seecure columbia
TRANSCRIPT
January 15, 2016
Seecure
Total # of interviews: 50
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People do not have ‘peace of mind’ with respect to their security
ProblemThese habits are inadequate and have negative consequences on:
• Savings: relying on car services rather than public transportation
• Health: avoiding jogging at night
• Time: lengthening commute by taking better lit routes
• Livelihood: realtors avoid holding open houses in higher risk neighborhoods
• Overall Wellbeing: avoiding desirable activities for fears of safety
Lastly, these habits are ineffective in protecting people from security risks
Security is of great importance to society.
We avoid risk and invest in security solutions to achieve ‘peace of mind’.
However, we do not attain this ‘peace of mind’ for three reasons
1) Security guards are not present everywhere
2) When guards are present, one questions their trustworthiness
3) Human intuition has its limitations
Our personalized approach to security enables people to live their lives confidently. Whenever they feel unsafe, they can have the people they trust the most looking after them
These limitations prompt the rise of personalized security solutions.
Personalized security solutions like GPS applications are ineffective in mitigating security risks
Consequence
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• Customer creates an event via iPhone or Android application and designates a Virtual Keeper (VK)
• The VK logs onto the application and observes 360 degrees of video around the customer
• VK and customer receive information regarding crime rates in area• If the VK identifies a critical security risk, the VK activates a siren to deter the
assailant • Algorithm will notify VK and customer of impending security risks• Video, audio, timestamp and GPS information is stored in cloud database
• Customer wears two to three small pins. Each pin has an 8 millimeter camera, camera sensor, Bluetooth/WiFi chip, and battery
• Each camera streams video, audio and orientation information (from G-sensor) to the phone using WiFi connection from camera to HotSpot on the phone
Hardware
Software
The product consists of• 360 degree view provided by wearable cameras• Virtual keeper• Algorithm to predict security risk• Remote siren on application
If people are not distracted by security fears, they will achieve gains in savings, time, career, health, and safety.
Seecure will alleviate security fears and empower customers to live confidently
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Customer receives automated
notification that someone is
approaching quickly
Customer creates a security event on their
smartphone and selects virtual keeper
VK logs in on application
VK observes 360 degree view as
customer enters parking lot
VK triggers siren on customer and blinking
light
END
Customer enters parking lot
Assailant approaches customer as customer nears car
VK contacts authorities with details of attack
Customer attaches pin to front of shirt and pin to back of shirt and activates
both pins
Customer prepares to enter parking lot after work
Customer Virtual Keeper
START
Customer enters parking lot at night with Seecure
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Core premises remain the same
Core Premises
1) People value security algorithm
2) People have adopted painful habits to mitigate security risk
Approach
1) Security algorithm- 1 year of video required for algorithm to
be operational
- Initial adopters need to provide video
- Prospective customers were asked about product without mentioning algorithm
- Interest in product significantly declined without mentioning algorithm
2) Pain points
- Probed habits to mitigate security risks
- Determined habits negatively affect time, money, and overall wellbeing
However, we needed to- Narrow security conscious women customer segment- Solidify value proposition for segment- Identify optimal sales channels- Prepare get strategy
Goals
Value Propositions Customer Relationships Customer SegmentsKey Activities
Key Partners
Key Resources
Channels
Cost Structure Revenue Streams
Day 1
Suppliers such as Qualcomm, Sony, Freescale, DH Gate.
ManufacturerTBD
DistributorTBD
Customer ServiceTBD
SalesUniversitiesReal Estate AgenciesLaw Enforcement
Manufacturing
Distribution & Fulfillment
Customer Relationships
Algorithm Development
ProductBluetooth / Wi-Fi chip; Image sensor; Controller; Camera
OperationsDistribution / Fulfillment capacity
MarketingExisting customers
TalentAlgorithm development
Women confront risk of sexual assault in daily routine- Inconvenient, time-
consuming, and ineffective habits
- Dissatisfied with current security solutions
Seecure empowers women with wearable camera and predictive analytics- Customer attaches a
wearable camera to clothes
- Designates a friend via on smartphone to monitor 360 degrees of video footage
- Friend can counsel the customer, contact the authorities, or trigger a siren
- Algorithm notifies the customer of impending security risks
MVP will include 360 degree camera, virtual keeper, remote alarm, and cloud storage.
