Periodic Reporting for period 1 - EVENTADAPT (EVENTS ADAPTABLE SOFTWARE)
Reporting period: 2018-09-01 to 2019-02-28
Event management software solutions currently available are offered as either standard solutions or customizable but expensive ones. In most cases, the service is not actually tailored to the needs of the customers, only the communication messages. Last2Ticket proposes to revolutionize the industry, by offering a cost effective, flexible and transparent solutions especially suited for SMEs needs. Whilst event registration and marketing software already confer some high-quality support by removing uncertainty and inefficiency while maximizing revenue, event organizers needs still vary widely dependent on their segment. Cost-effective, flexible solutions ensure SMEs are the ones left behind on this digitalization trend. The main goal of this project was to validate key aspects relating to the business model’s value proposition, market potential, technical feasibility and commercial viability and put together a plan for the project implementation.
During the project we i) performed a market assessment looking to understand the various customer segments’ needs; calculated potential number of customers; estimated customer lifetime value; perform a competitive benchmarking; ii) developed a go-to-market strategy and put together a marketing plan and budget; iii) defined the value proposition and business model having designed an approach to the user experience of the customization of the subscription plans; iv) assessed the technical feasibility of the project through a MVP and put together a development roadmap; v) built a business plan taking into consideration the resources needed and revenue forecast for the project.
Last2Ticket’s flexible approach to event management software supply shall allow SMEs to enjoy the same productivity and bottom line benefits enterprise event management offer to large corporate customers. Whilst we expect to be able to offer cost savings in compared to these competitive solutions, cost effectiveness per se does not seem to be the key driver for customers when choosing to tailor their solution, but more the flexibility of adapting the service to their needs. We expect to bring the benefits of this approach to over 50 thousand SME customers over 5 years.