VIRGINIA CONSULTING GROUPTRAINING 9/21/16

Semester Outlook

Technical Workshops

Mid-Semester Presentations

Mock Interviews

2016

October 14th

Professor Lecture Event

Final Presentation

s

2016 2016 2016 2016

Early October Mid October Mid-October – Early-November November 30th

• Due October 16th

• Report consisting of SWOT and Porter’s analysis

• Summarize progress made and present plans for the rest of the semester

FINAL DELIVERABLE

• Due December 4th

• Detailed summary of the semester’s projects sent to client and reflection of progress made during project

SCOPING DOCUMENTS

Quick Business Do’s and Don’ts

Lesson One. What do I wear?

DON’TS

LESSON TWO. HOW DO I TALK TO MY CLIENT?

DO’S

• Make eye contact

• Shake hands upon first meeting and at departure

• Maintain an open posture

• Keep a neutral or upbeat tone

▪Try not to let frustrations shine through (express them with your PL later)

DON’TS• Do not ask overly personal questions – they are not your friend, they are your

client

• Try to avoid starting a question with “why” – it can come off as accusatory

• Do not look around the room when they are speaking – they should be the focus

of your attention

• Phones are put away unless asked to use them

Scenario

The year is 2010. Venmo just raised their seed round and are looking to expand their market share and increase revenue. Hired as consultants, we need to give them strategies that clearly and effectively help Venmo reach their goals.

You have 10 minutes to discuss with your teams and come up with a strategies. How would you go about solving this? What research tools would you use? Go!

WHAT DO YOU DO?

• Social media marketing

• Google paid search marketing

• Reassess pricing

• Strategic partnerships

POSSIBLE SOLUTIONS

• Vemno is a social app, targeting a customer base through Facebook or Twitter would be a great way to build a following.

• Should look at user data (to see which current users are on social media), determine age groups to target, see competitors and how much of their traffic comes from social sources, etc…

WHAT DOES SOCIAL MEDIA MARKETING LOOK LIKE?

GOOGLE PAID SEARCH MARKETING?

• Important for accessing a wide variety of people• Look at platform data, see who users are, what types of users have more

revenue-generating transactions, target their demographics, find popular keywords such as “payment platform” or “cash transfer”

• See drop off rate, if people use app for short amount of time, there may be something wrong with User Experience (focus groups, user testing)

REASSESS PRICING

• Repricing the service could generate more revenue. But, don’t want transaction numbers to drop.

• See industry data/competitor pricing. See willingness to pay through focus groups, surveying, etc…

• Which services (Venmo credit card vs. debit card transfers) have more elastic vs. inelastic demand?

STRATEGIC PARTNERSHIPS

• Integration with Amazon or other online retailers (even industry specific, ex: online gaming, groceries, etc…) to push purchases through Venmo system.

• See industry trends, analyzed transaction data and fee structures using R/Tableau to see which may have the highest margin transactions over the next few years.

USEFUL RESOURCES

• Google forms - Customer discovery

• Google analytics/adwords - Digital analytics and marketing• Tableau - Data visualization• Excel - Data analysis• R - Data analysis and visualization• Graphic design tools (Illustrator, Vengage…)• Bootstrap - Front end web development• Lynda.com• Crunchbase - Venture Capital research• SimilarWeb - Web/App traffic analysis