Exhibit - FMB Stage 2 by Serena Anslow

PROJECT DECLARATION This submission is the result of my own work. All help and advice other than received from tutors has been acknowledged and primary and secondary sources of information have been properly attributed. Should this statement prove to be untrue, I recognise the right and duty of the board of examiners to reccommend what action should be taken in line with the University's regulations on assessment contained in its handbook. SIGNED

DATE:

ETHICS CLAUSE I confirm that this work has gained ethical approval and that I have faithfully observed the terms of approval in the conduct of this project. SIGNED

DATE:

SERENA ANSLOW N0703818 n0703818@my.ntu.ac.uk WORD COUNT: 8000

table of contents 1. INTRODUCTION

6-7

Competitor Analysis

Stage One Reflection

8-9

Centrality-Distinctiveness Map

Strategy Canvas

Risk Analysis

SWOT Analysis

TOWS Analysis

Contingency Plan

Rationale Project Aims and Objectives 2. METHODOLOGY

10 - 11 13 14 - 16

3. THE CONCEPT Vision

Mission

Values

20 - 21

5. CONSUMERS Business to Consumer

46 - 55

Business to Business

56 - 57

Personality 6. MARKETING AND COMMUNICATION STRATEGY

Tone of Voice Proposition Brand Identity

22 - 23

Kapferer’s Brand Identity Prism

24 - 25

Business Model

26 - 30

Boston Matrix

Brand Benefit Ladder

4. MARKET ANALYSIS Events

Recruitment

Volume

Social Networks PESTLE Analysis

Marketing Objectives

Year One Communication Plan

59 - 71

Year One Marketing Budget

72 - 75

Years Two and Three Communication Plan Years Two and Three Marketing Budget

76 77 - 78

7. OPERATIONS The Organisation

Personnel

Premises

Equipment

Insurance

8. FINANCIALS Initial Funding

Market Potential and Revenue

Sales Forecast Years One to Three

84 - 85

Profit and Loss Years One to Three

86 - 88

Sensitivity Analysis

Cash Flow

Key Performance Indicators

9. SUMMARY Future Projections

Conclusions

REFERENCES BIBLIOGRAPHY APPENDICES IMAGE REFERENCES

“the public seemingly having an insatiable appetite for consuming creative content across an expanding range of media, and businesses increasingly seeking to differentiate their offerings through better design and advertising.” (Garcia, J., Klinger, J., and Stathoulopoulos, K., 2018).

INTRODUCTION

This report is the final stage in a series of projects enhanced by macro trend analysis and an informed body of research. This closing body of work visualises the opportunity presented in the preceding reports and constructs a business concept based on the gap presented within the creative industries. This business concept is called Exhibit. The creative industries in the United Kingdom seem to be ever-expanding, “the public seemingly having an insatiable appetite for consuming creative content across an expanding range of media, and businesses increasingly seeking to differentiate their offerings through better design and advertising.” (Garcia, J., Klinger, J., and Stathoulopoulos, K., 2018). Although the range of creativity within the industry is expansive, the range of diversity is not, particularly within socio-economic class and location.

Exhibit is a digital platform that represents the true diversity of creative people within the United Kingdom. It is a visual, social-networking website, where individuals can share and seek inspiration from artistic creations across multimedia formats; attend online events and exhibitions; engage with industry professionals; and seek employment and freelance opportunities. For businesses, Exhibit provides a talent pool from a myriad of creative practices and backgrounds; as well as the opportunity to create digital exhibitions using omnidirectional photography, hosted and promoted through the Exhibit platform. Through creating an online community of creators and designers, connected through virtual portfolios that demonstrate their artistic credentials to a plethora of industry professionals and brands, Exhibit aims to communicate that it is no longer about “who you know”, but about who knows you. 7

STAGE ONE REFLECTION The research conducted during stage one explored the concept of identity and whether Generation Z’s early adoption of technology was changing their identities. Primary research uncovered the extent to which this generation’s identities are defined by their aspirations and studiousness, which is not only defined by their academic ability but also their personal development. Interviews conducted in Nottingham with Youth Services and Student Services uncovered how this generation are using digital technologies to expand their horizons and seek opportunities; as well as network, build brands and sell services (see stage one). Forty-six percent of Generation Z respondents to the survey (see stage one) stated that social media had the greatest influence on their aspirations, opposed to 20% who believed the greatest influence was their school or university. These statistics were reflected in interviews conducted with 18-24 year olds, who believed educational systems to be out of touch and not understanding current societal pressures (see stage one).

Secondary research revealed Generation Z to have “entrepreneurial prowess” (Mickiewicz, 2017, p.3); and that social media usage and the importance of personal success were intrinsically linked, as “when something good happens or if someone experiences a success, they will share it on social media.” (Fromm, 2017, p.12).

From the insights uncovered, a scenario plan was written to assist in gaining foresight into the possible business concepts (appendix one). Four possible scenarios were developed to acknowledge possible futures and one scenario created an intriguing brand narrative. ‘The increase in automation, particularly within the service and manufacturing sectors, leads to an influx of jobs in the ICT and creative industries. Demand soars for creative and digital skill sets, which remain protected from automation. As demand outweighs supply, the UK skills shortage drives creative salaries to a record high; however, the recruitment process to fill these roles takes significantly longer. Government-led training initiatives are introduced to encourage more people into these sectors.’ This narrative, paired with the research conducted within the stage one report, highlights the need for both increased personal development and creative skill sets. Therefore, the formation of a business assisting in driving growth to the creative sectors would be plausible.

Forty-six percent of Generation Z respondents to the survey stated that social media had the greatest influence on thier aspirations. (see stage one.) 9

46% of people say that “where you end up in society is largely determined by who your parents are.” (Social Mobility Commission, 2018)

RATIONALE The Arts Council England believes that “cultural education is the key to social mobility.” (Arts Council England, 2015, p.1). However, the creative industries have created inequality in many respects, including inaccessibility due to financial status and geographical location (Book, O., O’Brien, D., and Taylor, M., 2018). How can one develop creatively, if perceived societal norms do not lean in their favour? Research conducted by the Social Mobility Commission found the following within their survey: - 46% of people say that “where you end up in society is largely determined by who your parents are.” - 40% of people think that “it is becoming harder for people from disadvantaged backgrounds to move up in society.” - 73% of people say “there are ‘fairly or very’ large differences in opportunity depending on where you live in the country.” (Social Mobility Commission, 2018)

The creative industries are largely dominated by individuals educated to a degree level, with 78% of respondents to a survey within the creative media workforce possessing a degree and 27% educated to a post-graduate level (Screen Skills, 2015). If individuals believe that it is harder for people from disadvantaged backgrounds to move up in society, these figures may deter them from looking towards a career within the arts due to the domination within this area by individuals who can afford higher education. The belief that opportunity lies within familial ties and location is driven by the number of individuals accessing informal recruitment methods and the ability of the fortunate to take unpaid employment in exchange for experience (Screen Skills, 2015). A lack of access to opportunity leads to a lack of personal development, and individuals that possess creative abilities may not have the access they need to nurture them. Providing accessibility and equal opportunity are the key to cultural education. The opportunity presented lies in stripping back aspects of identity such as an individual’s social and socio-economic class and instead focussing on meritocracy. Exhibit will support individuals in connecting with other creatives, industry professionals and brands, offering all account-holders the same opportunities for cultural education and personal development.

PROJECT AIMS AND OBJECTIVES

The aim of this report is to develop a strategic business plan for a new and innovative brand concept, based on the gap in the creative industries demonstrated within preceding reports.

- Determine the business opportunity through the process of scenario planning and market analysis, identifying the likelihood of success within the venture.

- Build a business model to assist in how the service will function, informed by what value the business wishes to provide to its customers and a competitor analysis to discover the point of differentiation.

- Identify the target market through primary and secondary research and the creation of consumer profiles to distinguish appropriate customer segments.

- Create a sales and marketing strategy, determining which marketing methods will result in the strongest outcome with regards to both customer acquisition and retention.

- Use appropriate business and marketing models to inform research and the creation of the strategic business plan.

- Conduct and implement a financial planning process to discover commercial feasibility of the brand’s concept and service.

METHODOLOGY

Met Da

Research Method

Description

Stage one research consultation

The research conducted in the previous report was consulted to help inform what further research needs to be completed.

P Qu

Elevator pitch

A short pitch was conducted to a panel, in order to gain feedback on the initial business concept.

P Qu

Survey

The questions in this survey were based on the perceptions of the creative industries in terms of accessibility.

P Qu Qu

Concept testing

Two possible styles for the brands identity were polled on Instagram.

P Qu

Survey

A further survey was conducted to establish Exhibit's consumer segments, and the usage behaviours of these segments in posting and seeking creative content.

P Qu Qu

Interviews

Three interviews were conducted with creatives to further understand their creative interests and how they share and access creative content.

P Qu

To ensure balanced research with regards to viability and representativeness, both primary and secondary research methods were used. The preceding report assisted in gathering insights to form the initial business idea; subsequently a combination of other research methods including qualitative and quantitative data collection were completed to support in bringing the idea to fruition.

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ted to a dback on ncept.

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ducted to sumer ehaviours ting and ent.

nducted nderstand d how they content.

Methodology Data Type

Strengths

Limitations

Primary Qualitative

A foundation of research was previously built, assisting Exhibit in the indentification of insights, and the creation of the brand concept.

Research previously conducted was focussed on Generation Z consumers, therefore the findings and insights could not be applied to all generations.

Primary Qualitative

The pitch was timed at three minutes, assisting in developing the ability to This research was conducted early on discuss to brand concept conscisely. in the methodology, and as a result the business idea was nnot fully formed. The feedback helped in investigating Therefore, not all areas of the business further avenues that the business could could be discussed. explore.

Primary Qualitative Quantitative

The response to this survey was fairly The insights uncovered assisted in building Exhibit's brand mission and small, at only 50 respondents meaning that any insights were vision, and provided a focal point of unrepresentative of the segmented accessibility to be weaved throughout population. the brands product offering.

Primary Quantitative

Primary Qualitative Quantitative

Primary Qualitative

Using an Instagram poll allowed for a quick response rate, meaning that The poll was only responded to by 33 developments in brand identity could consumers, therefore the findings were begin immediately after the results decreasingly representative. were collated. In addition to this, as the poll was In consumer research it was identified featured on Instagram the results may that Instagram was one of the of been skewed as only a small preferred platforms for the consumer population had access to the poll. segments to use, therefore the concept was directly targeted.

This research directly fed back into the development of consumer segments, allowing for detailed consumer profiles to be compiled.

The majority of the questions posed to consumers were close-ended, One of the questions within the survey therefore detailed answers were not provided which prevented deeper assisted in discovering who the brands insights from being uncovered. main competitors were, allowing for the brands product portfolio to be further developed to increase differentiation.

Conducted alongside the consumer survey, the interviews allowed participants to provide longer answers than they would within a survey format.

As only three participants were interviewed it was not possible to access the thought process behind different creative industries.

In addition, the interviews were This provided deeper insight into their conducted over email which did not allow the facilitator to ask for more usage behaviours on current content information within the answers given. sharing and social platforms.

Academic textbooks were used to develop a variety of business models which helped inform the brand’s strategy and how it will differentiate itself within the market. Articles and online reports provided insight into the market the brand will be launching in and provided important information needed to make informed decisions in how the business will operate through competitor research. Secondary research was also used to create Exhibit’s brand identity, through the application of trend reports in the consideration of the brand’s colour palette and aesthetic. Creative and design industry reports, particularly those by Nesta and the Arts Council England, assisted in gathering statistical data surrounding the health of the creative industries. This data was used to ensure that the needs of current and future creative consumers were being met, and that the services Exhibit will provide are needed. 16

03 the

concept

“

“jobs in the creative industries are unicorn jobs.” “it is who you know.” “status can prioritise skill.” “a higher budget will always be an advantage.”

”

(Consumer Survey, 2019, appendix two)

all generalisations are false. including this one.

VISION Exhibit seeks to challenge the assumptions. We work with creatives and employers to build a platform that is entirely representative of the breadth of talent and art forms that individuals in the United Kingdom have to offer, and look to inspire the next generation of creatives.

MISSION

The creative industries form a key part of culture in the United Kingdom. But they are unrepresentative of our diverse societial make-up. Exhibit was created to promote and support the diversity of artists and their art forms. By providing a digital platform which aims to erase exclusivity, Exhibit encourages an eclectic, engaging and emotive creative scene. 19

VALUES Experience Accessibility Inspiration Community

PERSONALITY Dynamic Individualistic Sociable

TONE OF VOICE Passionate Encouraging Informative Sincere

PROPOSITION Immerse yourself in the diverse, creative culture of the UK with Exhibit.

BRAND IDENTITY During concept testing, two logos were pitched to consumers. The first, minimalistic logo featuring limited use of colour and a short descriptor of the brand’s offering; the second, bold and illustrative, using a range of the brand’s colours and the letters “HI” highlighted to emphasise the platform’s social features. Seventy-one percent of consumers preferred the second option, encouraging the brand to emphasise graphic and engaging visuals to distinguish itself from competitors (appendix three). Exhibit was chosen as the brand’s name as it encompasses the core elements of its product offering: digital exhibitions created for brands, and online portfolios that allow users to exhibit their own creative content.

abcdefghijklmnopqrstuvwxyz WTR GOTHIC STANDARD

Web-ready fonts were used for the brand’s headers and body text to ensure consistency across print and digital media. Loud and illustrative, WTR Gothic Standard is in tune with the brand’s identity, reiterating the brand’s creative aspects to consumers.

WGSN’s (2018) trend website was consulted when developing Exhibit’s colour palette. Within the Colour Evolution A/W 20/21 trend concept, bold hues of blue, orange and yellow were selected to capture the consumers attention and paired with pastel pink to soften any overly harsh tones or colour combinations (WGSN, 2018).

KAPFERER’S BRAND IDENTITY PRISM The brand identity prism helps to personify brands, providing them with a humanistic identity and appealing to the emotional motivations of consumers. Through this process consumers can “reflect externally something about themselves to their peers through owning the brand.” (Viot, 2011, cited de Chernatony, 2001). For Exhibit, it’s motivations and language appeal to consumers who relate to the brand’s desires and culture, and seek to challenge the status-quo alongside the brand.

Physique

Personality

Web and mobile optimised, app, networking platform, digital exhibition and recruitment service, brand logo and app icon

Inspiring, inclusive, supportive of diversity, challenging the status quo

Relationship

Culture

Consumer engagement on social media and platform content, brand ambassadors and a creative community.

