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Untitled Prezi

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by

Giorgio Chiarioni

on 21 October 2014

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Transcript of Untitled Prezi

LTV Model
LTV represents the NPV of the expected cash flows generated by the relationship with the customer over time and from now on.
KPIs
KPIs are quantifiable metrics which reflect the performance of an organization in achieving its goal and objectives.

Most of MyGon's KPIs have been already considered. Some examples can be:
# of New Customers
# of Users who already used MyGon
# of customers who left MyGon
Level of Customer Satisfaction
Level of Difficulty in accessing MyGon
Customer Value for MyGon
Reputation
Increase in Revenues
Feasibility
In defining new CRM initiatives for MyGon, it is necessary to pay particular attention on:
Limited Budget
Simplicity

MyGon Desk at Universities
MyGon Ranking
Customer Segments
Two kinds of customers:
Users
Merchants

Users Value can be measured:
Duration of Relationship
# of Reservations
# of People per Reservation
Activity:
Last Login
Last Reservation
# of Users brought to MyGon
# of Merchants brought to MyGon

Merchants Value can be measured:

Duration of relationship
# of Offers
# of Reservations received
# of People per Reservation
Activity:
Last Offer Published
Last User Served
# of Merchants brought to Mygon
Revenues
Revenues are coming from two sources:
Users
Merchants

Revenues deriving from Users:
# of Reservations
# of People per Reservation
# New Users
# of Users brought to MyGon
# of Merchants brought to MyGon

Revenues deriving from Merchants:

# of Offers
# of Reservations received
# of People per Reservation
Quality of offers
Fee paid to Mygon (The only monetary component)
# New Merchants
# of Merchants brought to MyGon
Costs
Costs are deriving from two sources:
Users
Merchants

Costs that are in common for both:
Office Rent
Hardware & Software
Employees' Salaries
Call-Center
Website
Marketing
Word of Mouth

Particular Costs for Users:
Rewards
App

Particular Costs for Merchants:

Transaction Costs

Two aspects should be considered:

From an accounting view, all of them are costs and most of them increase with # transactions
From LTV view, these should not be considered costs as they involve a certain revenue:
Rewards
Word of Mouth


Predicted Time of Relationship
Predicted Time of Relationship is different for:
Users
Merchants

Users:
Value of Customers
Age of Users (Usually young)
Location
Quality of Offers
Level of Prices
Customer Satisfaction
Customer Assistance
Reward System
Offers Turnover and Variety
Dynamism
Reputation
Level of Trust

Merchants:

Merchant performance
Level of Fees
# of Customers attracted through MyGon
Customer Satisfaction
Customer Assistance
Dynamism
Reputation
Level of Trust

Duration of Relationship
with Customer
and Retention Rate
Duration of Relationship with Customers and Retention Rate differs for:
Users
Merchants

Both depend on factor identified for t

Futhermore:

Duration of Relationship with customer depends on:
Customer

Retention Rate depends on:
Customer Segment


Revenue Growth
Revenue Growth can be achieved through two channels:
Users
Merchants

Revenue Growth deriving from Users:
# of Users
# of Reservation of Users
# New Users
# of Users brought to MyGon
# of Merchants brought to MyGon

Revenues Growth deriving from Merchants:

# of Merchants
# of Offers per Merchants
# New Merchants
# of Merchants brought to MyGon
Level of Fee
Discount Factor
The discount rate in LTV model takes into account:
The time value of money,
The risk or uncertainty of future cash flows:
Higher uncertainty -> Higher discount rate
MyGon Live Chat
Win Prices with MyGon
MyGon Lottery
Christmas MyGon
CRM Initiative
Slight decrease in points required for this voucher


Easier access


Increase attractiveness


More purchases

Difficulties in reaching Rewards -> Too many points required -> Improvement needed

New Proposal: Match Rewards with lower and easier reachable points



Example:

Objective
:
Attract more Users
Reward more frequently the loyal ones

Target
: All Users

KPIs:
Level of Users satisfaction with the rewards point system
Level of revenues earned thanks to the rewards system
Level of revenues earned thanks to the pecuniary vouchers/“leisure” vouchers
# of Users who view the voucher details (attractiveness)
# of Users who reached the pecuniary vouchers/“leisure” vouchers
# of Users who continue purchasing after using a voucher (pecuniary/leisure)
Feedback on reward experience
Level of difficulty faced to obtain a voucher

Timeline:
Evolution and Update of an Ongoing Initiative

Budget:
almost same as before -> higher cost in the short term compensated with a higher income in the long run
Users, after booking an offer can freely participate in MyGon’ s lottery.
Available link on MyGon Website.
Each month.
Win attractive offers that change every month, such as a dinner for 2 people in a typical restaurant in your location.
CRM Initiative
Objective:
Reward Users that actively make reservations

Target:
All users who have made at least one reservation

KPIs:
# of Users who have clicked on the link
# of Users who have subscribed for the contest
Increase in Revenues/Reservation following initiative
Following Reservations at Merchants of the Prize

Timeline:
Further Evolution of Reward System -> Ongoing Initiative

Budget:
Low Budget
MyGon desk at the 4 main universities in Lisbon (Nova Sbe, Universitade Catolica, Universidade de Lisboa and Instituto Politécnico de Lisboa)
Active for 1 week in each university
Get 2 students to work at the desk and reward them with a 100 euro voucher
Help students in joining Mygon
Explain how Mygon works
Reward students with a 2 euro voucher for creating an account, to be used within 1 month
CRM Initiative
Objective:

Advertise MyGon to students (especially foreign students who don’t know MyGon)
Stimulate them to use MyGon
Stimulate word of mouth
Gain many new users
More users means more merchants interested in joining MyGon

Target:

All students of the universities
Offer the universities to become Premium users

KPIs:
Increase in # of new users after the four weeks of advertisement desk
of which # of students
# of new users for each university
# of students who actually used their voucher
# of active users of MyGon within a month
Increase in Website use and social network activity

Timeline:

1 week desk in each university -> for a total of 1 month
New initiative

Budget:
Low budget and no money payback
Creation of a “ranking” for merchants
Evaluation parameter: quality of service offered to customers
Based on customers’ review
0-5 stars to indicate quality of service received
5 points gained for each review (only customers that have experienced the offer can do the relative review)
CRM Initiative
Objective:

Help customers to choose between various offers
Use C2C to increase credibility about Mygon’s services
Incentivize merchants to offer high-quality services
More visibility to merchants
Trustful info on merchants
Active customers -> C2C & C2B

Target:

Directed to active customers and merchants

KPIs:
Increase in revenues after that initiative
Level of satisfaction of customers and merchants
Number of reviews before and after the addition of this initiative
Change of sold offer volume related to position in ranking
Value of merchants

Timeline:

Completely New initiative

Budget:
Minimum cost, affordable -> Using already existing channel: app and website
10am - 19 pm
Monday - Friday
Live chat assistance service for any kind of issue
In support of call center
CRM Initiative
Objective:

Increase customer satisfaction
Integrate the call center system
Provide a faster service

Target:

All users and merchants

KPIs:
# of customers that uses live chat
# of times that costumer click on live chat
Level of satisfaction with the service
Quality of feedback (assistance)
Response average time -> efficiency
Average length of assistance

Timeline:

Completely New initiative

Budget:
Low/medium budget
Special Rewards: 1 reservation = 2x points.
Available from 1-12-2014 to 20-12-2014
CRM Initiative
Objective:

Increase # of reservations
Reward new and loyal users for Christmas
A MyGon offer can be give as a present

Target:

All Users

KPIs:
Level of customer satisfaction with the offers.
Number of users who joined this offer.
Number of users who clicked on the offer.
Number of customers who continue to purchase after this special offer.
Feedback on this offer.

Timeline:

Completely New initiative
One-shot initiative

Budget:
Low Budget
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