Direct Materials from Suppliers
Direct Labor from Manufacturer
Direct Labor from In-Sourced Team
SG&A
R&D
Hardware for $200 at point of sale
Monthly subscription for $9.99
Licensing of algorithm
Customer growth through:- Geographic expansion- Secondary applications- Influencer endorsements- Social Media- B2B sales
Crowdfunding
Influencer endorsements
Social Media
Targeted blogs
Outside sales
Customer acquisition costs are $18.50 B2B
- Law Enforcement- Military- Real Estate Agencies
B2C- Security Conscious- Women- Female joggers- Seniors with cognitive
impairment- Special needs children- Children aged 6-12- Travelers
Target- Age: 25 to 54- Income: >$30K /
household- Phone:
iPhone/Android- Residence:
metropolitan- Behavior: call loved
ones when they feel unsafe
Our intention from the beginning was to only focus on security-conscious women. As a result, we omitted these potential future segments from the canvas.
The Algorithm – key element of the value proposition from the
beginning
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7
Day 1 Day 5
• Focused on 1 subgroup—security conscious female professionals as customer segment
• Solidified value proposition in absence of algorithm
- Algorithm requires 1 year of video footage and is not factored into initial purchases
• Assessed features that customers prize most
• Identified most effective sales channels given new market
• Mapped out purchasing funnel
• Struggled to identify characteristics that delineate security conscious women
• Failed to generate any orders for product
• Exploring pivot to other customer segments based on customer feedback
- Joggers
- Law Enforcement
• Incorporated the algorithm in the Value Proposition
• Identified security conscious women as customer segment with 4 subgroups
- Joggers
- Students
- Professionals
- Real Estate Agents
Summary of progress by day
1 2- 4 5
Value Propositions Customer Relationships Customer SegmentsKey ActivitiesKey Partners
Key Resources
Channels
Cost Structure Revenue Streams
Suppliers such as Qualcomm, Sony, Freescale, DH Gate.
ManufacturerTBD
FulfillmentAmazon
Customer ServiceTBD
SalesUniversitiesReal Estate Agencies
Manufacturing
Distribution & Fulfillment
Customer Relationships
ProductBluetooth / Wi-Fi chip; Image sensor; Controller; Camera
OperationsDistribution / Fulfillment capacity
Sales & MarketingExisting customers
Talent
Women have developed inconvenient habits to mitigate the risk of assault in their daily lives.
Seecure provides women with ‘peace of mind’ by having the people they trust the most to look after them.
The MVP consists of a wearable camera, deterrent, and a software application.
Hardware for $200 at point of sale
Monthly subscription for $9.99
Dedicated e-commerce
Google Play Store / Apple App Store
Direct Sales to Prof. Service Organization
Direct Sales to Airport/Train Station Electronics Retailers
Security ConsciousWomen Professionals
Archetype- Age: 25 to 54- Income: >$30K /
household- iPhone/Android- Behavior: call loved
ones when they feel unsafe
- Situational: jogging at night, walking home from work
- Biggest fear: sexual assault
Business Model Days 2 to 4
Variable- Direct Material- Direct Labor
Overhead- Customer service- Cloud Hosting- Cloud Operation- SG&A- R&DCAC
GetCrowdfundingAirport Retailer SupportProf. Firms SupportKey Influencers
KeepBlogsPromotions
GrowVirtual Keepers provide viral loop by expanding community
Identified 4 sales channels. Received
positive feedback from Airport Electronic Store
Failed on the Willingness to Purchase
Test: less than 20% would purchase the
product.
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JobsPains
Gains
• Inconvenience to yourself and others
- Calls friends and family when feeling unsafe
- Messages family and friends upon arrival
- Shares GPS location with family and friends
- Requests escorts to your vehicle
• Dependence: inability to do what you wish
• Fear: physical and emotional pains of assault
Pains
Gains• Time
- Removes need to call family and/or friends when feeling unsafe
- Retrieving car in parking lot• Independence: users can do what they wish• Assault prevention: deter attacks effectively• Peace of mind: reduces anxiety of user and family
Jobs• Ability to proceed in day
without distractions of fear• Reducing time spent on
security precautions• Deterring potential assault
Customer Map for Professional Women
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GainCreators
• Inconvenience to you and others:
- Removes need to call family when you feel unsafe
- Removes need to message family/friends upon arrival
- Removes need to share GPS location with family/friends
- Removes need for escorts to vehicles
• Fear: alleviates anxiety of you and others
• Peace of Mind: increased confidence in daily routine
• Assault prevention: reduces likelihood of assault
• Virtual Keeper• Remote Alarm• Panic button• 360 degree camera• Cloud storage• Crime analytics
Pain Relievers
GainCreators
Product
Value Map for Professional Women
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11
Pain Relievers• Cost • Inconvenience• Fear
Gain Creators• Assault prevention• Peace of mind
Products and Services• Virtual Keeper• Remote Alarm• Panic button• 360 degree camera• Cloud storage
Pains• Cost• Inconvenience• Fear
• Dependence
Gains• Time• Independence• Assault prevention• Peace of Mind
Jobs• Ability to proceed in day without
distractions of fear• Feeling confident throughout day• Ability to deter attacks
Value Proposition Customer Segments
