When should I pivot?

#1

Post by Apane » Sun, Feb 19, 2017, 6:18 PM UTC

For example, I've built http://www.fastveneus.com as a way to connect diners to unique/discounted set-menu meals at their favourite restaurants. However, it's strictly a web app, and the bookings have been less than promising. Is the web-app dead? Should I invest in turning it into a mobile app?

Or is it a business model issue? E.g. that people just don't want to book and pre-pay for a meal when dining in at a restaurant, even if it's discounted through fastvenues.com

Re: When should I pivot?

#2

Post by benologist » Sun, Feb 19, 2017, 6:22 PM UTC

You should pivot if you're tired of pursuing customers, but if you've only been coding and waiting for users to spontaneously show up then try a new tactic.

Re: When should I pivot?

#3

Post by gamechangr » Sun, Feb 19, 2017, 6:22 PM UTC

Hard truth - I think it's a mix of both. Move on.

Ease of use is everything. Consumers don't want to have to agree to ANYTHING, especially if its the value is limited to one time use.

If they were considering signing up, it would HAVE TO BE a mobile app.

Re: When should I pivot?

#4

Post by rubinho_ » Sun, Feb 19, 2017, 6:25 PM UTC

I think you're missing one option; could it be that people don't know it exists? Maybe you could try marketing the product extensively before pivoting to another platform.

Good luck with the site!

PS: the first URL in your post is spelled incorrectly (fasveneus.com instead of fastvenues.com)

Re: When should I pivot?

#5

Post by Apane » Sun, Feb 19, 2017, 7:08 PM UTC

benologist wrote: post #2

You should pivot if you're tired of pursuing customers, but if you've only been coding and waiting for users to spontaneously show up then try a new tactic.

The product has been built for 6 months, and we've been pursuing customers, hiring and firing sales reps, it's been a very tough battle. We've signed up 10 real restaurants, that are able to process payments and orders/bookings, but our marketing efforts using Linkedin ads, facebook etc... are un-promising. Out of 1000 targeted visitors not one has converted to a booking. You can even make a booking WITHOUT an account, by checking out as a guest, still nothing. We need advice. What's wrong with the product? Why would or wouldn't you use it to find and book a unique/discounted meal at a local restaurant.

Re: When should I pivot?

#6

Post by Apane » Sun, Feb 19, 2017, 7:09 PM UTC

gamechangr wrote: post #3

Hard truth - I think it's a mix of both. Move on. Ease of use is everything. Consumers don't want to have to agree to ANYTHING, especially if its the value is limited to one time use. If they were considering signing up, it would HAVE TO BE a mobile app.

You can even make a booking WITHOUT an account, by checking out as a guest, still nothing. We need advice. What's wrong with the product? Why would or wouldn't you use it to find and book a unique/discounted meal at a local restaurant. You would use UberEats I'm sure for convienient delivery, or JustEat for take-out orders, why not use Fastvenues.com for the dine-in experience?

Re: When should I pivot?

#7

Post by Apane » Sun, Feb 19, 2017, 7:12 PM UTC

rubinho_ wrote: post #4

I think you're missing one option; could it be that people don't know it exists? Maybe you could try marketing the product extensively before pivoting to another platform. Good luck with the site! PS: the first URL in your post is spelled incorrectly (fasveneus.com instead of fastvenues.com)

Thanks, fixed the link.

We have done some marketing via LinkedIn ad's, facebook ad's, even paying for influencial foodies, who have large followings on instagram to try a complimentary meal/booking using fastvenues.com and reviewing it, and even with a really positive review, not one real conversion. What's wrong with the product? Why or why wouldn't you use Fastvenues.com to book/reserve a unique/discounted meal at a great local restaurant?

Re: When should I pivot?

#8

Post by benologist » Sun, Feb 19, 2017, 7:15 PM UTC

Apane wrote: post #5

benologist wrote: post #2

You should pivot if you're tired of pursuing customers, but if you've only been coding and waiting for users to spontaneously show up then try a new tactic.

The product has been built for 6 months, and we've been pursuing customers, hiring and firing sales reps, it's been a very tough battle. We've signed up 10 real restaurants, that are able to process payments and orders/bookings, but our marketing efforts using Linkedin ads, facebook etc... are un-promising. Out of 1000 targeted visitors not one has converted to a booking. You can even make a booking WITHOUT an accoun…

It sounds like you've put the effort into testing the idea.

Those 10 restaurants could show you numbers for how influential a discount on a meal is. If we are trying to save we avoid restaurants, maybe a small discount after you've committed to going out isn't very important or not a factor at all.

Re: When should I pivot?

#9

Post by jayjay1010 » Sun, Feb 19, 2017, 7:40 PM UTC

those discounts look expensive. go get some real deals on there and see if things change, even if you give it away to see if its the prices your offeirng are too high

Re: When should I pivot?

#10

Post by Apane » Sun, Feb 19, 2017, 9:15 PM UTC

jayjay1010 wrote: post #9

those discounts look expensive. go get some real deals on there and see if things change, even if you give it away to see if its the prices your offeirng are too high

so the conviencince of booking online, and reserving all in one shot and not having to take out your wallet at the restaurant, isn't enough? we'd need a really compelling discount to make people take action and find real value? What kind of discounts are we talking, 35-50%? Or in other words, what would it have to be, for you to use it? IF you would use it, or maybe you wouldn't, and if so, why?