Crescendo Columbia 2015

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Lean Launch Pad – Day 5

Effortlessly create customized, high quality music to enhance your video memories. No musical know-how required.

Cohort 4, Team 18:Lawson Anderson ● Zhedong Chen ● Ethan Cohen ● Jon Merkin ● Drew Silverstein

Interviews since last class: 17Total interviews this week: 84 Total test videos created: 12

Business Model Canvas – Initial

Key Partners Key Activities Value Proposition Customer Relationships Customer Segments

Key Resources Channels

Cost Structure Revenues Streams

Millennial (Personal) Consumers:

● App store/mobile app

● Website Download

Creative Professionals:

● SaaS Web App

● SaaS Marketplace


● Digital influencers (articles / blogs)

● Customer loyalty features

● User community

● Search advertising


● Salesforce

● Referrals

● Technical support/Account manager


● Create videos mobile devices

● Share with friends and family

● Made for personal use


● Create content for other businesses

● Ad agencies (creatives)

● Freelance producers

Both Segments:

● Worker salaries

● Office space

● Technical services (e.g., AWS)

● IP protection, legal fees


● Advertising


● Free product with 10 songs free

● Then $2.50 for each ten published/exported songs

● Option for $5/month subscription with unlimited access

● Exports mp3 file-type only (mobile use case)


● Offer promotional one-month free trial

● Subscription for $100/month with unlimited access

● Exports WAV file-type only (desktop use case)

Both Segments:

● Promoters (bloggers)


● Tent pole users (e.g., online celebs)

● Sponsored users who promote


● Video content improvement

● Accessible, high quality music

● Ease of use

● Speed / time savings


● Avoidance of copyright issues


● Ability to easily iterate song creation

● Cheaper than the current options


● Users must create videos

● Seamless product functionality

● Must view music as a commodity


● Companies must create content

● Must view music as commodity

Both Segments:

● Backend technology

● Programmers/developers

● Music analysts

● Server space (e.g., AWS)


● Salesforce

● Product support professionals

Business Model Canvas – Final




Personal:



Professional:

● SaaS Web App


Personal:


● End credit title card, default social

media credit, no audio branding


● Referral incentives

Professional:

● Salesforce

● Referrals

● Technical support/account manager

● VidCon (ComiCon for Social Media)

Personal

Initial Customer Segment:

● Mothers with kids ages 0-5

Future Customer Segments

● College students

● Young adult adventurers

● Self-interested travelers

● Socially absorbed teens

● Pet owners

● GoPro Users

Professional:

● Video editors (work for a media co.)

● Video producers (freelance)

● Social Media Managers

Personal:

● Employee salaries

● Office space

● Technical services, licenses, and subscriptions

● Computer hardware and software

● Legal

● Accounting

● Marketing

● Coffee. Lots of coffee.

Personal:

● Free product with 1 week free

● Referral = 10 songs free

● Then $4.99 for each ten song creation pack



Personal:


● Existing video editing and social

media applications

● Amazon Web Services

● Legal and Accounting

● Early-stage outisde investors

● Startup-friendly bank


Personal:

● Ease of use



● Accessible music

● Creative tool for young kids

● Create music independent of video

Professional:




● Each track is unique



Personal:

● Back end software development

● Front end UI/UX development

● Website development

● Server hosting and processing

● Physical and digital marketing

● IP Protection

● Accounting

● Fundraising

Personal:

● Developer(s)/Programmer(s) (1-2)

● Audio sample content creators (2)

● Business management (1)

● Patent(s)

● Capital Investment

Product-Market Fit

“Compose the soundtrack of your life in seconds”

“No more royalty free music”

Day 1: Initial Hypothesis

Days 2 – 4: Listening to Customers

Day 5: Refined Positioning

“Create professional, customized music in under 1 minute with just a few clicks”

- Ease of use- Speed of results- Enhance content

- Unique music- Time savings- Sound quality

Personal

Professional

Customer Segmentation

Day 1: Broad Groupings

Days 2 – 4: Narrowing the Archetypes

Day 5: Identify Initial Target Archetype

Vs.

-Who are they?

-What are their pains?

-How are they similar? Different?

Personal

College Students

Social Teens

Parents

Pet Owners

Adventurers

Professional

Editors

Producers

Social Media

Managers

Mothers of Young Children Ages 0-5

Name:GretchenAge: 31Children:Asa, 8 mo.Location:UrbanIncome: Middle

• Reads Parenting and Oprah Magazines• Eager to capture memorable moments

on iPhone 6; 5-7 videos per week• Takes and shares recommended

products/services with other young moms at daycare pickup

• Willing to spend disposable income on products/ services related to child

• Always keeps phone nearby when with Asa mornings, evenings and weekends

“Get – Keep – Grow” Strategy

Get

• Free trial and credits

• WOM, social media

• Blogs & listservs

• Influencers

• Play groups and baby classes

• SEO, Google Ads, Facebook Ads

Keep

• Consistent feedback

• Ensure ease of use

• Improvements and updates

• Referral program

• Predictive recommendations

• User community

Grow

• Referral program

• App updates / new features

• Offer video editing software

• Weekly rec’s for new uses

• Other customer segments!

“Keeping up with the Joneses”

Channel: App Store

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Our Company App Stores Consumers

App Stores30% Cut

Crescendo ProfitReferralCredit

Acquisition + R&D + Operating Overhead

Free Trial, Refer a Friend, Buy

Free Trial

Free Trial

Free Credit

Buy

Buy

Free Trial

Free Trial: 1 weekReferral: 5 songs freeBuy: $4.99 / 10 songs• In-App purchase• 30% App Store Cut

Free Credit

`

Key Resources, Activities, Partners

Developer(s) /Programmer(s)

Audio Sample Creators

Business Management

Capital Investment

Video Editing

& Social Media Apps

AWSLegal

Counsel

Tent Pole

Users

Angel & Institutional

InvestorsAccountant

Software & UI/UX Dev.

