Jetty Project Research
The major problem I faced with this project was how to bring a Swedish company to the United States. This issue had many layers of complexity to it. The following sections detail out some highlights from my research. The full deliverable included a seventy page research paper, oral presentation, and slide deck.
The following steps detail out my process for identifying Jetty's TAM, SAM, and target U.S. market, as well as the framework for a new business model.
Step 1: Competitor Analysis
The first step of the process was to identify the Jetty's direct, indirect, and future U.S. competitors. A total of 32 competitors were identified with 8 being direct competitors. After the competitors were identified I conducted detailed company reviews and audits. Reviews involved developing company profiles which consisted of size, age, features, reach, number of clients, strengths and weaknesses. After profiles were developed I conducted audits on each company's websites, social media, marketing, customer service, SEO, and copy. Below are examples of the results of two of the audits conducted.
Step 2: Market Research
I then archived the location, size, revenue, and type of Jetty's TM across the United States. I created a interactive market map for the company using the data visualization tool Tableau. Below is a screen shot of the market analysis map. Compiling the TM info into a interactive map helped me identify the regional clusters and possible expansion points.
Step 3: Customer Segments
After I identified the market clusters I developed customer profiles for those areas. My research concluded that all Jetty's customers fall within the three following customer segments.
I then analyzed each silo's customer profile to identify unique pinpoints, wants, and needs. I concluded that the silos followed a simple customer journey of four stages. Jetty;s product was not being considered until the third stage of the process. I learned that Jetty and it's competitor were all being considered at the same point in the customer journey.
Ultimately I found ways for Jetty to leverage its current offerings in a way that would allow them to leapfrog their competitors in the current customer journey. This strategy was based in finding commonalities of the three silos and four stages. I called this shift in the business model Jetty Mobile.