Overview
Tasks:
Changing a business model from selling partner materials, interviews and special projects to a full-scale luxury event agency.
Duration:
01.2020 ‒ 11.2020
Target audience
Large and medium-sized business owners and their families, who appreciate personal contact and are open to new opportunities. This is conservative generation X, preferring face-to-face communication (meeting friends, taking walks, spending time with family) to online events. While they use new technologies easily, their main priority is people. They tend to have an active lifestyle, so they treat offline events as recreation, even the business-related ones.
Implementation
At the beginning (January 2020) the company chose to specialize in premium offline events, where partners can introduce their special products and services to clients.
The issue was a lack of understanding of how to change a business model, what exact actions should be taken and what are the terms. Therefore, I took the next steps:
- calculated a business plan;
- developed a growth strategy, a brand platform and a road map including deadlines;
- generated offers for current partners according to their goals;
- developed TOV;
- run social media accounts:
- created a content plan;
- generated content;
- proofread articles;
- taught SMM standards and principles to the community manager.
- updated the website content, making it more useful for clients:
- organized the work of writers and copywriters;
- created a content plan and oversaw its execution;
- generated content along with the picture editor and the web developer.
- organized meeting and interviews with partners;
- developed a basic project strategy that can be adjusted to every client according to their goals and demands:
- analyzing audience demands (through direct communication and social media posts);
- pre-event warmups (articles, interviews, market researches, different types of social media content);
- holding an event or event series (lectures, workshops, business brunches, master classes);
- collecting and analyzing feedback.
- managed the record keeping.
Results
- creation of a new business model that provided access to hybrid audience interactions for Family Office partners:
- special projects serving as event warmups;
- events allowing partners to meet clients, conduct in-depth interviews and obtain a deeper analysis of audience demands and feedback, which we provided;
- successful collaboration with: Ukrgasbank, the legal company “Strateg”, the alternative school “SchoolinG”, the cottage town “Riviera Villas”, the legal company “Legal house” etc.;
- due to the newly developed communication standards and taking client interests and demands into account, Family Office partners could successfully convert event participants into clients;
- the issue of the target audience being conservative was resolved by continuous work improvement and close communication with the audience;
- 3 months past a covid wave signified a rise in client activity: after we tested and evaluated the new event format, Family Office held a great number of conferences, workshops and other online events;
- achieving more effective, in-depth audience interaction due to offline events and face-to-face communication between partners and audience.
As soon as Family Office began implementing the new business model, Covid hit. We tried switching to online events, but since the audience was quite conservative, the partners weren’t fully satisfied with the outcomes (e.g. event attendance).
The owners decided to change a business model once more, but didn’t have any specific ideas. So, we came up with Family Club — a paid space for the whole family.