Server Space

IP Protection

Marketing Fundraising Accounting

Patents

Resources PartnersActivities

What’s Next for Crescendo?

• Continue to refine initial target segment• Prioritize back-end technology development• Refine UI/UX based on usability feedback

• Home in on remaining target segments• Refine business model for other personal users (e.g., GoPro)• Identify similarities/differences among segment preferences

• Better understand cost side of business• Model out overhead allocation per download• Drill down on profit per download

• Plan expansion into professional market• How to establish trust with professional users• Adaptation of back-end technology to differentiated UI/UX

APPENDIX

CrescendoEffortlessly create customized, high quality music.

No musical know-how required.

Select Video

Consumer Product Mock-Up 1

Please select desired musical mood or feeling (up to 5):

Drama Action Comedy Horror

RomanticCool ConfidentMellow

Sparse Chill Tension More…

NextBack


Try Another Option?

Ready to Share?

Save to Library Facebook YouTube Vine

SnapChat Instagram Text Email


CrescendoEffortlessly create customized, high quality music.

No musical know-how required.

Select Video


Please select desired musical mood or feeling (up to 5):

Drama Action Comedy Horror

Romantic Inspirational Reflective Mellow

Sparse Happy Tension More…

NextBack


Try Another Option?

Ready to Share?

Save to Library Facebook YouTube Vine

SnapChat Instagram Text Email


Business Model Canvas – Day 2








● SaaS Web App





● User community



● Salesforce

● Referrals

● Technical support/Account manager



Parents (especially w/ young kids)

- Ages 28-40, mostly female

College students (viral)

- Ages 18-22

Adventurers

- Ages 22-35, mostly male

Self-interested traveler

Socially absorbed teen

- Ages 12-18, mostly female

● Create videos on mobile devices




Video editors (work for a media co.)

Video producers (freelance)

Social Media Managers

● Create content on desktops

● Businesses are clients

● Made for professional use

Both Segments:


● Office space


● Legal services (e.g. IP protection)


● Advertising



● Then $2.50-$5.00 for each ten published/exported songs

● Option for $5/month subscription with unlimited access* (validated, but are people just being

nice?)

● Exports mp3 file-type only (mobile use case) - validated, file size more important than audio

quality



● Subscription for $100 $50-$100/month with unlimited access

● $20-40 per track

● Exports WAV file-type only (desktop use case) - validated, audio quality more important than file

size

Both Segments:

● Promoters (e.g. bloggers)




● Existing video editing apps and

programs


● Ease of use












● Users must create videos or pictures

(to create slide shows)






Both Segments:



● Music analysts



● Salesforce






Personal:



Professional:

● SaaS Web App


Personal:



● User community


Professional:

● Salesforce

● Referrals



Parents (especially w/ young kids)

● Ages 28-40, mostly female

College students (viral)

● Ages 18-22

Adventurers

● Ages 22-35, mostly male

Self-interested traveler

Socially absorbed teen

● Ages 12-18, mostly female

● Create videos on mobile devices



● Pet owners

Video editors (work for a media co.)

Video producers (freelance)

Social Media Managers

● Create content on desktops

● Businesses are clients

● Made for professional use

● Schools, universities, small

businesses (who create their own

content)

Both Segments:


● Office space



Professional:

● Advertising

Personal:





Professional:


● Subscription for $50-$100/month with unlimited access OR $20-40 per track for freelancer

● Two different models for freelancers vs. media co. employees (who only want unlimited

subscriptions)


Both Segments:


● Video editing software

(e.g. iMovie, GoPro Studio,

Animoto, Ocho)

Personal:



● Existing video editing applications

Personal:

● Ease of use





Professional:







Personal:

● Must create videos or slide shows



Professional:



● Create software (mobile)

Both Segments:



● Music analysts


Professional:

● Salesforce






Personal:



Professional:

● SaaS Web App


Personal:


● End credit title card, default social

media credit, no audio branding

● User community


● Referral incentives

Professional:

● Salesforce

● Referrals



Personal:

● Parents (especially w/ young kids)

● College students

● Young adult adventurers

● Self-interested travelers

● Socially absorbed teens

● Pet owners

● What is the common thread btw.

these Personal user segments (i.e..

what is the real segment)?

Professional:

● Video editors (work for a media co.)

● Video producers (freelance)

● Social Media Managers

Both Segments:


● Office space



Professional:

● Advertising

● Use case verification

Personal:





Professional:

● Offer promotional one-month free trial, then monthly subscription or per track cost

● Price based on use case (TV, online, etc.)

● Two different models for freelancers vs. media co. employees (who only want unlimited

subscriptions)


Both Segments:


● Video editing software (e.g. iMovie,

GoPro Studio, Animoto, Ocho)

Personal:



● Existing video editing applications

Personal:

● Ease of use



● Accessible music


● Create music independent of video

Professional:







Personal:

● Social media sharing/integration


● UI/UX design

Professional:

● UI/UX design, integration

● Competitive pricing

Both Segments:



● Music analysts


Professional:

● Salesforce


Channels and Revenue – Professional

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Our Company

ProfitSG&A + R&D

SalesForce

Production Company

Ad Agency

Sales C

om

missio

n

Mark-Up to Agency

Crescendo Columbia 2015

Education

Transcript of Crescendo Columbia 2015