What did we learn? It wasn’t easy going through so many pivots. Indeed especially at the beginning we had a tough time. But through the support of our mentors, our classmates and our teaching team,and the patiences of countless prospective customers, and the relentless motivation and drive of the team itself we were able to come out with better driven, and more focused ideas. Indeed as you look through the presentation – one of the key insights, that as a team, we are very much a reflection of the collaborative environment we are in, which enables us to pivot. If we were walled up and hunkered down in an office space, without support – it would be like a rock between a hard place. But we are in an ocean, like water, and with that we were empowered to pursue a focus, customer driven, inspiring, and enriching business – NUDGE. Here is our story!
For our MVP, we decided to go ahead and nudge the people that we had some idea about. After the launch, we had some great feedback from the early adopters. They signed up for the beta version of the product and wanted to be nudged. This gave us fillip to try and find out what the response rate would be for nudges. We were pleasantly surprised by the number of people who responded affirmatively to our nudges and were very very encouraging. For our MVP, we are thrilled to have reach and we will be going forward with the execution of this idea after this quarter!
The last week was spent in no less a state of commitment to action than the previous weeks. We built and launched the site with the video of a nudge and we allowed people to feel our value proposition out. After that, we blasted the beta site out and had more than 40 e-mail signups. These sign-ups were at an astonishing 42% rate (People who left their ID versus people who actually visited the site). They spent a lot of time on the site on average trying out different nudges (to a tune of 2 and a half minutes each). After realizing that we had reached a diverse enough populace with our blasts, we decided to reach out to the people who wanted to be nudged. We gave them tailored nudges based on our understanding of what the user is like and we had a good supra 40% affirmative response rate.
We also sweetened the deal with a hot air balloon trip also up for grabs for a luck nudgee
This week was a lot about putting our hypotheses into the field and talking to partners who would be critical to our success. On one side of the nudge platform would be the users with their unique perspectives and interests. On the other side are events and activities. These activities are what the users will be channeled into going to. The partner conversations were very encouraging.
Amazon had a well fleshed out affiliate program which was open for lead generators and startups offering unique insights to come and join. The shared their revenue based on the amount of revenue generated per session per lead and was a very lucrative model for us to follow.
eBay had a very interesting problem because they were not pro-active in reaching out to create an affiliate network, consequently they were more open to discussions and negotiations than other vendors. They were also very interested in setting up a partnership
With event sites like meetup, fandango and eventbrite, they had their APIs publicly available and were open for anyone to consume however they did provide very interesting insights on consumer targeting – meetup actually sponsors meetups of special interests and eventbrite is only looking at geography as their main event spotlight. Both of these partners were willing and open to let us use their platforms and guide people there.
With a round of very insightful interviews concluded, we look forward to what the future will bring to nudge
Last week in class we were told to focus our energy on developing a larger use case, which the teaching team felt the idea lent credence to. We expanded the use case to include activities. This is not restricted to travel anymore. Activities include events, journeys or any thing that you would want “to do”.
The brilliant aspect of Social Media is that a lot of what you do is available for public consumption. This helps us analyze what you do. This also helps us see the activities that you have taken part of before. We can track the events that you have attended, the interest groups that you have joined, the things that you like (In the Facebook context, quite literally “Like”)
So we will tap into your social graph and let you know of activities that we think you should know about. We wont blast you over e-mail, we wont call you, we wont be an annoying little banner ad. We wont put Organizational Behavior 101 into play and ask you to attend an event just because 5 people from your friendlist are going. We will tailor them to you, we will let you make the choice. We believe that you are an important individual with your own likes and dislikes. We want to nudge you forward in life.