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Crescendo Columbia 2015

  1. crescen o 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: 17 Total interviews this week: 84 Total test videos created: 12
  2. 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 Millennial (Personal) Consumers: ● Digital influencers (articles / blogs) ● Customer loyalty features ● User community ● Search advertising Creative Professionals: ● Salesforce ● Referrals ● Technical support/Account manager Millennial (Personal) Consumers: ● Create videos mobile devices ● Share with friends and family ● Made for personal use Creative Professionals: ● 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 Creative Professionals: ● Advertising Millennial (Personal) Consumers: ● 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) Creative Professionals: ● 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) Millennial (Personal) Consumers: ● Tent pole users (e.g., online celebs) ● Sponsored users who promote Millennial (Personal) Consumers: ● Video content improvement ● Accessible, high quality music ● Ease of use ● Speed / time savings Creative Professionals: ● Avoidance of copyright issues ● Accessible, high quality music ● Ability to easily iterate song creation ● Cheaper than the current options Millennial (Personal) Consumers: ● Users must create videos ● Seamless product functionality ● Must view music as a commodity Creative Professionals: ● Companies must create content ● Must view music as commodity Both Segments: ● Backend technology ● Programmers/developers ● Music analysts ● Server space (e.g., AWS) Creative Professionals: ● Salesforce ● Product support professionals
  3. Business Model Canvas – Final Key Partners Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Cost Structure Revenues Streams Personal: ● App store/mobile app ● Website Download Professional: ● SaaS Web App ● SaaS Marketplace Personal: ● Digital influencers (articles / blogs) ● End credit title card, default social media credit, no audio branding ● Search advertising ● 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 ● Exports mp3 file-type only (mobile use case) ● Option for $5/month subscription with unlimited access Personal: ● Tent pole users (e.g., online celebs) ● Existing video editing and social media applications ● Amazon Web Services ● Legal and Accounting ● Early-stage outisde investors ● Startup-friendly bank ● Sponsored users who promote Personal: ● Ease of use ● Speed / time savings ● Video content improvement ● Accessible music ● Creative tool for young kids ● Create music independent of video Professional: ● Accessible, high quality music ● Ability to easily iterate song creation ● Cheaper than the current options ● Each track is unique ● Speed / time savings ● Avoidance of copyright issues 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
  4. 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
  5. 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: Gretchen Age: 31 Children: Asa, 8 mo. Location: Urban Income: 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
  6. “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”
  7. Channel: App Store crescen o Our Company App Stores Consumers App Stores 30% Cut Crescendo Profit Referral Credit Acquisition + R&D + Operating Overhead
  8. Free Trial, Refer a Friend, Buy Free Trial Free Trial Free Credit Buy Buy Free Trial Free Trial: 1 week Referral: 5 songs free Buy: $4.99 / 10 songs • In-App purchase • 30% App Store Cut Free Credit `
  9. Key Resources, Activities, Partners Developer(s) / Programmer(s) Audio Sample Creators Business Management Capital Investment Video Editing & Social Media Apps AWS Legal Counsel Tent Pole Users Angel & Institutional Investors Accountant Software & UI/UX Dev. Server Space IP Protection Marketing Fundraising Accounting Patents Resources PartnersActivities
  10. 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
  11. APPENDIX
  12. Crescendo Effortlessly create customized, high quality music. No musical know-how required. Select Video Consumer Product Mock-Up 1
  13. Consumer Product Mock-Up 1
  14. Please select desired musical mood or feeling (up to 5): Drama Action Comedy Horror RomanticCool ConfidentMellow Sparse Chill Tension More… NextBack Consumer Product Mock-Up 1 Try Another Option?
  15. Consumer Product Mock-Up 1
  16. Ready to Share? Save to Library Facebook YouTube Vine SnapChat Instagram Text Email Consumer Product Mock-Up 1
  17. Crescendo Effortlessly create customized, high quality music. No musical know-how required. Select Video Consumer Product Mock-Up 2
  18. Consumer Product Mock-Up 2
  19. Please select desired musical mood or feeling (up to 5): Drama Action Comedy Horror Romantic Inspirational Reflective Mellow Sparse Happy Tension More… NextBack Consumer Product Mock-Up 2 Try Another Option?