• Seecure is geared to alleviate the inconveniences of calling family and/or friends when you feel unsafe and quell the fears of assault
• Seecure is geared to providing customers with peace of mind and preventing assaults
InconvenienceFear
Assault Prevention
Peace of Mind
Value Proposition Canvas for Professional Women
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• Age: 25 to 54• Employed: yes• Income: >$60K / household• Phone: iPhone/Android• Residence: metropolitan• Behavior: call loved ones when they feel
unsafe• Routine Situation: walking home from
work• Fear: sexual assault
Customer Archetype
• Age: 25 to 54• Employed: yes• Income: >$60K / household• Phone: iPhone/Android• Residence: suburban• Behavior: call loved ones when they feel
unsafe• Routine Situation: retrieving car from parking
lot• Fear: sexual assault
JenniferTiffany
- 13 -
Sales Strategy
Web Dedicated e-commerce on proprietary website
Platform app store for Apple and Android
PhysicalDirect sales to airport and train station electronics retailers
PhysicalDirect sales to professional service organizations
Web
• Wearable security cameras are a new market
- If consumers are not actively searching, 2-step distribution is unnecessary
• Direct sales to airport / train stations electronics retailers will target travelling professional women
- Target customers feel unsafe in unfamiliar locations
• Direct sales to professional service organizations will target professional women working late
- Target customers cannot leave work at desired time
- Target customers feel unsafe walking home late at night when it is dark
Channels Considerations
Revenue will be derived from sale of camera at $200 and monthly subscription fee at $9.99
Sales will be derived from 4 channels. Our competitors utilize similar channels (dedicated e-commerce, application store, direct sales to real estate agents, and direct sales to nursing on demand services)
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Get Strategy
Awareness
Interest
Consideration
Purchase
• Crowdfunding: 60 day IndieGogo campaign
• Retailer Support: support staff at airport/train station electronics retailers
• Human Resources: discussions with professional service organization HRs
• Influencers: video endorsements from prominent women professionals
Awareness
• Similar Users Targeting: remarketing campaigns for visitors to site and viewers of IndieGogo / influencer videos
• Retailer Demonstrations: support staff demonstrate video at stand in airport/train stations electronics retailers
• Company Communications: HR releases survey to staff gauging interest
Interest
• Retailer Trial: 14 day free trial for airport / train station retailers
• Professional Service Trial: 14 day free trial for professional service organization HR departments
Consideration
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Hypothesis Testing Results
Parameter Hypothesis Results Analysis
Value PropositionSecurity conscious women will prioritize virtual keeper and remote alarm as most important features
Fail; Panic button is thus far most important feature
1) Numerous panic buttons exist in marketplace. Seecure fails to achieve competitive advantage.
2) Absence of algorithm undermines customers’ interest in product
Customer Segment
Security conscious women have pains with respect to mitigating security risks
Pass - Over 50% call their
loved ones when they feel unsafe
- Over 50% share their GPS location
- Over 70% message family and friends upon arrival
1) Customer acknowledged these habits as inconvenient
2) Pains exist with respect to time, money, fear and general wellbeing
Value PropositionSecurity conscious women will see Seecure as alleviating pains associated with mitigating security risks
Fail - Over 50% of customers
acknowledged habits as inconvenient but reasonably effective
1) Pains exist for customers2) Seecure is not an effective pain
reliever for many3) Those who would use Seecure
mostly see it as relieving anxieties instead of effectively deterring assaults
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Hypothesis Testing Results
Parameter Hypothesis Results Analysis
Get Strategy Wearable security cameras are a new market
Pass; customers were unfamiliar with the use of wearable cameras to deter security risks
1) Competitors have not gained market share
2) Prospective customers are unfamiliar with algorithm
3) Limit sales channels4) Reduce customer acquisition costs
RevenueCustomers are willing to pay $200 for hardware and $9.99/month for subscription
Fail; 0 would purchase product
1) Price is elastic with respect to security but interviewees guage price poorly
Sales ChannelAirport/Train Station electronics retailers would be effective channel
Pass; manager at airport electronics retailer indicated interest but suggested demo is required
1) New market suggests that prospective customers need to be guided in product’s application
2) Support staff at retailer is required
• Challenging to discern ‘security conscious professional women’; market may be too small• New York City may not be good market for ‘security conscious professional women’, as people
feel relatively safe • PR and customer backlash may emerge if incidents occur while using the product• Many interviewees refused to use product but indicated they would use product in other
applications (e.g. elderly parents, children aged 6-12, etc)• Algorithm is most valuable feature• Customer discovery feedback suggests we should pivot to other customer segments; we will
explore joggers and law enforcement in separate iterations
Lessons Learned