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MenuWhat is the best way to validate and monetize this idea?
A platform where brands can browse hospitality spaces and send a booking request to have their products featured in the area or book the area for a product demo/talk etc.
In a way it's similar to Appear Here but not limited to retail stores
Spaces we're targeting: spas, coworking spaces, coliving spaces, vacation rentals.
Answers
Validation and monetization - two great questions.
See some great tips on how to do validation in this answer: https://clarity.fm/questions/6423/how-do-you-do-market-research (happy to help you plan your specific validation process)
Regarding monetization - the most suitable business models in this case would be commission / intermediate fee taken from either the advertisers or the owners of the advertising spaces (spas, coworking spaces) or both of them.
Good luck
I've successfully helped over 350 entrepreneurs, startups and businesses, and I would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at the great reviews I’ve received: https://clarity.fm/assafben-david
Offer your services to an hospitality chain and create a proof of concept at one of their locations. A key element in this equation would be an application (ideally a web app) enabling the target hospitality chain to monitor brand booking requests. Successful proof of concept would then lead to stage 2, meaning scaling the strategy to more locations of the target hospitality chain.
Monetizing the business model could involve fixed monthly fees to use the application, or a royalty based model factoring in the proceeds from brands seeking to advertise.
Keep in mind that many hospitality chains are making a substantial part of their turnover from side businesses that you can help them market amongst their own clientele. For instance an upmarket hotel could make up to 1/3 of its turnover from its in-house restaurants, spas, etc.
Here are few tips, I’d recommend reading this!
1. Find a Profitable Niche (That You Care About)
2. Leverage Your Strengths and Outsource Your Weaknesses
3. Create an Early Feedback Group
4. Have One-on-One Conversations With Your Target Market
5. Develop a Competitive Advantage
6. Grow Your Email List
7. Build a Proof of Concept
8. Launch and Get Pre-Orders From Your Email List
9. Continue Building and Tweaking With Feedback
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What is the best way to validate a B2B2C idea?
If you are really thinking about building your product you should first do the alpha and beta. There is a strong community of tech people on Hacker News, ProductHunt and Reddit that will support your idea and even pay in advance if you can show a demo first. Give you an example: Dropbox. Drew (CEO) made this short video https://www.youtube.com/watch?v=7QmCUDHpNzE about how Dropbox was supposed to work. He send it to all the community and it becomes viral. Everyone started to sign up. He had a fremium model at start, but look at it now. So I will encourage you to do two things: Follow this order 1-Go and build your alpha/beta and create a demo that everyone can see and feel excited about 2-Share it with the community 3-If you want to "sell it" in advance you can use selz.com or payloadz.com And rethink you business model and moentization strategy so it adapts to your product and not the other way. :) If this helped let me know!JC
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How do I approach potential clients to give me feedback on my product?
Hi, I've worked for years in business to business sales and consulting. You need to find out who works or makes decisions in a company in the area that your potential product could be useful, ie customer service. LinkedIn could be useful for this. Call them on the telephone. Don't e-mail. Open the conversation by asking for help, 'Hi, I'm wondering if you could help me find the person who would be responsible for customer service? I'm looking to get feedback on an innovative new idea I'm considering developing that may be useful to your company.' The most important thing you could ask them during the call is whether they've ever identified the problem that you're proposing to solve as an issue themselves. If they've never noticed, or don't care, then your new product will have a more challenging sales cycle since you'll have to do a lot of education. If they already know they have a problem, you'll need to act quickly because they may be already looking for a solution. Best of luck. David BarnettDC
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What are some key considerations to generate QR codes that are compatible with stores' POS systems? Is this relatively complicated for an MVP?
QRs are simple links, typically URLs. To perform any kind of interaction with a 3rd-party system, you need to understand what parameters this system can take as part of a URL and see if it performs the expected use case well. My suggestion is that if you can generate the right use case by typing a URL in a browser, you can also support the same use case via a QR. The QR is not where the challenge is. I hope it helpsYS
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I need assistance with Creating an Internet Marketing plan to generate new bookings for a Local Hotel in my area. Who can help me with a call?
Happy to help with this and can probably bring lots of ideas to the table. Also, since LOCAL is the focus, you can't just use digital. Most of your bookings are going to come from local non digital marketing, but they will coincide with the digital marketing you do. The efforts need to be combined for effectiveness. If you are interested in a call please send me link to hotel's site so I can research before hand. OTA might not be the way to go. Happy to hop on a 10 minute free call to discuss further to see if there is a fit.CL
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In scenario of a marketplace website is it wise to go live where you have limited suppliers to test your idea which may cause user disappointment?
So long as the suppliers are able to deliver a basic level of service that would create a positive experience for the purchaser, I'd say that it's reasonable to conduct the experiment. Marketplaces always face liquidity issues in the early days. Happy to talk to you in more detail in a call to better understand your current MVP and roll-out plans and provide some more specific advice to you.TW
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