learnings from week 3

GiftlessThe easier way to find personal and meaningful gifts

Paul HayesAdam Neumann

We had our business model challenged by David Whiteman

(Director of Marketing for Getprice)

Consumer will be messy, expensive and

difficult - B2B will be far easier (we’ll even be a case study for you - juicy

150,000+ list)Paul Adam

Andrew Birt to the rescue

• Start with a consumer play but be open to the idea of a B2B model longterm.

• Starting with consumers will make it easier to sell to enterprises later

• Still try and use GetPrice’s offer of being the case study

Equity splits, vesting, accounting & legals

• Use Zero cloud accounting

• have a plain english memorandum of understanding

• agree to everything BEFORE going to a lawyer

• Have debt agreements

• Know that everything can and will change when you get investment

Learn from your Competitors

Look for common themes

LOOK FOR COMMON THEMES

Match to blog demographics

How to find your demographic through Facebook advertising

Step 1) Create a demographic neutral facebook advertising

campaign focused on the problem you are trying to solve.

Step 2) Measure the demographics from the CTR

6 top level goals for demo day

1) Know our COCA & LTVC & AARRR metrics2) 100 gift recommendations purchased - any means possible3) Have an advisory board - committed (People before money)4) Vocal # of evangelists (5 evangelists)5) Have a plan for X months to the future (Our iceberg slide)6) Be able to demonstrate traction in a specific vertical

Actionable actions for the next few weeks

1) Run a $50 FB campaign, know CTR & signup percentage2) Setup the affiliate links for Amazon & Red Balloon3) Identify 5 possible advisory round candidates4) Recruit 1 evangelist5) Write a 3 page marketing plan6) Identify our demographic

Users that signup with Facebook

First Time Visits

+10 visits in 90 days

+3 visits in 90 days

Made at least one visit from this channel

prior to conversion

Last touch before conversion

x users

x users

x users

x users

x users

x users

SEO SEMSocialReferralDirect

Acquisition - # users that visits site (track growth over time)# users that don’t abandon

Activation - Signs up with facebookHappy first visit - Stays on site for more than 90 seconds - clicks through to the details lightbox of at least one gift

Retention - Repeat visitor - 3+ visits in 90 days

Referral - Refers 1+ users  who visit the siteRefers 1+ users who activate Measure Facebook share, likes, tweets, pins, pluses

Revenue - Users who generate minimum level of revenueUsers who generate break even level of revenuetrack value of 1 user (Paid advertising Google adWords & Facebook advertising)

Get your app out there

User testing at this stage is extremely important.

Doesn’t matter if it’s buggy, slow, doesn’t look great or is missing vital features.

Some people won’t use the app solely because of it currently requires FB login.

Already people are asking for reminders that happen 3-4 weeks before important events.

gift recommendation engineA huge wall to climb

Userbility Testing

People didn’t realise you could drill down on the persons likes. We added an explore gifts button

Userbility Testing

The quick suggestions were adding more negative value than positive so we have hidden them.

People love being able to drill down by interest, they really like the budget filter and to be able to filter by categories, though it doesn’t work well enough just yet.

Most importantly, even at this early in the product development stage, we have received validation that people want to search for gifts based on peoples interests.

incorporating takes time

And you need to take the time to get it right first time

Vesting agreementsShareholder agreements

Expectations of each otherIP assignment

Taxation issues caused by vesting

PR with Sammartino

We now have over 20 different angles for PR. We used our learnings to score an interview with www.powerretail.com.au

GiftlessSocial Gift Recommendations

Paul HayesAdam Neumann