1,216,100      $1,751,400        Profit     $1,788,700.00    $12,752,000     $30,101,700.00   $37,508,900.00   $52,498,600.00  

YEAR   1   2   3   4   5  USER  DOWNLOADS  IN  %   5%  (500,000)   20%(2,000,000)   40%(4,000,000)   50%(5,000,000)   70%(7,000,000)  

 BEST  CASE  VS  WORST  CASE  

-­‐$500,000.00  

$0.00  

$500,000.00  

$1,000,000.00  

$1,500,000.00  

$2,000,000.00  

$2,500,000.00  

$3,000,000.00  

$3,500,000.00  

1   2   3   4   5  

Dollars  

Year  

WORST  CASE    

Profit  

Revenue  

$0.00  

$10,000,000.00  

$20,000,000.00  

$30,000,000.00  

$40,000,000.00  

$50,000,000.00  

$60,000,000.00  

1   2   3   4   5  

Dollars    

Year  

BEST  CASE  

Profit  

Revenue  

1st  Quarter   2nd  Quarter   3rd  Quarter   4th  Quarter  

•  Customer Support •  Blog share

•  Chat messenger

•  Filter options

•  Search vendors.

•  Recommendation system

•  Advertising for Vendors / campaigns

•  Adding Friends

Data Science/analytics.

•  Mobile App

•  Photo upload.

•  Basic Account set up.

•  User sign up page

•  Reviews / Rating

•  Vendor Portal •  Vendor Inventory •  Payments

•  Basic Screen Wireframing

•  Hosting •  Security

•  Improve UX •  Increase sales •  Expand

platforms •  Improve UX

 ROADMAP  

 ROADMAP  

1st  Quarter   2nd  Quarter   3rd  Quarter   4th  Quarter  

Dev  /  QA  /  UX   Wireframing   Review/  Ra:ng  

Ops  

Marke:n

g  R  &  D  

Improve  UX  

•  Hosting •  Data Center Increase  the  performace  of  nodes  

 

•  Advertising Campaigns

•  Market Research

•  SECURITY •  DATA

ANALYSIS

•  MARKET RESEARCH •  DATA ANALYTICS

•  Vendor Advertising •  Vendor Campaigns

Vendor  /  User  sign  up  

Chat  messenger  

Customer  support  

Mobile  app   Feature  Improvements  Eg.  Blog  posts  

Recommenda:on  system  

•  Improve  Ads  •  Increase  SALES  

THANKS!

Any  ques:ons?