SWAKE - Swipe-to-take
Start-Up Projekt - Wintersemester 2015/2016
SWAKE is an Android and iOS smartphone app which provides a one-stop online platform for bars, clubs and pubs to offer their redeemable coupons and discounts to their customers, in exchange for affordable monthly fee. Businesses can easily upload their offering and customize the way it is presented by inputting desired coupon text, picture or logo, volume, validity time, etc.
To start using SWAKE customers simply need to download and install the app on their device. Sign-up and registration are not required. Coupons and their outstanding number are displayed on user interface and each user can select a coupon of interest and "swake" (redeem) it. Swaked coupons receive a personal code and get moved to customer's basket for a limited validity period of time. During this time coupon with code can be presented at the selected bar and exchanged for the desired goody or discount.
Bars have been using flyers as a marketing tool for many decades now. In today's digital era of transparency, efficiency and eco-friendliness, they are getting increasingly frustrated with many downsides of flyers such as getting little to no feedback about the success of their offering, increasing costs associated with covering wider areas and pressure from environmental groups to drop them - to name a few.
Profile of the modern customer has also changed immensely during this time - they are now more effective, busier and very environmentally-aware. Only a very small fraction of them ends up redeeming the flyer-coupon. However, huge majority is irritated by flyers in general and think that they produce unnecessary waste.
For our core target group - urban, outgoing millennials, there is currently no appropriate mobile app for overviewing the coupons offering for their surrounding bars, clubs and pubs scene. While there is a high number of apps offering various coupons, their diverse offering is quite random and intended for any demographics.
SWAKE solves problems for bars by offering them a cost- and time-effective way to track the performance of their coupon-actions and advertise to their most valuable customers anywhere. Smaller and less known businesses can now get on the radar of their potential customers by providing unique, cool and competitive coupons and discounts.
Our customers benefit from having a completely digital platform tailored exclusively to their group and interests. The app also offers an option to filter the available offers regionally and simply check spontaneously the best offers in your immediate vicinity. Furthermore, for some local communities we offer custom language filters.
Business model and strategy
In our subscription model, businesses purchase certain number of slots for their coupons on the platform. Our packages (bronze, silver and gold) vary in price based on their length. We also offer an option to highlight selected offers for additional payment, which would be trending on the top of the page.
We are looking to capture this niche but still significant part of the rapidly growing USD 5.4 billion mobile coupon market.
Our ambitious strategy for the next few years includes Proof-of-Concept run in Vienna in year 1, expansion into all major Austrian cities in year 2, attacking the DACH region in year 3 and maintaining strong presence in DACH as well as entering selected new EU capitols in year 4.
2241 Schönkirchen Reyersdorf
Martin Finkenzeller, M.Eng.