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Consulting – LyteSpark

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LyteSpark is a videoconferencing solutions business. All its services are hosted in the cloud. Two solutions exist – a packaged solution or a component solution.

Following requirements had to be undertaken:
• Assessment the current customer profile and determine whether it should be accepted or developed more fully to include ‘new’ customer segments.
• Test findings from the above by qualifying customer interest.
• Clear definition of the target customer(s) and explanation how these customer groups can located and identified.
• Evaluation of how awareness could be raised with these target customers and link this to ‘first conversion’ in an effort to link marketing to sales based measures.

Primary outcome: a definable customer group(s) and a plan of how to convert them to LyteSpark customers

Published in: Marketing
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Consulting – LyteSpark

  1. 1. Hult MIM 2015 Group 8 Selene Santero Hajra Hussain Alejandra Castro Maria Evstafyeva Deniz Taktak George Giannoulis
  2. 2. Timeline Dec. 2014 20th. Jan 2015 Now Funding Round Phase 1 Phase 2 • website recommendations • create awareness • prepare for next phase • focus on EDU • establish key partnerships • create CRM
  3. 3. Phase 1
  4. 4. Current market situation • videoconferencing solutions are diffusing into many different markets today ! Lower costs for the company: ➡ travel costs reduced ➡ maintenance costs reduced ➡ „No More Lost in Translation“ ➡ productivity loss remains minimal ➡ closer relationships with clients ! Lower CO2 emissions: ➡ videoconferencing tools enable companies to by-pass travelling ➡ huge costs are expected by 2020 in terms of CO2 emissions
  5. 5. Website Main Page • horizontal menu usage ➡ only Blog, Pricing and API options ➡ no focus on a target segment ➡ possible additions: pages explaining the program • blog needs frequent updates ➡ last update done in 2013
  6. 6. Facebook • 3 likes on Facebook ➡ Microsoft Lync has nearly 52K likes • nearly all updates have been done on the same day • latest video that was uploaded has no sound • suggestions: ➡ tutorials ➡ LyteSpark’s story: personal approach and shows the human side of the company ➡ sponsored Ads on FB and Google
  7. 7. Twitter • keep the page fresh and relevant • Twitter is a great tool for customer support • account can be linked with Facebook page; simultaneous updates • promoted Posts
  8. 8. Testimonials – PROS easy to use with personalisation abilities unmatched by its competitors usage of HTML5 is a huge plus; no downloads necessary unlike Skype for SMBE and start-ups: great tool to use rooms work seamlessly without any issues working on a Mac without any problems is a huge advantage document sharing, especially presentations (ppt) is excellent easy to implement the software for social purposes
  9. 9. Testimonials – what needs improvement browser support, especially for Safari and IE must be improved mobile app needs to launched as soon as possible browser extensions are not commonly used in the corporate environment ‚Interview Room‘: the amount of time is fixed at 30 minutes render issues regarding mobile and browsers it could offer an option to record meetings for later use offer administrative options for more suitability in the business world
  10. 10. Phase 2
  11. 11. The situation at the moment in Education • tuition fees are increasing while public funding for educational institution is decreasing ! • enrolment is declining ! • expanding global middle class and demand for higher education in the developing world
  12. 12. The Economist Survey expanding abroad through physical campuses, online presence or other means increasing recruiting of international students no clear outcome • online and distance courses will have the greatest impact on how education is delivered in the next 5 years ! • online and hybrid courses will attract more students and bring more revenue to their universities ! • digital programmes are allowing students to lower their own costs and shorten time to degree
  13. 13. What are your top three strategies to offset declining revenues? (% respondents) •30% of the universities consider adding online courses as a strategy •more than 6 in 10 say that online learning tools will help reach more students and expand globally •virtual courses reduce costs associated with offering on-site classes
  14. 14. Opportunity for LyteSpark • 51% are considering to establish an overseas physical site to strengthen their international presence ! • huge costs are involved (rents, salaries, constructure costs) ! • LyteSpark could act as the learning tool universities are looking for
  15. 15. E-Learning Economy • global education expenditure from 2014-2030 is expected to grow by 95% (Euromonitor International Research) • in 2018 the EduTech market is expected to reach $60 B
  16. 16. E-Learning Forecast $51.5 B 7.9 % worldwide e-learning market by 2016 annual worldwide growth rate over the period 2012-2016