Experience, accessibility, creative community, equal networking opportunities

Reflection

Self-Image

Creatives can trust Exhibit for equal opportunities, personal development and networking with prospective employers.

Provided with a platform for self-improvement and creative development and networking opportunities. Ability to connect with likeminded indivuals nationwide

BUSINESS MODEL Exhibit will operate through both business to business and business to consumer models. Functioning as a freemium service to consumers, Exhibit will be primarily funded through providing digital exhibitions and recruitment services to brands.

AIM Turn a profit by the end of the second financial year.

OBJECTIVE

METHOD

1. Achieve an 85% year on 1. Invest in business year increase in gross profit development and customer between financial years one acquisition to rapidly grow the and two. B2C and B2B customer bases.

TIMEFRAME By September 2021

2. Generate £8,000 per month 2. Minimise churn rates in net revenue from Digital through investment in an Exhibition sales and at least effective customer retention 175 business account programme and creating an sign-ups by the end of engaging product. year two 3. Generate £40,000 net revenue through premium account fees across financial years one and two. Grow Exhibit-Recruit into a market-leading recruitment service.

1. Grow business account sign-ups to 275 by the end of the third financial year. 2. List at least 100 jobs per annum in years two and three.

1. Investment in B2B marketing campaigns including trade shows, paid social advertising and telemarketing.

By September 2022

2. Ensure repeat business by 3. Generate at least £11,000 minimising Time to Hire and total net revenue through the accumulating a robust Exhibit Recruit platform during database of creative financial year three. professionals through sign-ups to the platform. Increase demand for Digital 1. Create three Digital 1. Roll-out B2C and B2B By the end of September 2022 Exhibitions in creative spaces. Exhibitions per month by year awareness campaigns to three. increase the level of interest in Digital Exhibitions. 2. Generate £12,000 in monthly revenue through the 2. Collaborate with brands to creation and distribution of create engaging, viral content Digital Exhibitions. that builds further interest in the Exhibit platform. 3. Establish a network of small, independent traders, 3. Expand Exhibit's B2B SMEs and large brands to contact strategy beyond participate in Digital working with creative brands, Exhibitions and events to demonstrate how different sectors can be relevant within the creative industries.

BUSINESS TO BUSINESS MODEL DIGITAL EXHIBITIONS Using omnidirectional photography, audio and video to create interactive 3D digital environments, Exhibit will assist companies in visualising their brand story in ways which are compelling and engaging to viewers and encapsulate the brand’s essence and purpose. Digital exhibitions will feature for two weeks on the Exhibit homepage, remaining accessible thereafter.

Shop (E-Commerce only)

The service includes the following content and is provided at rate of £4000:

Exhibit can also assist in creating promotional video content to be used alongside other exhibition content. Exhibit will work closely with clients to develop the video concept and understand them and their consumers, bringing the brand to life.

Digital Exhibition Exhibit will work with brands to create interactive digital exhibitions. Digital exhibitions are 3D environments that users can explore via the Exhibit website or app, and can interact with to display audio, video and written content. Brands will lead from a creative standpoint and have direction over the content included. For example, a clothing brand might include collections and collaborations, insight into their creative process and a deeper look at past advertising campaigns. The expense of this service will be placed on the brand, with Exhibit providing the resources, technology and platform to bring this vision to life. ‘Meet the Maker / Meet the Brand’ During the opening week of each exhibition, a member of the Exhibit team will host a creative talk via livestream with a member of each participating brand., The livestream provides an opportunity to offer users a sense of what it would be like to work for the brand, how they began their careers and companies, and the direction they see their brand heading in the future. Following the talk, a Q&A session will take place over live-chat, giving users the opportunity to ask questions to the brand.

Optional to brands that want to provide consumers with an opportunity to purchase featured products, shops can be presented in a full 3D environment. This service offers exclusive products and discounts for premium members. Promotional Video

Exhibit Recruit By purchasing a business subscription, brands can search for and communicate with creatives and other companies and create lists of creative individuals for future employment or freelance opportunities. Business subscriptions are priced at £19.99 per month. Brands can also purchase job packs to post job listings, for which Exhibit will contact users that have registered their interest in the job type and promote the roles on its recruitment page. One job listing - £170 Three job listings - £320 Five job listings - £470

BUSINESS TO CONSUMER MODEL BASIC PROFILE (FREE) By creating a basic Exhibit account consumers can: -

Create a personal profile

- Register their interests to receive a personalised content feed -

Upload multimedia content to their profile to share with others

- Search, apply and make themselves available for jobs by making themselves “discoverable” to employers - Send three direct messages a week to business accounts, and unlimited direct messages to other users - Full access to the entire Exhibit platform including digital exhibitions and user-created content.

PREMIUM PROFILE (£9.99) Premium account holders have the same features as the basic account in addition to: -

Three day early access to Digital Exhibitions

Unlimited direct messages to both business and user accounts

Access to exclusive products and discounts in Exhibit shops.

BOSTON MATRIX

STARS

QUESTION MARKS

DIGITAL EXHIBITIONS

CASH COW

DOGS

EXHIBIT RECRUIT

The Boston Matrix identifies growth opportunities and areas of investment. Exhibit’s ‘stars’ are its digital exhibitions, with high cash generation and high cash usage. Nesta reports the creative industries are demonstrating higher levels of growth than other sectors across the country, with entrepreneurialism and creative conurbations also contributing to economic growth alongside larger cities (Mateos-Garcia, J., Bakshi, H., 2016). This increasing number of businesses generates a larger customer base, resulting in high potential profits. Exhibit Recruit falls into the category of cash cow. High levels of growth in the creative industries are creating a significant number of new jobs, with Nesta stating that “If the creative industries keep growing at the same pace, they could create 900,000 new creative industries jobs by 2030.” (Zabow, A., 2018). As Exhibit will feature jobs on its website, little funding or investment is needed to provide this service, as the recruiting business creates the job advert. As a result, the profits made from this service outweigh the cash usage. Premium accounts fall between the categories of question mark and dogs. Premium account sign-ups will generate a small amount of income compared to the other products. The churn rate of premium accounts also results in minor losses each month, and the revenue generated is not enough to sustain growth. However, premium account services have synergy with other products within the portfolio, due to the benefits premium accounts offer, such as early access to exhibits and unlimited messaging (Jurevicius, O., 2013).

BRAND BENEFIT LADDER The use of a brand benefit ladder mirrors a means-end theory, focussing on “linkages between the attributes that exist in products, the consequences for the consumer provided by the attribute and the personal values that the consequences reinforce.” (Sen, 2001). In a similar vein to the brand identity prism (see page 25) this model helps to identify links between the practical elements of a product, and the emotional reasons consumers seek said practical element.

SOCIAL Providing accessibility opens the industry to all creatives, enabling employers to create a more diverse workforce and inspire the next generation of creative talent.

EMOTIONAL B2C - Be inspired and motivated, obtainment of full potential, personal and professional development, build friendships and contacts. B2B - Visual encapsulation of brand, inspiration from nationwide talent pool. FUNCTIONAL B2C - Find a new career, creative collaboration, see the progression of your portfolio and have it stored in one place. B2B - Access to a nationwide creative pool, advertisement from digital exhibitions may lead to increased revenue. ATTRIBUTES B2C - Visual platform to share work, seek employability, meet other creatives and connect with brands. B2B - Fill vacancies and create digital exhibitions.

04 MARKET

ANALYSIS

Exhibit operates across multiple sectors including events, recruitment and social networks. It is therefore important to consider the health and size of all markets within the analysis and consider the micro and macro trends impacting upon them.

EVENTS

In 2017, the events market in the UK saw growth in value of 2.4% to reach £43 billion, which was accreddited to the rise of the experience economy. 34

This value is estimated to grow by 7.8% across the next five years, with increased competition in the market due to the entrance of larger companies and SMEs (Mintel, 2018). Increased competition calls for differentiation. Exhibit’s events will feature solely on its own digital platform, therefore it will be important to remain ahead of competition by utilising innovations in technology. Virtual facilities are expected to expand within the market (Mintel, 2018), enabling consumers to attend events digitally. Exhibit should look to implement virtual reality technologies alongside the growth in their brand and these innovations within future years.

RECRUITMENT

The recruitment market in the UK maintains growth, with value increasing by an estimated 5.8% in 2018, reaching £40.4 billion (MINTEL, 2018).

Mintel (2018) states that these figures are “underpinned by unemployment reaching a four-decade low”, and the value of the market is forecast to increase again by 33.5% between 2019 and 2023 (Mintel, 2018). The number of new start-ups and SMEs within the recruitment industry has attributed to this growth (Mintel, 2018), therefore Exhibit’s niche within the creative industries should narrow the number of competitors. The growing skills shortage within the UK could act as a barrier to entry for Exhibit. Employers and recruiters are facing challenges to fill many roles due to “gaps in education and shortcomings in training” (Mintel, 2018). A survey conducted by Robert Walters found that, “two-thirds of companies expect to face at least a moderate talent shortage in 2018 (65%), while 17% expect to see the issue increase throughout the year.” (Robert Walters, 2018). Through product expansion in coming years, Exhibit could look to tackle this issue through creative course offerings to combat this obstacle to growth. 35

VOLUME

In 2017, jobs within the creative industries accounted for 6% of all employment within the UK (Smith, 2018).

Therefore, out of the 32 million people currently employed within the UK (Clegg, 2018), 1.9 million individuals are working within the creative sector. The number of individuals currently unemployed in the UK, but actively seeking work stands at 1.41 million (Smith, 2018), consequently an estimated 84,600 of these individuals could be seeking creative employment. Additionally, 260,000 university students enrolled onto Creative Arts and Design courses in 2017 (Dawood, 2017). Therefore in 2020, now graduates, these individuals will be looking to their future, with many seeking employment in this sector.

SOCIAL NETWORKS

Social networks operate in a saturated market, with 77% of internet users having a social media profile (Ofcom, 2018), and the clear majority using the platforms to share content (Mintel, 2018).

Digital consumers have an average of 8.5 social media profiles, with each one used for a different purpose (Global Web Index, 2018). Individual’s motivations for social media usage vary, with the following percentages being the main reason for usage: 33% - Content sharing 33% - Network with other people 23% - Network for work 36% of individuals use networks to follow brands that they like, and 27% to follow contacts relevant to work. (Global Web Index, 2018) Smartphones are the most popular device for accessing social networks at 44%, due to the constant connectivity provided in sharing and viewing content (Mintel, 2018). It is important for Exhibit to create a seamless experience between web-page and mobile application, due to the high volume of individuals using mobile devices for social networking.

PESTLE ANALYSIS

POLITICAL

- Decrease in creative subject entries due to Ebacc could lead to a decrease in individuals with creative skills or desire for employment in the creative industry. - Brexit may impact upon freedom of movement possibly resulting in less access to talent from across the world. - Some social media networks may experience limits to future launch in various countries due to their political climate. - Our data is protected under EU law, new laws will need to be put in place by the UK government depending on result of Brexit negotiations.

ECONOMIC

- High growth in GDP results in employers being able to afford to hire more employees and increase wages, leading to higher disposable income. - The recent increase in the jobs market is leading to fewer people competing for roles. - Due to democratisation of information it does not cost a lot to self-promote a new business. - Social media enables brands to scale globally which drives economic development.

SOCIAL

- Unemployment is at a four-decade low. - The growing skills shortage however is making it increasingly difficult for employers to hire individuals with relevant qualifications. - Social media usage is declining due to increased awareness of mental health. - Increased ability to network and connect with people with the same interests.

TECHNOLOGICAL

LEGAL

ENVIRONMENTAL

- Developments in technology leads to changes in creative skills-sets, and skill-sets may become more digital. - Due to increased innovation many roles could automated, leading to an increased need for creative thinkers. - Development of 5G is leading to faster and constant connections to networks. - Increases in the National Minimum Wage will impact upon employers as they will need to increase employees wages. - Similarly, the employer pension contribution has risen to 3%. - Future laws are being implemented to make social media safer, with increased transparency and reporting mechanisms for abusive behaviour. - Due to increase of digital businesses negative impacts upon the environment are increasing due to the power consumed by digital devices, and energy used delivering services. - Mobile optimised websites use less power but they’re being used more frequently by increased numbers of people, therefore the implications may increase or even out.

COMPETITOR ANALYSIS The examination of macro-environmental forces assist in forming business strategies, however the impact of these forces is dependent upon the industry that businesses operate in, for example levels of competition may be higher in some industries than others (Johnson, G., et al., 2014.). Exhibit’s main competitors were first identified and research was conducted to discover their product offering and business models. This research was then compared against the Exhibit brand to identify which features competitors were not offering and where Exhibit could fill the gaps provided (appendix four).

CENTRALITY-DISTINCTIVENESS MAP

The centrality-distinctiveness map helps brands distinguish where to best position themselves against competitors within their industry. The centrality of a brand determines its representativeness and are usually the brands that first come to a consumer’s mind when they think about a specific industry. The distinctiveness of a brand is how much it stands out from its competitors, with unconventional brands sitting at the top of the axes and peripheral brands at the bottom (Dawar, N., Bagga, C., 2015). Exhibit needs to remain distinctive and set itself apart from larger brands. Exhibit’s vision is to challenge assumptions, and by positioning itself away from the brands that dominate the industry and towards more unconventional brands, it will demonstrate its unique offering to consumers.

STRATEGY CANVAS In the primary research survey (appendix five), participants were asked to name their favourite features on content sharing platforms. These features were added as 'critical success factors' to a table against Exhibit's main competitors to form a competitive matrix. The perceived performance of these factors was objectively examined, based on the brand's platforms and rated on a scale from zero to ten, with zero being no offering and ten being excelled offering (appendix six). Conducting this canvas helped to determine where the competition is minimised, and 'blue ocean' market spaces appear (Jonhson, G., et al., 2014).

The graph above identifies two critical success factors that are not met by Exhibit’s competitors offering a space within the market to fulfil an unmet consumer need. By offering playlists and events within its product portfolio, Exhibit will identify a strategic gap in which it will face little rivalry from competitors.

