Harvard Case - Scaling Swagbucks (A)
"Scaling Swagbucks (A)" Harvard business case study is written by Jeffrey Rayport, Matthew Preble. It deals with the challenges in the field of Entrepreneurship. The case study is 22 page(s) long and it was first published on : Jan 29, 2018
At Fern Fort University, we recommend that Swagbucks pursue a hybrid growth strategy focusing on organic growth through enhanced user experience and expanded reward options, alongside strategic acquisitions of complementary businesses. This approach will leverage Swagbucks' existing strengths in user acquisition and engagement while expanding its reach and revenue streams.
2. Background
Swagbucks is a popular online rewards platform that allows users to earn points (Swagbucks) by completing various online activities such as taking surveys, watching videos, shopping online, and playing games. The company faces the challenge of scaling its business while maintaining profitability and user engagement. The case study explores various options for Swagbucks to achieve its growth objectives.
The main protagonists of the case study are:
- Scott Kinney: Founder and CEO of Swagbucks, responsible for the company?s overall strategy and direction.
- Chuck Davis: Chief Operating Officer, responsible for the day-to-day operations and execution of Swagbucks? business plan.
- The Swagbucks Team: A dedicated team of employees working to develop and implement the company?s growth strategies.
3. Analysis of the Case Study
The case study can be analyzed using the Porter?s Five Forces framework to understand the competitive landscape and identify potential growth opportunities:
- Threat of New Entrants: The online rewards industry is relatively easy to enter, posing a moderate threat. However, Swagbucks enjoys a strong brand reputation and established user base, creating a barrier to entry.
- Bargaining Power of Buyers: Users have many alternative reward platforms, giving them moderate bargaining power. Swagbucks needs to offer competitive rewards and maintain high user satisfaction to retain its customer base.
- Bargaining Power of Suppliers: Suppliers of rewards and services are numerous, giving Swagbucks moderate bargaining power. However, securing exclusive deals with key suppliers could enhance its competitive advantage.
- Threat of Substitute Products: Other reward platforms and online entertainment options pose a significant threat to Swagbucks. The company needs to continuously innovate and adapt its offerings to remain relevant.
- Competitive Rivalry: The online rewards industry is highly competitive, with numerous players vying for users? attention. Swagbucks needs to differentiate itself through unique offerings, strong branding, and effective marketing strategies.
4. Recommendations
Swagbucks should pursue a hybrid growth strategy combining organic growth and strategic acquisitions:
Organic Growth:
- Enhance User Experience: Improve the platform?s usability, navigation, and responsiveness to enhance user satisfaction and engagement.
- Expand Reward Options: Offer a wider range of rewards, including gift cards, travel packages, and exclusive experiences, to appeal to diverse user preferences.
- Develop Targeted Marketing Campaigns: Implement data-driven marketing campaigns to reach specific user segments and drive targeted acquisition.
- Leverage Technology and Analytics: Utilize data analytics to understand user behavior, optimize platform performance, and personalize user experiences.
Strategic Acquisitions:
- Acquire Complementary Businesses: Identify and acquire businesses that complement Swagbucks? existing offerings, such as online shopping platforms, social media networks, or loyalty programs.
- Expand International Presence: Acquire businesses in emerging markets to expand Swagbucks? global reach and tap into new user segments.
- Enhance Technology Capabilities: Acquire companies with advanced technology capabilities, such as data analytics, artificial intelligence, or mobile app development, to enhance Swagbucks? platform and offerings.
5. Basis of Recommendations
This recommendation considers the following factors:
1. Core Competencies and Consistency with Mission: Swagbucks? core competencies lie in user acquisition, engagement, and reward delivery. The recommended strategy leverages these strengths while expanding into new areas.2. External Customers and Internal Clients: The strategy focuses on enhancing user experience and offering a wider range of rewards to cater to diverse customer needs.3. Competitors: The strategy aims to differentiate Swagbucks from competitors by expanding its offerings, leveraging technology, and pursuing strategic acquisitions.4. Attractiveness - Quantitative Measures: The strategy is expected to drive increased user acquisition, engagement, and revenue, leading to improved profitability and shareholder value.
Assumptions:
- The online rewards market will continue to grow.
- Swagbucks can successfully acquire and integrate complementary businesses.
- The company can effectively leverage technology and analytics to enhance its offerings and operations.
6. Conclusion
By pursuing a hybrid growth strategy, Swagbucks can leverage its existing strengths, expand its reach, and maintain its competitive advantage in the evolving online rewards market. This approach will enable the company to achieve sustainable growth and profitability while delivering value to its users and shareholders.
7. Discussion
Alternatives not selected:
- Purely Organic Growth: This approach would focus solely on internal growth initiatives, which might be slower and less impactful in a highly competitive market.
- Large-Scale Acquisition: This approach could be risky and expensive, requiring significant capital investment and integration challenges.
Risks and Key Assumptions:
- Integration Challenges: Acquiring and integrating new businesses can be complex and time-consuming.
- Market Volatility: The online rewards market is subject to rapid changes and competition, which could impact Swagbucks? growth trajectory.
- Technology Disruption: Emerging technologies could disrupt the online rewards industry, requiring Swagbucks to adapt quickly.
8. Next Steps
- Develop a detailed strategic plan: Outline specific initiatives, timelines, and resource allocation for organic growth and acquisitions.
- Conduct due diligence on potential acquisition targets: Assess their financial performance, market position, and integration potential.
- Secure funding: Secure necessary capital for acquisitions and organic growth initiatives.
- Implement marketing campaigns: Launch targeted campaigns to attract new users and promote expanded offerings.
- Monitor performance: Regularly track key performance indicators (KPIs) to assess the effectiveness of the growth strategy and make adjustments as needed.
By taking these steps, Swagbucks can position itself for continued success in the dynamic online rewards market.
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Case Description
In mid-2014, Chuck Davis, chairman and CEO of Prodege LLC, parent company of the brand promotion business Swagbucks, is just a few weeks into his new role as the company's CEO. He has been tasked with helping the promising young company scale, something he has done successfully during prior stints as CEO at other young companies, but this situation presents him with some unique challenges. Prodege has a strong culture built around the deeply held religious beliefs of the company's founding employees, many of whom are devout ultra-Orthodox Hasidic Jews. This has resulted in some unique situations for a growing technology company, such as the company closing its office on Jewish holidays and for Shabbat. Davis is keen to quickly implement the changes that he believes need to be made for the company to grow, but he also recognizes the need to be careful not to upset the company's culture and potentially upset what had made the business special in the first place. How quickly should he move and how should he stage his actions?
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