Coin out columbia univ jan 2014
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www.coin-out.com (Team 8) The Digital Coin Jar Coin Out 1 *142 Interviews
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Transcript of Coin out columbia univ jan 2014
www.coin-out.com
(Team 8)
The Digital Coin Jar
CoinOutCoinOut
1
*142 Interviews
www.coin-out.com
Coin Out is for everyone
Need to integrate with old school POS
Merchants will love it
What We Thought
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Canvas 1
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Future partners are current customers
Value proposition requires precision
Big Ideas
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The Journey: Customer Discovery
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Tracked down 4 free passes to a conference, and then snuck in a 5th…
Kicked out of ~15 eating establishments…
Crashed 1 dorm party…
Bought and drank beers at 9 different bars (in one night)…
…all in the name of “customer discovery”
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Examples:oBartendersoWaitersoCafé customersoStudentsoTech-savvy professionals
The Journey: Customer Discovery
End-Users Merchants Industry Partners
8989 2929 2323
Examples:oFairway MarketoCommons ChelseaoChop’toCafé SilvanaoUniversity Stationary
Examples:oToshibaoHeartlandoAmerican ExpressoSquareoShopkeepoLeafoCloveroLevelUp
Total:
142
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The Reward: Customer Archetypes
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Day 1Start Day 3Day 2 Day 5Day 4
Point of Sale
Vendors
Merchants
End-Users
Ah-ha!
“Customer…not just a partner”
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Archetype: “New” iOS & Android PoS systems
Value Prop: Merchants happy; revenue-share
Archetype: “New” iOS & Android PoS systems
Value Prop: Merchants happy; revenue-share
Archetype: High-traffic, small biz w/ new PoS
Value Prop: Loyalty; communication channel
Archetype: High-traffic, small biz w/ new PoS
Value Prop: Loyalty; communication channel
Archetype: Smart phone user who is paid in cash
Value Prop: Utilize change; eliminate hassle
Archetype: Smart phone user who is paid in cash
Value Prop: Utilize change; eliminate hassle
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Archetype: Point-of-Sale
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“Loyalty programs allow us to connect to customers and increase our ability to make some serious cash; we’d love another channel” ------ Manager at Joe’s
Archetype: Merchant
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Archetype: End-User
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Canvas 5
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Getting to MVP
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Getting to MVP
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Our MVP Demo
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First actual code…
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Next Steps
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For ongoing contact:
Jeff WittenNorman Niemer Lee Cooper Ivan Miao Berfu Altintas
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Thank You, Lean Launchpad!
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Appendix
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Canvas 1
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Canvas 2
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Canvas 3
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Canvas 4
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Canvas 5
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Market Size
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1 Million Target Users
1 Million Target Users
TAM
Possible capture- User number
for similar mobile payment system
Opportunity
Total Smartphone Users - 60.8% of mobile market penetration
SAM Mobile usage- 24% people active mobile phones to pay
143.3 Million Total Users in US
34.4 Million Potential Users
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Get Strategy
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Financials
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1 2 3 4 5
Users 1,000 250,750 500,500 750,250 1,000,000
Revenue ($MM)
$.02 $4.51 $9.01 $13.50 $18.00
Gross Margin
$0.00 $0.95 $1.95 $2.85 $3.80
Net CF ($0.93) ($0.24) $0.71 $0.88 $1.05
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Value Prop CanvasGain Creators Gains
Quick exchangeLoyaltyFun experience
Recognize value capture that otherwise wouldn’t haveNew access point for rewards/added moneyEntertaining and fun way to earn
Customer in and out quicklyCashiers counting fewer coinsCommunication to new customer base
More efficient POSMore moneyGreater traffic
Pain Relievers Pains
No more loose coins in pocketsImmediate conversionDigital access/staying on top of deals
Carrying around coinsWalking/finding the Coinstar machine Forgetting loyalty card/not getting credit
Cashiers spend less on counting coinsLess need to stock Get people paying in cash out quicker
Time costsCosts of stocking registersLong lines
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