stanford venture lab - final presentation for ecobeautylab

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You’re different from everyone else

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Page 1: Stanford Venture Lab - Final Presentation for EcoBeautyLab

You’re different from everyone else

Page 2: Stanford Venture Lab - Final Presentation for EcoBeautyLab

So why buy the same thing in the same way that everyone else does?

Page 3: Stanford Venture Lab - Final Presentation for EcoBeautyLab

It is time to say

NO

Page 4: Stanford Venture Lab - Final Presentation for EcoBeautyLab

to toxic

Page 5: Stanford Venture Lab - Final Presentation for EcoBeautyLab

mass-produced

Page 6: Stanford Venture Lab - Final Presentation for EcoBeautyLab

one-size-fits-all

Page 7: Stanford Venture Lab - Final Presentation for EcoBeautyLab

products off-the-shelves

Page 8: Stanford Venture Lab - Final Presentation for EcoBeautyLab

products that harm

Page 9: Stanford Venture Lab - Final Presentation for EcoBeautyLab

our trees

Page 10: Stanford Venture Lab - Final Presentation for EcoBeautyLab

our animals

Page 11: Stanford Venture Lab - Final Presentation for EcoBeautyLab

and our households

Page 12: Stanford Venture Lab - Final Presentation for EcoBeautyLab

don’t be like this

Page 13: Stanford Venture Lab - Final Presentation for EcoBeautyLab

you deserve a better shopping experience

Page 14: Stanford Venture Lab - Final Presentation for EcoBeautyLab

one that is fun and interactive

Page 15: Stanford Venture Lab - Final Presentation for EcoBeautyLab

with great design and stunning imagery

Page 16: Stanford Venture Lab - Final Presentation for EcoBeautyLab

an experience that gives you enough curated choices

Page 17: Stanford Venture Lab - Final Presentation for EcoBeautyLab

to exercise control and power

Page 18: Stanford Venture Lab - Final Presentation for EcoBeautyLab

but with expert guidance and recommendations

Page 19: Stanford Venture Lab - Final Presentation for EcoBeautyLab

to feel confident and not overwhelmed

Page 20: Stanford Venture Lab - Final Presentation for EcoBeautyLab

because creativity loves constraint

Page 21: Stanford Venture Lab - Final Presentation for EcoBeautyLab

express yourself from deep within

Page 22: Stanford Venture Lab - Final Presentation for EcoBeautyLab

BY personalizing items that you use everyday

Page 23: Stanford Venture Lab - Final Presentation for EcoBeautyLab

because your outside is a canvas for who you are on the inside

Page 24: Stanford Venture Lab - Final Presentation for EcoBeautyLab

create thoughtful gifts that will delight your family and friends

Page 25: Stanford Venture Lab - Final Presentation for EcoBeautyLab

no more false gimmicks and deceptive labeling

Page 26: Stanford Venture Lab - Final Presentation for EcoBeautyLab

support locally-based businesses

Page 27: Stanford Venture Lab - Final Presentation for EcoBeautyLab

help us give jobs to people

Page 28: Stanford Venture Lab - Final Presentation for EcoBeautyLab

be part of a bigger cause

Page 29: Stanford Venture Lab - Final Presentation for EcoBeautyLab

reconnect with nature

Page 30: Stanford Venture Lab - Final Presentation for EcoBeautyLab

be the cool one among your friends

Page 31: Stanford Venture Lab - Final Presentation for EcoBeautyLab

be unique

Page 32: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Who are our customers?

Page 33: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Meet Felicia

Felicia is a 24-year-

old working

professional living by

herself in the city

with a disposable

income who spends

most of her free

time online.

Page 34: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Her HabitsCreativity and Personal Expression• She loves being creative and feels the need to express herself from something deep within her. She

does so by blogging, filming YouTube videos, capturing pictures with Instagram, writing beauty reviews, creating fashion collages on Polyvore, contributing articles to female magazines, commenting on beauty websites, participating in forums and bookmarking beautiful pictures on Pinterest.

• With so much time spent online and on her mobile, it is no wonder that she has weaker interpersonal skills

Openness, Social Sharing and Validation• She likes the social validation that comes from her tribe in the form of Facebook likes, Twitter

retweets and Pinterest repins. She spends time sharing interesting links with her friends on Skype and Gchat.

