Harvard Case - Meetup
"Meetup" Harvard business case study is written by Mikolaj Jan Piskorski, David Chen. It deals with the challenges in the field of Strategy. The case study is 28 page(s) long and it was first published on : Jan 11, 2010
At Fern Fort University, we recommend Meetup focus on a multi-pronged strategy to achieve sustainable growth. This involves leveraging its existing strengths in community building and social interaction, expanding into new markets through targeted acquisitions and partnerships, and embracing digital transformation to enhance user experience and monetization. This strategy will enable Meetup to capitalize on the growing demand for authentic human connection in a digital world, while navigating the challenges of a competitive landscape and evolving user preferences.
2. Background
Meetup is a platform that connects people with shared interests through local events and groups. The case study highlights the company's struggle to maintain growth and profitability in a rapidly evolving digital landscape. The main protagonists are Scott Heiferman, Meetup's founder and CEO, and the company's leadership team, who face the challenge of adapting their business model to remain competitive.
3. Analysis of the Case Study
To analyze Meetup's situation, we can utilize several frameworks:
- Porter's Five Forces:
- Threat of New Entrants: High, due to the low barriers to entry in the online community space.
- Bargaining Power of Buyers: Moderate, as users can easily switch between platforms.
- Bargaining Power of Suppliers: Low, as Meetup relies on a decentralized network of organizers and participants.
- Threat of Substitutes: High, with numerous online platforms offering similar functionalities.
- Competitive Rivalry: High, with established players like Facebook and Eventbrite vying for users.
- SWOT Analysis:
- Strengths: Strong brand recognition, established user base, robust community features, data-driven insights into user interests.
- Weaknesses: Limited monetization options, dependence on user-generated content, potential for platform misuse, lack of global reach.
- Opportunities: Expansion into new markets, development of niche communities, integration with social media platforms, monetization through premium features and partnerships.
- Threats: Increased competition from established players, evolving user preferences, data privacy concerns, potential for platform misuse.
- Value Chain Analysis:
- Primary Activities: User acquisition, event organization, platform management, community moderation, revenue generation.
- Support Activities: Technology development, marketing and branding, customer support, data analytics.
4. Recommendations
To address Meetup's challenges and capitalize on its opportunities, we recommend the following:
1. Business Model Innovation:
- Diversify revenue streams: Explore new revenue models beyond membership fees, such as event ticketing, sponsored events, premium features, and data analytics services for businesses.
- Develop a strong value proposition: Emphasize Meetup's unique focus on authentic human connection and its ability to foster meaningful relationships.
- Leverage data analytics: Use data to personalize user experiences, recommend relevant events, and identify potential growth opportunities.
2. Strategic Expansion:
- Target niche markets: Identify specific interest groups and demographics with high growth potential and tailor offerings to their needs.
- Strategic acquisitions: Acquire smaller, specialized platforms or companies to expand reach and capabilities.
- Strategic alliances: Partner with complementary businesses, such as travel agencies, local businesses, or non-profit organizations, to cross-promote services and expand reach.
3. Digital Transformation:
- Enhance user experience: Improve platform usability, personalize content, and integrate with social media platforms.
- Develop mobile-first strategy: Optimize the platform for mobile devices and leverage location-based services.
- Embrace AI and machine learning: Use AI to personalize event recommendations, automate tasks, and improve platform security.
4. Globalization Strategies:
- Expand into emerging markets: Identify regions with high growth potential and adapt offerings to local cultures and preferences.
- Develop localized content: Translate platform content and features into multiple languages.
- Partner with local organizations: Collaborate with local businesses, non-profits, and government agencies to promote Meetup's services.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Meetup's core competency lies in its ability to build and manage online communities. This strategy leverages this strength while expanding into new markets and revenue streams.
- External customers and internal clients: The recommendations focus on enhancing user experience, providing value to organizers, and attracting new customers.
- Competitors: The strategy aims to differentiate Meetup from competitors by focusing on its unique value proposition and leveraging its strengths in community building.
- Attractiveness ' quantitative measures if applicable: The recommendations are expected to lead to increased user engagement, revenue growth, and improved profitability.
6. Conclusion
By embracing innovation, strategic expansion, and digital transformation, Meetup can overcome its current challenges and achieve sustainable growth. The company's focus on authentic human connection and its ability to build strong communities will continue to be its key competitive advantage in a world increasingly reliant on digital platforms.
7. Discussion
Other alternatives not selected include:
- Focusing solely on organic growth: This approach would be slow and may not be sufficient to compete with established players.
- Merging with a larger competitor: This could lead to loss of control and brand identity.
The key risks associated with the recommended strategy include:
- Competition from established players: Meetup needs to differentiate itself and offer unique value to users.
- Evolving user preferences: The company needs to stay ahead of the curve and adapt its offerings to changing user needs.
- Data privacy concerns: Meetup needs to be transparent and responsible in its use of user data.
8. Next Steps
The following steps should be taken to implement the recommended strategy:
- Develop a detailed strategic plan: Define specific goals, timelines, and resource allocation for each initiative.
- Invest in technology and data analytics: Upgrade infrastructure and develop new tools to support the strategy.
- Build a strong leadership team: Recruit and develop talent with expertise in digital transformation, globalization, and community management.
- Monitor progress and adjust as needed: Track key metrics and make adjustments to the strategy based on performance.
By taking these steps, Meetup can position itself for long-term success in the evolving digital landscape.
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Case Description
Meetup, an on-line company providing means of arranging face-to-face meetings, is deciding between two options of increasing its revenue by investing to: (i) increase new sign ups, (ii) improve the engagement of existing users.
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