Chicago startup Spare to Share has validated our model and we are serving our initial Chicago customers. The early results are encouraging! As a further part of our validation, we are currently undergoing some high-level A/B market testing and we could use your help. In return, we will provide you with a free service; we’ll organize your stuff for you! Even if you don’t want to share. Ready to get started? Jump to ‘The Offer’ below.
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Still here? Ok. Our goal is to see if – in addition to our primary customer and user acquisition plan - there is also a market for stand-alone users of the Spare to Share item cataloguing & sharing service.
How we got here (aka Explain your model, Sir!)
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We reached this point because every day we see random users signing up for Spare to Share on our website or via the iPhone app or Android app. How they find us, we don’t exactly know (ya… I should probably figure that out). But people sign up from all regions of the US, as well as many locations in Europe. BUT, a key premise for Spare to Share is that we operate within closed, trusted groups. So it’s a classic Catch-22 in that people love the idea of sharing, so they find us and register. And then I have to send them a personal email saying that because they are not in an existing group they won’t be able to share anything. #Frustrating!
Wait! You probably need more background. Spare to Share is a sharing and collaboration network for people within closed, trusted groups. Our initial market is residential & commercial buildings. We sell our service as a ‘community-building amenity’ to property managers, building owners, condo associations & small businesses. They then offer it to their residents/employees as a way to:
- Save money when looking for things (borrow, rent or buy from neighbors & coworkers)
- Make money (or goodwill) with idle stuff
- Organize and keep track of your stuff (who did I lend my 'Improving Your Memory' book to?...)
- Get to know your neighbors and co-workers
- Help the earth by reusing existing products
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So why would a property manager pay for this service? Because residents who know other residents tend to stay in the building longer. Turnover is EXPENSIVE so anything they can do to reduce churn is in their interest. Additionally these happier, more connected residents require less support, provide more positive social media comments & word of mouth, and bring their friends to the building making it easier to convert new residents. And they provide higher building evaluations. Does this lead to increased bonuses for property managers? Do the Cubs consider 2015 a rebuilding year? Obviously yes to both.
This method of selling to the property managers is our primary way of acquiring users. Let’s call this our “A” in the A/B testing scenario. And good news, it is working! But this process kind of limits us from broad, viral growth because we are throttled by the closed community of residents within the buildings we sell. Double-edged sword; closed network makes people more comfortable with the concept but also limits the viral growth needed for a peer-to-peer marketplace to thrive. Hmmmm…
The Offer
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This brings me to the “B” test, our offer, and our ‘ask’. We need more user feedback and activity. We have a cool service available now where people can easily organize the stuff that is sitting around their house, office, etc. This is something that we will charge for in the future, but for a limited time our ‘Data Elves’ will pause their cookie making and will load and organize your data for you for free! All you need to do is register using this link, then just upload a photo of an entire shelf of stuff. As long as the resolution is clear enough for us to zoom in and ID the item – and it is a standard item – we will get the image and description for you.
We’re not talking about the canoe you hand-carved from the oak tree that your Grandpa planted during the depression! We’re talking about typical mass produced items that can be easily found with a Google search that a volunteer – excuse me, Data Elf – could do.
Or, use our mobile app to upload your items yourself by scanning the bar codes if they are available, like on DVD’s, video games, even CD’s and books. Scanning with the mobile app is actually pretty fun and worth a try.
Then we’ll load the items for you – up to 100 with this promotion – and you will have an organized list of your stuff that is suitable for downloading to a spreadsheet, sending to your insurance company for rental insurance, or just to look at and admire your own awesomeness for accumulating these dust-covered treasures!
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You can end it here, or you can share with your friends, maybe make some money renting with neighbors, or decide to sell to the world. Your call, we can help.
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In addition to usage we are also looking for feedback, resources, sales help, brand ambassadors, social media help, etc.! We just recently won the Reader’s Choice for Hottest Showcasing Startup at the 1776 Challenge Cup Chicago and are members of the amazing Points of Light Civic Accelerator. Spare to Share is the only startup representing Chi in this national program. Get on board this train! Follow us on Twitter and Like us on Facebook.
Thanks and we hope to see you soon on Spare to Share!
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