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Team Ramen, IIBC'22, Final Round

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Team Ramen, IIBC'22, Final Round

  1. 1. Team Ramen RedX: The Price of Exponential Growth
  2. 2. Company Overview Services Provided • Last-mile truck service • Monthly invoicing facility • Shipment tracking • FTL • Loading/unloading facility • In case of hazardous products, safe shipment service with insurance • Owned by ShopUp, a full stack B2B commerce platform • Distribution network of 64 districts and 493 thanas • Provides both B2B and B2C services
  3. 3. S O T W • Infrastructurally and financially backed up ShopUp • Large distribution network • Presence in both B2B & B2C • Digital presence and process automation as differentiator • Growing need for streamlined logistics operation • Lack of awareness among businesses as large-scale logistic service provider • Strong presence of established players • Low switching cost
  4. 4. Market Overview No. of Registered Courier Companies Courier Service Industry Market Size No. of Courier Companies in Bangladesh 480 70bn BDT 72 High Involvement Commodity Like
  5. 5. Customer Expectations New Entrants Technology Collaboration vs Competition Market Drivers • Low cost personalized service • Real time visibility • Choice of delivery channels • Streamlines process • Superior customer service • Streamlined supply chains
  6. 6. Market: Growth Potential • No. of Key MAC cities expected to triple from 2015 to 2025 • Middle and affluent population growing at a 12% CAGR in Bangladesh • Digital economy is shaping a new Bangladesh
  7. 7. Competitor Matrix Digital Low market presence Digital Players Digital Leaders Traditional Leaders Traditional High market presence
  8. 8. • Last post about RedX Cargo in LinkedIn was 5 months ago and in Facebook was in November • 18 of the 21 posts about onboarding in the last 11 months were about ecommerce • All onboarding posts in LinkedIn were about SMEs 21 11 7 4 8 Onboardings & Partnerships Occassions & Announcements RedX PR & Advertisements RedX Cargo Others
  9. 9. Customer Journey Mapping Completion of Production Warehousing Need for Logistics Assessing Own Needs Quotation & Comparison • Looking inside the industry • Talking with 3rd Party Vendors • Talking with Industry Professionals & Peers • Traction from Traditional Channels
  10. 10. Customer Journey Mapping Referrals & Offerings Service Agreement Consignment Placement & Tracking Follow-up & Contact Analyze Return & Continuation • Testimonials • Website • Prior Experience • Service Reps & KAM • Other Traditional Media
  11. 11. Issue 1: B2C centric brand presence Issue 2: Gaps in communication and building connections Issue 3: Lack of reference points Problem Identification
  12. 12. Core Issue Lack of a properly targeted large enterprise communication strategy
  13. 13. Target Market Logistical Requirements Firmographics Technographics Large Enterprises with Multi- Regional Network • Enterprises with high volume of sales and production • Having outlets or warehouses in different regions of the country First Mile to Last Mile • First Mile: Factory to Mother Warehouse • Mid Mile: Mother Warehouse to Outlet/Distribution Center • Last Mile: Outlet to Households Technologically Progressive • Willing to or have prior experience of using digital platforms for supply chain management • Easier to reach and onboard and upsell features.
  14. 14. Primary Focus Large Enterprises with high volume of sales/production and multi-regional network requiring logistical solution from the first mile to last mile Secondary Focus Large Enterprises that are technological progressive and have multi-regional network Broad Target Group Large Enterprises Target Market
  15. 15. To Rebrand or Not?
  16. 16. Current RedX Positioning Our Proposed RedX Cargo Positioning Positioning if New Brand Low Focus High Focus Low Trust High Trust RedX Cargo • Promote to enterprises as RedX Cargo • Provide visibility to RedX Cargo as a separate service
  17. 17. RedX Cargo • Helps reposition brand as a company that not only provides last mile delivery but exists at all mile capacities • Aligns with focus group as the tagline suggests utility for all segments of the journey • Creation of social media pages with the name 'RedX Cargo' to avoid communication and brand dilution • Promotion of repositioned communication across socials • Promotion of enhanced communication through magazines
  18. 18. The Big Idea?
  19. 19. Curating Touchpoints, Building Experience.
  20. 20. Action Plan Attract Trade Shows • Partner up with trade shows to provide booth or stall • Increases visibility and generates interest • Prioritizing trade shows of industries requiring last mile delivery"
  21. 21. Action Plan Attract Third Party Partnerships • Improved visibility at a key consumer touch point through branding • Providing workwear for partnered Warehouses • Increases Brand Association with warehouses leading to word of mouth
