Delve: Week 6

Tymacia Atkins, Lynsey Ficker, Abigail Kreimer, Kevin Habib

Our Business Model

Value Proposition- Afford the customer experience, convenience, and local knowledge via packages of event and venue coupons and discounted tickets.

Revenue Model- Transactional makes sense because we are going to act as the intermediary between the customers and the experiences provided on our site. For example, a customer paid a restaurant or winery in Cincinnati $80 for a 2hr wine tasting; we provided the website where the customer was easily able to find that experience and book it, and because of that, we will take a percentage of that profit. It does not even have to be another business. Let’s say there is a person that does photography and photo shoots; they can use us as a tool for their exposure. They can offer a 1–2 hour photo shoot for let’s say $100. We take a percent of that and that’s how we make money. An important question that we considered but decided to not go through with: Do we charge people/businesses to be able to post their experience through us? Or, do we let them post the experience for free and only make money off of a percentage of their profits?

Cost Structure- paying for website development, paying employees for customer service/maintenance, HEAVILY invest in marketing in order to be known as the place to go to find an experience and/or provide an experience, design, office costs

Customer Acquisition- internet presence — -instagram is free! Spread the word via instagram, twitter, facebook, etc. Customers buying tickets will often go with another person or a group and share the deals with their family and friends.

Product Delivery- tickets purchased online and can be sent to email or digital wallet.