Project by: Michael Ligier, Lorraine Leung, Christine Yang, Jack Xu
High Concept Statement:
Challenge friends to complete fun and meaningful tasks!
Need or Demand:
In the past few years, online challenges have become more and more viral. Some of them are simply for fun such as the Running Man or Mannequin Challenges, while others have the potential to spark change among a group of people. The ALS Ice Bucket challenge for example was able to raise a total of $115 million which fueled the major progress the organization has made in the past year. The reason these challenges work is because of the interactive and competitive component between friends. However, all of these challenges are isolated incidents at this point and there’s no place to consolidate them into one application which can be both fun and impactful. Essentially, the power of the challenge has immense potential which has not yet been effectively tapped in to.
Product / Service / Solution:
Crown is a social networking application that allows friends to challenge one another and make their challenges private or public. It could be something from eating seven crackers in a minute to writing a kind letter and giving it to a stranger. The idea is that there is immense user engagement when it comes to challenges which can be both extremely fun for the users and beneficial to organizations which would be able to post challenges as well. The goal of the app is to make challenging someone and completing challenges as seamless and simple as possible in order to put the focus on the challenge and participants themselves. Finally, a specific part of the application called Crown Impact will be focused on bringing the virality of challenges to nonprofit organizations to help them improve going forward. Whether it’s simply to spread awareness or to actually raise money, this section will be focused on people completing challenges that benefit a specific cause or organization.
There are two main value propositions for Crown associated with the two main functions of the application. First, we want people to be able to engage more directly with their friends. Oftentimes, social media results in a faceless conversation between two people. While companies such as Snapchat have cut into this problem a little bit with easy video and photo sharing, it still isn’t as interactive as it could be. This is the next step in that process where people will be able to challenge someone, see them complete the challenge, and respond to their challenges. In effect, it’s like the people are completing tasks together even though they’re not physically together. Secondly, in the Crown Impact track, the main value proposition is for people to positively impact organizations that are trying to change the world. For example, nonprofit organizations can create challenges for individuals which will also give them the option to donate to the organization itself. By harnessing the power of engaging content like this, charities will be able to raise more money in the future in a more viral manner.
What’s great about this idea is that there are no strong direct competitors. Indirect competitors are other social networking sites like Facebook for example where these challenges have been viral in the past, however, since these challenges have typically been isolated incidents, it’s much more compelling for someone to join the Crown platform to be able to engage with others in a much more meaningful way.
The revenue model for Crown is what’s particularly interesting. Snapchat has been so successful with advertising because its users are eager to advertise for them. Users constantly play around with different Snapchat filters which makes the value proposition for companies who want to advertise very clear. In a similar way, Crown taps into much more engaged advertising. For example, a company like Chipotle can post a challenge to eat a specific type of burrito in under 2 minutes. People will then be able to take the challenge and engage on a much deeper level with the company, while also directly increasing sales for the business itself. This sort of engaging advertising can fetch a much higher price per impression than traditional advertising-based companies such as Facebook and Google.