Smart Trip Platform is an ecosystem that allows users to plan trips, save money and become part of dynamic community. The platform will not only provide a wide range of services - from boat rentals to safari - but will also act as a knowledge base. Smart Trip Platform aims to create a new model of travel: minimum time spent on research and maximum authentic experiences. The platform will also serve as a social network, where users will share visual and text content. Main parts of an ecosystem:
An MVP version of the platform is available on project’s website.
All services will be based on a smart contract: once a user booked a service, money deposited from individual cryptocurrency wallet; once the service been delivered, the money are paid to the service provider. All internal payments will be carried in TripCash (TASH). The platform will earn a small commission on each transaction. Long-term plan is to partner with several banks and to issue TripCash debit cards, which will allow using crypto funds in the wallet to pay for online and offline purchases.
Main revenue sources are:
All revenues will be accumulated in the wallet of platform’s Financial Center and used for further development and promotion of the project.
The platform aims at different target groups, so promotion and acquisition strategies will vary depending on each audience.
The WP states that 15% of funds raised will be transferred to marketing activities, even if hard cap won’t be reached.
Social media profiles were created recently and team is active on them, numbers of followers are low.
Team members have varied experiences in business development, financial modeling and analysis, computer science and engineering, marketing and communications, design. There are two business development officers responsible for Europe and Middle East markets. Advisors are experts in ICO consulting, cryptocurrency and blockchain technological and legal aspects.
The WP has detailed overview of global travel industry and its shortcomings. Since the project focuses mainly on independent travelers and small/medium businesses, the limitations are reviewed from perspective of these groups. The overall problem is that only a small number of countries get the biggest share of international visitors. Major cities attract tourists at the expense of less promoted regions where small-scale travel service providers suffer financially.
Problems faced by tourists:
Problems faced by local ravel service providers:
Smart Trip Platform addresses these problems via its ecosystem and network which connects individual travelers and local businesses directly.
The potential of the market is huge and Smart Trip Platform is developing a product with relevant features, according to analysts from expert-coin rating. Digital technologies will provide a large share of growth in the industry. Even if Smart Trip Platform attains 0.01% of global market share, it will constitute $760M (as stated in the WP).
To determine its target markets and audiences the company researched country rankings in terms of outbound and inbound tourist expenditure. This resulted in clear segmentation of audiences by geo location. The first core group of the Smart Trip target markets includes China, South Korea, Russia, U.S.A., Canada, Australia, Germany, France, UK and Italy. The second core target group includes those countries that receive most international tourists: South-East Asia, Spain, France, Germany, Italy, UK), U.S.A. and China. At the second stage of platform development the third target group will be added: Latin America and the rest of Europe.
Customer segmentation includes two large groups: individual travelers and owners of local travel businesses (small and medium).
The WP doesn’t have a competitor analysis. The growth factors are presented instead: vast target audience, marketability, platform’s features, partnerships, scalability, vibrant community.
The travel market is very saturated and it utilizes technological advances in full. There are direct competitors of the Smart Trip Platform already, like Cool Cousin, Winding Tree, CryptoCribs to name just a few. The main competitive advantage of Smart Trips Platform, according to analysts from expert-coin rating, is in its multifunctional nature. The platform is an ecosystem with numerous features aims at both travelers and travel service business owners. Plus, the platform targets a niche, which was overlooked by many participants of the industry: individual travelers of a certain age range and local travel businesses.
Strengths: MVP is available. The WP describes financial flows and key financial features of the platform (reserve fund, financial center and others). The WP has marketing strategy for different target groups. Clear strategy regarding geo target markets.
Weaknesses: no competitor analysis. Team profiles should be added to the WP, more advisors needed. Social media following should be gained more quicker, according to analysts from expert-coin rating.