Beekeeper Path to Growth HEC Montreal CSC Consulting
Beekeeper: Path to Growth HEC Montreal CSC Consulting Olivier Cohen, Brandon Jacobs, Jessica Drolet, Richard Wallace
Introduction Analysis Alternatives Strategy Implementation Conclusion Problem Statement How can Beekeeper realign its targets and operations to drive sustainable long-term growth while resolving its recent growing pains?
Introduction Analysis Alternatives Strategy Implementation Conclusion Key Issues 1 Lack of focus on key target market 2 No clear strategy over tailor-made or standardized product 3 Organizational misalignment and growing pains 4 Lack of corporate credibility for risk-averse clients
Introduction Analysis Alternatives Strategy Implementation Conclusion Key Recommendations 1. Focus on 3 core industries 2. Target non-desk employee clients 3. Standardize product offering 4. Create marketing and communication plan
Introduction Analysis Alternatives Strategy Implementation Conclusion Internal / External Strength • Unique product offering • Only player concentrating on deskless employee clients • Large corporate clients already on the books Weaknesses • Loss of synergy due to rapid growth • Satellite offices difficult to manage • Customizations impeding product development Opportunities • Big corporations present highly-potential customers • Highly-scalable • GDPR driving clients to Beekeeper Threats • Multiple highly-popular messaging apps already in use across various industries • Lack of differentiation may impact growth Beekeeper well-positioned, but must leverage core strengths to drive growth
Introduction Analysis Alternatives Strategy Implementation Conclusion Alternatives 1. Focus on key industries with customized solutions • Leverages resources on key markets • Tailor-made solutions to attract clients 2. Focus on key industries with standardized product • Simplify operations • Specialize in key segments
Introduction Analysis Alternatives Strategy Implementation Conclusion Alternatives 3. Expand to new industries with customized solutions • Increases potential market • Improves value prop. to clients 4. Expand to new industries with standardized product • Opens new markets for growth • Simplifies development
Introduction Analysis Alternatives Strategy Implementation Conclusion Decision Matrix Alternative Target key customer base Simplifies product Reduce internal Build corporate Total dev. and operations inefficiencies credibility with and costs clients 1. Custom in key industries 2. Standardized in key industries 3. Custom in new industries 4. Standardized in new industries 1: Low, 4: High
Introduction Analysis Alternatives Strategy Implementation Conclusion Decision Matrix Alternative Target key customer base Simplifies product Reduce internal Build corporate Total dev. and operations inefficiencies credibility with and costs clients 1. Custom in key industries 4 2 1 3 10 2. Standardized in key industries 4 4 3 4 15 3. Custom in new industries 2 1 1 1 5 4. Standardized in new industries 2 3 3 2 10 1: Low, 4: High
Introduction Analysis Alternatives Strategy Implementation Conclusion Decision Matrix Alternative Target key customer base Simplifies product Reduce internal Build corporate Total dev. and operations inefficiencies credibility with and costs clients 1. Custom in key industries 4 2 1 3 10 2. Standardized in key industries 4 4 3 4 15 3. Custom in new industries 2 1 1 1 5 4. Standardized in new industries 2 3 3 2 10 1: Low, 4: High
Introduction Analysis Alternatives Strategy Implementation Conclusion Key Recommendations 1. Focus on 3 core industries • Hospitality • Retail • Manufacturing 2. Target non-desk employee clients • Maximize value proposition around this feature 3. Standardize product offering 4. Implement marketing and communication plan • Streamline core development • Offer variants to specific industries • Address client concerns • Build brand confidence
Introduction Analysis Alternatives Strategy Implementation Conclusion 1. Target Key Industries • Hospitality, Retail, Manufacturing • Provide 80% of current revenues - targets main revenue generators • Enables greater industry specialization, building operational efficiency and greater corporate credibility • Reduced risk of macro-economic trends through diversification
Introduction Analysis Alternatives Strategy Implementation Conclusion 2. Target Key Clients • Focus on “non-desk employee” clients where Bee. Keeper product is most effective • Increases potential value-add, growing revenue generation capacity • Reduces resources spent on low-impact, low-return products
Introduction Analysis Alternatives Strategy Implementation Conclusion 3. Product Standardization • Centre development on 1 core product with 3 main variants • Pre-engineered options to allow some flexibility for customers • Provides an effective off-the-shelf solution improving quality and stability • Allows engineering to concentrate on core development
Introduction Analysis Alternatives Strategy Implementation Conclusion 4. Communications Plan Who? What? How? Employees • Simplification • Growth focus • No longer a startup • Aligned with values of collaboration and simplicity • Middle manager weekend training • Townhall meetings • Emails Hospitality clients HR, IT, Procurement • Stories on improved rankings Retail clients • Stories on better in-store experiences and higher sales Case studies • Blog post • Social media • PR Results to be shared with future investors ü Better focus ü Lower costs ü Lower operational inefficiencies ü Increased client retention and growth Manufacturing clients • Metrics on higher efficiency and cost reduction
Introduction Analysis Alternatives Strategy Implementation Conclusion 4. Marketing Plan Clear positioning statement • The #1 communication platform for non-desk employees in hospitality, manufacturing and retail. SURVEYS Employee engagement and retention AWARDS Security, compliance, CSR METRICS Market share TESTED SOLUTIONS PROVIDER
Introduction Analysis Alternatives Strategy Implementation Conclusion 4. Marketing Plan Partnerships with mobile device manufacturers • Pre-install Beekeeper and sell devices to B 2 B clients, especially in developing countries Free trial for new clients in 3 core verticals • One month, 25 employees • Then charge per-user subscription fee • Discount on three-year agreements
Introduction Timeline Analysis Alternatives Strategy Implementation Conclusion
Introduction Analysis Alternatives Strategy Implementation Conclusion
Introduction Analysis Alternatives Revenues Forecasts Strategy Implementation Conclusion
Introduction Analysis Alternatives Strategy Implementation Conclusion Risks Mitigation Loss of customers from standardization Grandfather the customizations into standard product over time GDPR increase complexity Work with regulatory authorities to meet requirements Lack of buy-in from satellite offices Regular executive visits and communication to unify culture
Introduction Analysis Alternatives Strategy Implementation Conclusion 1. Focus on 3 core industries 2. Target non-desk employee clients 3. Standardize product offering 4. Implement marketing and communication plan üReduce exposure to macro-economic trends through diversification of industries üMaintain engineering headcount üStrengthen core DNA of Beekeeper but concentrating efforts on core development “Keeping it simple” üPositive ROI over 3 years
Introduction Analysis Alternatives Strategy Questions? Implementation Conclusion
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