Netraffle 1 Page Business Plan
Overview
Netraffle has a clear business objective to give the customer a chance to win the hottest new products such as cell phones by purchasing raffle entries. The winner will receive their product with no further charges such as taxes or shipping. Each raffle will also include a $100 contribution to any legitimate charity of their choice. These products will be determined through Internet research and will change as the customer preferences do. When the customer creates their account a question concerning products they would like to see can also be included.
The Business Objectives
When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to hold as many raffles as possible. Customer acquisition is considered to be the critical activity and we are seeking to grow the number of customers. We understand that customer growth could be at the expense of profitability, and that there is a cost associated with customer acquisition. Our long term objective is to award as many prizes as possible and give something back while making money at the same time.
The Customer
Netraffle has been created to offer customers the chance to win hot new products they want for the cost of a raffle ticket. A portion of that money goes to charity too so their money is not wasted even if they don't win the prize.
The Value Proposition
Netraffle is uniquely positioned to deliver value to Sweepstakes players. "Netraffle will Give customers chance to win products by purchasing entries while helping others." In order to be deliver on this value proposition, we donate $100 per drawing to the winner's charity of choice. This aspect is a competitive advantage to our business.
Competitors
I believe this is a unique, new concept that does not have direct competitors. The closest competition in my opinion is penny auction sites. With those sites you pay for each bid, could use countless bids trying to win the item and still pay the price for the bids, the product and shipping. Once you purchase a raffle entry if you win the product is sent free of taxes and shipping.
Key Strategies
The key strategies are to hold as many raffles as possible. Using affiliates to sell entries for commission is the intended method for selling these entries. If customers would like to purchase multiple entries, bundles will be sold with 10% bonus entries free to encourage larger purchases.
Raffles will be subject to cancellation if 90% of entries not sold within 14 days.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: Not have cancelled raffles increase the number of raffles 10% monthly sell entry bundles rather than single entries
About this document
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This document was created by Jennifer of Netraffle using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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