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LetsSplit is the idea created & developed by Team Jellyfish as part of the Squared Online course.
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2. 2
THE PROBLEM
Group
bookings
involve:
Ø getting
everyone
to
agree
on
the
booking
Ø building
con3idence
people
will
pay
Ø chasing
people
for
money
Ø Testing
relationships
with
the
stress
of
money
owed
3. 3
The marketplace
No
Group
Bookings
Expedia
Self-‐Serve
Group
Bookings?
Manual
Group
Booking
STA
Travel
Republic
Thompson
4. 4
The Users
Teachers
booking
school
trips
Hobbyists
booking
for
teams/groups
Young
people
on
budget
holidays
Stag/Hen
Trips
For
details
of
personas
please
refer
to
the
relevant
appendix
The Effected customers
• PART
OF
A
MEDIUM/LARGE
GROUP
• ORGANISED
• MOBILE
• BUDGET
CONSCIOUS
• TIME
POOR
Their priorities
• EASY
/
CLEAN
/
QUICK
• FLEXIBLE
• SAFE
• ABILITY
TO
‘CHASE
UP’
PAYMENTS
• ITINERARY
BASED
5. 5
The opportunityBased on analysis on appendix p24-25
Ø The
holiday
booking
industry
is
worth
£45bn
in
the
UK
and
this
increasing
every
year.
This
is
coupled
with
a
steady
decline
in
the
rate
of
solo
bookings
(as
seen
on
Google
Trends).
Ø No
one
offers
a
simple
self-‐serve
group
payment
booking
site.
Ø There
are
currently
no
services
that
allow
for
safe,
transparent
and
trackable
group
payment
systems.
6. 6
The ProbleM
Group
bookings
involve:
Ø getting
everyone
to
agree
on
the
booking
Ø building
con3idence
people
will
pay
Ø chasing
people
for
money
Ø Testing
relationships
with
the
stress
of
money
owed
The Solution
ü A
group
payment
mechanism
integrated
into
a
simple
to
use
holiday
booking
website
ü The
booker
pays
the
deposit
ü Each
member
pays
for
their
own
share
ü Payments
can
be
tracked
online
7. 7
Group booking made easy.
We provide a simple, efficient service for splitting
group holiday payments, so you can focus on the trip,
not the budget.
8. 8
The Strategy
Product
Leadership
First
to
market
with
a
unique
payment
mechanism
allowing
groups
to
manage
payments
for
holidays
and
avoid
aggravation
over
the
use
of
an
individuals
card.
Operational
Excellence
A
travel
website
which
is
easy
to
navigate
and
feels
intuitive
to
today’s
independent
travellers
who
want
quick,
reliable
and
ef3icient
group
holiday
bookings
online.
The
product;
a
competitive
online
travel
agency
targeted
at
group
booking
with
an
integrated
as
the
group
payment
mechanic.
Value Discipline Strategy
9. 9
Product Development Timeline
Pre-‐launch
development:
• Extensive
market
research
*
Mechanic
design
&
tesEng
*
Alpha
&
beta
builds
FY1
One
product,
one
campaign
:
sun
Final
version
build
FY2
Two
markeEng
campaigns
–
ski
and
sun
11. 11
The Operations
Small
customer
service
team
handle
account
/
payment
issues
Analysts
site
analy;cs
macro
trends
Sales
/
markeAng
promo;on
customer
engagement
3rd
party
relaAonships
tour
operators
payment
gateway
SMS
gateway
13. 13
The Branding / website
Mobile
option
Must be:
• Fast
• Multi-‐browser
• Clear
on
price
&
charges
Must not:
• Show
errors
• Confuse
the
user
• Vary
layout
on
different
pages
14. 14
The Marketing Plan
Ø Primarily
digital
but
with
outdoor,
experiential
and
traditional
PR
components
Ø Precise
market
focus
on
a
single
market:
18-‐25
year
old
group
holidays
(school
leavers,
uni
friends)
Ø
Efforts
will
be
concentrated
on
London
and
other
big
university
towns
Ø Core
messaging
is
built
around
sharing
experiences
and
making
the
most
of
being
young.
Ø Heavy
focus
on
retention
and
reactivation
in
FY2
17. 17
Sales Goals & Expected Revenue
Sales Goals:
Ø 15 group sales a month &
increase to 60/month in 1st year.
Ø 15% to 18% margin in the first 6
months to increase to 20% later in
the year.
Ø Double the sales during the peak
period in the year. i.e. April till
August.
Revenue Streams:
Ø Direct Sales on the website and through
inbound/outbound calls.
Ø Advertising on the website.
Ø Commissions From airlines, hotels, car
rentals etc.
Average
sale
value/person
30
Sales 45
Sales 60
Sales
£150 £4,500 £6,750 £9,000
£200 £6,000 £9,000 £12,000
£250 £7,500 £11,250 £15,000
*
The
average
sale
value
was
derived
from
the
primary
research
with
travel
agents
considering
DomesEc
and
InternaEonal
Eckets
21. 21
The Considerations?
Ø Group
payment
feature
easily
replicated
by
existing
players
in
this
market
Ø Need
to
integrate
with
enough
tour
operators
to
make
it
viable
Ø Large
numbers
of
regulations
to
protect
consumers
Ø Entering
a
well-‐established
market
Ø Delayed
payments
and
multi-‐currency
transactions
could
lead
to
losses
For
details
of
PEST
and
SWOT
analyses
please
refer
to
the
relevant
appendix
22. 22
Some possibilities…
• Schedule
Payments
/
Installments
• Patenting
/
Renting
the
patent
• Expansion
into
International
markets
• Additional
services
(theatre
tickets,
gifts
etc.)
• Sales
to
clients
in
industries
of
the
above
• Advertising
on
the
site
• Group
promotions
and
exclusives
• A
group
travel
blog
with
recommendations
for
groups
The Future
23. 23
FOR more Information, please view our appendices deck on slideshare.
if you have any questions, Come and join the discussion on the squared online forum.