- Revenue Drivers:
It will be difficult at first to make money because FuturePay will be a free app. Revenues will be made off of advertisements for the app which will be posted to Facebook, twitter, and instagram. The bars in midtown that use my service will have to pay a small fee which is the main revenue driver, as well as the consumers of the app.
- What's the next thing your customers want?
The next thing my customers will want is to be able to pay for drinks through the app and open/close their bar tab. This will de-crowd the bar area and make it much easier to get drinks.
- Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?
This will greatly enhance the user experience because not only to students get annoyed by the long bar lines in mid town they also get annoyed with how long it takes to get the attention of a bar tender. This process could be much more efficient if it was all done on the app.
BarEye is the most similar app to my service. It was created in 2013, this app allows you to buy drinks and "send" them to your friends. The concept is similar but it is less of a service than my app would be. However, you are able to purchase drinks at partnering bars through the app which is the next service I would provide next to the ability to pay cover. If I teamed up with BarEye this could make for a really successful idea. According to Techcrunch.com, " you can buy drinks for friends through Facebook or to anyone checked in to a BarEye bar. You can also buy yourself a drink to avoid opening a tab or waiting for service. Just select the bar and drink, pay with credit card and redeem with the bartender." Customer reviews for this app were generally very positive. People rated it high because they liked the idea. People only rated it low because of technical difficulties with connecting to the app.
Amy, great job on this blog post! I agree that being able to pay for drinks and open and close your bar tab would be incredibly useful. This would definitely alleviate the crowdedness around the bartenders and speed up the overall wait time from paying for a drink to actually receiving it. In all, great job and I think the upcoming addition to your service would be great! If you have a chance, feel free to check out my blog post for this assignment!
ReplyDeletehttp://ent3003mt.blogspot.com/2016/03/amazon-whisperer.html
Hey Amy,
ReplyDeleteYour post was really interesting, and I really enjoyed reading it. I definitely think that this is an interesting business concept. I am a server at a restaurant, so the idea of this becoming an app is really cool. I definitely think that there is a lot that goes into this kind of app, and it would be hard for you to make money off of this as well as the restaurant. I think it’s a really innovative idea!
Check out my post if you’re interested!
http://wallacestage.blogspot.com/2016/03/amazon-whisperer.html