The Vansmith: The Foundation
Developing a new value proposition aimed at millennial wanderlusters for a bespoke adventure van outfitter.
Client
The Vansmith
Completed At
CCA DMBA: Business Models
Team
Ashli Dong
Ivana Colendich
Jeff Squires
Chris Tadeu
My Role
Business Model Innovation
Client Engagement
Concept Testing + Validation
Go-To-Market Strategy
Market Research + Analysis
Value Proposition Development
The Vansmith is a conversion van outfitter that provides people the freedom of the open road with the tools, services, products, and knowledge to adventure.
The Challenge
Despite booming interest in the #vanlife movement and a sizable social following, The Vansmith was not seeing much lift in year-over-year sales. Our team partnered directly with their General Manager and other key stakeholders to explore solutions to this business problem.
Our initial discovery revealed that Vansmith’s core offering caters to a more senior, financially comfortable demographic, while a much younger audience is driving engagement with #vanlife content online. We proposed going after this new customer segment with a value proposition designed around their needs and lifestyle.
Identifying a New Customer Segment
‘Vancurious’ Millennials
Our research revealed a growing number of millennials striving to live the #vanlife, motivated by a resurgence in RV nostalgia and isolation during the pandemic. These folks are eager to hit the road, though they often lack the financial means to purchase a top-tier fully converted camper van as well as the technical knowledge to build one themselves.
Financial barrier to entry for current offerings is just too high
Held back by lack of skills, tools and space to build it themselves
Represent a massive segment (20M+ interested in RV’s)
A Gap in the Market
The Competition
The conversion van market is largely polarized – custom outfitters like The Vansmith fall on one end, where a newer vehicle + interior build out starts at an unattainable price point for this segment. Opposite are all of the DIY options, which are more affordable but require tools, space and skillsets to build out on your own.
The Opportunity
There is a clear opportunity to target the space in-between, where there is an unmet need for vancurious millennials; a mid-tier offering that doesn’t require extensive elbow grease and also doesn’t break the bank.
The Foundation helps “vancurious” millennials who want to convert a van by providing a pro-grade DIY platform that is affordable, scalable, and easy to install. Unlike other conversion kits, The Foundation takes care of the hard stuff and guides you through the rest.
How It Works
The Foundation is a modular van conversion broken down into phases. Customers start with the base build, which only includes the essentials such as flooring + wall panels, vents + windows. The remaining interior components are divided into several DIY Kits that can be added individually over time. Each kit includes step-by-step instructions and follow-along video content to make installation a breeze.
Benefits
Aside from the lower entry cost, this phased approach has many benefits beyond traditional conversions. Customers can take time to understand their use of space and purchase only the kits they want or need. It also involves customers in the creative process without requiring expert building knowledge. The Foundation knocks out the intimidating work beforehand such as insulation and electrical.
Gathering Feedback
“For me, part of the appeal is building the thing. I don’t know if I need to do all of it, but I want a connection with the design.”
– Alicia / F / 33
“I'd like an offering around coaching or mentoring when I run into a problem, so I feel confident getting it fixed.”
– Nate / M / 30
“The kits I’ve seen are so expensive that the difference between paying someone to do it all isn’t that much of a gap.”
– Martin / M / 41
Concept + Validation Testing
To validate The Foundation’s value proposition, we first conducted qualitative interviews with our target customers. From there we synthesized key insights about their wants, needs and behaviors to further refine the concept.
Next we tested it across The Vansmith’s owned media channels with a ‘fake door’ approach, leveraging Instagram and The Vansmith website to gauge interest and benchmark click-through rates against their existing offerings. Lastly, we analyzed the closest competitors in the modular build kit space to ensure The Foundation was uniquely positioned and differentiated.
The Road Ahead
Go-To-Market Roadmap
We made recommendations on how The Vansmith could efficiently roll out The Foundation over a three-year runway, allowing the business to leverage their existing capabilities to get started before financing additional R&D, logistics and marketing. This allows time for iteration and adjustments to the business model along the way, de-risking the up-front investment.
Strategic Partnerships
Launching The Foundation will require strategic marketing to drive conversions among our target audience. We put together a plan that includes partnerships with influencers, event series and online learning platforms to build awareness, confidence and trust.
At the center is YouTuber Levi Allen, an established content creator in the vanlife and DIY spaces. We’ll supply Levi with the The Foundation base build and additional DIY kits, as he documents the installation process from start to finish throughout his van adventures.
The Results
The Vansmith launched The Foundation in 2023, leveraging our team’s strategic direction and business model innovation to bring it to market successfully. Final Deliverables:
Comprehensive Go-To-Market Plan
Competitive Audit + Market Research
Customer Interviews + Insights
Concept Testing Data + Analysis
Revenue Projections
Marketing + Launch Strategy
