AYOJAK CASE STUDY ANALYSIS

Ambreen Qureshi – 679

Apoorva Yadav - 651

ANALYZE EVENT MANAGEMENT INDUSTRY BY PORTERS 5 FORCES-

BARGAINING POWER OF SUPPLIERS

Low bargaining power of suppliers in the event management industry

As the annual growth rate of the industry is 25%, number of suppliers is increasing hence causing more competition and establishing a new business standards.

Switching Cost: Low (Table 1-Due to presence of so many similar suppliers)

Competition is high (Table 1) Therefore, they are not price drivers

BARGAINING POWER OF CUSTOMERS

High bargaining power of Customers in the event management industry

Because the number of players is high, Customers have diverse options to choose the best event solutions for them.

Product differentiation is low Easy and low cost switching Customers take advantage of multiple services (in bulk

orders)

THREAT OF NEW ENTRANTS

Very High threat of new entrants in the event management industry

Existing loyalty to major brands is low

Protection for new technologies like e-ticketing, event page for iPhone/iPad, online payment process solutions etc. - Little/ No

THREAT SUBSTITUTE PRODUCTS

High threat of Substitute Products in the event management industry

Entrée of M-commerce might dominate the E-commerce market through Android, Apple (Ios), Blackberry, windows based App phones

Social Media Platforms – Facebook, Linkedin etc. Feasible & easy if any of the companies come up with

new integrated unique features that provide extra customer services (loyalty programs, ticket home delivery, after-event incentives etc.)

AYOJAKS EXISTING CONTENT STRATEGY

Current Scenario--

Social Media B2B

Facebook Promotion events through facebook for B2B clients. No of posts (as on April 2011) has increased.Need to increase their posts on brands (which has decreased refer Exhibit 4)Links to BlogpostsCurrent affairs/Contests/Entertainment now is being given importance as Customer Engagement is vital for an online event solution company.

Twitter Number of tweets - promoting client events indulging in Customer Engagement. Exhibit 6 shows the increase in totals from January to April 2011. Informative Content needs high attentionTwitter has maximum tweets about events and messages and feedback from community members

Corporate Blog Poor updating on the Corporate Blogs of Ayojak in the 2011 ( in spite of the fact that Facbook page links B2B consumers to these blogposts for additional info) than 2010 which provided optimum updation – Maximum in June then Spetember and December.

COMMENTS-

Ayojak needs to Focus on increasing traffic on its Social Media platforms by generating exceptional content

Facebook, Twitter etc are not the place for business! Hence Customer Engagement should be their utmost priority and promoting their product

B2B clients should be handled in direct marketing and should not be addressed on Social Media Websites

B2C strata has to be high! Customer Engagement & Customer retention strategies(the overall satisfaction, Brand Strength, Future Prospects, Perceived value for money) to be adopted which should result in Customer Loyalty

COMMENTS-

Ayojak needs to introduce their content on Youtube, Flickr, Tumblr

Ayojak needs to know what their customers, audience or community wants to talk about and will be willing to engage in those conversations.

They need to know where your audience wants to have these conversations; in other words, where they “hang out” online.

They need to measure the results of the conversations of the community members to see which ones catch fire.

MATRIX TO EVALUATTE CUSTOMER ENGAGEMENTAyojak should use the following matrix to evaluate its customer engagement as it will give a holistic view of their product impact on the social media:-

CUSTOMER ENGAGEMENT ANALYSES

Email surveys is a good method to do research inside consumer world and they also keep the anonymity well intact.

Tools like 4Q and Kampyle works well since they’re low commitment, fast and anonymous.

From the matrix mentioned in the previous slide Ayojak needs to pay importance to the following activities:

1. Follower/ Fan volumes2. Repeat transactions of tickets and Event related queries from

consumers3. Comments & site interactions on twitter and facebook4. Brand Awareness of Ayojak5. Customer Loyalty6. Online originated sales and revenue

THREATS FROM FACEBOOK & LINKEDIN - That surrounds Ayojak

IF AYOJAK CONTINUES WITH THE OLD CONTENT STRATEGY ON SOCIAL MEDIA THEN:-

Ayojak will lose its customer base as there is no innovation in the content format or themes.

Facebook requires customer engagement through well presented applications, games and contests which Ayojak is not doing.

The lack of any of the above activities will diminish Ayojak`s potential growth among consumers.

LinkedIn is a source of finding great talents in industry and hire them. It is also a great place to market online business.

Currently Ayojak is not leveraging on this aspect of LinkedIn and loosing out a huge business awareness potential.

Both the social networking sites provide platform for advertisements which Ayojak is not fully utilizing to market its unique selling point among consumers mindset.