Business Model Canvas

Generation Z and Millennials who have poor time management and busy schedules but loves to attend events and meet new people. These groups are our target audiences as they are of a similar age group with us thus we would know what appeals to them and how to help them. Through shared experiences, we were able to put ourselves in their shoes and think of the functions that might be the most useful for them while planning out an event and socialising.

Through a well-written personalised email, users will feel more appreciated to receive an email that addresses them by their names. It also ensures a more positive communication experience while showing that we make an effort to build a bond with the customers which increases brand loyalty and reputation.

Embracing technological empathy allows our users to experience and interact with different forms of technology such as our application's 24/7 Artificial Intelligence (AI) chatbot that can address basic questions and assist them at any time of the day. Users will feel satisfied and happy with the service as if they were talking to an actual human. This chatbot is also able to be personalised with any name the user wants it to have and the user can control it through their voice.

Through creative and good reminders, we are able to retain users' attention while ensuring that they receive personalised notifications about their upcoming events and messages from their fellow new friends on the application.

Besides our 24 hours AI chatbot that is able to provide immediate assistance, there is also a live agent to address any issues that the users might have in any case that the AI chatbot is unable to solve their problems. This helps to put the users' minds at ease as they can be assured that their issues within the application will be addressed.

Timely has various features that were carefully planned by our group. Starting from the first one, our application syncs all of a user's schedules on the application, like Google, iPhone, or Android calendar. This adds value to our users by enabling them to view all sorts of schedules on one platform.

Next, through our AI function, our application can scan their synchronised calendars for the application to suggest suitable events that users can make it for. This reduces users' need to search for events and filter out the ones that they are unable to attend, which saves time and effort and helps with their bad time management.

Our application also has a chat function to make new friends, which gives our users a chance to widen their social circle. The application will show a user's interest in terms of events so that everyone can find a common topic of interest and make plans to attend an event together if they are willing. This satisfies a user's need to make new friends and socialising.

Last but not least, our application allows users to experience different technological forms such as facial recognition, AI chatbot, and voice recognition. When they sign up, we will require them to scan their face and say a few words for the system to recognise their facial and voice recognition so that it can personalise their experience. With such unique features, many users will be attracted to use our application.

We chose platform business as our application serves as a business platform for events to collaborate with us to promote their event on our application. At the same time, our application helps users to be able to network with others.

Through curating and personalising user's preference & budget, we are able to provide users with unique experiences which attracts them and make them more inclined to use our application to meet their needs. With more users using our application, we will be able to profit from that and further improve our application.

Through the suggestions of suitable events, this benefits both the users and the event organisers. Users will be able to look for a variety of events through our application while event organisers are able to outreach to a wider audience.

(Imke 2019)

Social Media:

Through social media platforms such as Instagram, Facebook, Youtube and more, we will be able to reach out to a large group of people through the use of easily accessible technology. This makes it feasible and easy for our target market as they are working people who have little time available. Hence, the easy accessibility to their phones and social media platforms make it a great advertising platform where they can view it as and when they want. Additionally, there is an increasing number of people using social media platforms. This is great as social media platforms have the ability to release advertisement posts or videos as well. Especially since our target market is busy working people, connecting with them virtually would be most accessible and efficient.

Search Engine Marketing:

Some examples of this method include Google, Bing and Yahoo, where they allow people to use their search bar to search for all kinds of content. This is very useful as search engine proves to be able to simplify and make it easier for our target market to search for what they need and receive answers. This method uses high-frequency keywords and metatags to make the words rank high on searches. Through the capability of this method, we will be able to increase our application's reputation and profile and reach out to people who are looking for a convenient way of sourcing and booking events. This, in turn, helps us make a profit.

• Development and test runs

When developing the application, it must go through countless stages of testing and development. This process takes a long time, requires a lot of resources, and is costly.

• Constant maintenance

To ensure the satisfaction of our consumers and attract more users, we must ensure that the application is constantly maintained for Timely to function smoothly. Services such as functional, administrative, IT (e.g. bug testing), and infrastructure requires manpower and the right technology which adds up to a lot of monetary resources.

• Copyright fee of the application name

• Publishing fee

On App Store and Google Pay for users to gain easy access to as they are able to download it into their electronic devices

• Designing of the application

This is a one time process hence a one time expense unless subsequent updates on the design is needed

• Marketing & Publicity

The marketing and publicity of our application include advertising campaigns, sales promotion, and distribution channels.

• Updating and improvements

The software updates and improvements such as the addition of new features or improved features to enhance users experience and for Timely to be the best version it can be.

Revenue streams are the various sources from which the business earn money from the provision of services.

Pop-up advertisements:

They are easily viewed through various platforms such as games and social media platforms. Users would be attracted to the advertisements if it is attractive and interactive such as good visuals of our application and having a 'taste' of how our application functions through the advertisements. This may make the users more inclined to click on the advertisement and being redirected to download our application. By doing so, it would increase our profit.

Data Monetisation:

This is a process that involves the collection and transferring of users' data. These data do not include any personal particulars that will violate the Personal Data Protection Act. The users' data is collected anonymously and then transferred to data collectors such as event companies. Companies are interested in getting these data because it reveals information about these users and allows them to improve their products or services for the better and to attract more users.

Commission Fees:

Event organisers who list their events on our application will have to pay commission fees to do so. This will help to boost our revenue especially if we are able to collaborate with many event organisers. Event organisers would want to list their events so as to reach out to a wider market segment which will help to increase their bookings.

Customer feedback helps to improve customer retention, it helps to determine whether users are satisfied with the services and detect areas of improvement from their feedback. Customers will also feel that they are part of the creation process of the application as we heed their feedbacks and improve on the application which ultimately benefits them.