every crave presentation
TRANSCRIPT
Visit www.everycrave.me Available via Web, Facebook app, Windows 8
and Android. Currently on 5th release EveryCrave Webteck Pvt. Ltd. – Founded
October 2010. Incorporated in March 2012 Based out of Bangalore, India Nearly 100 registered businesses in Bangalore
catering to over 600 needs across 5 sectors – F&B, Clothing, Consumer Products, Consumer Services and Lifestyle related
Powered by Top Brands
and many more…
Our Mantra – ‘Why do we exist?’
To help online consumers get what they need by pressing a button.
Status of the Online Consumer
<1% of Indian retail consumers currently shop online Why?* Lack of awareness at time of purchase Lack of authenticity, Delayed/Failed deliveries + Credit Card
issues Lack of incentives for users to shop online(besides Price.)
Wants to buy online! 3Cs -Convenience, Choice and Cost primary drivers
Current choices –Online marketplaces and stores, Deal sites etc, Niche ecommerce portals, generally preceded by Google!-Source: ‘UberIndia’ market survey with over 15000 internet users in Bangalore
Current online approach of Brands
Business Digital
Presence
Blog/email Newsletter
Social Profile
Deal site
Website
Online Store/marketpl
ace
=
Static Information
Commerce
Deals and Offers
Community& Conversations
Content “A consumer needs all this information at one stop to make an informed purchase!”
Solution
Happy User = “Get em’ MADE and PAID !”
THE ‘AHA’ experience! – Press a button and get what you want!
Step 1‘Crave it’ – Enter
your needs/wants via Web or Mobile
Step 2Receive and avail a
RELEVANT and PERSONALIZED offer
Step 3Refer offers to other
users and earn rewards and Cash!
3 STEPS TO A HAPPY USER @ EveryCrave
Underlying Magic
‘Crave- assist’ – Users can assist other users by referring offers to them.
‘Crave-suggest’ – Users can suggest craves to relevant businesses.
‘Power Profile’ – Online profile where users share content and get paid through affiliate program
‘EC Kiosk for Business’ – Customized Storefront where brands can connect and sell to online consumers.
Benefits for Users Smarter Purchasing Decisions Save costs. Earn money.
DEMO
Video - Watch the Demo of our latest release for Windows 8 at
http://www.youtube.com/watch?v=zdQNJE8HpMs
Visit www.everycrave.me
TRACTION
Key Businesses metrics:
•1. Nearly 100 businesses addressing over 300 common needs/craves in Bangalore already, including some global brands like Golds Gym, Sony, Baskin Robbins, Health and Glow etc. and numerous small businesses.• Over 20% businesses migrating to Premium Kiosks, with 5% deeper engagements(upto 10000$ per engagement). Pipeline created for 2 new paying customers each week.•3. Sectors spanning Food & Beverage, Clothing, Products, Services and Lifestyle related businesses.
Key User metrics:
•Over 1000 registered users in Bangalore. Over 600 active consumers and nearly 15000 more have asked for invites. Rolled them out over the new year - Part of the NEW YEAR REVOLUTION campaign.• Customers across Facebook app, Windows 8 app and android(just released) clocking user growth rate of over 80% week on week.•Web stats - Avg time per visit=8 mins, Pages/visit=7 and over 45%returning visitors
Market Overview
Market Analysis
•Retail In India • $470 Bn in 2011 and is expected to grow to $675 Bn by 2016 and $850 Bn by 2020 - Source Wikipedia
• Online Retail • Accounts for <1% Total Retail in India. • India set to grow fastest with APAC region at a CAGR of over 57% between 2012-16. •India e-tailing market in 2011 was about $600 Mn and expected to touch $9 Bn by 2016 and $70 Bn by 2020 – estimated CAGR of 61%. – Source: Forrester •By 2014, India is expected to exceed the US in terms of Internet population.
Market Trends
•Personalized Offers- 80% of shoppers in India said they want to receive personalized offers and recommendations through digital channels. - Capgemini •Huge eCommerce ready market•10 million internet users who actually buy online in India, there are about 150 million internet users or around 75 million households that are 'ready' for ecommerce. Source: IBNLIVE
•Almost everyone intends to shop online•In average, not even 1 out of every 10 respondents said that they do not intend to make online purchases. – Source: Trak.in
Revenue Model
Currently – SaaS fee from Business for EveryCrave Kiosk. (Deeper engagements for customization)
Branding and Transaction charges
DE-RISK – ‘Protecting the Downside’
Customer Acquisition Costs
• Industry Avg: Rs 500-1500 per customer
• Lower costs by increased virality by giving incentives for users to sign up
• others(100% referral commission for charter membership)
• Direct marketing in colleges underway. Very warm response.
• EveryCrave app also built on Facebook. Windows 8 Phone app launching soon.
• Reduces customer acquisition costs significantly
High Churn, Low Loyalty
• Charter memberships – First step profitability per user approach.
• Average visitor spends 8 mins on the site per visit, and visits 10 pages.
• Increased engagement->Increased purchases
• Increased loyalty by endorsing offers and profile.
• Digital Marketing relationships through Blog, Mailing lists and offline
• connects excluding Facebook, and twitter promotions
High Inventory, Poor Supply chain
• Presently most sites are horizontal, serves everyone, inventory based. No engagement with customer, to repeat.
• EveryCrave is also a Horizontal site based on made to order/just in time purchasing instead of made to stock/buy to stock models
• EveryCrave is focused on building targeted relationships with customers using technology which ensure repeat purchase.
Competition and Distancing• www.flipkart.com, www.snapdeal.com,
www.groupon.com, www.jabong.com• Multiple deals and increased consumer engagement,
relevance and informed purchasing over ‘get lucky’ approach
• Community intelligence into buying process• Ability to refer offer and earn cash.
Deal sites and
marketplaces
• www.justdial.com, www.sulekha.com• Higher engagement and micro-level relevance.
Also commerce centric with offers letting users directly purchase, over just connect with providers.
Online classifieds
• Consumer Centric as opposed to Seller Centric• www.refer.ly and www.instamojo.com• EveryCrave Power Profile where users can share
content like they share on Facebook on Twitter, and also get paid for their content and contribution.
Referral sites
Team
JagatChief Sadhaka/ Hustler
SaiCo- hacker/ CommunituManager
ChandniDesigner/Ops
Akash Co- hacker
