🎫what's buddymoon?

Buddymoon by Travelxp is an exclusive group trip for the new-age solo traveler who desires curated travel experiences with like-minded people and immersive learning pursuits. Every Buddymoon is curated to include hyperlocal learning sessions over a few days with all the meals and accommodation needs covered.

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Imagine a weekend escape with 11 fellow adventurers, expertly guided by a trip leader, where you can delve into a unique and exciting passion. Over 3 action-packed days, Buddymoon offers curated getaways in stunning locations across India.

Currently, we have 3 offerings.

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All trips are priced between INR 20-25K depending on seasonality and experience

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🤔what do our users think?

• people were from different backgrounds yet felt like someone I'd get along quite well
• perfect intensity of fun, bonding, and learning
• extremely well curated
• I did not feel out of place at all, everyone was welcoming and fun
• even though it was a hobby activity, the learning experience was next-level
• I didn't meet strangers here, these were just friends that I hadn't met earlier
• I'm so glad I signed up for this, the learning experience was top notch
• vibe check done right by travelxp, I'm going to stay in touch with all these people
• the learning sessions could be spread out to more days
• not a lot of time to relax
• price is a bit expensive for 3 days
• don’t want to wake up before 9 on a trip​
• its difficult to meet people who geek out about the various hobbies but I met all of them here
• preferential activities are usually put up for a vote when it’s not pre-decided so I didn’t have to think about all that
• it was easier to go since the trip was on a weekend

👩🏽‍🦱 who are we targeting?

Atul

Atul is a young professional in his late 20s, likely working a demanding job. He seeks to escape the daily grind frequently and has ventured out solo in the past. While Atul enjoys travel, planning trips are usually a hassle. Coordinating schedules with friends proves difficult, and group decisions often lead to disorganized itineraries and expenses usually cross the budget.

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💌Ideal solution for Atul

• Spontaneous getaways: A platform that caters to solo travelers seeking immediate escapes, aligning with his need for breaks from routine.
• Cost-effective adventures: Options that fit within his annual travel budget, avoiding the inflated costs of unorganized group trips.
• Curated experiences: Pre-planned itineraries that eliminate the stress of planning and allow him to focus on enjoying the destination.

David

David, a young professional in his early to late 20s, is constantly seeking new experiences and challenges. While he enjoys his routine, he harbors a strong desire to explore different hobbies and interests. Despite his willingness to commit to new activities, David finds it challenging to enroll in lengthy courses, due to the limited ROI as he’s not looking for a career change. His curiosity is usually catered to by consuming content from professionals and passionate individuals. He values the opportunity to observe and learn from experts.

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💌Ideal Solution for David

• Flexible learning opportunities: Short-term courses or workshops that allow him to explore various hobbies without committing to lengthy programs.
• Access to professionals: Opportunities to interact with experts and passionate individuals in different fields, facilitating hands-on learning experiences.
• Inspiration: Personalized recommendations that align with his interests and inspire him to try new activities.

Khushi​

Khushi, in her mid to late 20s, is a single professional with a penchant for exploration. She dreams of visiting destinations and experiencing activities that are on her bucket list, aiming to tick off items regularly. While Khushi enjoys travel, safety concerns from her parents play a significant role in her decision-making process. So she prefers traveling to familiar destinations with the same group of friends which has become quite restrictive and boring.

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💌Ideal Solution for Khushi

• Tailored experiences: Curated travel packages that align with her bucket-list destinations and experiences, ensuring she doesn't miss out on anything.
• Varied travel companions: Options to travel with different groups of people, allowing her to meet new friends and share experiences.
• Safety assurance: Transparent information and measures to ensure safety during her travels, providing her with peace of mind.

Arjun

Arjun, in his early to mid 30s, is a married professional with a growing family. He values spending quality time with his loved ones and seeks opportunities to explore new destinations. Despite his busy schedule, Arjun finds time for 2-3 trips per year, often seeking destinations and experiences that cater to both adults and children. He feels limited by the lack of options when traveling with his family and desires a more enriching and diverse travel experience.

💌Ideal Solution for Arjun

• Seeking Personal Independence: Arjun desires travel experiences that offer him the freedom to explore and engage in activities independently, without the constraints of family obligations.
• Diverse experiences: Opportunities to explore a variety of destinations and activities, keeping his family engaged and entertained throughout their travels.
• Varied travel companions: Options to travel with different groups of people, allowing him to meet like-minded people and share experiences.

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🫱🏽‍🫲🏼who do we prioritize?

Conclusion: It would be beneficial to focus our efforts on atul, khushi and david

🌍how big is the market?

