Consulting – LyteSpark

Hult MIM 2015 Group 8Selene SanteroHajra HussainAlejandra CastroMaria EvstafyevaDeniz TaktakGeorge Giannoulis

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

Phase 1

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

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

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

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

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

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

Phase 2

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

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

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

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

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

E-Learning Forecast

$51.5 B 7.9 %

worldwide e-learning market by 2016

annual worldwide growth rate over the

period 2012-2016

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

Emerging Market: Latin America$1.4 B

2013 revenues



Established Market: North America

$23.8 B 2013 revenues



TRENDS

video (more human)

PPT (more impersonal)

Skepticism about E-Learning

the real learning experience is missing…!?!

no networking…!?!

Clear Value Proposition

lower or eliminate travel costs

fit learning to individual schedule

pace of knowledge is defined individually

advance careers without interrupting them

Target customer group

EMBA students

avg. age 38 69% male

31% femaleprofile:

• 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

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

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?

Universities offering EMBA programs

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

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


started in 2012. For profit

1.8 million students

33 courses

16 partner schools


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

Requirements

• LinkedIn integration

• applications for mobile devices

• adjustments on existing pricing model

• tutorials

• online customer service for problems that might occur

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

studentstutorials about how to

use the productstart the learning process

Goal: integrate LyteSpark in businesses of EMBA

students

CRM

Monitoring

create CRM during the entire journey of the students

gather customer insights

establish new business opportunities

THANKS ;-)

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].

Consulting – LyteSpark

Marketing

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