RISK ANALYSIS Conducting a risk analysis is a form of proactive rather than reactive management, assisting businesses in the development of strategic foresight. This process will allow Exhibit to identify the possible internal and external risks that may occur, plan how to reduce the probability of the occurrence, and devise how the consequences will be dealt with (Anderson, 2013). Applying the Five Forces Framework allows Exhibit to identify the attractiveness of the industry it will operate in. The forces within the model are what influences the industries competitive environment, the application of this framework is vital “to determine the positioning of a company in a market, but also to fight against the competition.” (Michaux, S., 2015, p.7) THREAT OF NEW ENTRY - Threat of new entry is likely, Exhibit needs to be highly differentiated and build customer loyalty. - Access to distribution is high. - Low retaliation from existing brands as they're partnered with larger companies, Exhibit will partner with SMEs to begin with. SUPPLIER POWER MODERATE - The platform is hosted online therefore issues with this negate the ease of use for consumers. - Working with software developers, it is costly to switch providers. - The offering may not be easily replicated if switched.

COMPETITIVE RIVALRY - Organisations with similar products and services aimed at same audience. - LinkedIn and The-Dots dominate the market (Exhibit will focus on niche) - Medium exit barriers (if companies have paid for job ads Exhibit will have to refund) - Exhibit is highly differentiated.

BUYER POWER - Consumers have low switching costs. - Business consumers have low power as they need Exhibit's talent pool to recruit for roles. - Low concentration of buyers due to partnering with multiple businesses.

THREAT OF SUBSTITUTES - Non-specific networking (consumers using Instagram or Twitter to share content and engage with brands. - Low substitution as creative networking is a niche. - If functions are easy to use it will be easier to network on a specified platform.

The framework shows that the forces are predominantly weak, therefore the extent of competition is low. Once Exhibit has established itself within the industry, the brand can begin to exert influence over the forces through the creation of its own barriers to entry (Jonhson, G., et al., 2014). 41

SWOT ANALYSIS Through the completion of a SWOT analysis, Exhibit can identify its internal strengths and weaknesses, and the prospective external opportunities and threats faced.

By applying the analysis to the entirety of Exhibit’s product offering, a TOWs matrix can be developed. This assists the business in recognising the relationship between these factors, and creating a variety of strategies to leverage strengths to maximise opportunity and minimise threats, and counter weaknesses through exploiting opportunity and averting threats (Woodruff, J., 2019).

TOWS ANALYSIS

CONTINGENCY PLAN From the weaknesses and threats identified within the SWOT analysis, the brand will construct a contingency plan for both possible internal and external implications to its operations. PROBLEM

POTENTIAL ISSUES

PROBLEM SOLUTION

Only partnering with SMEs

Lesser-known brands driving less traffic to the platform.

Increase content surrounding the brand running up to their exhibition launch.

Exhibit's content feed relies on consumers.

A lull in posts by consumers leads to a lack of content, resulting in a loss of platform visits.

Exhibit as the brand could create content for the feed.

Revenue largely relies on B2B services.

If growth slows brand partnerships may decrease.

Increase number of B2C services offered.

Business concept is easily replicated.

Increase in number of competitors.

Further differentiate aspects of the brand that set Exhibit apart.

REPERCUSSION

MANAGE REPERCUSSION

DAMAGE PREVENTION

Increase cost of communications and time taken to produce content.

Ask the brand to write blog content or send over content they want featured.

Make branded blog content a regular feature.

1 2

As Exhibit has a low number of Employ a content team to build Build relationships with brands specific content. to encourage them to create staff they may not have time content to be posted. to create content.

Exhibit's values centre on accessibility, some consumers may not be able to afford paid B2C services.

Increased development costs.

Keep free aspects of the platform and make paid aspects still affordable targeted at employed consumers.

Continually invest in B2C at customer segments that are employed in a certain demographic.

Reach out to larger companies with the more developed product.

Set development targets to ensure product has new developments often.

The internal business weaknesses are preventable, due to Exhibit having authority over how they can be managed. However, external business threats are more unpredictable, making them harder to create solutions for. As the brand's following and customer base grows and its product portfolio expands, Exhibit may be able to combat these threats due to an increase market position and revenue. 44

05 CONSUMERS

To identify Exhibit's prospective customer base, the business model was examined to understand which customer segments would benefit from the platrform most. BUSINESS TO CONSUMER A survey was conducted in which participants named their favourite features of similar platforms. This assisted in identifying their usage habits and any features that would be valuable for Exhibit to provide (appendix five) By examining Exhibit's service, and the problems and needs that it satisfies, five consumer segments were identified for the platforms business to consumer model.

THE CROSS-ROAD This consumer is at a cross-roads in their life. An individual who possesses both academic and creative abilities, they are currently studying for their GCSEs or A-Levels and are unsure as to which path to take. They are passionate about the creative industries but are unsure if a career within the arts is viable. This decision is influencing their A-Level or university choices, in which they must ultimately choose between following their passion or choosing a more traditionally academic path. They desire a platform on which they can expand their knowledge of the creative industries, through accessing industry talks, becoming inspired by the work of other creatives and connecting with others who may be experiencing or have experienced the same dilemma. This individual likes to explore and use a range of social platforms, but ensures that each platform holds a specific purpose and can be used to portray a certain part of their identity. They use social platforms to engage with authentic brands whose core values reflect their own and are attracted to interactive multimedia content.

THE ENTRY SEEKER The Entry Seeker is an arts and design student at university, beginning to prepare for their future after graduation. After finishing university, they plan to move to a city and obtain either an internship or a permanent role in the creative industries. To assist them in their quest for employment, they want to build an online creative portfolio, encapsulating all of their university projects and individual work in a digital space. This consumer currently showcases their content on Instagram and Facebook, but this fails to provide the networking opportunities they require. They desire a platform on which they can build connections with other creative individuals working in the city and display their portfolio to potential employers. They are also keen to continue learning about the creative industries and will seek access to industry talks, tours and exhibitions.

THE INDUSTRY PROFESSIONAL The Industry Professional is typically established at an executive or management level within the creative industries and is looking to progress further up their career ladder. They are avid networkers who love meeting new people and presenting their ideas to others. With several years of experience within the industry, they are a valuable source of information for the Cross-Road and the Entry Seeker, who will typically look to them for career advice. This individual uses a range of social platforms but will separate their personal and professional lives. They use LinkedIn to build and establish connections but feel the platform isn’t representative of their rich and diverse industry. They seek a platform which allows them to share their vast portfolio with others, including recruiters, and to keep updated with the latest trends in the industry. 50

Among the more affluent consumers, Industry Professionals are usually based in cities and are more likely to be interested in paid subscription services.

THE SELF-STARTER

The Self Starter is a freelancer looking to connect with likeminded individuals in order to drum up business or launch a new project. Bound only by the strength of their Wi-Fi connection, the Self Starter can be found in both large cities and small towns. Like the Industry Professional, these individuals are keen to network with others engage with content. They have the largest online presence of all consumers, actively promoting themselves on social platforms and professional websites. Self Starters desire a platform which allows them access to industry opportunities and events, without geographical restrictions. These individuals are constantly seeking new ways to promote their online portfolio to Industry Professionals. Self Starters are the most willing to pay for subscription services.

THE UNKOWN CREATIVE

The Unknown Creative has a passion for the arts but lacks the connections and qualifications to develop their talents into a successful career. Furthermore, this individual is most likely to be routed in smaller towns across the UK. This individual is most likely to use social platforms for personal use and is the least willing to share their creative content with others. However, they may post their content on platforms which allow a level of anonymity. Like the Cross-Roads, they desire a platform where they can learn more about the creative industries and access industry events and exhibitions, regardless of geographical limitations. Unknown Creatives are looking to establish their first connections within the industry and find a space where they can share their creative content with a specific audience.

BUSINESS TO BUSINESS From the research conducted, three business segments were identified that Exhibit will work with in providing both exhibitions and recruitment services. SMALL INDIVIDUAL ARTISTS Creative individuals that produce and sell products to the public. Small independent artists will benefit from Exhibit as it will provide them with a platform to reach large audiences that they cannot otherwise reach. Exhibit can offer users an insight into how these artists produce their products and their creative process, captured in a digital exhibition. The artists will also have an opportunity to advertise and sell their products to users. REPUTABLE BRANDS Recognised creative brands and brands that work with creative professionals. Exhibit can provide brands with a unique way of communicating with potential business partners, potential employees and those more interested in their creative process, as opposed to the products they sell. Recognised brands will have larger budgets and can establish a long-lasting relationship with Exhibit, creating digital exhibitions; hosting exclusive industry talks and using Exhibit Recruit to access and review user-created portfolios. By working with reputable brands, Exhibit will benefit from greater exposure, as consumer’s will sign-up to see the brand’s content. SMEs Growing creative brands SMEs are growing companies that will benefit from further exposure through the Exhibit platform. Exhibit can provide digital exhibitions and the opportunity for these brands to engage with an active community of creatives. Its recruitment platform is especially beneficial to brands based in hard-to-reach areas of the country, allowing them to connect with users from across the UK. 56

CASE STUDY LAZY OAF

Lazy Oaf is a London based clothing retailer that, since 2001, has grown from a boutique store in London’s Soho to an international brand famed for its quirky fashion collections. With an overtly loud, contemporary and creative personality, paired with an ever-growing presence within the fashion industry, the brand is in a perfect place to benefit from the Exhibit experience. Why work with Exhibit? Weird, confident, rebellious and witty, Lazy Oaf is about standing out from the crowd and making itself heard. It is also reflective of Exhibit’s user base and the creative industries as a whole; there is a lot to learn from Lazy Oaf’s journey. Exhibit is all about learning and building connections in unique ways. In an ever-growing retail environment, brands such as Lazy Oaf can tell the world how they stand out and learn from Exhibit’s swathes of creatives looking to get a foot through the door. How can they work together? Lazy Oaf engages with its consumers online through Facebook, Instagram and Twitter to promote its current and up-coming product ranges. Additionally, it hosts an blog on its website, dubbed Oaf World, which details behind the scenes looks at its exhibitions and parties. Exhibit can empower Lazy Oaf to take this concept one step further, by bringing Oaf World to life in full 360° view, to be accessed anywhere, at any time. The digital exhibition can be hosted indefinitely through Exhibit for all to see. Users can take a virtual tour of the space, watch videos, read articles and even purchase products. The brand can interact with Exhibit’s users through a livestreamed Q&A session. Through Exhibit Recruit, Lazy Oaf job adverts and actively browse through thousands of online portfolios to find the right candidates for the position. 57

MARKETING AND COMMUNICATIONS STRATEGY

The following twelve month roadmap will detail how Exhibit will acquire new customers and raise awareness of the brand in its first year. The brand will target both B2B and B2C customers in order to build a vibrant online community with a steady stream of engaging content. OBJECTIVES Build Brand Awareness 1. Achieve 50,000 monthly impressions through Facebook, Instagram and LinkedIn 2. Distribute 10,000 flyers across the U.K. during launch period 3. Reach 33,000 potential customers through print and digital media campaigns in October and January. Grow B2B Customer Base 1. Achieve £8,000 monthly revenue through digital exhibitions 2. Post at least 5 jobs on the Exhibit Recruit platform per month Increase B2C Customer Profiles 1. Achieve 210 total monthly clicks through to the website from paid social campaigns 2. Maintain a churn rate of 7% or lower.

Three months prior to the platform’s launch, Exhibit’s marketing and communication strategy will focus on building brand awareness and generating leads, using communications informed through the strengths uncovered within the SWOT analysis (see page 42). By doing this, the brand can begin to build its community of businesses and creatives and increase the amount of content generated on the platform.

B2B PAID SOCIAL MEDIA Budget: £2200 p/a Exhibit will create a lead generation campaign to be ran throughout the year across Facebook, Instagram and LinkedIn targeted at B2B consumers. In October, the first campaign will be launched as a split test on a variant of two visuals to see which variant drives more leads. To drive business account sign ups, the brand will target this content at the top ten creative cities in the UK, targeting businesses relating to the arts, entertainment and media. The results of the split variant test will distinguish which campaign will be fully launched over the next two month advertising period. The variant which generated the most leads will be chosen.

B2C PAID SOCIAL MEDIA Budget: £2760 p/a Exhibit will also be launching campaigns across the year to generate traffic from its B2C customers on Facebook, Instagram and LinkedIn. It is important that within these campaigns Exhibit specifically targets each of its consumer segments, as “Advertising that’s cognisant of gender, age, location and interests has become the expectation on our platforms. Insight matters.” (McDonagh, 2018, p.17) In the build-up to Exhibit’s January launch, it will create and share an illustrated billboard GIF that will display a variety of creative content targeted at each consumer segment. Consumers are exposed to an average of 5,000 ads per day (Tunikova, 2018), therefore using powerful, animated imagery which embodies Exhibit’s brand personality, will grab the viewer’s attention and result in increased click-through rate. The campaign features two hashtags, #MakeYourMark and #NoLimitations. #MakeYourMark centres on the application of the arts in a variety of industries, both creative and non-creative, demonstrating to consumers the importance of creative skills in that they can be utilised in almost any industry. The hashtag implores consumers to create, share and seek inspiration to continue to make their mark in both the working and wider world. #NoLimitations demonstrates the eradication of geographical and socio-economic limits using Exhibit’s platform. Exhibit’s features are accessible anywhere, and every account holder has access to the same features. The hashtag acts as a call-to-action for consumers to forgo the perceived barriers blocking their success. Hofacker’s Five States of Information Processing was applied to Exhibits first paid social campaign to ensuring the content is effective from point of exposure to capturing customer retention (appendix seven).

JANUARY GUERILLA MARKETING Cost : £2167.55 Exhibit will run a guerrilla marketing campaign to increase sign-ups to the platform, prior to the launch of its digital exhibitions in January. For this campaign, Exhibit will create and distribute tear-off flyers across universities, creative institutions, shops and businesses across the UK. Reinforcing the brand’s #NoLimitations campaign, the flyers will be distributed across the country. Flyer design will be dealt with in-house at no additional cost to the business. Ten thousand flyers will be printed and distributed by the leaflet distribution brand Executional (appendix eight).

OCTOBER TRADE SHOW Cost : £885.00 To increase awareness and business account sign-ups, the Business Development Manager (BDM) will attend the Festival of Marketing in London in October (appendix nine). The BDM will attend as a guest to network with both businesses and individuals and help to promote Exhibit’s digital exhibitions and recruitment services. As Exhibit’s digital exhibitions are an innovative and unfamiliar product, the brand will create a demonstrative exhibition that the BDM can use at the festival to assist in visualising the product to business and highlighting the many benefits of a partnership with Exhibit. Exhibit will create a virtual experience that encapsulates its values, presenting the current inequalities within the creative industries and how Exhibit seeks to challenge them. The experience will also highlight the brand’s product offering, and how these services can be provided to brands. This will be produced by Exhibit’s in-house team, minimising costs in production. However, as Exhibit has no physical creative space, this will be rented for one day. Exhibit will occupy Centrala, a gallery in Birmingham (appendix ten), and film the space using an omnidirectional camera, with content added in post-production.