  17. 17. Emerging Market: Asia $7.1 B 2013 revenues 17.3% annual growth rate $11.5 B revenues by 2016 adoption of mobile technology demand for contents strong government initiatives ASIA
  18. 18. Emerging Market: Latin America $1.4 B 2013 revenues 14.6% annual growth rate $2.2 B revenues by 2016
  19. 19. Established Market: North America $23.8 B 2013 revenues 4.4% annual growth rate $27.1 B revenues by 2016 TRENDS video (more human) PPT (more impersonal)
  20. 20. Skepticism about E-Learning the real learning experience is missing…!?! no networking…!?!
  21. 21. Clear Value Proposition lower or eliminate travel costs fit learning to individual schedule pace of knowledge is defined individually advance careers without interrupting them
  22. 22. Target customer group EMBA students avg. age 38 69% male 31% female profile: •executive Master of Business Administration programs developed to meet the educational needs of managers and executives •degree in two years or less while working full-time •participants come from every type and size of organisation, representing a variety of industries •EMBA students typically have a higher level of work experience, often 10 years or more
  23. 23. EMBA market avg. EMBA fees: $130,000 avg. EMBA fees: $40,000 offline online avg. EMBA salary: $175,000 66% require a global trip salary travel
  24. 24. Continuous education is considered strategic does ongoing education have a positive impact on job performance? does ongoing education factor into promotion and advancement? does ongoing education affect compensation and salary?
  25. 25. Universities offering EMBA programs
  26. 26. How to reach this customer group? • strategic partnerships with major universities ➡ start with Hult • networking events ➡ attend education fairs ➡ effective use of LinkedIn • take advantage of the ‚Buzz‘ created during Phase 1
  27. 27. Competition started by Stanford professors in 2012. For profit 5+ million students 532 courses 107 partner schools students from 190 countries started by Harvard and MIT in 2012. Non profit 1.65 million students 125 courses 30 partner schools students from 225 countries started in 2012. For profit 1.8 million students 33 courses 16 partner schools students from 190 countries
  28. 28. LyteSpark’s competitive advantage EMBA students EDU bipolar relationship •LyteSpark is offering a platform with personalisation features, sharing possibilities and the ability of virtual class participation •partner universities offer first class teaching staff •major partnerships offer credibility and trust •other competitors do not have student services or academic support as they are not a university the value proposition for institutions: a highly personalised software that fits their teaching objectives
  29. 29. Requirements • LinkedIn integration • applications for mobile devices • adjustments on existing pricing model • tutorials • online customer service for problems that might occur
  30. 30. Customer Journey 1 23 4 5 6 7 8 Engagement phase graduation follow-up mail ask about possibilities to integrate LyteSpark Prospect phase Acquisition phase 0 EMBA program choice first experience with LyteSpark ask for feedback from both sides start first personal interaction with students tutorials about how to use the productstart the learning process Goal: integrate LyteSpark in businesses of EMBA students
  31. 31. CRM Monitoring create CRM during the entire journey of the students gather customer insights establish new business opportunities
  32. 32. THANKS ;-)
  33. 33. References • Docebo S.p.A., (2014). E-Learning Market Trends & Forecast 2014 - 2016 Report. [online] Available at: https:// www.docebo.com/landing/contactform/elearning-market-trends-and-forecast-2014-2016-docebo-report.pdf [Accessed 4 Dec. 2014]. • Hougan, S. (2014). Start-ups a Key Contributor in the Rapidly Growing eLearning Market. [online] Lambda Solutions. Available at: http://www.lambdasolutions.net/blog/2014/12/start-ups-key-contributor-to-rapidly-growing-elearning-market/ [Accessed 4 Dec. 2014]. • The Economist, (2014). Higher education in the 21st century: Meeting real-world demands. [online] Available at: http:// www.economistinsights.com/sites/default/files/EIU_AcademicPartns_WEBr1.pdf [Accessed 4 Dec. 2014]. • The Economist, (2014). The digital degree. [online] Available at: http://www.economist.com/news/briefing/21605899-staid- higher-education-business-about-experience-welcome-earthquake-digital [Accessed 4 Dec. 2014]. • The Best Schools, (2011). The 10 Best Executive MBA Programs | The Best Schools. [online] Available at: http:// www.thebestschools.org/blog/2011/12/27/10-executive-mba-programs/ [Accessed 9 Dec. 2014]. • How Much Does A Top Executive MBA Cost? | Poets & Quants for Executives. [online] Available at: http:// poetsandquantsforexecs.com/2014/07/22/how-much-does-a-top-executive-mba-cost/ [Accessed 9 Dec. 2014]. • Cost of Online MBA Programs - Low-Cost and Best Value Schools. [online] Available at: http://www.onlinemba.com/guide/ school-by-school-cost-of-online-mba-programs/ [Accessed 9 Dec. 2014]. • Best Executive MBAs EMBA Marketing 2014/2015. [online] Available at: http://www.mbastudies.com/EMBA/EMBA- Marketing/ [Accessed 3 Dec. 2014].

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