PocketSights Pitch to Everyone 11-1-2015 v6

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PocketSights, Inc. Confidential Investor Presentation 1

Transcript of PocketSights Pitch to Everyone 11-1-2015 v6

Page 1: PocketSights Pitch to Everyone 11-1-2015 v6

P o c k e t S i g h t s , I n c .

Confidential Investor Presentation1

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Executive Summary

What We Do:• PocketSights, Inc. creates technology to boost tourism, revitalize communities, and connect prospect

students to colleges. Universities and the cities they are in. Organizations like historical societies, downtown

alliances, Art partnership, colleges and universities can partner together on PocketSights Enterprise open

app platform to create mobile guided tours that engage visitors in there area. Cities and Universities can

create their own brand application as well.

• We are focused on the $1.5 billion entertainment and educational mobile app market.

Current Status:

We are launched, with revenue, but looking to scale

Traction to date includes:

• (Quarter 1): Prototype tested and works, Beta Test Won $7,500 CNY Civic App Challenge

• (Quarter 2): Won Ford Mobility Integration Challenge $3,000,

• (Quarter 2): First Customers– Downtown Ithaca Alliance and Cornell Plantation

• (Quarter 3): PocketSights iOS App is Launched in the App Store

• (Quarter 4): Winner of Pact Wayfinding App Challenge

Currently Raising:• seed round.

• Previously won [$10,500] from AT&T, Syracuse Tech Garden, Syracuse University, SUNY Oswego,

RVD IDEA, CenterState CEO, Hack Upstate, Ford Mobility Integration, ChallengePost, University of

Pennsylvania. PACT

Team Experience

Pilot Customers/Partners

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Target Market: Clear gap and urgent pain in university markets with small to medium size cities are an opportunity

• Competition negligible, indirect, not well established

• Potentially large and open field

• Clear gap especially for large and medium universities and colleges in small and medium size towns

• Low market awareness

Clear Market

Gap

• Universities can’t meet tour demand due to:• Timing

• Volume

• Guide Availability

Urgent Pain

Market Opportunity

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Click on image or link to see vide: https://www.youtube.com/watch?v=WQ5H5dWyKpc

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Market segmentation for self guided tour apps

Market

University/Colleges

Business association

Historical organization/ Museums,

Arts

Tour operators/Travel agencies

5

Most Competitive

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Problem

The current problem is colleges and universities don’t have enough student tour guides and admissions staff to

give prospective students a tour of their campus. Colleges and universities are unable to meet the demand

turning many students away leading to loss in tuition dollars and the ability to control their marketing and

branding on what is being said during these campus tours.

[Prospective student calls to

Try to set up a time for a campus tour]

[Student is unable

To attend a campus tour

Attends a different school]

[Existing Solutions

Are Broken/Nonexistent]

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A Few Steps Before Moving Forward

Tour Operator Market Should be Studied

• $7 b industry with %41 domestic packaged toursMarket Size

• Mature, fragmented & highly competitive

• Differentiating is vitalCompetition

• $1.2 b spending on wages

• Cutting cost is top priorityCosts

PS offers both revenue generating & cost cutting strategy

Apps can be a differentiating factor

Market Opportunity

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SolutionOur mission is to provide mobile users an authentic experience that gives them

the confidence and direction to explore and discover the places around them,

while learning about history and culture of your College, University and city.

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Looking Forward

• We’re seeking funding for growth

• Looking to help additional customers

• Hiring sales reps and support staff

Team

Bu

ild

ing

Co

mp

an

y

Pro

gre

ss

May June July Aug Sept Oct

Launch Goal Goal Goal

Nov DecApril

June 2014 Incorporated Jan 16

June 2014

March 2015

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Go-to-Market Strategy

Target Market

Positioning

Price

Product

Promotion

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Target Market: Small and medium sized universities/cities represent significant market

• Total Universities: 332• Total Students: ~1,900,000

• Large fraction are small or in small towns

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Target Market: Interviews with university admins show addressable pain points

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Clear Market

Gap

Target Market: Admins see value of self-guided tours in addressing tour challenges

67%

33%Recommend

Undecided

How likely are you to recommend using such apps in addition to tour guides?

