Could you describe the idea behind the Joy project and its money-making concept?
The idea behind The Joy is to develop a wellness and beauty marketplace, even an entire ecosystem, for customers, freelance workers, salons and companies from the beauty industry. The Joy is a fast, easy and convenient solution for ordering beauty and wellness treatments for customers. Service providers will also use The Joy to increase their revenue and digitalize their business because The Joy is a salon management system as well. Salons and freelancers pay only commission fees for every order brought via The Joy; all the other features including management system are given to the salons and freelance practitioners totally free of charge.
Well, I know barely anyone who books his hair or massage treatments via the internet. Usually one looks for a salon’s phone number on the internet or just passes by the salon in order to make a booking. But those approaches can be really difficult when the salon is closed or no one picks up the phone. With the rise of digital technologies people are using services to save their time and make things simple, think of booking.com for booking hotels, Uber for booking taxis and Airbnb for booking apartments. So, The Joy will be the service they use for beauty and wellness treatments.
Why do you need a blockchain for such an application? Why can’t you use a simple centralized platform, like a call-center or an Uber-like application?
We don’t position ourselves as a blockchain project. Although blockchain is definitely one of the important tools that we use for the development of our project, for instance, the development of secure rating storage. In addition, Ethereum’s blockchain ensures the emission of secure digital currency (Joycoin) which is impossible to defraud. My point is that our product is worth attention as an entire platform and not just because of the blockchain component.
Our platform is simple, Uber-like and centralized to some degree. We didn’t overcomplicate things and didn’t build the whole platform on blockchain but introduced it only where it made sense from the business point of view to get rid of unneeded commission fees and waiting times. Joycoins play the role of miles in FFPs. We reward people with Joycoins for their activity within the platform but in comparison to those miles Joycoins are liquid, secure, give additional discount to their owners and can be directly spent within the platform on par with a local currency.
Why do you believe that Joy is bound for success? What are the factors that underpin the project’s success?
Firstly, we had a long preparation phase that began two years ago in which we did field trials, lots of market research, surveys and numerous consultations with salon owners, practitioners, executives from industry, lawyers and so on. Secondly, beauty and wellness treatments’ market is still untamed in this regard and we know that there will be no real alternative to the product we develop. Thirdly, the tokenization model is based on the Joycoin incentive system.
Give us five reasons why the beauty industry’s representatives would be interested in working with your project.
- The Joy brings additional revenue to salons.
- Beauty and hair salons get a full salon management system free of charge and pay only a commission fee for additional customers who come via our platform.
- Beauty freelancers will get also a logistic system that will help them to keep track of their bookings and find parking spaces in cities.
- Companies from the beauty industry can carry out advertising and conduct promotional campaigns within the platform.
- Producers of personal care products can gain invaluable insights into platform statistics, such as user and product sales trends, and as a result, can adjust their marketing and even product development.
What are the instruments you will use to promote your product and what are your expected timeframes for reaching break-even?
There are a number of tools and methods we will use, for instance, targeted and contextual advertising aimed at customers looking for beauty or wellness treatments and collaboration with bloggers and opinion leaders in the beauty and lifestyle sector. A built-in bounty campaign and a unique referral program will help The Joy develop organic advertising among friends of users who have already tried The Joy. We will organize meetings with salon owners during which presentations, promotional and educational materials from The Joy are distributed and shown. We will do PR in professional magazines for workers in the beauty and wellness industry. We will participate in thematic events and wellness and beauty industry exhibitions. We will also generate PR on professional web resources and among professional communities in social networks.
Are you going to explain to your audience the benefits of using cryptocurrencies in intra-platform operations? How will you convince them to use your coins?
Inside the platform, all the transactions will be instant just as the same with any centralized crypto exchange. Some users won’t even know they are dealing with cryptocurrencies. But any user at any time will be able to withdraw his or her Joycoins from the platform to his Ethereum wallet. We won’t have to convince them to use Joycoins, there won’t be any need to do that because the whole system is designed in the way that a user unconsciously understands how and why he can use Joycoins; there aren’t any barriers and all intra-platform transactions will be instant and free.
What is the message you would like to pass to the beauty and wellness industry right now?
The industry is too conservative and slow when it comes to digitalization processes that are revolutionizing other sectors. But there are no turnkey solutions that can satisfy all participants in the beauty and wellness treatments market. As such The Joy will be the first one. Those in the industry that don’t enter the digital world within the next 3-5 years will have a hard time staying in the market. So I would advise them to join The Joy as soon as possible before it is too late.