OCTOBER AND JANUARY PRESS RELEASES Cost : £440.00 In both October and January, Exhibit will work with Pressat to distribute two press releases giving focus to the digital exhibitions and recruitment services. With 33,000 online and print media subscribers, Pressat will assist Exhibit in growing the brand’s business account base, providing an increase in revenue from business to business products (appendix eleven).

#i w d e x h i b i t

MARCH Sunday 8th March 2020 marks International Women’s Day, on which Exhibit will launch a brand collaboration for a week long exhibit celebrating the achievements of women in the arts. This collaboration will be marketed on both Exhibit’s and the brands platforms, encouraging users to share work in celebration of the week using the hashtag #IWDExhibit JUNE TO AUGUST In June, Exhibit will hold a competition targeted at its existing users, offering the prize of a digital exhibition featuring the winning user’s content. To enter the competition, users must register their interest via the Exhibit homepage, with the winner being announced at the end of August. Exhibit will update users on the competition through organic social media and email marketing communications. The winner of the competition will hand-selected by the Exhibit team based on producing content that has received a high level of engagement and is of an exceptional level of quality.

B2B TELEMARKETING AND EMAIL MARKETING

PROFILE CREATION QUIZZES

The BDM will work year-round on building a list of ICP’s (ideal customer profiles), taking into consideration the industry the customer operates in, their budget, company size and types of customers they serve.

To provide a more personalised experience for consumers, Exhibit will create a profile-creation quiz to discover more about each consumer and target them with tailored content. Making the profile-creation stage more engaging will encourage users to disclose more information. This information will be used to adapt the Exhibit service, placing focus on the areas that are most important to the consumer.

They will collate a list of contacts, targeting them with direct communications over the telephone and through email. A benefit of building a list of clientele in this manor is the level of personalisation that can be added, providing a more engaging sales service and building meaningful relationships with businesses. Automated emails will also be setup including welcome emails for businesses that have registered their interest and business account notifications (received messages, users registering interest etc.)

For example, consumers would be asked what they hope the platform will help them achieve leading to additional questions such as their preferred industry, professional skills and art mediums they are most interested in. Lastly, they will be asked if they want to subscribe to the premium service. Based on the information they provide in the profile-creation stage, Exhibit will show the consumer how the premium service would benefit them.

BUSINESS TO CONSUMER EMAIL MARKETING AND PUSH NOTIFICATIONS

INDIRECT MARKETING

Exhibit will employ a robust email marketing strategy to ensure it continually engages with its existing customer base. Email marketing can be used to drive customer retention through serving targeted and relevant marketing communications that help build brand loyalty and manage churn (DotDigital, 2018).

Exhibit will also benefit from indirect marketing, targeting its B2C consumers, through content posted by brands it has worked with on digital exhibitions.

Upon sign-up, Exhibit will collect important information from its users including name, location and email address and invite them to opt-in to receive email marketing communications. The profile creation survey, along with users’ behaviour when viewing, sharing and uploading content, will provide Exhibit with a full-view of each customer’s interests and career goals. This data can be used to deliver a fully personalised experience to its customers and automation can be utilised to contact customers with timely and relevant messages through both email and push notifications. Automated sends include a welcome campaign when users sign-up to the service, account activity notifications (received messages, likes shares), new posts, new exhibitions, and prompts triggered by inactivity. 68

Brands that have created digital exhibitions will be encouraged to promote the launch across their social channels. The brand’s followers will be required to sign-up to Exhibit in order to view the content.

PAID AND ORGANIC SOCIAL Exhibit will use paid social ads to promote digital exhibitions and campaigns throughout the year to extend the reach of its marketing communications to both B2B and B2C customers. Exhibit will also post organic social content to promote user creations across Facebook, Twitter and Instagram and encourage its followers to share and comment for increased visibility, to generate more sign-ups. BLOG CONTENT Exhibit will also benefit from creating written content created by freelance writers, users and industry experts. The content will range from help and advice, through to provocative, “shareable” content intended to start a conversation amongst the community. The aim of this content is to increase the brand’s visibility and the number of click-throughs to the website.

INFLUENCER MARKETING Exhibit will build an influencer network to increase brand awareness. Influencers will be selected based on number of followers and the type of content they share. Exhibit will provide influencers with a free premium account, giving them the opportunity try the platform and recommend to their followers.

YEAR ONE MARKETING BUDGET

Time Period

Type Paid Social Facebook and Instagram

October

Lead Campaign A / B Testing

Total Expenses

% of Total Budget

£ 200.00

2.27%

£ 140.00

1.59%

£ 885.00

10.05%

£ 220.00

2.50%

£ 2,167.55

24.62%

£ 400.00

4.54%

£ 280.00

3.18%

Targeted at B2B Reach : 381 - 2.4k Leads : 4 - 26 Paid Social LinkedIn

October

Lead Campaign A / B Testing Targeted at B2B

October

Reach: 61k - 210k Leads : 73 - 300 Marketing Week Festival Ticket, Travel and Gallery Space Rental Two B2B Press Releases Guerilla Marketing

October

Printing of tear-off flyers and distribution. 10,000 leaflets in 10 cities. Paid Social Facebook and Instagram Lead Campaign

November to December

Targeted at B2B

Monthly Reach : 381 - 2.4k Leads : 4 - 26 Paid Social * for paid social campaign costs see appendix twelve. LinkedIn Lead Campaign November to December

Facebook and Instagram Lead Campaign November to December

Time Period

October November to December

October

October to December

October

October to December

November to December

October to December November to December

Targeted at B2B Monthly Reach : 381 - 2.4k Type Leads : 4 - 26 Paid Social Facebook and Instagram LinkedIn Lead Campaign A / B Testing Targeted at B2B Targeted at B2B Monthly Reach 381--210k 2.4k Reach::61k Leads : 4 26 Leads : 73 300 Paid Social Paid Social LinkedIn Facebook and Instagram Lead Campaign Traffic Campaign A / B Testing

£ 400.00

4.54%

Total Expenses

% of Total Budget

£ 200.00 280.00

2.27% 3.18%

£ 140.00

1.59%

Targeted at 16 - 18 year old Targeted at B2B students in high school/sixth form/college Reach: 61k - 210k £ 150.00 with interest in arts. Leads : 73 - 300 Marketing Week #MakeYourMark Festival #NoLimitations £ 885.00 Ticket, Travel and Gallery Monthly Space Rental Reach : 988 - 3.9k Two B2B Press Releases £ 220.00 Link Clicks : 30 - 185 Guerilla Marketing Paid Social Facebook and Instagram Printing of tear-off flyers and £ 2,167.55 Traffic Campaign distribution. Targeted at 18 - 24 year old 10,000 leaflets in 10 cities. students in higher Paid Social education with interest in £ 150.00 Facebook arts. and Instagram Lead Campaign #MakeYourMark #NoLimitations Targeted at B2B Monthly Monthly Reach : 676 - 4.2k Reach : 381 Link Clicks : 33- 2.4k - 209 Leads : 4 - 26 Paid Social Paidand Social Facebook Instagram LinkedIn Targeted at 18 - 50 with Lead Campaign interest in arts.

£ 400.00

1.70%

10.05%

2.50%

24.62%

1.70%

4.54%

73 £ 150.00 £ 280.00

1.70% 3.18%

#MakeYourMark #NoLimitations

Time Period

October October to December

October

October to December

October

Monthly Reach : 676 - 4.2k Type Link Clicks : 33 - 209 Paid Social Facebook and Instagram Lead at Campaign Targeted 18 - 50 with A / B Testing interest in arts.

Total Expenses

% of Total Budget

£ 200.00 £ 150.00

2.27% 1.70%

Targeted at B2B #MakeYourMark #NoLimitations Reach : 381 - 2.4k Leads : 4 --26 Reach : 665 4.2k Paid Social Link Clicks : 28 - 175 LinkedIn Paid Social Facebook and Instagram Lead Campaign A / B Testing £ 140.00 Targeted at 24 - 50 with interest in arts and creative Targeted at B2B businesses and industry including entrepreneurship Reach: 61k - 210k £ 150.00 and freelancing. Leads : 73 - 300 Marketing Week #MakeYourMark Festival #NoLimitations £ 885.00 Ticket, Travel and Gallery Reach : 587 - 3.7k Space Rental Link Clicks : 28 - 176 Two B2B Press Releases £ 220.00

1.59%

1.70%

10.05%

2.50%

Guerilla Marketing Paid Social LinkedIn

October October to December

Printing Targetedofattear-off 25-54 flyersinand £ 2,167.55 interested arts and distribution. entertainment, marketing £ 90.00 and advertising, society and 10,000 leaflets in 10 cities. culture.

24.62% 1.02%

Paid Social Reach : 15,000 - 88,000 Facebook and Instagram Link Clicks : 30 - 72 January

TwoLead B2B Press Releases Campaign

£ 220.00

2.50%

November to December

Paid Social Targeted at B2B Facebook and Instagram

£ 400.00

4.54%

March

November to December

Monthly Targeted at 16 - 50 with Reach : 381 - 2.4k interest in arts Leads : 4 - 26 £ Paid Social International Womens Day LinkedIn Campaign Lead Campaign Reach : 1.5k - 7.3k Link Clicks : 47 - 270 Targeted at B2B Paid Social Monthly LinkedIn

50.00

0.57%

£ 280.00

3.18%

International Womens Day Campaign

Time Period

Reach : 1.5k - 7.3k Type Link Clicks : 47 - 270 Paid Social Paid Social Facebook and Instagram LinkedIn

October March

August October

Lead Campaign Targeted at 16 - 50 with A / B Testing interest in arts Targeted at B2B International Womens Day Campaign Reach : 381 - 2.4k Leads : 4 - 26 Reach : 15k - 88k Paid Social Link Clicks : 30 - 72 LinkedIn Personal Exhibition LeadContest Campaign A / B Testing

Total Expenses

% of Total Budget

£ 200.00 £ 50.00

2.27% 0.57%

Free

£ 140.00

1.59%

£ 885.00 Free

10.05% 0%

£ 220.00

2.50%

£ 2,167.55

24.62%

B2B Telephone Targeted atMarketing B2B

October Year-Round October

B2B and61k B2C- Email Reach: 210k Marketing Leads : 73 - 300 Marketing Week Organic Social Festival Push Notifications Ticket, Travel and Gallery Space Rental BlogPress Content Two B2B Releases Guerilla Marketing Profile Creation Quiz

October

Year-Round

November to December

Year-Round

Total Marketing Spend: November to December

Printing of tear-off Indirect Marketing flyers and distribution. Influencer Network Paid Social 10,000 leaflets in 10 cities. Facebook and Instagram Paid Social Facebook and Targeted at 18Instagram - 50 with interest in arts Lead Campaign Reach : 31.2k - 204k at B2B LinkTargeted Clicks : 708 - 4464 Paid Social Monthly LinkedIn Reach : 381 - 2.4k Leads 4 -- 26 Targeted at :18 50 with Paid Social interest in arts LinkedIn Reach : 180k - 1,056,000 Campaign LinkLead Clicks : 360 - 864 Targeted at B2B Monthly

13.63%

£ 400.00 £ 1,200.00

4.54%

1560

17.72%

£ 8,062.55 £ 280.00

3.18%

MARKETING COMMUNICATIONS YEARS TWO AND THREE Across the second and third year of Exhibit’s marketing communications, nine major campaigns will be launched. Some of the campaigns featured will include the support of nationally celebrated days, brand partnerships, festival sponsorship and virtual trade shows, all supported by ongoing paid and organic social media, email marketing, push notifications and blog content. 76

Year Two

October

Communication Type Week-long 'National Arts Day' campaign, celebrating the influence of technology on the arts. Encouraging users to post art digital forms on the feed, including animation, photography and interactive design.

Communciation Target

B2C Consumers

Hosted through paid social media on Facebook, Instagram and LinkedIn.

Cost

Taken from B2C Paid Social Budget of £2900

Average reach of 205,750 users.

October

The Brand Development Manager will again attend the Festival of Marketing in London.

B2B Consumers

In February, Exhibit will launch it's month-long partnership with UK Young Artists running a digital takeover alongside the brands city takeover.

February

Artists who are taking part in the takeover will have their contemporary artwork featured on the Exhibit platform.

B2C Consumers

In turn, Exhibit will promote the City Takeover, with paid social media targeting account holders within the city in question. A week long brand collaboration will again be launched for International Women's Day, with organic and paid social media posts.

£885 Ticket, Train and Gallery Space Rental

Taken from B2C Paid Social Budget of £2900

B2B / B2C

Taken from B2C Paid Social Budget of £2900

B2C Consumers

Rental Cost £3500

B2B Telephone Marketing, B2B and B2C Email Marketing, Organic Social, Push Notifications, Blog Year-Round Content, Profile Creation Quiz, Indirect Marketing, Influencer Network

B2B / B2C

Free

Year-Round B2B and B2C Paid Social Content

B2B / B2C

Budget of £5240

March

May

Exhibit will launch a virtual trade show supporting independent artists through an e-commerce exhibition.

TOTAL:

9625

Year Three

Communication Type

Communciation Target

Cost

B2C Consumers

Taken from B2C Paid Social Budget of £3040

B2B Consumers

£885 Ticket, Train and Gallery Space Rental

B2C Consumers

Taken from B2C Paid Social Budget of £3040

B2B / B2C

Taken from B2C Paid Social Budget of £2900

B2C Consumers

Rental Cost £3500

B2B / B2C

Sponsorship £5000

B2B / B2C

Budget of £5520

B2B / B2C

Budget of £5240 £14,905

In December Exhibit will launch it's 'Creative Communities' campaign, celebrating untapped creative communities within the United Kingdom. December Exhibit will create promotional video content for the campaign which will be advertised through paid social media across Facebook, Instagram and LinkedIn.

The campaign will run for a month.

October

The Brand Development Manager will again attend the Festival of Marketing in London.

In February, Exhibit will again launch it's monthlong partnership with UK Young Artists running a digital takeover alongside the brands city takeover.

