VCW for Benfica App 2.0: Enhancing Fan Engagement and Revenue
Leveraging an event-driven app to increase fan engagement and diversify revenue streams for Sport Lisboa e Benfica.
How can we enhance the performance of Benfica’s App 1.0 and improve fan engagement and revenue streams?
This project utilizes the Value Creation Wheel (VCW) framework to address the challenge of low fan engagement with Benfica's current mobile app. The team identified six key features to enhance the app and increase fan engagement, both locally and internationally.
Overview
The project began by analyzing Benfica's current situation, using frameworks like the 5Cs, PESTEL, Porter's Five Forces, and SWOT. The team identified the main challenge as low app engagement, leading to missed opportunities for revenue generation and fan interaction. Through brainstorming and research, they generated 54 ideas and 51 filters. The POKER method helped refine and prioritize these, leading to the selection of 17 key features. The value creation funnel and MCDA analysis further narrowed down the features to six, which were then categorized into "Fans at Home" and "Fans at the Stadium."
Key Features
Fans at Home:
Advanced live statistics
Global fan map
Fantasy quiz
Fans at the Stadium:
Food and beverage ordering
Fan token system
Send-in picture feature
Marketing Mix
The team developed a comprehensive marketing mix, including:
Product: An engaging and user-friendly app with personalized content and features for both local and international fans.
Price: Currently free, with potential for future monetization through premium features or subscriptions.
Place: Available on all major app stores worldwide, in both Portuguese and English.
Promotion: Integrated marketing communication strategy, including online and offline channels, personalized messaging, and sales promotions.
Implementation
The project will be implemented in collaboration with Deloitte Consulting, with a timeline of approximately five months to reach the Minimum Viable Product (MVP). The estimated budget is €468,000, including development and operating costs.
Key Takeaways
Fan Engagement is Crucial: Increasing fan engagement is essential for Benfica's long-term success, both on and off the field.
Mobile Apps Offer Unique Opportunities: A well-designed app can enhance the fan experience, generate revenue, and foster a stronger sense of community.
Data-Driven Approach is Key: Utilizing data analytics and fan insights is crucial for developing relevant and engaging features.
Partnerships Enhance Capabilities: Collaborating with external partners like Deloitte brings specialized expertise and resources to the project.
Continuous Improvement is Essential: Regularly updating and improving the app is necessary to maintain fan interest and stay ahead of the competition.
Conclusion
This project demonstrates how the VCW framework can be used to address a real-world challenge for a sports organization. By implementing the six identified features and a strong marketing strategy, Benfica can significantly enhance its app's performance, increase fan engagement, and diversify revenue streams.