  20. Consumer Product Mock-Up 2
  21. Ready to Share? Save to Library Facebook YouTube Vine SnapChat Instagram Text Email Consumer Product Mock-Up 2
  22. Business Model Canvas – Day 2 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 Millennial (Personal) Consumers: ● Digital influencers (articles / blogs) ● Customer loyalty features ● User community ● Search advertising Creative Professionals: ● Salesforce ● Referrals ● Technical support/Account manager ● VidCon (ComiCon for Social Media) Millennial (Personal) Consumers: 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 ● Share with friends and family ● Made for personal use Creative Professionals: 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: ● Employee salaries ● Office space ● Technical services (e.g., AWS) ● Legal services (e.g. IP protection) Creative Professionals: ● Advertising Millennial (Personal) Consumers: ● Free product with 10 songs free ● 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 Creative Professionals: ● Offer promotional one-month free trial ● 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) Millennial (Personal) Consumers: ● Tent pole users (e.g., online celebs) ● Sponsored users who promote ● Existing video editing apps and programs Millennial (Personal) Consumers: ● Ease of use ● Speed / time savings ● Video content improvement ● Accessible, high quality music ● Creative tool for young kids Creative Professionals: ● Accessible, high quality music ● Ability to easily iterate song creation ● Cheaper than the current options ● Speed / time savings ● Avoidance of copyright issues Millennial (Personal) Consumers: ● Users must create videos or pictures (to create slide shows) ● Seamless product functionality ● Must view music as a commodity Creative Professionals: ● Companies must create content ● Must view music as commodity Both Segments: ● Backend technology ● Programmers/developers ● Music analysts ● Server space (e.g., AWS) Creative Professionals: ● Salesforce ● Product support professionals
  23. Business Model Canvas – Day 3 Key Partners Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Cost Structure Revenues Streams Personal: ● App store/mobile app ● Website Download Professional: ● SaaS Web App ● SaaS Marketplace Personal: ● Digital influencers (articles / blogs) ● Customer loyalty features ● User community ● Search advertising Professional: ● Salesforce ● Referrals ● Technical support/account manager ● VidCon (ComiCon for Social Media) 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 ● Share with friends and family ● Made for personal use ● 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: ● Employee salaries ● Office space ● Technical services (e.g., AWS) ● Legal services (e.g. IP protection) Professional: ● Advertising Personal: ● Free product with 10 songs free ● Then $2.50-$5.00 for each ten published/exported songs ● Option for $5/month subscription with unlimited access ● Exports mp3 file-type only (mobile use case) Professional: ● Offer promotional one-month free trial ● 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) ● Exports WAV file-type only (desktop use case) Both Segments: ● Promoters (e.g. bloggers) ● Video editing software (e.g. iMovie, GoPro Studio, Animoto, Ocho) Personal: ● Tent pole users (e.g., online celebs) ● Sponsored users who promote ● Existing video editing applications Personal: ● Ease of use ● Speed / time savings ● Video content improvement ● Accessible, high quality music ● Creative tool for young kids Professional: ● Accessible, high quality music ● Ability to easily iterate song creation ● Cheaper than the current options ● Each track is unique ● Speed / time savings ● Avoidance of copyright issues Personal: ● Must create videos or slide shows ● Seamless product functionality ● Must view music as a commodity Professional: ● Companies must create content ● Must view music as commodity ● Create software (mobile) Both Segments: ● Backend technology ● Programmers/developers ● Music analysts ● Server space (e.g., AWS) Professional: ● Salesforce ● Product support professionals
  24. Business Model Canvas – Day 4 Key Partners Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Cost Structure Revenues Streams Personal: ● App store/mobile app ● Website Download Professional: ● SaaS Web App ● SaaS Marketplace Personal: ● Digital influencers (articles / blogs) ● End credit title card, default social media credit, no audio branding ● User community ● Search advertising ● Referral incentives Professional: ● Salesforce ● Referrals ● Technical support/account manager ● VidCon (ComiCon for Social Media) 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: ● Employee salaries ● Office space ● Technical services (e.g., AWS) ● Legal services (e.g. IP protection) Professional: ● Advertising ● Use case verification Personal: ● Free product with 10 songs free ● Then $2.50-$5.00 for each ten published/exported songs ● Option for $5/month subscription with unlimited access ● Exports mp3 file-type only (mobile use case) 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) ● Exports WAV file-type only (desktop use case) Both Segments: ● Promoters (e.g. bloggers) ● Video editing software (e.g. iMovie, GoPro Studio, Animoto, Ocho) Personal: ● Tent pole users (e.g., online celebs) ● Sponsored users who promote ● Existing video editing applications Personal: ● Ease of use ● Speed / time savings ● Video content improvement ● Accessible music ● Creative tool for young kids ● Create music independent of video Professional: ● Accessible, high quality music ● Ability to easily iterate song creation ● Cheaper than the current options ● Each track is unique ● Speed / time savings ● Avoidance of copyright issues Personal: ● Social media sharing/integration ● Seamless product functionality ● UI/UX design Professional: ● UI/UX design, integration ● Competitive pricing Both Segments: ● Backend technology ● Programmers/developers ● Music analysts ● Server space (e.g., AWS) Professional: ● Salesforce ● Product support professionals
  25. Channels and Revenue – Professional crescen o Our Company ProfitSG&A + R&D Sales Force Production Company Ad Agency Sales Commission Mark-Up to Agency

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