Harvard Case - eLance.com: Preventing Disintermediation
"eLance.com: Preventing Disintermediation" Harvard business case study is written by Scott Schneberger, Ken Mark. It deals with the challenges in the field of Information Technology. The case study is 9 page(s) long and it was first published on : Feb 27, 2001
At Fern Fort University, we recommend that eLance.com implement a multifaceted strategy to combat disintermediation and secure its position as a leading online talent marketplace. This strategy will involve a combination of digital transformation, innovation, and strategic partnerships to enhance its platform, attract and retain talent, and ultimately provide a superior user experience for both freelancers and clients.
2. Background
eLance.com, a prominent online platform connecting freelancers with clients for various projects, faces the threat of disintermediation. This arises from the increasing emergence of direct client-freelancer relationships, bypassing the platform and its associated fees. The case study highlights eLance's need to adapt and evolve to remain competitive in this dynamic market.
The main protagonists in this case are:
- eLance.com: The online platform striving to maintain its relevance and market share.
- Freelancers: The talent pool eLance relies on, who are increasingly seeking alternative avenues for finding work.
- Clients: The businesses and individuals who utilize eLance to find freelancers, who are also looking for cost-effective and efficient solutions.
3. Analysis of the Case Study
To analyze eLance's situation, we can utilize the Porter's Five Forces framework:
- Threat of New Entrants: High, due to the ease of establishing online platforms and the growing demand for freelance services.
- Bargaining Power of Buyers (Clients): Moderate, as clients have access to multiple platforms and can directly engage with freelancers.
- Bargaining Power of Suppliers (Freelancers): High, as freelancers can choose from various platforms and directly connect with clients.
- Threat of Substitute Products: High, as alternative platforms and direct engagement methods are readily available.
- Competitive Rivalry: High, with numerous competitors vying for market share in the online talent marketplace.
This analysis reveals that eLance operates in a highly competitive and dynamic environment, where disintermediation poses a significant threat to its long-term viability.
4. Recommendations
eLance should implement the following recommendations to combat disintermediation and secure its future:
1. Enhance Platform Functionality:
- Digital Transformation: Invest in a comprehensive digital transformation strategy, leveraging cloud computing, data analytics, and AI and machine learning to enhance platform functionality.
- Personalized Matching: Implement AI-powered algorithms to match freelancers with client projects based on skills, experience, and preferences, improving project success rates and client satisfaction.
- Skill Verification and Certification: Introduce a robust system for verifying freelancer skills and providing industry-recognized certifications, building trust and credibility for both freelancers and clients.
- Integrated Communication and Collaboration Tools: Integrate communication and collaboration tools within the platform, facilitating seamless project management and communication between freelancers and clients.
2. Foster a Strong Freelancer Community:
- Value-Added Services: Offer value-added services to freelancers, such as professional development opportunities, networking events, and access to exclusive resources.
- Community Building Initiatives: Encourage community building through forums, groups, and events, fostering a sense of belonging and loyalty among freelancers.
- Reward and Recognition Programs: Implement reward and recognition programs to incentivize high-performing freelancers and encourage continued engagement with the platform.
3. Strategic Partnerships:
- Industry-Specific Platforms: Partner with industry-specific platforms to expand reach and target niche markets, attracting specialized talent and clients.
- Educational Institutions: Collaborate with educational institutions to connect with emerging talent and provide career development opportunities.
- Professional Organizations: Partner with professional organizations to offer exclusive benefits and access to their member networks.
4. Enhance Client Experience:
- Simplified Project Management: Streamline project management processes, providing intuitive tools and resources for clients to manage projects efficiently.
- Customer Relationship Management (CRM): Implement a robust CRM system to personalize client interactions, track project progress, and address client concerns promptly.
- Transparent Pricing and Payment: Ensure transparent pricing models and secure payment processing, building trust and confidence among clients.
5. Data-Driven Decision Making:
- Data Analytics: Leverage data analytics to understand user behavior, identify trends, and optimize platform features and services.
- Business Intelligence: Implement business intelligence tools to track key performance indicators (KPIs) and measure the effectiveness of implemented strategies.
- Data-Driven Insights: Use data-driven insights to inform strategic decisions, optimize resource allocation, and enhance platform performance.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with eLance's core competency of connecting freelancers with clients and its mission to create a thriving online talent marketplace.
- External Customers and Internal Clients: The recommendations prioritize the needs of both external customers (clients) and internal clients (freelancers), ensuring a positive experience for all stakeholders.
- Competitors: The recommendations address the competitive landscape by offering unique value propositions and differentiating eLance from its competitors.
- Attractiveness ' Quantitative Measures: The recommendations are expected to improve platform usage, increase revenue, and enhance user satisfaction, leading to positive financial outcomes.
- Assumptions: The recommendations assume a willingness on the part of eLance to invest in technology, innovation, and strategic partnerships to drive long-term growth and success.
6. Conclusion
By implementing these recommendations, eLance can effectively combat disintermediation, enhance its platform, attract and retain talent, and ultimately secure its position as a leading online talent marketplace. This multi-pronged approach will enable eLance to thrive in a dynamic and competitive environment, ensuring its long-term success.
7. Discussion
Other alternatives not selected include:
- Merging with a Competitor: This option could provide economies of scale and a larger user base but may involve significant challenges in integrating systems and cultures.
- Focusing on Niche Markets: This option could target specific industries or skillsets but may limit growth potential and market reach.
Risks and Key Assumptions:
- Investment Costs: Implementing these recommendations will require significant investment in technology, infrastructure, and personnel.
- Competition: The online talent marketplace is highly competitive, and new entrants may continue to emerge, posing ongoing challenges.
- User Adoption: The success of these recommendations depends on user adoption and engagement with the enhanced platform and services.
8. Next Steps
eLance should implement the following timeline to achieve its goals:
- Phase 1 (Short-Term): Focus on enhancing platform functionality and improving the user experience for both freelancers and clients. (6-12 months)
- Phase 2 (Mid-Term): Implement strategic partnerships and expand reach into new markets. (12-24 months)
- Phase 3 (Long-Term): Continuously invest in innovation, data analytics, and platform optimization to maintain a competitive edge. (Ongoing)
By taking these steps, eLance can transform itself into a more robust and resilient platform, effectively combating disintermediation and securing its position as a leading player in the online talent marketplace.
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Case Description
eLance.com allowed buyers to find sellers for time-sensitive project work without limiting bids to sellers within the vicinity of the buyer's physical office. It was just finishing the beta test of its site which had facilitated over 30,000 transactions in the past year. eLance was in the midst of closing its second round of venture financing which would allow it to execute its plan to become the premier online global services marketplace. To do this, it needed to prevent disintermediation - instances when eLance buyers and sellers, after being introduced on the eLance site, decide to conduct future project-related transactions offline. This would prevent eLance from mediating these transactions and gaining revenue from them. eLance had already implemented several customer-focused onsite and offline features to deter disintermediation. The co-founder and vice-president of business development had to determine what incentives were needed to keep customers dealing with each other through the site rather than offline.
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