Questions

What is the best way to validate and monetize this idea?

A platform where brands can browse hospitality spaces and send a booking request to have their products featured in the area or book the area for a product demo/talk etc. In a way it's similar to Appear Here but not limited to retail stores Spaces we're targeting: spas, coworking spaces, coliving spaces, vacation rentals.

4answers

Validation and monetization - two great questions.
See some great tips on how to do validation in this answer: https://clarity.fm/questions/6423/how-do-you-do-market-research (happy to help you plan your specific validation process)
Regarding monetization - the most suitable business models in this case would be commission / intermediate fee taken from either the advertisers or the owners of the advertising spaces (spas, coworking spaces) or both of them.
Good luck
I've successfully helped over 350 entrepreneurs, startups and businesses, and I would be happy to help you. After scheduling a call, please send me some background information so that I can prepare in advance - thus giving you maximum value for your money. Take a look at the great reviews I’ve received: https://clarity.fm/assafben-david


Answered a month ago

Offer your services to an hospitality chain and create a proof of concept at one of their locations. A key element in this equation would be an application (ideally a web app) enabling the target hospitality chain to monitor brand booking requests. Successful proof of concept would then lead to stage 2, meaning scaling the strategy to more locations of the target hospitality chain.

Monetizing the business model could involve fixed monthly fees to use the application, or a royalty based model factoring in the proceeds from brands seeking to advertise.

Keep in mind that many hospitality chains are making a substantial part of their turnover from side businesses that you can help them market amongst their own clientele. For instance an upmarket hotel could make up to 1/3 of its turnover from its in-house restaurants, spas, etc.


Answered a month ago

We at Celitech (www.celitech.com) have been working with hospitality partners to offer cellular data for travelers and have seen similar concepts but on long-term agreement basis, which might be restricting this market. The platform suggested here, offering short-term space rentals for product ads or demo's can create many new opportunities for a wider variety of businesses who'd find such concept more feasible. To validate this concept, you may want to build a minimum-viable-product which can be a basic website that you can test with targeted customers and space providers. Besides the website and its UX, you need to make sure that whatever ad/demo material your customer wants to show is totally compatible with the space where it'll be used. Once you have a couple "wins" you can expand, and while initially the service trial can be free, once you prove it is viable for both ends (the advertising customer & the space provider) then you may consider charging a commission on the space rental fees. Additional services you can offer later to your customers are ad/banner/demo designs & prints that would fit your listed spaces.


Answered 21 days ago

Here are few tips, I’d recommend reading this!
1. Find a Profitable Niche (That You Care About)
2. Leverage Your Strengths and Outsource Your Weaknesses
3. Create an Early Feedback Group
4. Have One-on-One Conversations With Your Target Market
5. Develop a Competitive Advantage
6. Grow Your Email List
7. Build a Proof of Concept
8. Launch and Get Pre-Orders From Your Email List
9. Continue Building and Tweaking With Feedback


Answered 17 days ago

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