Target markets and user groups
In 2018, we contracted M&C Saatchi (London, UK) and The Source (London, UK) to perform a qualitative research study to explore the levels of interests and appeal in the app, analyze the understanding of the app, identify key benefits and perceived use cases, identify potential barriers to uptake (and strategies to overcome them), and identify potential buyer (target) groups. A number of focus-groups were thereto conducted. Following this qualitative research, M&C Saatchi Intelligence performed a data-driven, quantitative research study aimed at selecting the target regions (geographies) for market launch and commercial roll-out of both the Lexigogo app and a future PaaS offering. The study comprised a comprehensive con-joint and regression analysis based on a 62 high-quality input metrics (across six pillars). Based on this model, two lists of fertile launch-markets were delivered, one for the Lexigogo app and one for PaaS solution.
Based on the above research studies as well as on the first user feedback, we have selected the United Kingdom and the United States as our initial target geographies and decided to target our Go-to-Market strategy towards three user groups:
- Millennials. Referring to the younger generation, age 20 to 35, who are swift technology adopter, very familiar with creating and watching online videos and want things the easy, fast and instant way.
- Businesses. Referring to small and medium-sized companies (including one party companies) that do not have in-house capacity or resources available to develop or integrate video-contracting technology and wish to use the Lexigogo app to improve their productivity and/or customer services.
- Corporates. Referring to large, multinational companies preferring to integrate the Lexigogo video-contracting technology into their proprietary applications and platforms (‘keeping the customer in-app’). This is also known as the PaaS-model.
Our Go-to-Market strategy is composed of two parts: digital marketing (online) to promote the Lexigogo app among Millennials and businesses, and business development (offline) to explore possible collaborations with large corporates on the video-contracting technology (PaaS solution). The objective for 2019 is to attract 50,000 users on the Lexigogo app and get an early ‘buy-in’ on the PaaS concept from at least one large corporate. Achieving these objectives will both validate the overall Lexigogo concept and support the closing of a Series A financing round early next year.