neat company
DESCRIPTION
We had to take a company and create new ads for it based off our research of the company.TRANSCRIPT
Katherine Kelly | Ben Kessler Colleen McAndrew | Joannis Paxinos | Dineen Williams
Client: The Neat Company
• Founded: 2002• Industry: Computer Software• Employees: 160• 2008 Revenue (est.): $25m• B2C and B2B• Innovative software and scanner solutions
• Portable scanner• Intelligent Text Recognition• Receipts, business cards,documents• Create expense reports, taxes• Export to popular software: MS Office, Quicken,
QuickBooks
Product: NeatReceipts
• Jeff Vogel, Director of Marketing• Marketing Department:– Internet Marketing– Retail/Channel Marketing– Customer Relations
• Outsourced: design, media buying, PR
Manager Interview
• Strengths– Only receipt scanning product on market– Redesigned brand– New products for emerging markets
• Weaknesses– Software Limitations– Increasing revenue, not profitable– High R&D costs, less money for marketing budget
SWOT Analysis
• Opportunities– Value Added Reseller (VAR) Channel– Bundling with complimentary products (Dell, Intuit)– Remote Deposit Capture
• Threats– Paper becoming obsolete– Possibility of competitor developing receipt product– Large investment, little return
SWOT Analysis
Customer Interviews
25 InterviewsNovember 3, 2008 – November 8, 2008
Interview Questions• How did you first hear or learn about NeatReceipts?• Where did you purchase NeatReceipts?• How many times per year do you travel for business?• How often do you use NeatReceipts?• What do you like most about NeatReceipts?• How do you use NeatReceipts?• How long have you owned NeatReceipts?• Which of the following applications do you export to from NeatReceipts?• On a 0-to-10 scale, how satisfied are you with the product overall? • On a 0-to-10 scale, how likely are you to recommend NeatReceipts to a friend? • Have you ever encountered an advertisement for NeatReceipts or NeatDesk? If so,
where? Please select all that apply.• When making electronics purchases, which are you most concerned with?• What is your gender, age, and current income?• What industry do you work in?• Are there any problems that you have encountered with your Neat product?• Do you own or work in a small business with less than 10 employees?
Yes
Small Business Industry
Acco
untin
g
Busn
Ser
vice
sFi
n. S
ervi
ces
Mal
eFe
mal
e
Gender Age Income
18-2
9
30-3
940
-49
50-5
960
+ < $4
0,00
0$4
0,00
0 - $
59,0
00$6
0,00
0 - $
79,0
00$8
0,00
0 - $
99,0
00$1
00,0
00 +
Target Markets• Managerial Interview: Home and Small Businesses (< 10 Employees)• Customer Interview Results: 80%
20
9
43
20
5 46
9
51 1
48
57
Num
ber o
f Res
pond
ents
SWOT• Strengths– Unique Product – Light, durable, easy to use
• Weaknesses– Working with existing MS Word– Scanning faded receipts
• Opportunities– In-store demonstrations (Costco)
• Threats– Competitors who counteract Neat Company’s Weaknesses
Customer SatisfactionN
umbe
r of R
espo
nden
ts
3 4 8 9
• 68% Extremely or Very Satisfied with product(s)
• 80% Extremely or Very Likely to recommend product
Summary• Neat software needs to be more compatible with existing
computer programs• Customers and Neat Company recognize threat of competitors
entering the market• Customers find Neat Company products valuable
– 68% very or extremely satisfied– 80% very or extremely likely to recommend product
• 80% of customers interviewed make up Neat Company’s current and only target market– There is a need to expand into other potential target markets
• 16 out of 25 interviewees use his or NeatReceipt product daily to scan receipts– Target markets need to know more information. NeatReceipts can
scan and read ANY document.
Neat Company Advertising
Neat Company Advertising
• Target Segment•30- 45•Business Travelers
• Consumer Benefit is portability• Expense reporting
•Target Segment•18-29 • In school
• Consumer Benefit – getting organized
• Create advertisements that focus on the customer
• Engage new target markets through advertising• Innovation • Solving existing problems
Summary and Recommendations