During SME instrument phase 1, we have focused in our Euripean expansion over Germany, France, The Netherlands, Italy and UK. We successfully tested our business model across our key partners/customers (making agreements) and users. We offer a win-win deal to competitions organizers allowing them to acquire customers to their events.
We invested in our customer acquisition strategy: We have 50.000 followers. 20.000 are active users with an average ticket of 20 euros. This volume has grown by 200%. According with these metrics, we expect to acquire 1,6M users by 2018 and more than 6M users by 2020, decreasing the cost of acquiring new users, due to economies of scale.
We completed a SWOT Analysis and Risk Assessment, our conclusions are:
External analysis: Favorable. The good habits (including sport and running) will enhance by the private and public entity across Europe.
Also, the digital transform is a key driver. People use most of the time tech in their lives, including when they are playing sports or training.
The results of the market and internal analysis:
- Tech Obsolescence: The likely obsolescence of the product must be considered as a risk. The measure to mitigate it: RunIN ecosystem design will take into account the needed scalability to arrive to the market first. The achievement of additional investment/funds will allow speeding the market arrival and expansion.
- Market Adoption: Clients might be reluctant to adopt the solution at the beginning. RunIN already tested & validated different vertical solutions. Customers’ needs have been collected.
- Competitiveness - Competitiveness of the solution. The competitiveness will be ensured by devoting resources to watch over the evolution of the market and act accordingly, and, of course, having an ambitious roadmap to go beyond competitors and integrating them into the unique ecosystem
- Customer acquisition - Low customer acquisition. There are many partial solutions to the users. Our efforts should be focusing on promotion to enhance our user acquisition.
