Neat Company

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We had to take a company and create new ads for it based off our research of the company.

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Neat Company

  1. 1. Katherine Kelly | Ben Kessler Colleen McAndrew | Joannis Paxinos | Dineen Williams
  2. 2. Client: The Neat Company <ul><li>Founded: 2002 </li></ul><ul><li>Industry: Computer Software </li></ul><ul><li>Employees: 160 </li></ul><ul><li>2008 Revenue (est.): $25m </li></ul><ul><li>B2C and B2B </li></ul><ul><li>Innovative software and scanner solutions </li></ul>
  3. 3. <ul><li>Portable scanner </li></ul><ul><li>Intelligent Text Recognition </li></ul><ul><li>Receipts, business cards, </li></ul><ul><li>documents </li></ul><ul><li>Create expense reports, taxes </li></ul><ul><li>Export to popular software: MS Office, Quicken, QuickBooks </li></ul>Product: NeatReceipts
  4. 4. <ul><li>Jeff Vogel, Director of Marketing </li></ul><ul><li>Marketing Department: </li></ul><ul><ul><li>Internet Marketing </li></ul></ul><ul><ul><li>Retail/Channel Marketing </li></ul></ul><ul><ul><li>Customer Relations </li></ul></ul><ul><li>Outsourced: design, media buying, PR </li></ul>Manager Interview
  5. 5. <ul><li>Strengths </li></ul><ul><ul><li>Only receipt scanning product on market </li></ul></ul><ul><ul><li>Redesigned brand </li></ul></ul><ul><ul><li>New products for emerging markets </li></ul></ul><ul><li>Weaknesses </li></ul><ul><ul><li>Software Limitations </li></ul></ul><ul><ul><li>Increasing revenue, not profitable </li></ul></ul><ul><ul><li>High R&D costs, less money for marketing budget </li></ul></ul>SWOT Analysis
  6. 6. <ul><li>Opportunities </li></ul><ul><ul><li>Value Added Reseller (VAR) Channel </li></ul></ul><ul><ul><li>Bundling with complimentary products (Dell, Intuit) </li></ul></ul><ul><ul><li>Remote Deposit Capture </li></ul></ul><ul><li>Threats </li></ul><ul><ul><li>Paper becoming obsolete </li></ul></ul><ul><ul><li>Possibility of competitor developing receipt product </li></ul></ul><ul><ul><li>Large investment, little return </li></ul></ul>SWOT Analysis
  7. 7. Customer Interviews 25 Interviews November 3, 2008 – November 8, 2008
  8. 8. Interview Questions <ul><li>How did you first hear or learn about NeatReceipts? </li></ul><ul><li>Where did you purchase NeatReceipts? </li></ul><ul><li>How many times per year do you travel for business? </li></ul><ul><li>  How often do you use NeatReceipts? </li></ul><ul><li>What do you like most about NeatReceipts? </li></ul><ul><li>How do you use NeatReceipts? </li></ul><ul><li>How long have you owned NeatReceipts? </li></ul><ul><li>Which of the following applications do you export to from NeatReceipts? </li></ul><ul><li>On a 0-to-10 scale, how satisfied are you with the product overall? </li></ul><ul><li>On a 0-to-10 scale, how likely are you to recommend NeatReceipts to a friend? </li></ul><ul><li>Have you ever encountered an advertisement for NeatReceipts or NeatDesk? If so, where? Please select all that apply. </li></ul><ul><li>When making electronics purchases, which are you most concerned with? </li></ul><ul><li>What is your gender, age, and current income? </li></ul><ul><li>What industry do you work in? </li></ul><ul><li>Are there any problems that you have encountered with your Neat product? </li></ul><ul><li>Do you own or work in a small business with less than 10 employees? </li></ul>
  9. 9. Target Markets Yes Small Business Industry Accounting Busn Services Fin. Services Male Female Gender Age Income 18-29 30-39 40-49 50-59 60+ < $40,000 $40,000 - $59,000 $60,000 - $79,000 $80,000 - $99,000 $100,000 + <ul><li>Managerial Interview: Home and Small Businesses (< 10 Employees) </li></ul><ul><li>Customer Interview Results: 80% </li></ul>20 9 4 3 20 5 4 6 9 5 1 1 4 8 5 7 Number of Respondents
  10. 10. SWOT <ul><li>Strengths </li></ul><ul><ul><li>Unique Product </li></ul></ul><ul><ul><li>Light, durable, easy to use </li></ul></ul><ul><li>Weaknesses </li></ul><ul><ul><li>Working with existing MS Word </li></ul></ul><ul><ul><li>Scanning faded receipts </li></ul></ul><ul><li>Opportunities </li></ul><ul><ul><li>In-store demonstrations (Costco) </li></ul></ul><ul><li>Threats </li></ul><ul><ul><li>Competitors who counteract Neat Company’s Weaknesses </li></ul></ul>
  11. 11. Customer Satisfaction Number of Respondents 3 4 8 9 <ul><li>68% Extremely or Very Satisfied with product(s) </li></ul><ul><li>80% Extremely or Very Likely to recommend product </li></ul>
  12. 12. Summary <ul><li>Neat software needs to be more compatible with existing computer programs </li></ul><ul><li>Customers and Neat Company recognize threat of competitors entering the market </li></ul><ul><li>Customers find Neat Company products valuable </li></ul><ul><ul><li>68% very or extremely satisfied </li></ul></ul><ul><ul><li>80% very or extremely likely to recommend product </li></ul></ul><ul><li>80% of customers interviewed make up Neat Company’s current and only target market </li></ul><ul><ul><li>There is a need to expand into other potential target markets </li></ul></ul><ul><li>16 out of 25 interviewees use his or NeatReceipt product daily to scan receipts </li></ul><ul><ul><li>Target markets need to know more information. NeatReceipts can scan and read ANY document. </li></ul></ul>
  13. 13. Neat Company Advertising
  14. 14. Neat Company Advertising
  15. 15. <ul><li>Target Segment </li></ul><ul><ul><li>30- 45 </li></ul></ul><ul><ul><li>Business Travelers </li></ul></ul><ul><li>Consumer Benefit is portability </li></ul><ul><li>Expense reporting </li></ul>
  16. 16. <ul><li>Target Segment </li></ul><ul><ul><li>18-29 </li></ul></ul><ul><ul><li>In school </li></ul></ul><ul><li>Consumer Benefit – getting organized </li></ul>
  17. 17. <ul><li>Create advertisements that focus on the customer </li></ul><ul><li>Engage new target markets through advertising </li></ul><ul><li>Innovation </li></ul><ul><li>Solving existing problems </li></ul>Summary and Recommendations

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