  22. 22. Action Plan Attract Promotions • Repositioned communication across channels generating awareness • Newspaper articles and promotion on new services and partnerships • Cold mails to enterprises within our targets • Higher focus on LinkedIn
  23. 23. Action Plan Convert Website Funnel • Introduce cost estimator for Enterprise page of website to provide estimates • Integrate FAQ system for the enterprise page with relevant queries • Collect emails of users interacting with website services • SEO to increase reliability through search
  24. 24. Action Plan Convert Testimonials • Static Content of RedX Cargo client testimonial in the website • Video testimonial of Client company manager across social media
  25. 25. Action Plan Convert Targeted Quotations & Pitches • Quotations and Service offerings depending on nature of product, industry, distance of delivery • Targeted pitches focusing on industries and shortlisting potential clients • Brochure outlining services specified for industry
  26. 26. Action Plan Nurture Optimizing Service Delivery • Pre-recorded webinar on use of RedX Cargo service linked to website • Internal employee training and reward system • Newsletter with service delivery insights and potential deals
  27. 27. Action Plan Strengthen Loyalty Programs • Special offers for repeat customers • Bundled offers such as warehousing support, last mile delivery service • Truck branding for long term clients and consumers
  28. 28. Action Plan Strengthen Gift Hampers • Gift hampers and Care Packages sent to C-suite employees on different festivals • Hampers and packages also sent on occasions such as promotion etc.
  29. 29. Monitoring and Evaluation Attract • Change in website traffic • Number of leads generated • Lead generation from target groups Convert • Email list growth rates • Number of marketing qualified leads • Lead conversation rate Nurture • Churn rate • Number of reviews received • Average customer review Strengthen • Monthly recurring revenue • Number of enterprise retentions • Number of bundles availed 3 2 1 4 KPIs
  30. 30. Timeline Q2'2022 Q3'2022 Q4'2022 Q1'2023 Q2'2023 Q3'2023 Q4'2023 Q1'2024 Trade Shows Industry Magazine & Placement 3rd Party Partnerships PR Articles Cold Mails LinkedIn Boosting Agency Costs Website Funnel Testimonial Videos YouTube Boosting Webinars & Inbound Marketing Bundling Budget Gift Hampers
  31. 31. Financials Total Cost 2.30cr BDT No. of Unique Enterprises Leads 660 Expected No. of Leads Closed 46
  32. 32. Big Idea Curating Touchpoints, Building Experiences Core Issue Lack of a properly targeted large enterprise communication strategy Decision Brand repositioning through RedX Cargo Target Market Large Enterprises requiring logistical solution from the first mile to last mile.
  33. 33. Thank you.
  34. 34. Q2'2022 Q3'2022 Q4'2022 Q1'2023 Q2'2023 Q3'2023 Q4'2023 Q1'2024 Total (BDT) Trade Shows 500,000 1,500,000 500,000 1,500,000 4,000,000 Industry Magazine & Placement 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 800,000 3rd Party Partnerships 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 4,000,000 PR Articles 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 2,400,000 Cold Mails 10,000 10,000 LinkedIn Boosting 27,000 27,000 27,000 27,000 27,000 27,000 27,000 27,000 216,000 Agency Costs 150,000 150,000 150,000 150,000 150,000 150,000 150,000 150,000 1,200,000 Testimonial Videos 177,000 177,000 177,000 177,000 708,000 Webinars & Inbound Marketing 800,000 800,000 800,000 800,000 800,000 800,000 4,800,000 Bundling Budget 960,000 960,000 960,000 960,000 960,000 4,800,000 Gift Hampers 45,000 45,000 45,000 135,000 Total 1,087,000 2,554,000 3,599,000 2,837,000 2,037,000 3,514,000 4,559,000 2,882,000 23,069,000 Cost per Reach 1,194 Cost per Lead 34,826 No. of Unique Enterprise Lead 662 Conversion Rate 7% Expected No. of Enterprise Leads Closed 46 Appendix: Financials
  35. 35. Specification No. of units Cost per unit (BDT) Total Cost (BDT) No. of Unique Reach Lead Generation No. of Leads Trade Shows 4 per year 8 500,000 4,000,000 1600 7.00% 112 Industry Magazine & Placement 2 ads per quarter 16 50,000 800,000 1600 5.00% 80 3rd Party Partnerships 20 warehouses 20 200,000 4,000,000 1600 2.00% 32 PR Articles 1 article per month, Business page 24 100,000 2,400,000 3600 3.00% 108 Cold Mails Package of 100,000 mails 1 10,000 10,000 500 2.00% 10 LinkedIn Boosting BDT 9000 package per month 24 9,000 216,000 480 3.00% 14 Agency Costs BDT 50000 per month 24 50,000 1,200,000 Testimonial Videos Video Production 12 videos, BDT 50000 each 12 50,000 600,000 1800 2.00% 36 Social Media Boosting BDT 9000 package focusing on 3rd, 4th Quarter 12 9,000 108,000 Webinars & Inbound Marketing BDT 200000, for each month 24 200,000 4,800,000 3600 3.00% 108 Bundling Budget Lumpsum 24 200,000 4,800,000 3600 4.00% 144 Gift Hampers Focusing on 4th Quarter 180 500 90,000 900 2.00% 18 Total 23,024,000 19280 662 Appendix: Financials

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