Freemium Business Model
We chose to work as a freemium business model as this would be a new concept for our customers and with this model they would have the option to try out the app before upgrading to a premium plan. A new customer will have a limit of 50 items that can be added on the app, after which they will have to pay a monthly subscription fee of $3.99.
Customer Data Monetization
We also plan to sell the data to our partner grocery and supermarket chains whose ads would be shown on our application in the form of banners and pop up ads. The data collected by Spoiler Alert Inc. will improve our partners’ advertising efficiency as we would be telling them when and what to advertise to customers based on the customer’s actual needs at any particular moment. For example, a customer’s bread expires in 4 days, this data would be stored on our servers, and then sent to our partner grocery store. Knowing that after 4 days this specific customer will need bread, the grocery store can send bread advertisements and coupons to this customer, who is most likely to make a purchase.
Value Proposition
We at Spoiler Alert Inc. believe in saying that, ‘click a picture and let us remind you of your food expiring soon’. We strive to make this app your day to day reminder application for all your food products. Based on our competition’s customer feedback and our research in this industry we found that a serious technological update was due in this market, that led us to incorporate the OCR technology into the phone’s built in camera. This would make it totally hassle free for the user to enter the expiry date of a product into the app. Additionally, the customer will have access to a wide pool of coupons directed to their usage. The application will also have links to our partnered blogs which will suggest the user of all the delicious recipes that can be made at home. And all of this with a motive to reduce food waste in America.