February

March

May

Artists who are taking part in the takeover will have their contemporary artwork featured on the Exhibit platform. In turn, Exhibit will promote the City Takeover, with paid social media targeting account holders A week long brand collaboration will again be launched for International Women's Day, with organic social media posts. Becoming an annual feature, in May Exhibit will launch the virtual trade show.

In June, Sheffield will host it's annual Documentary Festival which Exhibit will be sponsoring in exchange for exposure to their June audiences at the event through logo placement in catalogues, festival cinemas and the website. B2B Telephone Marketing, B2B and B2C Email Marketing, Organic Social, Push Notifications, Year-Round Blog Content, Profile Creation Quiz, Indirect Marketing, Influencer Network Year-Round B2B and B2C Paid Social Content

TOTAL:

07 OPERATIONS

THE ORGANISATION Exhibit will operate as a limited company. This legal structure is beneficial for the brand due to the limited liability it provides. The brand owner will not be held personally liable for any financial losses accrued by the business, whereas a sole proprietor would be wholly responsible, putting their personal assets at risk (Company Bug, 2017). Exhibit will be partnering with a variety of stakeholders who may consider a limited company to provide a more professional service. In addition to this, the five forces framework (see chapter four) showed the threat of entry within this service to be high. Due to the competitiveness of the market, registering Exhibit as a limited company would ensure protection of the brand’s name under Companies House (Bytestart, 2018). PERSONNEL The Exhibit team will be made up of five employees in its first year, including the brand owner. Due to this the business will need to acquire employer’s liability insurance. This is a legal requirement and will protect the brand against any compensation claims employers may make due to illness or injury. Videographer The Videographer will assist the business owner on brand briefings and support the planning and production of digital exhibitions. Additional website content will be generated by the Videographer for the Exhibit platform using Adobe Creative Cloud. Communications Assistant

The Communications Assistant will manage Exhibit’s public relations, tracking both media coverage and social media activity. They will assist the business owner in the creation of communication strategies and the production of social media and blog content for the platform. Dealing with customer service enquiries, they will also assist in responding to consumers across the brand’s website and social media platforms, building strong relationships with both B2B and B2C consumers.

CRM Executive The CRM Executive will manage email, push-notifications and digital communications, working closely with the Communications Assistant to ensure consistency in cross-channel marketing materials. They will create and manage the CRM campaigns using Salesforce and will report the results of these campaigns to the brand owner. Business Development Manager The Business Development Manager will be responsible for building a clientele for Exhibit’s B2B product portfolio, including the digital exhibitions and Exhibit Recruit. Once initial relationships with clients are formed, the BDM will generate leads and build long-lasting business relationships. Visiting trade shows and conventions, they will promote the brands services and assist in building brand awareness. They will liaise with the communications assistant in discussing any business marketing activities, and work through a handover period of the clientele to the business owner, helping with the creation of client contracts.

PREMISES Exhibit has no fixed premises and will operate out of a shared creative hub in Birmingham. Due to the brand’s product portfolio, a significant amount of working hours will be spent meeting potential clients for the development of the digital exhibitions. In an interview with V21 Artspace, a business that provides virtual exhibition services to galleries and heritage sites, it was uncovered that a permanent office space was unnecessary (appendix thirteen). “There is no benefit, (to a permanent office space) we’ve done it all, unless you just want to get out of the house… If you think about it, you’ve got to be making money from month one but you’re already £500 down from that point… You shouldn’t need to rent an office space as you will be out meeting clients and producing the content.” (V21 Artspace Interview, 2019). Employees will be able to both work remotely and from the creative hub, accessing Microsoft Sharepoint for collaborative working. However, as the business and product portfolio expand, a fixed premises may be necessary due to the increasing numbers of staff and services. EQUIPMENT Exhibit requires equipment with high quality hardware and secure operating systems. Each employee will be provided with a MacBook Pro on starting with the company, complete with a subscription to Adobe Creative Cloud. Exhibit employees will demonstrate a high level of cross-collaboration within their roles; therefore, it is important that each employee has access to the same systems. With regards to the creation of the digital exhibitions, the brand will purchase an Insta360 One X camera, and in addition the Real Estate Kit to assist in the production of virtual tours, and a Fuji-Film X-T3 still and moving image camera for the creation of additional content. Although Exhibit has no fixed premises, a contents insurance policy will be taken out to cover any damages to equipment, for example cameras, whilst travelling to and from client’s sites (AXA Insurance, 2019). INSURANCE Exhibit will be working with external clients in the creation of digital exhibitions and promotional content, requiring access to client sites. Due to this, the brand requires public liability insurance to ensure that compensation payments are covered should any accidents occur, any damages will be repaired or replaced and in the defence of any of these claims legal expenses will be paid (AXA Insurance, 2019). Professional indemnity insurance will provide cover for possible legal and compensation fees accrued by the business in regards to data, slander and defamation. Due to the vast amount of customer data Exhibit will hold, insurance must cover Exhibit if this information is unintentionally disclosed. In addition to this, should Exhibit be accused of slander or copyright in the material published on the platform, professional indemnity insurance will cover any costs faced (AXA Insurance, 2019). * for justification of expenses see appendix fourteen.

08 FINANCIALS

INITIAL FUNDING Innovate UK Smart Grant and Lloyds Bank Business Loan Exhibit meets the criteria to apply for the Innovate UK Smart grant, offered to innovative and disruptive start-ups. As the brand will bring access to the arts and creative industries using technology, it fills the requirements due to prospective rapid commercialisation, catering for consumer needs and potential to reach a global market (GOV.UK, 2019) Innovate UK offers eligible product costs ranging from £25,000 to 2 million, Exhibit would require £75,000 to pay for the provision of the technology, including the development of its website and app. The brand will also acquire further funding through a business bank loan from Lloyds Bank and will benefit from a £10,000 personal investment from the business owner. Exhibit will take out a fixed rate loan for £60,000. The brand is eligible for this loan as it is required for business use and the brand owner has authority to borrow on behalf of the business (Lloyds Banks, 2019). This loan will assist with the purchasing of equipment and software, hiring employees, insurance and trademark costs.

£19.99 per month

Business Accounts

£9.99 per month

Exhibit will aim to acquire 95 new businesses per year during its first three years.

Two clients per month

Potential Customer Base

This figure is divided over the first three financial years, averaging at 95 new business accounts per year.

0.1% of this customer base are Exhibit's total potential trialists (Lamb, 2017) at 284.

There are 284,000 creative businesses in the United Kingdom.

Exhibit will create two digital exhibitions per month. This is based on the one week production period for each exhibit, in addition to the two week promotional period following launch.

Justification of Potential Customer Base

A survey was conducted with Exhibit’s target audience to distinguish the percentage of Exhibit will aim to acquire customers who would be willing to pay for a 2335 sign-ups within its premium service. 27% of consumers stated they first three years. would be willing to pay £10 or more per month to access the Exhibit platform

In order to find the total potential number of potential trialists for premium customer accounts, the number of creative individuals aged 16+ was identified and a 0.1% potential trial rate was taken.

Out of the potential 95 business account sign-ups As the ability to purchase job packages is one of per year, an estimated the primary reasons of purchasing a business The majority of Exhibit's primary competitors were charging for job postings as a package rate, 1/3 of these will purchase account, it is not unrealistic to expect at least and as Exhibit is new to the market, they offer a job pack. 1/3 of signed-up brands to do so. competitive pricing with the average cost being the three job listing package at £320.

The cost-structure of Exhibit Recruit was created after consulting competitors' pricing strategies.

An analysis of competitors' pricing strategies was completed, with £19.99 being a competitive price.

In addition to the cost of mileage*, a variety of other costs are accrued through the provision and maintenance of the equipment, the salaries of the business owner and videographer who will be creating the content and providing the service, ongoing running costs for the platforms website and app and the marketing costs to advertise the exhibition, driving traffic to both the Exhibit platform and the platform of the brand

The justification for the cost of the Digital Exhibition service lies in the cost of goods required to provide the service to Exhibit’s business customers.

Justification of Price

*To gather an estimation on the mileage incurred to travel to various brands across the United Kingdom, the cost-per-mile from the brands location in Birmingham to the ten cities with the most creative businesses was calculated as an average cost of £266.00 per round-trip †Job packages are available as one job, three job and five job packages. For the P/L calculation, the three job package was used to estimate potential revenue per year.

Premium Customer Accounts

£320 per three job package†

£4,000 per digital exhibition

Digital Exhibition

Exhibit Recruit

Price

Income Stream

Revenue Market Potential and Revenue

MARKET POTENTIAL AND REVENUE

84 0

Business Accounts units sold Sale price @ unit Business Accounts TOTAL

Premium Customer Accounts units sold Sale price @ unit Premium Customer Accounts TOTAL

Monthly totals: All Categories

Exhibit Recruit units sold Sale price @ unit Exhibit Recruit TOTAL

0 0

Oct-19

Digital Exhibitions units sold Sale price @ unit Digital Exhibitions TOTAL

Fiscal Year Begins

Sales Forecast (12 Months) Exhibit

Oct-19

Nov-19

For justification of sales see appendix fifteen.

SALES FORECAST YEARS ONE TO THREE

Dec-19

2 4,000.00 8,000

2 320.00 640 7 19.99 140 16 9.99 160 8,940

2 320.00 640 6 19.99 120 15 9.99 150 8,910

Feb-20

2 4,000.00 8,000

Jan-20

8,930

17 9.99 170

6 19.99 120

2 320.00 640

2 4,000.00 8,000

Mar-20

8,980

20 9.99 200

7 19.99 140

2 320.00 640

2 4,000.00 8,000

Apr-20

9,310

19 9.99 190

8 19.99 160

3 320.00 960

2 4,000.00 8,000

May-20

9,360

20 9.99 200

10 19.99 200

3 320.00 960

2 4,000.00 8,000

Jun-20

12-month Sales Forecast (£)

9,300

16 9.99 160

9 19.99 180

3 320.00 960

2 4,000.00 8,000

Jul-20

9,340

18 9.99 180

10 19.99 200

3 320.00 960

2 4,000.00 8,000

Aug-20

10,090

21 9.99 210

14 19.99 280

5 320.00 1,600

2 4,000.00 8,000

Sep-20

83158

162 89.91 1,618

77 179.91 1,539

25 2880.00 8,000

Annual Totals 18 36000.00 72,000

Monthly totals: All Categories

Premium Customer Accounts units sold Sale price @ unit Premium Customer Accounts TOTAL

Business Accounts units sold Sale price @ unit Business Accounts TOTAL

Exhibit Recruit units sold Sale price @ unit Exhibit Recruit TOTAL

Digital Exhibitions units sold Sale price @ unit Digital Exhibitions TOTAL

Fiscal Year Begins

Sales Forecast (12 Months) Exhibit

Monthly totals: All Categories

Premium Customer Accounts units sold Sale price @ unit Premium Customer Accounts TOTAL

Business Accounts units sold Sale price @ unit Business Accounts TOTAL

Exhibit Recruit units sold Sale price @ unit Exhibit Recruit TOTAL

Digital Exhibitions units sold Sale price @ unit Digital Exhibitions TOTAL

Fiscal Year Begins

Sales Forecast (12 Months) Exhibit

7 19.99 140 16 9.99 160 8,940

12 19.99 240

19 9.99 190

9,710

3 4,000.00 12,000

3 320.00 960 8 19.99 160 16 9.99 160 13,280

4 320.00 1,280 11 19.99 220 21 9.99 210

13,710

Nov-21

3 4,000.00 12,000

Oct-21

2 320.00 640

4 320.00 1,280

Oct-21

2 4,000.00 8,000

Nov-20

2 4,000.00 8,000

Oct-20

12,920

14 9.99 140

7 19.99 140

2 320.00 640

3 4,000.00 12,000

Dec-21

8,900

14 9.99 140

6 19.99 120

2 320.00 640

2 4,000.00 8,000

Dec-20

13,350

19 9.99 190

10 19.99 200

3 320.00 960

3 4,000.00 12,000

Jan-22

9,320

18 9.99 180

9 19.99 180

3 320.00 960

2 4,000.00 8,000

Jan-21

13,340

20 9.99 200

9 19.99 180

3 320.00 960

3 4,000.00 12,000

Feb-22

9,320

20 9.99 200

8 19.99 160

3 320.00 960

2 4,000.00 8,000

Feb-21

12,950

17 9.99 170

7 19.99 140

2 320.00 640

3 4,000.00 12,000

Mar-22

8,980

20 9.99 200

7 19.99 140

2 320.00 640

2 4,000.00 8,000

Apr-21

13,280

16 9.99 160

8 19.99 160

3 320.00 960

3 4,000.00 12,000

May-21

13,300

18 9.99 180

8 19.99 160

3 320.00 960

3 4,000.00 12,000

Apr-22

13,300

16 9.99 160

9 19.99 180

3 320.00 960

3 4,000.00 12,000

May-22

12,930

15 9.99 150

7 19.99 140

2 320.00 640

3 4,000.00 12,000

12,950

17 9.99 170

7 19.99 140

2 320.00 640

3 4,000.00 12,000

13,290

15 9.99 150

9 19.99 180

3 320.00 960

3 4,000.00 12,000

14,120

22 9.99 220

15 19.99 300

5 320.00 1,600

3 4,000.00 12,000

130977

210 119.88 2,098

100 239.88 1,999

30 3840.00 10,880

Annual Totals 29 48000.00 116,000

159437

210 119.88 2,098

107 239.88 2,139

30 3840.00 11,200

Annual Totals 36 48000.00 144,000

13,720

20 9.99 200

12 19.99 240

4 320.00 1,280

3 4,000.00 12,000

Sep-21

Sep-22

13,260

14 9.99 140

8 19.99 160

3 320.00 960

3 4,000.00 12,000

Aug-21

Aug-22

12,910

15 9.99 150

6 19.99 120

2 320.00 640

3 4,000.00 12,000

Jul-21

Jul-22

13,330

19 9.99 190

9 19.99 180

3 320.00 960

3 4,000.00 12,000

Jun-21

Jun-22

12-month Sales Forecast (£)

9,310

19 9.99 190

8 19.99 160

3 320.00 960

2 4,000.00 8,000

Mar-21

12-month Sales Forecast (£)

733.8 147.4 8,309.9 83.3 120.0 46,000.0 267.0 9,785.0 29,000.0 150.0 220.0 12.0 94,828.4 (94,828.4)

(94,828.4)

