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Transcript of Final pptwit2012
Travel for Starters
Timothy O’Neil-DunneValyn Perini
Anil DamodoranFilip FilipovAlex Kremer
Frank Lin
Travel for Starters
• Don’t know what you don’t know about travel?– How it works– Why it works• Or doesn’t
– Where the opportunities are– About VaultPad– About OpenTravel
Think Of The Travel Industry As A Series Of Tribes
• Unique cultures and practices within each segment but
• Inter-connected• Relationship-based• And with similar technical and
commercial challenges
Distribution is Key
But First…
Have You Really Thought This Through?
Startup Success Formula
• Compelling proposition +• Viable market• Acquiring customers +• Monetizing the activity +• Secret Sauce +• Retaining customers +• Replicating the activity multiple times
Are you the right person for the job?
• Do you have relevant experience?
• Are you “presentable”• Are you skilled?• Are you smart enough?• Are you lucky?
The Team
• Does the team fit?• Is it fit for purpose?• Can you get help?• How does it respond under pressure?• Credible to stakeholders?• Longevity?
“The Danger of Celebritizing Entrepreneurship”
• Says the HBR Oct’12– http://blogs.hbr.org/cs/2
012/10/the_danger_of_celebritizing_en.html
The Proposition• Original• Inspirational• Valuable• Repeatable• Meaningful• Indispensible• Not someone else’s!
The Market
• Have you assessed the market?– Quantified– Qualified
• Is it viable?• Who is already there?• What will be the market’s response?• How will you reach that market?
Do you understand the complexity?
• Markets are complex• Products are complex• Technology is complex• Travel is complex• People are complex• Combinations are mindboggling
Catching Customers
• Catching customers is not the same as acquiring users– Just look at Facebook!
• Once caught you have to retain and leverage them.
Monetization
• Traditional models are being blown up• For example TripIt• Beware the vendors• CPC is dead and CPA?• Follow the money• Avoiding the SEO/SEM trap • The elephant aka Google
Getting Information and Inventory
• Suppliers (hotels, airlines, etc.)• Intermediaries (GDS, OTAs, wholesalers,
Pegasus, etc.)• Technology providers (HP, Datalex, Wipro, etc.)• Third party aggregators of information (OAG,
ARC, ATPCO, Smith Travel Research)
Travel Sellers Have A Galaxy Of Sources Constantly Sending And Receiving Customer Data
Website
GDS
Counter/On-board
Kiosks
Loyalty/CRM/eCRM
Form of payment
PartnersSmartphones
Tablets
Goggles
Social media
Ad click-through rates
Search click-through rates
Direct connects Email offers/responses
Call center
Location-based services
Up-sell/cross-sell offers/responsesType of computer
Browser
Questions…
• Do I need inventory or just information?• Do I want inventory/info by– Travel segment– Region– Category (luxury, economy)– Brand– Do I need it real-time or near real-time?
How Do I Pay for It?
• Many and different• Determine it’s:– Supply Paid– Consumer Paid– 3rd Party Paid– Other?
• Is this defensible?
Resources
• Associations – HEDNA, CASMA, HSMA, ATTA• Publications – Travel news websites, analysts,
consultants• Conferences• Make friends and have conversations,
endlessly
Travel for Starters
Timothy O’Neil-DunneValyn Perini
Anil DamodoranFilip FilipovAlex Kremer
Frank Lin