Feedback / Reflection- Pitch No 1: Reflecting is part of perfecting and my first elevator pitch gave me plenty of room to do this. Based on viewer feedback the most important aspects that stood out to me had to do with not being comfortable. I appeared as unnatural, my eye contact was not 100% engaging the audience and my conversation was bulleted. To improve I have refined my pitch and hopefully my audience will agree.
Feedback / Changes Made -Pitch No. 1: Instead of listing the features of the app, I introduced a few new statistics. I found that comparing similar advertising costs would provide a realistic image for how my concept brings competitive advantages. I mentioned that radio advertising is sold in 30 to 60 second spots costing businesses and restaurants as little as $3 or as much as $500 per ad and air time. Another comparison I mention is cost per call on advertising from a call list. Though many restaurants do not need this as a metric, the length of time a host may spend on the phone to take a reservation or to-go order can back up the waiting process for un- attended customers coming in looking to be seated at a table. In this process of evaluating my pitch, I decided to change my advertising incentive for partnering "hosts" or what are considered restaurants in my concept. I found that charging $2.00 per reservation and offering this service as an on demand referral app for restaurants would leverage my app from a different angle. Now, when a subscriber or ( individual ) makes a reservation, $2.00 of the dining bill pays for the referral by the host which begins the customers subscription. Worst case scenario, in this design the reservation cancels and the $2.00 pays for a new advertising channel for the next dinner special inviting the individual back. Without this tool, a restaurant may never be introduced to this customer.
Watch Elevator Pitch No. 2 - Click Here
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