Business Analysis
The keystone to business growth is a strong understanding of operational processes and a clear action plan.
Product Pricing Strategy | E-commerce Conversion Funnel | Market Segmentation | Drip Campaign Analysis
Product Pricing Strategy
Situation
Continual concern and anxiety around meeting monthly EBITDA goals for education e-commerce site RN.com.
Objectives
Assess market price point positioning.
Action
Proposed and received chief nursing officer (CNO) approval of a 25% membership price increase with subsequent increases scheduled. Promoted pricing in monthly increments, instead of annually, to match trending subscription pricing models.
Result
Maintained a member retention rate of 98%. Surpassed EBITDA for all subsequent months.
E-commerce Conversion Funnel
Situation
Launch of first e-commerce purchase funnel for insurance products in North America.
Objectives
Discern industry best practices for e-commerce user experience to evolve business practices and successfully launch new business distribution models.
Action
Completed a competitor analysis of comparable offerings in the market. Discovered US legal requirements unknown to Canadian PMO and expertly proposed and applied legal solutions to comply with federal EFTA e-commerce laws.
Result
Aligned with US and Canadian marketplace expectations. Expedited project timeline by establishing market baseline expectations, surpassing vendor out-of-the-box recommended processes.
Market Segmentation
Situation
Lack of customer-focused market segmentation. Claims, Sales, Underwriting, and Marketing were all using different systems.
Objective
Create a marketing segmentation system reflective of consumer behaviors, to advance previous underwriting qualification targeting.
Action
Proposed use of the Core Based Statistical Area (CBSA) system established by the US Census Bureau.
Result
A free data system that continually updates based upon geography, markets shared economies, and citizens’ behaviors.
A system that can expand beyond California borders when Wawanesa operations are ready to do so.
Drip Campaign Analysis
Situation
Lack of lead follow-up and conversion campaigns or practices.
Objectives
Discern industry re-targeting trends to convert leads across all prospecting touch-points.
Action
Implemented a competitor investigation and distilled findings into actionable enterprise-level recommendations.
Result
Incorporated easy-wins from the analysis that included direct mail and e-mail schedule. Full incorporation of proposed creative copy direction. Saw a positive increase in customer satisfaction with new communication practices. (Per JDP annual survey)