Total Addressable Market

We could understand the TAM based on the following data and assumptions

1. buddymoon trip frequency: 1.5/year
2. total cost per trip: INR 25000
3. age range: 23-32
4. locations: Tier 1 & 2 cities in India
5. relationship status: single

TAM = Potential customers x total expenditure per customer in a year

Potential customers

Customer using dating apps in India (validates age range, relationship status and locations)

• Currently, dating apps reach 2.2% of India’s total population, with projections of 3.6% by 2024, according to industry surveys.​
• Tinder estimates 25% of users to be in the age range of 24-35

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potential customers = population x dating app penetration x age range filter

= 1.4 billion x 2.2% x 25%

potential customers = 7.7 million

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Potential expenditure

= total cost x annual trip frequency
= 25000 x 1.5

= 37000 INR

TAM = Potential customers x potential yearly expenditure per customer

= 7.7 millionn x ₹37000

TAM = ₹285.9 billion ≈ $3.52 billion USD

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SAM and SOM
Factors affecting SAM are existing competition and willingness of users to travel solo for learning pursuits

There are variants of trips including informal learning and only destination focused trips. Assuming 11% of the users would be willing to travel solo and 5% out of those would be willing to pay a premium on learning.

Factors affecting SOM is the people is awareness of the brand travelxp, variety of trips, dates of trips and leave availability. Internal data suggests a rough number of 3% conversion from SAM to SOM.

Serviceable Available Market (SAM)

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Data:

Solo Travel Willingness: 11% of the total TAM

Learning Focus Premium: Only 5% of those willing to travel solo are interested in paying extra for a learning focus (Assumption based on Internal Data)

Calculation:

SAM = TAM * (Solo Travel Willingness) * (Learning Focus Premium)

SAM (India) = ₹285.9 billion * (11%) * (5%) ≈ ₹1.58 billion

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Serviceable Obtainable Market (SOM)

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Data:

Conversion Rate: 3% conversion from SAM to SOM (assumption based on Internal data)

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Calculation:

SOM (India) = SAM (India) * Conversion Rate

SOM (India) = ₹1.58 billion * (3%) ≈ ₹47.4 million

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😎 why buddymoon? (CVP)

Buddymoon is a trifecta of a curated travel experience built around an immersive hyperlocal learning pursuit with a wholesome community for the new breed of travelers built with love by the world's favorite travel curators. The community, learning pursuits and comfortable travel is central to the vision of Buddymoon.

Marketing Pitch

​Curated community experiences to indulge in your learning pursuits for the new breed of solo travelers​

🪴acquisition channels

Since we're in the pre-PMF stage and have <50 customers till date we'll be looking a cheaper and faster mode of acquisition that can be feedback driven.

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Travelxp has multiple Instagram pages with sizeable number of engaged followers along with digital presence with more than 150K MAUs. Travelxp has a linear TV channel as well.

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First - Established social media channels

Second - Leveraging the personal brand of the product promoters

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🧪acquisition experiments

Sales-Led conversion through existing channels

Banners on apps and social media pages would drive the initial set of curious users to communication channels where they could be converted by the in-house sales team.

This would involve developing the creatives and integrating them strategically across platforms to drive the curious set of users to enquire more about the offering.

Training of the sales team regarding the product pitch, addressing frequent concerns and enabling them to evaluate the users based on ICP parameters can help close the initial set of users.

Collaboration with micro travel influencers

We'll scout for Instagram and Youtube micro-influencers whose content style and audience resonate with our target market. Engaged communities, follower counts between 5,000 - 50,000, and a focus on travel and learning experiences are key factors we'll consider.

Influencers will embark on complimentary Buddymoon trips, experiencing the learning activities, delicious meals, and amazing accommodations firsthand. In exchange, they'll create engaging content that captures the essence of a Buddymoon adventure.

We could even offer additional incentives based on how well the content performs, like reach or level of follower engagement.

Co-Creating Content: We'll work collaboratively with the influencers, providing creative freedom while offering guidance on key aspects to highlight. This ensures the content aligns with our brand messaging and visual identity.

Content Amplification: We'll share it across our social media channels, showcasing the Buddymoon experience from a fresh perspective and attracting new customers eager to explore and learn.
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Tapping into Brand Fanatics: Travel with the trip curators

During the initial set of Buddymoon experiences, the curators and promoters of the trip would be traveling along with the customers to observe and tap into insights.

This strategy incentivizes participation from two key groups:

Friends of Promoters: Discounted participation through the personal channels of curators and promoters will attract Travelxp's well wishers. Their participation and feedback will be highly valuable.

Brand Fanatics: The opportunity to travel with industry influencers and Travelxp decision-makers is a strong motivator. This will attract a passionate and engaged audience to the first Buddymoons.

This approach can be spearheaded via the personal channels of the curators and promoters and at a discounted rate.

By Sarath Mohanan | Travelxp

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