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Clear Market Gap

• Introduce campus w/o visit

• More data on prospective students

• Makes university appear tech-savvy

• Risk Reduction

• Targeted tours for specific interests

Value of Self-Guided Tours

• Guided tours require talented student

• Self-guided tours can be impersonal

• Limited staff resources

• Contact info of people taking self-guided tours

• Consistency of student tour guides

• Availability of rooms and labs w/o guide

General Tour Challenges

Market Opportunity

Target Market: Admins see value of self-guided tours in addressing tour challenges

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University administrators, you can finally rest easy knowing that self-guided tours customized to reflect the quality of your university are available 24/7. That means no prospective student will miss out on a tour of your campus ever again.

Why you will love using PocketSights

Point-to-point navigation so students (and parents) explore campus, frustration-free, and even the surrounding city.

Virtual tours ensure that all prospective students– wherever they are in the world - get the chance to fall in love with your university

Positioning statement for admins: Campus

tours made convenient – for everyone.

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Positioning: PocketSights has features highly rated by university administrations

0%

20%

40%

60%

80%

100%

Importance of Features Rated by University Administrators

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Positioning: PocketSights can differentiate in features highly rated by university admins

Feature PocketSights YouVisit StrayBootsTourSphere

(OnCell)TourBuddy Discover Anwhere

Point to point navigation

Offline operation

Skip points on tour

User curated content

Audio guide

Push notification

Virtual Tour mode

Social integration

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Students and parents, you can get stuck in traffic on the way to your dream university and not stress about missing the last tour of the week. And you don’t have to visit 10 libraries before you get to the good stuff.

Why you will love using PocketSights

Positioning statement: Campus tours made convenient – for everyone.

Point-to-point navigation so you can explore campus, frustration-free

Customizable tours allow you to skip right to the parts of campus that you are most interested in

Virtual tours allow you to experience and compare campuses, no matter where you are in the world

Still learn the same fun facts about campus – but this time, you can actually hear the tour guide

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Positioning: PocketSights offers the top benefit students look for in campus tours and connects them to the community

44%

22%

34.00%

Intersting content Personalized interactionwith tour guide

Other

Students LIKE campus tours because:

Interesting content

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Positioning: PocketSights fixes top three points students dislike about campus tours

25%22%

20%

Not convenient Not customized tointersts

Poor logistics of tourgroup/guide

What students do NOT like about campus tours:

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Target Market: Providing self-guided tours addresses end-user preferences

38% Unlikely 62%

Likely

62% of students are likely to use self-guided tours in addition to guided tours

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Price: A price point in range of $4000-$6000 is both competitive & value-based

• Tour builder platforms-branded apps ~ $3000/yr

• Self branded platforms ~ $7000+

Competition based

• Spending on tours per school: 1000 tours @ $10= $10,000

Value based

To compete and gain market

share: $4000-$6000

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Pricing models of competitorsPocketSightsEnterprise

PocketSightsEnterprise+

YouVisit StrayBoots TourBuddy TourSphere (OnCell) MyTours Discover Anywhere

Only $199 a month or $2,388 a year

No set up fee

Set up monthly recurring payments

*Save 10% by paying off the full year in one payment = $2,149

*First Year New Member Discount - $150 = $1,999 a year or $166.58 a month

Only $299 a month or $3,588 a year

No set up fee

Set up free recurring payments

*Save 10% by paying off the full year in one payment = $3,229

* First Year New Member Discount - $150 = $3,079 a year or $256.58 a month

• Starts at $4980

• Licensing fee of $2000-10000 for larger museums and historical orgs.

• Individual download fee $6-12

• 50% profitsharing with org

• App-builder at $40/mnt

• iOS+Androidpackage at $800/mnt with $3000 set up fee

• Enterprise model at $1000/yr (iOS) with $3000 set up fee

• Plans range from $1500-$4788

• $900 set-up fee

• $1495/yr or $145/mnt

• $1995 set up fee

• Base plan for Y1- $5000

• Multiplatform @ $1000 ea

• Premium features @ $1000 ea

• Y2- $2000 maintenance + $250 for each app and feature

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Thank you!

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Appendix

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Market Research Approach

Market Research

Customers

Organizations

Universities

17 Interviews

Alliances

3 interviews

End-users

Survey

185 participants

2 focus groups

Competition

2nd Research

Primary Research

Internet Cold-calling

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Scope: Identify target market and conduct customer discovery to enhance product

PocketSights Potential Markets

UniversitiesBusiness Alliances

Zoos & Parks

MuseumsTour

Operators

Focus of this study (10 weeks & 5-10 hr/week)

Product Enhancement

Target Mkt

How do end-users like each feature? Do they have intended functionality?