Interest Expense Earnings Before Taxes

Income Taxes Net Earnings

OCT -

Expenses Advertising & Promotion Depreciation Insurance Equipment Accountant CRM Database Website Development Website Maintenance Salaries and Pensions App Development App Software Maintenance Creative Hub (Impact Hub Birmingham) Trademark Costs Business Registration Total Expenses Earnings Before Interest & Taxes

Cost of Goods Sold Gross Profit

Digital Exhibitions Exhibit Recruit Business Accounts Premium Customer Accounts Total Net Revenue

Profit and Loss (P&L) Statement [GBP £]

Exhibit

PROFIT AND LOSS YEARS ONE TO THREE

86 (12,110.3)

(12,110.3)

12,110.3 (12,110.3)

12,110.3 (12,110.3) (12,110.3)

733.8 104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0

DEC -

733.8 104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0

NOV -

(3,906.5)

12,110.3 (3,906.5)

733.8 104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0

696.0 8,203.8

JAN 8,000.0 640.0 119.9 139.9 8,899.8

(3,606.7)

12,110.3 (3,606.7)

733.8 104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0

696.0 8,503.6

FEB 8,000.0 640.0 259.9 299.7 9,199.6

(3,317.0)

12,110.3 (3,317.0)

733.8 104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0

696.0 8,793.3

MAR 8,000.0 640.0 379.8 469.5 9,489.3

(2,977.2)

12,110.3 (2,977.2)

733.8 104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0

696.0 9,133.1

2019 / 20 APR 8,000.0 640.0 519.7 669.3 9,829.1

(2,327.5)

12,110.3 (2,327.5)

733.8 104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0

696.0 9,782.8

MAY 8,000.0 960.0 659.7 859.1 10,478.8

(1,927.8)

12,110.3 (1,927.8)

733.8 104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0

696.0 10,182.5

JUN 8,000.0 960.0 859.6 1,058.9 10,878.5

(1,588.0)

12,110.3 (1,588.0)

733.8 104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0

696.0 10,522.3

JUL 8,000.0 960.0 1,039.5 1,218.8 11,218.3

(1,208.3)

12,110.3 (1,208.3)

733.8 104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0

696.0 10,902.0

AUG 8,000.0 960.0 1,239.4 1,398.6 11,598.0

(78.7)

12,110.3 (78.7)

733.8 104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0

696.0 12,031.6

SEP 8,000.0 1,600.0 1,519.2 1,608.4 12,727.6

(139,986.7)

8,805.6 1,152.8 1,768.8 10,905.9 999.6 1,440.0 46,000.0 3,204.0 117,420.0 29,000.0 5,313.0 1,800.0 220.0 12.0 228,041.7 (139,986.7)

6,264.0 88,055.0

Full Year 72,000.0 8,000.0 6,596.7 7,722.3 94,319.0

Exhibit

696.0 12,141.3

12,100.0 104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0 23,326.5 (11,185.1)

(11,185.1)

Expenses Advertising & Promotion Depreciation & Amortization Insurance Equipment Accountant CRM Database Website Maintenance Salaries and Pensions App Software Maintenance Creative Hub (Impact Hub Birmingham) Total Expenses Earnings Before Interest & Taxes

Interest Expense Earnings Before Taxes

Income Taxes Net Earnings

OCT 8,000.0 1,280.0 1,759.1 1,798.2 12,837.3

Cost of Goods Sold Gross Profit

Digital Exhibitions Exhibit Recruit Business Accounts Premium Customer Accounts Total Net Revenue

Profit and Loss (P&L) Statement [GBP £]

594.6

104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0 11,226.5 594.6

696.0 11,821.1

NOV 8,000.0 640.0 1,919.0 1,958.0 12,517.1

854.4

104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0 11,226.5 854.4

696.0 12,080.9

DEC 8,000.0 640.0 2,039.0 2,097.9 12,776.9

1,514.2

104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0 11,226.5 1,514.2

696.0 12,740.6

JAN 8,000.0 960.0 2,198.9 2,277.7 13,436.6

1,873.9

104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0 11,226.5 1,873.9

696.0 13,100.3

FEB 8,000.0 960.0 2,358.8 2,477.5 13,796.3

2,223.6

104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0 11,226.5 2,223.6

696.0 13,450.1

MAR 8,000.0 960.0 2,518.7 2,667.3 14,146.1

2,263.3

104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0 11,226.5 2,263.3

696.0 13,489.8

2020 / 21 APR 8,000.0 640.0 2,678.7 2,867.1 14,185.8

2,883.1

104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0 11,226.5 2,883.1

696.0 14,109.6

MAY 8,000.0 960.0 2,818.6 3,027.0 14,805.6

3,252.8

104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0 11,226.5 3,252.8

696.0 14,479.3

JUN 8,000.0 960.0 2,998.5 3,216.8 15,175.3

3,222.6

104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0 11,226.5 3,222.6

696.0 14,449.1

JUL 8,000.0 640.0 3,138.4 3,366.6 15,145.1

3,822.4

104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0 11,226.5 3,822.4

696.0 15,048.9

AUG 8,000.0 960.0 3,278.4 3,506.5 15,744.9

4,582.1

104.8 147.4 236.0 83.3 120.0 267.0 9,785.0 483.0 150.0 11,226.5 4,582.1

696.0 15,808.5

SEP 8,000.0 1,280.0 3,518.2 3,706.3 16,504.5

15,902.0

12,100.0 1,257.6 1,768.2 2,832.0 999.6 1,440.0 3,204.0 117,420.0 5,796.0 1,800.0 146,817.4 15,902.0

8,352.0 162,719.4

Full Year 96,000.0 10,880.0 31,224.4 32,967.0 171,071.4

1,044.0 19,890.2

17,000.0 104.8 147.4 236.0 83.3 120.0 13,217.5 483.0 150.0 31,542.0 (11,651.7)

(11,651.7)

Expenses Advertising & Promotion Depreciation & Amortization Insurance Equipment Accountant CRM Database Salaries and Pensions App Software Maintenance Creative Hub (Impact Hub Birmingham) Total Expenses Earnings Before Interest & Taxes

Interest Expense Earnings Before Taxes

Income Taxes Net Earnings

OCT 12,000.0 1,280.0 3,738.1 3,916.1 20,934.2

Cost of Goods Sold Gross Profit

Digital Exhibitions Exhibit Recruit Business Accounts Premium Customer Accounts Total Net Revenue

Profit and Loss (P&L) Statement [GBP £]

Exhibit

88 5,348.0

5,348.0

104.8 147.4 236.0 83.3 120.0 13,217.5 483.0 150.0 14,542.0 5,348.0

1,044.0 19,890.0

NOV 12,000.0 960.0 3,898.1 4,075.9 20,934.0

5,327.8

104.8 147.4 236.0 83.3 120.0 13,217.5 483.0 150.0 14,542.0 5,327.8

1,044.0 19,869.8

DEC 12,000.0 640.0 4,058.0 4,215.8 20,913.8

6,017.5

104.8 147.4 236.0 83.3 120.0 13,217.5 483.0 150.0 14,542.0 6,017.5

1,044.0 20,559.5

JAN 12,000.0 960.0 4,237.9 4,405.6 21,603.5

6,397.2

104.8 147.4 236.0 83.3 120.0 13,217.5 483.0 150.0 14,542.0 6,397.2

1,044.0 20,939.2

FEB 12,000.0 960.0 4,417.8 4,605.4 21,983.2

6,407.0

104.8 147.4 236.0 83.3 120.0 13,217.5 483.0 150.0 14,542.0 6,407.0

1,044.0 20,948.9

MAR 12,000.0 640.0 4,577.7 4,775.2 21,992.9

7,046.7

104.8 147.4 236.0 83.3 120.0 13,217.5 483.0 150.0 14,542.0 7,046.7

1,044.0 21,588.7

2021/ 22 APR 12,000.0 960.0 4,717.6 4,955.0 22,632.7

7,386.5

104.8 147.4 236.0 83.3 120.0 13,217.5 483.0 150.0 14,542.0 7,386.5

1,044.0 21,928.4

MAY 12,000.0 960.0 4,897.6 5,114.9 22,972.4

7,376.3

104.8 147.4 236.0 83.3 120.0 13,217.5 483.0 150.0 14,542.0 7,376.3

1,044.0 21,918.2

JUN 12,000.0 640.0 5,057.5 5,264.7 22,962.2

7,686.0

104.8 147.4 236.0 83.3 120.0 13,217.5 483.0 150.0 14,542.0 7,686.0

1,044.0 22,228.0

JUL 12,000.0 640.0 5,197.4 5,434.6 23,272.0

8,315.8

104.8 147.4 236.0 83.3 120.0 13,217.5 483.0 150.0 14,542.0 8,315.8

1,044.0 22,857.7

AUG 12,000.0 960.0 5,357.3 5,584.4 23,901.7

9,475.4

104.8 147.4 236.0 83.3 120.0 13,217.5 483.0 150.0 14,542.0 9,475.4

1,044.0 24,017.4

SEP 12,000.0 1,600.0 5,657.2 5,804.2 25,061.4

82,132.5

17,000.0 1,257.6 1,768.2 2,832.0 999.6 1,440.0 158,610.0 5,796.0 1,800.0 174,503.4 82,132.5

12,528.0 256,635.9

Full Year 144,000.0 11,200.0 55,812.1 58,151.8 269,163.9

£ £ £

Gross Profit 88,054.97 162,719.38 256,635.87

£ £ £

+20% (Gross Profit) 105,665.96 195,263.26 307,963.04 £ £ £

-20% (Gross Profit) Net Earnings +20% (Net Earnings) -20% (Net Earnings) 70,443.98 -£ 139,986.68 -£ 122,375.69 -£ 157,597.67 130,175.50 £ 15,901.98 £ 48,445.86 -£ 16,641.90 205,308.70 £ 82,132.47 £ 133,459.64 £ 30,805.30

Conversly, if Exhibit were to underpeform by 20%, the company would require a bigger cash injection resulting in higher borrowing. Financial pressures may force Exhibit to sacrfice inhouse staff and instead depend on freelance employees, which could be prove more costly over a longer period of time.

Summary On conducting the sensitivity analysis, it was found that a 20% increase in revenue would greatly ease the financial burdens placed on Exhibit during its first and second years. A higher revenue stream would mean reduced borrowing, as well as more flexibility in its spending. This could mean more investment in its marketing budget, which would in turn result in higher sales numbers.

Financial Year 2019-2020 2020-2021 2021-2022

SENSITIVITY ANALYSIS

CASH FLOW

0.00 135000.00 135000.00 0.00 0.00 94828.40 135000.00 40171.60

Opening Cash Balance Incoming Cash Outgoing Cash Closing Cash Balance

150.00

733.80 147.40 83.30 120.00 267.00 9785.00

8309.90 46000.00 29000.00 12.00 220.00

0.00

94828.40

135000.00

75000.00 60000.00 10000.00

Cash Injection Oct

Total Outgoing Costs

Recurring Costs Advertising and Promotion Insurance Accountant CRM Database Website Maintenance Salaries and Pensions App Software Maintenace Creative Hub (Impact Hub Birmingham) Depreciation

Start-Up Costs Equipment Website Development App Development Business Registration Trademark Costs

Outflow

Total Revenue / Cash Injection

Innovate UK Smart Grant Lloyd Bank Business Loan Personal Investment

Total Revenue

Revenue Digital Exhibitions Exhibit Recruit Business Accounts Premium Customer Accounts

Inflow

Cash Flow

90 -

40171.60 0.00 12110.30 28061.30

12110.30

733.80 147.40 83.30 120.00 267.00 9785.00 483.00 150.00 104.80

236.00

0.00

Nov -

28061.30 0.00 12110.30 15951.00

12110.30

733.80 147.40 83.30 120.00 267.00 9785.00 483.00 150.00 104.80

236.00

0.00

Dec

733.80 147.40 83.30 120.00 267.00 9785.00 483.00 150.00 104.80

236.00

8899.80

8000.00 640.00 119.90 139.90

15951.00 8899.80 12110.30 12740.50

12110.30

Jan

12740.50 9199.60 12110.30 9829.80

12110.30

733.80 147.40 83.30 120.00 267.00 9785.00 483.00 150.00 104.80

236.00

9199.60

8000.00 640.00 259.90 299.70

Feb

9829.80 9489.30 12110.30 7208.80

12110.30

733.80 147.40 83.30 120.00 267.00 9785.00 483.00 150.00 104.80

236.00

9489.30

8000.00 640.00 379.80 469.50

Mar

7208.80 9829.00 12110.30 4927.50

12110.30

733.80 147.40 83.30 120.00 267.00 9785.00 483.00 150.00 104.80

236.00

9829.00

8000.00 640.00 519.70 669.30

Apr

4927.50 10478.80 12110.30 3296.00

12110.30

733.80 147.40 83.30 120.00 267.00 9785.00 483.00 150.00 104.80

236.00

10478.80

8000.00 960.00 659.70 859.10

May 8000.00 960.00 859.60 1058.90

3296.00 10878.50 12110.30 2064.20

12110.30

733.80 147.40 83.30 120.00 267.00 9785.00 483.00 150.00 104.80

236.00

10878.50

Jun 8000.00 960.00 1039.50 1218.80

2064.20 11218.30 12110.30 1172.20

12110.30

733.80 147.40 83.30 120.00 267.00 9785.00 483.00 150.00 104.80

236.00

11218.30

Jul

1172.20 11598.00 12110.30 659.90

12110.30

733.80 147.40 83.30 120.00 267.00 9785.00 483.00 150.00 104.80

236.00

11598.00

8000.00 960.00 1239.40 1398.60

Aug

94318.90

72000.00 8000.00 6596.70 7722.20

TOTAL

10905.90 46000.00 29000.00 12.00 220.00

659.90 12727.60 12110.30 1277.20

12110.30 228041.70

733.80 8805.60 147.40 1768.80 83.30 999.60 120.00 1440.00 267.00 3204.00 9785.00 117420.00 483.00 5313.00 150.00 1800.00 104.80 1152.80

236.00

12727.60 229318.90

12727.60

8000.00 1600.00 1519.20 1608.40

Sep

KEY PERFORMANCE INDICATORS Establishing KPIs is an important process in enabling a business to be sustainable and grow. By evaluating its key performance indicators, Exhibit can develop foresight and plan ahead if they believe they may not meet their targets. It is important to set targets within four areas of business development for the brand to be able to see where they are at in relation to achieving their goals.

Performance Area

Key Performance Indicator

How it will be measured?

Performance

- Number of new accounts

- Number of user, premium and

created.

