Bounce Fitness Company has now accepted that increasing their cash flow is important for sustained growth and to support a wider strategic goal of global market penetration. To this end they are looking to move further on their customer engagement strategy by exploring the potential revenue opportunities within their digital space (website and Facebook).  As you have already explored social media, including paid, owned, and earned media as well as the user experience project around improving the usability of their digital assets. You have also highlighted a potential new eBusiness product ‘Micro-Loans”; the Board of Directors feels you are best placed to offer advice in this matter.

You have been asked to research the opportunities to turn their online presence into a revenue stream generating $1 million in profit in the first year. You are also instructed to act on behalf of Bounce Fitness Company to explore merchant accounts and payment facilities with financial institutions to support the digital strategy.

The project will include:

Research and develop a digital proposal; and

Negotiate a Merchant Account and Payment Gateway with a financial institution.

The Board of Directors have forecasted the following Key Performance Indicators (KPIs) for the digital strategy:

Average $ sale per microloan: $1000

Gross Profit Margin: 15%

Conversion Rate:  0.12%

In addition to the relevant organisational policies and procedures contained on the Bounce Fitness simulated website, Case Study Organisation resources folder in Canvas and the background information about this topic you have learned throughout your term, there are a range of other documents and templates found in the Appendix section of this document to assist you complete the tasks.

3	Development Plan (Select & Implement Tools and Technologies)
3.1	Organisational Impact
3.1.1	An Agile Team (150 words)

Is there a need for an Agile approach? Explain Agile methodologies as they impact marketers. What are the benefits? Include the key benefits of taking an Agile approach over a Waterfall approach.

3.2	Development Plan
3.2.1	Customer Trust (100 words)

What is customer trust in this project and why is it important? What are three consumer recommended approaches to building trust? Are there any specific KPIs relating to retention and loyalty that could be considered important?

3.2.2

Ensuring Sales Success (100 words)

What are three methods for improving point-of-sale content with the purpose of closing the sale in the context of Bounce Fitness? What highlights can you draw upon from the existing Bounce Fitness? Is the website customer-centric (why)?

3.2.3

Content Strategy (150 words)

What recommendations do you have regarding content strategy as it relates to this monetization strategy? Should it be its own project or strategy or part of this project? How does content strategy planning affect transaction enablement in this monetization project? Can you provide a short example of a Content Plan? You may need to conduct some research to complete this section.

3.2.4

Project Plan (50 words)

Using a simple excel spreadsheet, develop a Website Development Plan with a timeline on Bounce Fitness website development in line with this monetization strategy. You may need to conduct some research to complete this section.

 

3.2.5

Testing and Stabilisation Plan (50 words)

Outline your approach to Alpha/Beta Testing (A/B Testing). Include in your answer at least three common errors that impede sales.

 

3.3	Transaction Enablement Partners (100 words)

Draw a flow chart/schematic showing the user journey and process between the customer and ETG for online purchase. Ensure you include the following elements:

• Customer
• Order process
• Online store
• Payment Gateway
• Payment Processor
• Bank
• Merchant (Bounce Fitness)

 

 

 

3.3.1

Payment Gateway (100 words)

Drawing from your ‘Compare Payment Gateway’ activity in this module, what is your recommendation for a particular payment gateway product? Include in your answer a comparison table such as that in your learning materials. As well as a rationale of why you selected that payment gateway product.

3.3.2

Financial Institution (50 words)

Conduct some research on Merchant Accounts taking into consideration:

• Volume Commitments
• Contract Terms
• Settlement Terms
• EFTPOS considerations
• Interchange rates and fees

And how all these relate to sales volume of Bounce Fitness company.

3.3.3

eCommerce Platform (150 words)

Conduct some research on eCommerce vendors. Provide a short evaluation of the platforms available and select one that is suitable to large enterprises like Bounce Fitness. Outline why this is suitable to Bounce Fitness’s monetization project.

3.3.4

Authentication & Security Considerations (100 words)

Explain authentication and security requirements and why is it important factor to the monetization of Bounce Fitness’s digital channels? Specify the authentication and security requirements for the Payment Gateway you selected.

3.3.5

Analytics (100 words)

Outline your approach to analytics relating to transaction data. Provide a summary of three systems that can be used and the data available for analysis.