What features to add and what feature to hone?

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Additional Market Growth

Tour Operator Market Should be Studied

• $7 b industry with %41 domestic packaged toursMarket Size

• Mature, fragmented & highly competitive

• Differentiating is vitalCompetition

• $1.2 b spending on wages

• Cutting cost is top priorityCosts

PocketSights offers both revenue generating & cost cutting strategy

Apps can be a differentiating factor

Market Opportunity

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Tour operators: Users are likely to use self-guided tour apps if tour operators offer them

82% Likely

82% are likely to use a self-guided tour on vacation or in a new place

62% are unlikely to create a tour for an event or trip of theirs

62% Unlikely

Our survey suggests a different hypothesis than that of Jodi Lapierre from

Visit Ithaca:

“We have stood united with research done by experts in the industry that consumers should not and likely will not

download a travel app.”

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Tour operators: PocketSights can enter this market when established in university market

• Stiff competition in tourist attraction cities from well established apps, but have won recognition in this market space

• Significant marketing & sales efforts & resources needed

Gain a foothold in university market and then penetrate tour

operators market

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Price: Benchmarking competitors shows a price range of $3000-$7000 YouVisit StrayBoots TourBuddy TourSphere

(OnCell)MyTours Discover

Anywhere

• >=$4980

• Licensing$2000-$10000

• 50% profit share

• $480-$4000 pa

• $2400-$5788 pa

• $3500-$3750pa

• Y1: $6000-10000

• Y2+ : $2250-$3250

Competition ranges between $3000-$7000 pa

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Evaluation of the functionality of PocketSightsto competitors

Features PocketSights YouVisit StrayBoots TourBuddyTourSphere(

OnCell)MyTours

Discover Anywhere

Point to Point Navigation

Yes No Yes Yes Yes Yes Yes

GPS/ Street maps Yes No No Yes Yes Yes Yes

GeoAlertsYes (while

passing by a POI)

No No Yes Yes No Yes

Multilingual No No No Yes Yes Yes No

Audio, Photo and Videos

Yes Yes Photos No videoYes (Video in Pro version)

No video Yes

Beacons and Geotags

Yes No No No Yes No Premium

Scavenger hunts game

No No Yes NoYes (in Pro

version)No No

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Evaluation of the functionality of PocketSightsto competitors

Features PocketSights YouVisit StrayBoots TourBuddyTourSphere(OnCell)

MyToursDiscover

Anywhere

Real time updates

No No NoOnly in

WebappOnly in

WebappOnly in Webapp Daily

Offline usage No YesYes (pre-

download)Native apps work offline

Native apps work offline

Yes Yes

Custom branding

Yes Yes No Yes Yes YesPremiumfeature

Analytics Yes Yes No No Yes No Yes

Social Integration

Yes Yes Yes Yes Yes No Yes

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Product: Projected use by universities

• Advertise PocketSights tour on

• Admissions website

• Recruiting materials

• Paper maps

• Collect data from end-users

• Most visited areas (e.g. interest)

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0%

20%

40%

60%

80%

100%

Product: PocketSights offers features highly rated by university students

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Features rated by students for usefulness

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Product: PS will be more competitive after recommended changes in price & features

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PocketSights YouVisit Projected Score (Pocket Sights)

Critical Success Factors Weight Rating Score Rating Score Rating Score

Multiplatform Compatibility 0.18 2 0.36 4 0.72 4 0.72

Monetization (price) 0.15 2 0.3 2 0.3 3 0.45

Point to Point navigation 0.22 2 0.44 2 0.2 4 0.88

User Interface 0.1 4 0.4 2 0.2 4 0.4

Funding 0.15 2 0.3 4 0.6 2 0.3

Updates 0.05 2 0.1 2 0.1 3 0.15

Memory usage (Response time) 0.07 3 0.21 3 0.21 3 0.21

Battery Usage 0.03 2 0.06 3 0.09 2 0.06

Brand Popularity 0.05 3 0.15 2 0.1 4 0.2

Total Points 2.32 2.76 3.37

Competitive Profile Matrix (CPM)