Love your layover - Lean Startup Machine NYC
description
Transcript of Love your layover - Lean Startup Machine NYC
ProblemTravelers with layovers are...
boredtrappedlosthungrytiredlonelyunconnected bogged down by luggage
uncomfortablefeel unsafehave petshave hygiene needshave medical needshave kidswant to be entertained,have to reschedule travel.
Market Sizing3.6B airline passengers annually
1.8B layovers
Most layovers are short, but potential value of the customer increases as does the length of the layover
Estimate of layover distribution: 78% short (<5 hours), 19% Mid-length (5-7 hours), 3% Long (>7 hours)
Estimated value of each converted customer: $1 Short, $5 Medium, $10 Long
Total Market size (ads only): $35M/yr, with "mid-length" layovers representing $16M (47%)
Potential Customers
Vacation travelers: • Flying solo• With a friend/spouse• With kids or petsBusiness travelers:• Flying solo• With colleagues• With non-business flyers
Assumptions:Open-mindedFoodiesAdventurersMay have dietary restrictionsCulturally orientedGoal orientedSeeker vs serendipitous styleTravel regularly
Parameters
Amount of timeTime of day BudgetAirport amenitiesLack of city info TransportationNeed to reschedule/delayedIn home country or notTraveling party
How customers currently tackle layovers
Seek advice on forums beforehandSleepSuffer through itRead/watch movies Walk the terminalAsk a hotel concierge Just wing it/solo exploration
Assumed SolutionsCrowd-sourced research hubService provider/matchmakerLocation-specific dealsPaid app that doesn’t require connectivity
Revenue HypothesesAdvertising, tourism boards could be a key customerCoupons from in-airport businessesPaid iPhone appPlan itineraries for those who do have time to leave the airport, with a booking fee
Key assumptions
There are many long layoversLong layovers are plannedBusinesses in the airport want to give dealsTourism boards have ad moneyConsumers are the more likely users instead of business travelersWillingness to escapeAirports and vendors will work with usPeople are interested in doing things outside the airport
Customer Discovery Plan
Interview both vacation and business travelersInterview people in line at tourist attractionsSearch Twitter for "layover", @ travelers, ask to chatOnline Survey CraigslistTravel forum postsResearch stats on layovers
Are most layovers planned or not?Are there more layovers in the US or internationally?
On-the street Interviews
Approached people in Union Square and in line at Times Square.
People often read, slept, ate or shopped during layoversThey wouldn’t leaveMost people said they would try to find a barNew Yorkers hate talking to strangers
Twitter Findings23% of users contacted responded, 13% engaged deeply (multiple correspondences)
The need spans geographic boundaries: Respondents were in at least 11 different airports
Those who engaged planned to fill their time otherwise with a variety of activities: Reading, Shopping, Eating, Watching movies, Watching in-terminal TV
Most respondents were NOT open to leaving the airport
Many people on Twitter (respondents or not) head straight to the bar at airports to pass the time
386 Visitors 17 Conversions429 views 4.4% Conversion
Landing page results~5% conversion rate
Geographic distribution of layover:
40% Domestic 60% International
What people want to do while on a layover:
Rest 11 peopleFreshen up 6 peopleFind local flavor 7 peopleSocialize 4 peopleExplore out 4 people
Find the whole survey at bit.ly/loveyourlayover
Acting on the Survey Results
From the surveys, we learned....
Users would prefer to our product as an appUsers wanted suggestions based on the length of layoverUsers aren't likely to leave the airport because of fears of getting caught in securityIf they did leave, it would be for a layover of greater than 5 hours, and usually on international stopsUsers seemed most interested in resting, drinking alcohol or eating over their layover
Survey results
Second App
Test Airport: NewarkOne of the world's busiest airportsHas some of the most delayed flights internationallyMost tweeted about in the context of a layover