Shopping• She uses at least 10 different personal care products a day. She sells and buys handmade jewelry on

Etsy. She subscribes to Birchbox. She downloads shopping apps on her phone.

Engagement• She wants good advice and guidance but retain the power and given enough choices to make her

own decisions. is easily distracted and needs to be constantly stimulated and engaged.

Page 35: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Her interests

Health and Beauty Wellness• She takes good care of her skin and

appearance because she believes that the outside is a canvas of who she is on the inside.

• She has no brand loyalty and would try out new brands that appeal to her.

• She puts life before jobs

Page 36: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Her Social Identity

• She is an early adopter, an influencer and a tastemaker. She reads beauty blogs and magazines because she likes to be the first to know about the latest trends. If anything catches her eye, she’ll share it with thousands of friends and followers on social media networks.

• She is hipster. She is unique and likes to differentiate herself by rejecting mass-produced products.

Page 37: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Her Values

• She is altruistic. She is mindful of of how her purchases affects the environment and likes to be a part of a cause bigger than herself.

• She values authenticity and buys things that represents who she is. She is well-informed and can see through deceptive labeling and false gimmicks. She is distrustful of faceless corporations that will do anything at the expense of profitability.

Page 38: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Business model

Page 39: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Open Innovation

• Link our customization platform and internal resources to the outside world (let the customers tell us what they want through a guided process)

• Instead of an internal R&D process, structure an open R&D process that invites partners and customers to participate in the creation of end products

Page 40: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Long Tail

• Offering a large number of niche products, each of which sells relatively infrequently

• Low inventory cost and strong platforms

Page 41: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Marketing Strategy

Page 42: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Strategy

Form deeper relationships with a group of early-adopters and tastemakers who will be the evangelists of our products.

Lower acquisition costs since early-adopters like to be the first to access a product.

They are more willing to try it out and more forgiving of a less-than-perfect product.

Page 43: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Distribution

– Kickstarter Campaign

– Affiliate Traffic

– Referrals

– Search Engine Marketing (Google Adwords, SEO)

– Media Exposure (female magazines and websites)

– Public Relations (sending out personalized products to bloggers and other big brands)

Page 44: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Market Size

Page 45: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Market Size• Global Market Size: $350 Billion Per Year (According to

Euromonitor)

• U.S. Market Size:– 2010: $33.3 billion– Growth of $2.6 Billion

• U.S Organic: – 2010: $5 billion– Growth of $1.7 Billion

• Skincare: Largest portion of the beauty industry

• E-commerce & mass customization are new markets that have high-growth

Page 46: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Other Industry Trends

• Recession-proof (Consumers may not buy cars of diamonds, but they still indulge in small guilty pleasures)

• Products have high profit margins (Lower cost of goods sold) and customers are willing to pay premium

• Lower customer acquisition costs since it is easier to go viral as women are communicators and top users of social media networks and shopping

Page 47: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Funding

• Crowdsourcing

• Venture Capitalists

• Incubators

Page 48: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Risks

• Raw Materials

• Time

Page 49: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Meet The Team

Page 50: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Melissa Lim (Team Leader)• Managed a cross-functional

team of 11 at Singapore’s No.1 Women’s Website

• Managed beauty events with over 2000 attendees

• Part of a team that launched a women’s magazine that sold out upon launch

• Launched OpenRice.com, Asia’s No.1 Online Dining Guide in Singapore

Page 51: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Filippo Zanella

• PhD Candidate at University of Padua, Italy

• UCSB Visiting Researcher

• Team Leader of A-Pole, mobile application development Studio, team just got accepted to H-Farm one of the top incubators in Europe

• Fencing Champion in Santa Barbara

Page 52: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Russell Palmiter• Technical and product

management roles across various domains such as small business accounting (Intuit), creative professionals (Adobe), CRM (Salesforce), e-Commerce (Swimoutlet) and medical devices (Alcon)

• Masters in Computer Science

• Founder of IzKit, an e-commerce software provider

Page 53: Stanford Venture Lab - Final Presentation for EcoBeautyLab

Valentina Pachova

• Physicist by education

• Working at Origins, a company that prides itself as being powered by nature and proven by science

• Brings her love and research for natural ingredients to our project