We live in the Silicon Valley, and we wanted to make a difference in the community in a BIG way.
What it does
The chabot streamlines communication between potential donors and the company's leadership by utilizing a chatbot.
How we built it
We utilized GupShup to create a chatbot and publish it onto sites, such as Twitter, Facebook Messenger, Slack,Telegram, and Kik.
Challenges we ran into
Being inexperienced with the syntax and language that GupShup uses, we had trouble implementing our desired results into the chatbot. We combated this by listening to hours of tutorial and staying dedicated. We shifted GupShup from a secondary component of our solution into the main feature.
Accomplishments that we're proud of
We expanded our already existing infrastructure to further our revenue.
What we learned
This was our first, non-robotics programming experience, so we learned how to implement bots as a whole, which was difficult.
What's next for Thrive Silicon Valley ChatBot
We want to provide more options for the ChatBot and create a more sophisticated website and have an mobile app counterpart.
Our Business Plan
I. Executive Summary
In the Silicon Valley, which is considered the major technological hub of the world, students without technological access suffer in the advanced area. Children who do not have access to technology at home fall behind in the fast-paced Silicon Valley, as lack of viable technological options and resources can directly influence poorer performance in school and lead to a lack of properly developed 21st century skills, which is why we were motivated to raise money by creating the service project, Thrive Silicon Valley. However, there was not a smooth way for potential supporters to donate, so by building a website, we can streamline communication between our company and supporters to increase potential revenue, as well as increase our legitimacy as a nonprofit. We utilized the chatbot generating tool, GupShup, to create a bot in which website visitors can be prompted to a website to donate to our cause or request information.
From January to March 2016, Thrive Silicon Valley raised over $600 to benefit underprivileged youth in the Silicon Valley, and over half of those funds resulted from donors. We spent $30 in material and advertising expenses and the approximately $570 profit to donate to charity was a boost to our morale and a motivator to carry the campaign on a deeper level. We wanted to capitalize on the generosity of our supporters and popularity of the campaign and create an interactive website to streamline communication, so we do not have to spend excess time and energy meeting supporters face-to-face. Through Beerud Sheth, we learned how GupShup could assist businesses in communication, and that application directly benefited our case and solved some of our problems. Using a bot, we could reach 100% of people requesting information, which would be impossible for us prior to the development. In addition, we could raise access to people living outside our community by moving past our sole use of a crowdfunding page into a large website in which we could be contacted and sponsored, which would both increase our revenue and increase the user experience, as there is less risk of overlook and increased communication factors. Overall, the combination of website development and a dedicated chat bot was found by us to be an ideal combination to address our needs and increase our profit margin.
III. Analysis of the Business Situation
Because we are based in the Silicon Valley and target Silicon Valley adults to donate to our project, it creates a reliable base of support for us. 94% of Silicon Valley homes have Internet access, so with a website, we can reach a large portion of our target demographic. In our face-to-face campaign, we focused on raising funds in Los Gatos and San Jose, but by expanding aggressively into the online infrastructure, we can actually reach our entire goal. Due to the charitable events of the area, like the Silicon Valley Turkey Trot (which raises funds online), people in the area have a charitable mindset implanted within, thus our project will feasibly expand comfortably into the online infrastructure to grow as a company, and utilizing the website and chat bots will help execute our goals.
IV. Projected Outcomes
From Thrive’s past local and corporate interactions, we were able to predict where the strengths and weaknesses of our establishment lie. The immense popularity stemming from a public donation page has led us to believe that a dedicated chat bot embedded on our site will bring in a consistent amount of local and external donations as well as a renewed automation for our organization. The integration of GupShup into Thrive’s infrastructure will bring a projected 25% more traffic to our donations page that will be working towards a $1500 goal. The shortened time between cash flow goals will allow our campaign to keep its cash turnover times low while maintaining a flexible work base and a greater connection to an ever changing consumer audience. In addition, with an increased degree of communication between clientele and our company due to the chatbot, more people will be expected to contribute to the campaign. Our profit margins should resoundly increase due to our aggressive, entrepreneurial approach, so the $1500 goal should be expected in approximately 3 months, as we raised $600 in the same timespan, but our approach should increase revenue by 150%, as production costs do not increase, per the free nature of our website. Overall, by increasing our advertising measure, Thrive Silicon Valley should be expected to perform at a better level as a company in the near future.
Our website can be found here