eduson.tv - from $0 to $400 million in 1.5 years
Post on 18-Oct-2014
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A successful serial entrepreneur (Peter Kutis, Onetwotrip CEO) shares his story of growing the business and gives advice to other startup founders.TRANSCRIPT
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Peter Kutis
Serial Entrepreneur, founder and CEO OneTwoTrip
From $0 to $400 million
gross sales in 1.5 yearsCase study from Eduson.tv course
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make your business
more effective
Automate operations and
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For internet projects, many operations can should be
automated. The software on OneTwoTrip helps to
minimize the amount of support necessary from staff,
using an automated system to answer many user
questions.
While the entire operating team consists of just 15
people, 5,000 tickets are sold every day.
automate operations and
make your business
more effective
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Marketing should be effective -
concentrate on advertising channels
with maximal conversion rates
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marketing should be effective -
OneTwoTrip advertises itself primarily though meta-
searches. «Ineffective» searches are cut off, so as
not pay for users who simply want to find prices for
travel to certain destinations, but not buy tickets.
These destinations can only be viewed on the site
itself.
concentrate on advertising channels
with maximal conversion rates
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of the product
making your pricing policy
intelligible - justify the cost
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Making your pricing policy
OneTwoTrip shows its visitors ratings of possible
flights, displaying the ticket price alongside a number
of factors (age of aircraft, frequency of delays,
quality of service, etc.).
After seeing these ratings, users sometimes choose
more expensive flights because they want to be
certain they’ll arrive on time.
intelligible - justify the cost
of the product
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will value the simplicity
Make your loyalty programme
clear, and clients
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make your loyalty programme
!The site offers its clients reward points equal to 1%
of the purchase for any booking made directly on
OneTwoTrip. These points can be used to buy any
new ticket at any time. Between March and April
2013, OneTwoTrip paid users the equivalent of
90,000 euros, while a major competitor with a less
clear loyalty programme paid 200,000 euros
throughout the existence of the programme.
clear, and clients
will value the simplicity
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through partner programmes
Expand your audience
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Expand your audience
Some Russians prefer to buy their tickets offline. To
reach this audience, OneTwoTrip launched a
partnership with the «Svyaznoy» company.
15-17% of OneTwoTrip’s sales are conducted through
Svyaznoy’s wide network of retail shops.
through partner programmes
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with higher salaries
Motivate your employees with stock options,
and competitors won’t entice them
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motivate your employees with stock options,
Members of the OneTwoTrip team care about the
company’s success because they have a personal
share in it. This ensures that key staff won’t leave for
competitors.
and competitors won’t entice them
with higher salaries
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first and foremost
set priorities -
profitable features
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set priorities -
The main principle guiding your priorities should be
impact on revenue. If a given feature doesn’t directly
affect revenue, then set aside its development.
profitable features
first and foremost
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for your clients
think about convenience
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think about convenience
During the holiday rush when tickets are hard to come
buy, booking tickets at different prices id vital. When
you purchase multiple tickets, the OneTwoTrip system
selects the sorest fares first, and then adds more
expensive seats. Competitors, however, simply say that
there aren’t enough tickets available at the lower
price, and that the order can’t be completed.
for your clients
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show the total price
be more honest than your competitors -
immediately
$50 thousand
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be more honest than your competitors -
On the OneTwoTrip site, a user can choose to
immediately view either the final price with taxes or
only the airline fare. This allows the company to know
exactly how much it earns on each ticket, so it can
offer discounts to its customers.
show the total price
immediately
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on the future
Aim to earn online ‘here and now’ -
don’t count on profits coming sometime
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Aim to earn online ‘here and now’ -
A startup should be profitable and support itself
today. Don’t burn investors’ money and work for the
future (by trying to capture a larger market share,
etc.).
don’t count on profits coming sometime
in the future
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take a course
today!