Problem:
There is a wide gap between customer expectations and business products/services due to the difficulties in getting the VOC (voice of customer) and measuring the customer satisfaction rates.
Surveys are not accurate because of the low sample size compared to the actual customers number, also reviews on social media are not indicative for the same reason plus they might be biased by false positive/negative feedback.
Product/Service:
We will create a mobile app and a website in which every customer will have an account and he can rate and evaluate products/services by answering specific questions based on his own experience
Also every customer will be able to review the ranking and customer satisfaction of these products/services prior to purchasing.
Target customers:
Mostly all types of business such as: Retail markets, Restaurants, Fashion, Health Clubs, Hotels, Theaters, Car Service Centers... etc.
We will begin with the retailers and restaurants then we will expand to the other sectors.
Geographical target market:
We will start with Egypt then we will expand to GCC countries till we can cover the entire Middle East region.
Values/Innovation (Customer aspect):
1. All rankings/ratings can be found in one place where they are sorted according to the type of products/services and also according to the period of time (within the same week, month, overall).
2. Participants will be motivated by geting points for each evaluation they make and they can use these points to get discounts/free vouchers at any of the partner organizations.
Values/Innovation (Business aspect):
1. "Big data" will be collected and analyzed and that will give more credibility and accuracy in the customer satisfaction results.
2. Business will get a clearer picture about their performance which will help in the SWOT analysis as a part of the improvement process.
Revenues:
1. Ads on the website and mobile app.
2. Commission from marketing campaigns' deals.
3. Sponsorship.
4. Partnerships.
5. Fees for the development and analysis of market research surveys/questionnaires.
6. Business development consultations.
Timeline:
1. Investigation: 1/11/2017 - 30/11/2017 (Completed)
2. Planning: 1/12/2017 - 31/1/2018 (In progress)
3. Design: 1/2/2018 - 31/3/2018
4. Implementation: 1/4/2018 - Ongoing
5. Evaluation and Improvement: 1/7/2018 - Ongoing
Growth plans:
The project can be expanded by many ways such as:
1. Enrollment of new companies/new lines of business.
2. Adding customized market research surveys with extra fees.
3. Business consultancy fees.
4. Development of other applications.
Challenges:
1. Financial: Cost of designing, marketing, maintenance...etc.
2. Technical: Development and Maintenance of a powerful app and website.
3. Human: Engagement of customers and the Buy-in of Business owners.
Competitors:
1. Market Research Companies: characterized by taking a small sample size in most of their activities.
2. Customer Satisfaction Surveys: few people participate in such activities.
3. Reviews on Social Media Groups and Pages: some people get paid to give fake reviews, small no. of people participate and usually they share their experience only when they have a complaint.