- Monthly sales growth

Awareness

Engagement

- Revenue generated through sales of

digital exhibitions, job packages and account sign-ups.

- Digital exhibition creation

- Number of digital exhibitions being

- Effectiveness of Exhibit Recruit platform

- Revenue generated through

- Increased online presence.

- Total impressions from paid social

- Digital and print media exposure.

- Enquiries driven through press

- Leads generated from paid

- Click-through rate on paid social

social content.

- Users engaging with email

marketing communications.

produced per annum by Exhibit and number enquiries for digital exhibition creation. Exhibit Recruit, number of job listings on the platform and hire success rate. content and influencer content.

releases published in selected publications, circulation of print/ digital media featuring the brand. content and number of enquiries attributed to paid social content.

- Number of users opted-in to

marketing emails, and open and clickthrough rates

- Traffic on Exhibit website and

- Google Analytics tracking high

- Customer acquisition driven

- Sign-ups attributed to flyering

- Customer retention.

- Renewal of paid premium and

- Repeat customer engagement.

- Google Analytics tracking new vs

- User recommendations and referrals.

- Number of new accounts created as a

mobile app.

through awareness campaigns.

Loyalty

business account sign-ups.

performing areas of the website and app, and which channels are driving traffic. campaign, paid social content and influencer marketing. business accounts/churn rate. repeat visitors on the Exhibit website and app. results of word-of mouth marketing

FUTURE PROJECTIONS Exhibit’s future projection relies upon how it will utilise developments in technology to create further opportunities in the creative industries, for individuals that were previously unable to access them. Exhibit Learn, a platform designed to provide creative online courses to users, could harness artificial intelligence to provide virtual tutors, offering users tailored packages depending on their interests and skill level. The future service could remove barriers to education and offer individuals an opportunity to learn in a way best suited to them. By generating a market development strategy, Exhibit could expand its product portfolio into the European market. Through collaboration with European brands, Exhibit could further captilise on its emotional selling point of accessibility, allowing users to network with users and businesses from other countries. Exhibit could utilise developing technology to allow users to generate personal exhibitions. This enables users to create a more visually engaging portfolio to house their creativity and share with prospective employers. The brand’s emotional selling point is accessibility and breaking down geographical and socio-economic barriers. This is a message that Exhibit should continue to deliver to consumers, to help create a more diverse creative industry in the future.

CONCLUSION This report aimed to develop a strategic business plan for a new and innovative concept. Previous research conducted within the stage one report uncovered the desire for personal development and networking within Generation Z, who are turning away from traditional value systems and toward social media in assessment them in expanding their horizons (see stage one report). On further research, a scenario plan was conducted based on research from the previous report and current trends and news items. This process plus additional primary and secondary research assisted in the development of foresight into the creative industries, and the current inequalities faced by individuals from certain social and socio-economic classes due to the industry being unrepresentative. This process led to the creation of Exhibit, a platform which represents the true diversity of the creative industries within the UK and nurtures the talents of those that wish to engage with them through equal access to artistic creations, branded exhibitions and industry professionals. In order to attest to the viability of this business, extensive research was carried out into the market which uncovered the growth in the experience economy and the importance of utilising innovations in technology in the creation of events, and providing unrestricted accessibility through virtual attendance. The growth rate of the market attributes to the large number of competitors and the importance of increased differentiation within its product portfolio due to high market opportunity. In addition, primary research into usage habits on social platforms assisted in identifying Exhibits five consumer segments each with varying needs and expectations, helping to inform the marketing communications needed to target each sector efficiently. Finally, a financial planning process was conducted and implement to attest to the brand’s commercial feasibility in terms of its concept, service and price structure. Through the provision of these services which are largely funded by B2B operations, Exhibit provides equal accessibility to its consumers through providing free services appealing to all socio-economic backgrounds and utilises technology to strip back physical barriers and enable virtual attendance to events. The Exhibit brand aims to refute inequalities in social mobility and access to cultural education, and emphasises to consumers that it will no longer be about “who you know”, but about who knows you.

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KEATS, D., 1999, Constructing the Questions. In: Constructing the Questions. Interviewing: A Practical Guide for Students and Professionals. Australia: University of NSW Press, 1999, pp. 35-45. KEEN, A., 2012, The Cult of the Social. In: The Cult of the Social. Digital Vertigo: How Today’s Online Social Revolution is Dividing, Diminishing and Disorientating Us. London, England: Constable and Robinson, 2012, pp. 154. KUSS, D. and GRIFFITHS, M., 2010. An Empirical Study of the Factors Affecting Social Network Service Use. Computers in Human Behaviour, 26 (2). LANIER, J., 2011, Missing Persons. In: Missing Persons. You Are Not A Gadget: A Manifesto. London, England: Penguin, 2011, pp. 4. LIPSETT, A., 2007. Q&amp;A: The New School Leaving Age [online]. . Available at: https://www.theguardian.com/education/2007/nov/29/schools.uk3 [Accessed 22/01/ 2019]. MCADAMS, D., 1993. The Stories We Live By. New York, United States of America: The Guilford Press. MCCALL, G. and SIMMONS, J., 1978a. Identities and Interactions: An Examination of Human Associations in Everyday Life. New York, United States of America: A Division of Macmillan Publishing Co., Inc. MCCALL, G. and SIMMONS, J., 1978b, The Role-Identity Model. In: The Role-Identity Model. Identities and Interactions: An Examination of Human Associations in Everyday Life. New York, United States of America: A Division of Macmillian Publishing Co., Inc., 1978b, pp. 65. MCGREGOR, R. and STOTT, R., 2018. Morality Recoded [online]. . Available at: https://www-lsnglobal-com.ntu.idm.oclc.org/macro-trends/article/22092/morality-recoded [Accessed 20/01/ 2019]. MCLEAN, K. and SYED, M., 2015a. The Oxford Handbook of Identity Development. New York: Oxford University Press. MCLEAN, K. and SYED, M., 2015b, Theoretical Foundations of Identity . In: Theoretical Foundations of Identity . The Oxford Handbook of Identity Development. New York: Oxford University Press, 2015b, pp. 11. MICKIEWICZ, M., 2017. Next-Generation Apps. LS:N Global. MICKIEWICZ, M., BUCHANAN, V. and STOTT, R., 2018. Gen Viz [online]. . Available at: https://www.lsnglobal.com/macro-trends/article/19109/gen-viz. MORRIS, C., 1967. Mind, Self and Society: From the Standpoint of a Social Behaviourist. Chicago, United States of America: University of Chicago Press. NAGY, P. and KOLES, B., 2014. The Digital Transformation of Human Identity: Towards a Conceptual Model of Virtual Identity in Virtual Worlds. The International Journal of Research into New Media Technologies, 20 (3), 276-292. NEMEDI, D., 1995. Collective Consciousness, Morphology and Collective Representations: Durkheim’s Sociology of Knowledge. Sociological Perspectives, 38 (1), 42.

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APPENDICES

1. SCENARIO PLAN

Scenario 1 The increased need for instant gratification paired with rapid developments in artificial intelligence have inflicted a new sense of reality. Fewer people are competing for roles due to the rising jobs market, however an increased digital skill-set is leading to a lack in soft-skill development leaving the country in an epidemic skill-shortage. In addition to this, the ageing society could slow economic development by 3% by 2050 due to the shrinking workforce. To combat this, artificial intelligence systems are filling the role of service jobs, using digital employees to maximise efficiency and allow for twenty-hour hour work days. Scenario 2 Increased connectivity and advances in technology allow businesses to operate on a global scale with ease. The growing reliance on technology causes environmental strain due to the significant increase in data centres, servers and manufacturing, and by 2030 the ICT industry’s carbon footprint will grow by at least 60%.

Scenario 3 The increase in automation, particularly within the service and manufacturing sectors, leads to an influx of jobs in the ICT and creative industries. Demand soars for creative and digital skill sets, which remain protected from automation. As demand outweighs supply, the UK skills shortage drives creative salaries to a record high; however, the recruitment process to fill these roles takes significantly longer. Government-led training initiatives are introduced to encourage more people into these sectors. Scenario 4 The widespread usage of mobile devices and social platforms is heavily linked to a large spike in mental health issues, particularly in young people. Significant investments are made in mental health services, particularly within schools and educational systems, to help manage this. Governments begin introducing legislation to regulate internet usage, with the onus placed on big tech companies to combat sensitive material. The regulations are met with widespread concern, as many worry that the new laws restrict freedom of speech and result in an increased marginalisation of minority groups.

2. CONCEPT TESTING CONSUMER SURVEY

Do you agree with this statement: Having more money can make accessing creative opportunities easier Disagree 4% Neutral 12%

Strongly Agree 48%

Agree 36%

Strongly Agree

Agree

Neutral

Disagree

Do you agree with this statement: It's difficult to access free services to help develop creative skills Disagree 8%

Strongly Disagree 2%

Strongly Agree 12%

Neutral 16%

Agree 62%

Strongly Agree

Agree

Neutral

Disagree

Strongly Disagree

Do you agree with this statement: "It is difficult to get a job in the creative industries." Disagree 10%

Strongly Disagree 2%

Strongly Agree 26%

Neutral 14%

Agree 48% Strongly Agree

Agree

Neutral

Disagree

Strongly Disagree

Would you use a service that gave you the ability to ask creative industry professionals questions for free? No 8%

Maybe 20%

Yes 72%

Yes

3. INSTAGRAM POLL

Maybe

4. COMPETITIVE MATRIX

Competitive Matrix

Mission

Product offering

Exhibit

"Exhibit was created to promote and support the diversity of artists and their art forms. By providing a digital platform which aims to erase exclusivity, Exhibit encourages an eclectic, engaging and emotive creative scene."

creating brand exhibits - 360* studio tours - 'meet the maker / meet the brand' live talks - shop - promotional video apply for and recruit for jobs profile creation with premium offering networking opportunities

freemium model £9.99 p/m for premium consumers

Income

businesses talent solutions job postings exhibit service ad revenue from exhibits

"Connect the worlds professionals to make them more productive and successful."

create either a company or individual profile connect with others post projects apply for and recruit for jobs build a network access e-learning (paid) network with possible employers and other professionals

freemium model £24.98 p/m for consumers e-learning courses talent solutions, marketing solutions, premium subscriptions companies can sign up to programmes assisting in hiring, marketing, selling and e-learning

The Dots

Mixer

The Drum

Creativepool

"Connecting, supporting, and championing the people, teams and companies that make ideas happen."

“We are creating the best platform for creatives to showcase their work, connect with their peers, and find opportunities to work while also providing the most efficient marketplace for companies in need of professional services”

“We believe marketing can change the world. It’s a statement that expresses our belief in marketing’s transformative powers, and calls on the industry to consider the effect its work has on the world at large. Most importantly, it commits us to creating content that inspires as much as it informs.”

"Don't just think differently, but do differently."

creative networking app the service is for both providing resources (eg. the individual creatives and companies reports, white papers and build a profile, connect with companies can also use the events) to registered customers app to source talent others, post past projects, side helps to both network with hustles, add your skills and others and recruit. video content / webinars to education, message feature, individuals can post projects registered customers apply for jobs, look at others individuals can showcase and content to their page projects. their work when creating an search live jobs account. link accounts such as marketing and company news companies instagram, soundcloud, and information post jobs, hire talent, join a companies can hire talent. vimeo, spotify, youtube, recruiter plan to assist with behance etc. opinion pieces hiring talent, job applicant articles containing careers management system filters advice within the creative discover and connect more business focussed than candidates for them. industries. with other vetted the individual members.

core revenue comes from clients subscribing to the platforms recruitment and search features so they can hire people and teams directly through the platform. freemium model individuals and companies join and set up profiles, they can either pay to headhunt talent or advertise jobs, workspaces and courses on the site, or earn free credit by inviting new individuals and companies to join the platform (an advert for a full time job is around £150)

consultancy - finding marketing suppliers for clients specific briefs.

partnering with companies. in-app purchases. after a trial period accepted members can purchase a subscription autorenewing either monthly at $9.99, every six months at $39.99 or every twelve months at $65.99.

the drum network build your profile and get seen by other people within industry.

individuals creativepool pro’s account £19.99 p/y

annual fee basic - £2000 premium - £3995 platinum - £7995

companies company pro accounts < 15 employees £49 p/m 15 + employees £99 p/m

drum studios - branded content arm of the drum. creating branded content for clients to show consumers, using audience understanding and editorial experitise to create brand stories.

recruitment packages p/y premium £195 premium featured £395 premium shortlist £995

optimised for mobile app

optimised for mobile

app

e-learning (paid)

exhibit page Website

newsletter / physical magazine optimised for mobile

networking

content feed

applying/recruiting for jobs

exhibit recruit page optimised for multi-media content direct messaging (unlimited for premium members)

sharing company news and content send messages (some individuals require premium)

the-dots tips and insights articles, interviews and advice for creatives social media (twitter, instagram) no live chat feature no email newsletter

social media (instagram, twitter, facebook, youtube)

add projects

app

link accounts such as instagram, soundcloud, vimeo, spotify, youtube, behance etc.

no live chat feature email newsletter sign up why do people use their services?

discover and connect with other vetted members. filter based on location, industry, and profession.

marketing and company news and information

optimised for mobile sign up to job briefs and alerts online magazine social media (instagram, facebook, twitter, youtube)

opinion pieces subscription services as mentioned above more business focussed than the individual

Communications

pop up events podcast billboards emails app push notifications instagram stories hashtags facebook/twitter/ instagram/youtube tv ads comms focuses on recruitment

b2b and b2c paid social trade shows press releases email marketing app push notifications brand collaboration sponsorships organic social influencer marketing indirect marketing

events emails brand collaborations youtube/twitter/ instagram/facebook app notifications current trend hashtags pr

events brand partnerships magazine instagram/youtube/ facebook/twitter/ pinterest awards direct messaging

pr brand collborations events spotify playlist instagram hashtags

5. CONSUMER SURVEY

What are your favourite platforms for sharing creative content? LinkedIn 6%

Other 4%

YouTube 7% Snapchat 1%

Instagram 37%

Reddit 6%

Pinterest 5%

Facebook 22%

Instagram

Twitter

Twitter 12%

Facebook

Snapchat

YouTube

Other

events annuals q&a's billboards instagram/twitter/ facebook/youtube awards

"Social Sharers" by Age Group 25

18 - 24, 21 20

25 - 31, 17

10 31 - 38, 8

39 - 45, 4

18 - 24

25 - 31

31 - 38

39 - 45

46 - 52, 0

53 +, 0

46 - 52

53 +

How much would you be willing to spend on a monthly subscription to this platform? £15 + 7%

