Harvard Case - Swagbucks
"Swagbucks" 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 30 page(s) long and it was first published on : Mar 16, 2017
At Fern Fort University, we recommend that Swagbucks pursue a multi-pronged growth strategy focused on international expansion, product diversification, and strategic partnerships to capitalize on its established platform and achieve sustainable growth. This strategy will leverage Swagbucks? existing strengths in technology and analytics, marketing, and user engagement to capture new markets and expand its revenue streams.
2. Background
Swagbucks is a popular online rewards platform that allows users to earn points (?Swagbucks?) by completing various tasks like taking surveys, watching videos, shopping online, and playing games. These points can be redeemed for gift cards, cash, or other rewards. Founded in 2008, Swagbucks has grown rapidly, attracting millions of users worldwide. The company faces challenges in maintaining growth amidst increased competition and evolving user preferences.
The main protagonists of the case study are:
- Scott Kinney: Founder and CEO of Swagbucks, who is seeking to navigate the company?s growth trajectory and ensure its long-term success.
- The Swagbucks Team: A team of dedicated employees working to develop and execute strategies to maintain and expand the platform?s user base and revenue streams.
3. Analysis of the Case Study
Swagbucks? success can be attributed to its disruptive innovation in the rewards platform market. The company successfully leveraged its technology and analytics to create a user-friendly platform that incentivized engagement through a reward-based system. This model has proven effective in attracting and retaining a large user base.
However, the case study highlights several challenges:
- Increased Competition: The rewards platform market is becoming increasingly crowded, with new competitors emerging and established players expanding their offerings.
- Evolving User Preferences: Users are becoming more sophisticated and demanding, seeking more diverse and engaging rewards options.
- Limited International Presence: Swagbucks? primary focus has been on the US market, limiting its potential for global growth.
To address these challenges, Swagbucks can leverage the following frameworks:
- Porter?s Five Forces: Analyzing the competitive landscape reveals the increasing intensity of rivalry, the threat of new entrants, and the bargaining power of buyers. This underscores the need for differentiation and market expansion.
- Ansoff Matrix: Swagbucks can utilize this framework to explore different growth strategies, including market penetration, market development (international expansion), product development (new reward offerings), and diversification (new business models).
4. Recommendations
International Expansion: Leverage Swagbucks? existing platform and technology to enter new markets, particularly in emerging economies with high internet penetration and growing consumer spending. This can be achieved through:
- Localization: Adapt the platform to local languages, currencies, and cultural preferences.
- Strategic Partnerships: Collaborate with local businesses and brands to offer relevant rewards and promotions.
- Targeted Marketing: Utilize data analytics to reach specific user segments in new markets.
Product Diversification: Expand the range of reward options to cater to evolving user preferences and attract new demographics. This can include:
- Experiences: Offer rewards like travel packages, concert tickets, and event passes.
- Digital Goods: Provide rewards like digital subscriptions, online courses, and gaming credits.
- Charity Donations: Allow users to donate their Swagbucks to charitable causes.
Strategic Partnerships: Collaborate with other companies and organizations to expand reach, cross-promote offerings, and create new revenue streams. This can involve:
- E-commerce Platforms: Partner with online retailers to offer cashback rewards and exclusive deals.
- Financial Institutions: Integrate with banks and payment processors to provide seamless redemption options.
- Content Creators: Partner with influencers and content creators to promote Swagbucks and its offerings.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies: Swagbucks? core competencies lie in its technology, analytics, and marketing capabilities, which are essential for successful international expansion and product diversification.
- External Customers: The recommendations cater to evolving user preferences by offering diverse and engaging rewards options.
- Competitors: By expanding internationally and diversifying its product offerings, Swagbucks can differentiate itself from competitors and gain a competitive advantage.
- Attractiveness: International expansion and product diversification offer significant growth potential, increasing revenue streams and market share.
6. Conclusion
By implementing these recommendations, Swagbucks can achieve sustainable growth by leveraging its existing strengths and adapting to the evolving market landscape. The company can capitalize on its established platform and user base to expand its reach, diversify its offerings, and create new revenue streams.
7. Discussion
Alternative strategies include:
- Acquisitions: Swagbucks could acquire smaller competitors or complementary businesses to expand its market share and product offerings.
- Focus on Existing Market: The company could choose to focus on its existing market by enhancing its platform and user experience.
Risks associated with the recommendations include:
- Competition: International expansion and product diversification will increase competition, requiring strategic planning and execution.
- Execution: Successfully implementing these strategies requires strong leadership, effective management, and a well-defined implementation plan.
Key assumptions include:
- Market Demand: There is a sufficient market demand for Swagbucks? services in new markets and for the expanded reward options.
- Technological Advancement: Swagbucks will continue to invest in its technology and analytics capabilities to maintain its competitive edge.
8. Next Steps
- Market Research: Conduct thorough market research to identify promising international markets and potential partners.
- Product Development: Develop and test new reward options to determine user preferences and market demand.
- Partnership Negotiations: Initiate negotiations with potential partners to establish mutually beneficial collaborations.
- Implementation Plan: Develop a detailed implementation plan outlining timelines, responsibilities, and key milestones.
By taking these steps, Swagbucks can successfully navigate the evolving rewards platform market and achieve its growth objectives.
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Case Description
In early 2016, Chuck Davis, chairman and CEO of Prodege LLC, parent company of the brand promotion business Swagbucks, and Josef Gorowitz, Prodege's founder and president, must decide whether to acquire MyPoints, a competitor to Swagbucks, after a significant cultural transformation that the company has just gone through. Over the preceding two years, Davis and Gorowitz had grown Swagbucks from a relatively small venture staffed by people from Gorowitz's personal and professional networks into a professionally managed and rapidly scaling business. This had been no easy task, because Davis had to be careful not to destabilize Prodege's strong culture, which was built around the deeply held religious beliefs of the company's founding employees, many of whom were devout ultra-Orthodox Hasidic Jews, as he introduced change. The culture had resulted in some unique challenges for a growing technology company, such as a requirement that the company shutter its office on Jewish holidays and every week for observance of Shabbat. By 2016, the company was thriving both financially and operationally. Considering the opportunity to acquire MyPoints, which was an established competitor with millions of members, Davis and Gorowitz must determine whether the company's culture is sufficiently robust to integrate another business and its employees.
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