£10 20%

Free 63%

£5 10%

Free

£5

£10

£15 +

Do you consider yourself creative? No 15%

Unsure 17%

Yes 68%

Yes

Unsure

Would you be interested in a social networking platform to share creative work and ideas? No 8%

Maybe 29%

Yes 63%

Yes

Maybe

6. STRATEGY CANVAS

7. HOFACKER’S FIVE STATES OF INFORMATION PROCESSING Exposure - - - -

lead generation strategy directly targeting consumer segments through paid social media advertising. call to action on advertisement (sign up/learn more) cost per thousand impressions

Attention - - - -

engaging copy use of hashtag gif based image to capture attention strong and engaging use of brand colours

Comprehension and Perception - profile creation quiz engages users with the features of the platform - provides a tailored service - recruitment service is kept on a separate page on the platform Yielding and Acceptance - clear call to action demonstrates the idea of account creation - clear navigation bar showing the websites main features - digital exhibition featured on homepage showing the brands main offering - uncomplicated and impactful advertisement Retention - follow up email to account creation - push-notifications - emails targeted with user-specific content - competitions and engaging marketing comms

8. INTERVIEW WITH EXECUTIONAL PROMOTIONS AGENCY

9. FESTIVAL OF MARKETING LONDON : PRICE

10. CENTRALA, BIRMINGHAM : PRICE

11. PRESSAT PRICING

12. SOCIAL MEDIA CAMPAIGN PRICES

13. V21 ARTSPACE INTERVIEW

14. EXPENSES

Expenses Year One

Cost

Expense

Salaries Business owner Business development manager Videographer Communications Assistant CRM Executive Total: Total (per month): (Pensions per month at 3%): Total (salaries and pensions per month):

20000 30000 20000 19000 25000 114000 9500 285 9785

Equipment (October only) Apple MacBooks (for five employees) Adobe Creative Cloud (for four employees p/m) Insta360 OneX Real Estate Kit Fuji-Film X-T3 Still and Moving Image Camera Total:

6245 236 479.85 1349 8309.85

Business Costs Accountant Trademark Costs (October only) Business Registration (October only) Insurance Creative Hub Membership (Impact Hub Birmingham)

Expenses Year Two Salaries Business owner Business development manager Videographer Communications Assistant CRM Executive Total: Total (per month): (Pensions per month at 3%): Total (salaries and pensions per month): Equipment (October only) Adobe Creative Cloud (for four employees p/m) Total: Business Costs Accountant Insurance Creative Hub Membership (Impact Hub Birmingham)

Cost

Software Development CRM Software App Development (October only) App Maintenance (from November) Website Development Website Maintenance

120 29000 483 49000 267

MacBook Depreciation (30% p/a)

104.08

Marketing Budget

6194.7

83.8 220 12 147.35 150

Cost

Expense

20000 30000 20000 19000 25000 114000 9500 285 9785 236 236 83.8 147.35 150

Software Development CRM Software App Maintenance (from November) Website Maintenance MacBook Depreciation (30% p/a)

Marketing Budget

Cost 120 483 267 104.08

14647.04

Expenses Year Three

Cost

Salaries Business owner Business development manager Videographer Communications Assistant CRM Executive Total: Total (per month): (Pensions per month at 3%): Total (salaries and pensions per month):

Expense Software Development CRM Software App Maintenance (from November) Website Maintenance

20000 30000 20000 19000 25000 114000 9500 285 9785

Equipment (October only) Adobe Creative Cloud (for four employees p/m) Total:

MacBook Depreciation (30% p/a)

Marketing Budget

236 236

Business Costs Accountant Insurance Creative Hub Membership (Impact Hub Birmingham)

Cost 120 483 267 104.08

18966.94

83.8 147.35 150

15. THE SIZE OF THE PRIZE

Month Jan Feb Mar Apr May Jun Jul Aug Sep TOTAL:

Month Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep TOTAL:

New Premium Account Holders 15 16 17 20 19 20 16 18 21 162

New Premium Account Holders 19 16 14 18 20 19 20 16 19 15 14 20 210

YEAR ONE Premium Account Churn per Total Premium Income month (7% Account Income (£9.99 per average) (inc. Churn) customer) 15 149.85 1.05 139.86 31 309.69 1.12 299.7 48 479.52 1.19 469.53 68 679.32 1.4 669.33 87 869.13 1.33 859.14 107 1068.93 1.4 1058.94 123 1228.77 1.12 1218.78 141 1408.59 1.26 1398.6 162 1618.38 1.47 1608.39 162 7812.18 11.34 7722.27

Total Premium Account Holders

YEAR TWO Premium Total Account Churn per Premium month (7% Fee Account (£9.99 per average) Holders customer) 181 1808.19 1.33 197 1968.03 1.12 211 2107.89 0.98 229 2287.71 1.26 249 2487.51 1.4 268 2677.32 1.33 288 2877.12 1.4 304 3036.96 1.12 323 3226.77 1.33 338 3376.62 1.05 352 3516.48 0.98 372 3716.28 1.4 372 33086.88 14.7

Total Premium Account Fee (inc. Churn) 1798.2 1958.04 2097.9 2277.72 2477.52 2667.33 2867.13 3026.97 3216.78 3366.63 3506.49 3706.29 32967

Month Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep TOTAL:

New Premium Account Holders 21 16 14 19 20 17 18 16 15 17 15 22 210

YEAR THREE Premium Account Churn per month (7% Fee (£9.99 per average) customer) 393 3926.07 1.47 409 4085.91 1.12 423 4225.77 0.98 442 4415.58 1.33 462 4615.38 1.4 479 4785.21 1.19 497 4965.03 1.26 513 5124.87 1.12 528 5274.72 1.05 545 5444.55 1.19 560 5594.4 1.05 582 5814.18 1.54 582 58271.67 14.7

Total Premium Account Holders

Total Premium Account Fee (inc. Churn) 3916.08 4075.92 4215.78 4405.59 4605.39 4775.22 4955.04 5114.88 5264.73 5434.56 5584.41 5804.19 58151.79

Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep TOTAL:

Month

Jan Feb Mar Apr May Jun Jul Aug Sep TOTAL:

Month

6 7 6 7 8 10 9 10 14 77

12 7 6 9 8 8 7 8 9 6 8 12 100

Number of Businesses

4 2 2 3 3 3 2 3 3 2 3 4 34

Number of Businesses Purchasing Job Packs (1/3)

119.94 259.87 379.81 519.74 679.66 879.56 1059.47 1259.37 1539.23 6696.65

0.42 0.49 0.42 0.49 0.56 0.7 0.63 0.7 0.98 5.39

119.94 259.87 379.81 519.74 659.67 859.57 1039.48 1239.38 1519.24 6596.7

Business Total Business Account Churn per Account Income month (7% Income (£19.99 per average) (inc. Churn) customer)

1280 640 640 960 960 960 640 960 960 640 960 1280 10880

1779.11 1919.04 2038.98 2218.89 2378.81 2538.73 2678.66 2838.58 3018.49 3138.43 3298.35 3538.23 31384.3 0.84 0.49 0.42 0.63 0.56 0.56 0.49 0.56 0.63 0.42 0.56 0.84 7

1759.12 1919.04 2038.98 2198.9 2358.82 2518.74 2678.66 2818.59 2998.5 3138.43 3278.36 3518.24 31224.38

Business Total Business Job Packs Account Churn per Account avg. £320 Income month (7% Income (£19.99 per average) (inc. Churn) customer)

640 640 640 640 960 960 960 960 1600 8000

Job Packs avg. £320

YEAR TWO

2 2 2 2 3 3 3 3 5 25

Number of Businesses Purchasing Job Packs (1/3)

YEAR ONE

Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep TOTAL:

Month

11 8 7 10 9 7 8 9 7 7 9 15 107

Number of Businesses

4 3 2 3 3 2 3 3 2 2 3 5 35

1280 960 640 960 960 640 960 960 640 640 960 1600 11200

Job Packs avg. £320

YEAR THREE Number of Businesses Purchasing Job Packs 1/3

3758.12 3918.04 4057.97 4257.87 4437.78 4577.71 4737.63 4917.54 5057.47 5197.4 5377.31 5677.16 55972

0.77 0.56 0.49 0.7 0.63 0.49 0.56 0.63 0.49 0.49 0.63 1.05 7.49

3738.13 3898.05 4057.97 4237.88 4417.79 4577.71 4717.64 4897.55 5057.47 5197.4 5357.32 5657.17 55812.08

Business Total Business Account Churn per Account Income month (7% Income (£19.99 per average) (inc. Churn) customer)

IMAGE REFERENCES

SUPPORTING DOCUMENTS INTERVIEWS WITH CREATIVES.

Could you tell me a little bit about your creative interests? Whether this be as an admirer of the creative industries, or as someone who considers themselves to be creative. I am very interested in film and film-making. I do not make films myself but still enjoy learning about it. If you could learn anything more about the creative industries, or experience anything more in this industry, what would it be? I would like to learn more about how ideas are pitched to production companies, galleries etc, and also more about the production behind the creative industries. Do you currently use an online platform to share your creative work, or access the creative work of others? If so, which platforms do you use, and what are the features of the platform that you like most? Yes, I mainly use Instagram and Vimeo. What is your opinion on the level of diversity within the creative industries? ; diversity being social class, socio-economic status, ethnicity, gender etc I do not think there is enough diversity in the creative industries. There are so many creative people who cannot afford to pursue their interests due to coming from poorer backgrounds. I also feel people from different ethnic backgrounds are underrepresented in the industries. The business I am creating is called Exhibit. For consumers, the platform acts as a visual networking site, individuals can share and seek inspiration from a multitude of artistic creations across multi-media formats, attend online events and exhibits, engage with industry professionals, and seek employment and freelance opportunities. For businesses, Exhibit provides a talent pool from a myriad of creative practices and backgrounds, and opportunities to create their own business exhibitions to be featured on the Exhibit platform. These exhibitions will consist of 360 degree virtual exhibitions, live talks with brands/industry professionals, virtual e-commerce stores and promotional brand videos. In addition, businesses can feature job advertisements on the Exhibit platform and connect with individuals looking for work. Who do you think would benefit most from this business? Up and coming creatives. Do you think you would use it? Yes. Could this platform benefit from any other features? No, it sounds ideal!

1. Could you tell me a little bit about your creative interests? Whether this be as an admirer of the creative industries, or as someone who considers themselves to be creative. I don’t have any creative hobbies of my own but I’m a great admirer of the creative industries. I’m a big fan of music and film and have an interest in art and design. As somebody that works in digital marketing, I’m surrounded by creative people and creative ideas on a daily basis. 2. If you could learn anything more about the creative industries, or experience anything more in this industry, what would it be? I follow a lot of creative brands on Instagram but don’t know much about their creative processes or how they operate. I think there’s something fascinating about how ideas come together as a final product and exactly what goes into that. I’d like to be self-employed someday, possibly doing something creative, so being able to ask questions to people that have made it would be really helpful. Sometimes you just need a jumping off point. 3. Do you currently use an online platform to share your creative work, or access the creative work of others? If so, which platforms do you use, and what are the features of the platform that you like most? I don’t share any creative work, but I use Instagram and Reddit. I use Instagram to follow brands and people who’s work I find interesting. It makes it easy to discover new people to. Reddit is great because I can easily subscribe to sub-reddits and discuss topics that interest me with anybody in the world. I’ve also discovered a couple of artists and photographers this way which I now follow on Instagram. There’s also less pressure on Reddit to put on a front and be yourself, as there’s a level of anonymity to it. 4. What is your opinion on the level of diversity within the creative industries? ; diversity being social class, socio-economic status, ethnicity, gender etc I live near Birmingham where we have a growing industry and creative scene, but we’ve still got ways to go to catch up to the likes of London and Manchester. I think there’s definitely a level of exclusivity around the creative industries and I know a lot of people that have either had to move to London, or find a job doing something else because they can’t afford to do something creative.

1. Could you tell me a little bit about your creative interests? Whether this be as an admirer of the creative industries, or as someone who considers themselves to be creative. I consider myself a tech creative, I don’t have any traditional creative skills, so focus more on the conceptualisation and design. 2. If you could learn anything more about the creative industries, or experience anything more in this industry, what would it be? I would like to get more hands on with motion capture. 3. Do you currently use an online platform to share your creative work, or access the creative work of others? If so, which platforms do you use, and what are the features of the platform that you like most? I mostly use Twitter, I find that looking at hash tags such as #indiedev or #gamedev give me a nice insight into current trends in game development. 4. What is your opinion on the level of diversity within the creative industries? ; diversity being social class, socio-economic status, ethnicity, gender etc Diversity is still very low in the game industry, though there is significant improvements being made by both small and large companies. 5.

Who do you think would benefit most from this business?

It seems like there is a lot of potential for people looking for jobs as well as ways to gain more knowledge about the industry. 6.

Do you think you would use it?

I think so, it seems like a good way to keep in touch with the industry as a whole as well as individuals. 7.

Could this platform benefit from any other features?

A messaging service so people can connect to others on the site without having to exchange personal information.

THE EIGHT P’S

Purpose

The Eight Ps

People In the first year, Exhibit will start out with only five employees A visual networking platform including the business owner. was chosen to build a These employees will be with the community of creatives. Built around it's digital business from the beginning By creating a social platform, exhibitions, allowing them to have input into individuals can network and Exhibit is an online community the running of the business meet other people, share where creatives across the UK according to their area of content and ideas and become can learn, share and develop expertise. inspired by others. their personal brands. Exhibit erases the notion that creativity In terms of consumers. Exhibit The business should be as exists only in the capital and accessible as possibnle, offering opens up the creative industries will target five B2C consumer segments and a variety of SMEs the majority of serrvices for free to the entire country. and larger businesses. through funding from B2B services. Product

Exhibit operates under a business to business and business to consumer model. Functioning as a freemium service to consumers, Exhibit works with businesses to provide personalised exhibits and recruitment services for a fee, to assist in the running of the business to consumer model.

Position

Price

Packaging

Digital Exhibitions £4000 Business Account £19.99 per month Premium Customer Account £9.99 per month Job Listing Packs One - £170 Three - £320 Five - £470

Place

Polish

App, website and social platforms

Measuring success, KPIs and future projections

Branding Logo Colour Palette App-Icon

BRAND ESSENCE WHEEL