Post on 07-Nov-2014
description
Product Augmentation Group F
Company & Product Augmentation
Background and Overview
•Founded in 2003
•Based on a freemium business model
•Customer Target: Professional individuals and businesses of all types Recruiters, Executives, Businesses and Individuals
• Professional Networking • Job Search• Group and community
membership• Idea sharing• Professional status building
Targeted news
• Targeted Recruiting• Corporate Community development
• Business profile building
Consumer Corporate
Linkedin is a networking platform for all professionals that empowers users and helps them progress professionally by providing the
ability to stay connected, informed and relevant in their profession.
Value Proposition
CORE PRODUCT Online platform for professional networking
REAL PRODUCT • Credible and easy to navigate online and mobile interface
• Profile exposure and career advancement support
EXPECTED PRODUCT • Professional audience
• Flexible platform (mobile, tablet)• Statistics and tracking of your networking
• Support for expanding your network within LinkedIn• Targeted and reliable job search and professional updates
AUGMENTED PRODUCTPersonal visual resume builder
(PDF and JPEG exporting enabled)
Product Structure & Augment
CORE CONSUMER VALUE PRODUCT
The ability to establish yourself as a connected and relevant member of
your professional community
AUGMENTED PRODUCT
AUGMENTED VALUEThe ability to establish yourself more
easily through improved communication and multi-platform
usable professional profile
GOAL • Protect LinkedIn’s competitive position
• Expand product offering to promote up-selling and improved revenue
• Grow LinkedIn’s position in the Job Search market
Value Added & Goal of Augmentation
Market Overview & Trends
Recruitment trends for 2014
• Employee referral programs will become the dominant source for hiring; every employee will become a talent scout and this will be further fortified by social media tools.
• Social media platforms will open the door for passive professionals who don’t have the time to update their resumes; more firms are learning that accepting a social media profile alone (usually a LinkedIn profile) is more than adequate at least initially to begin the hiring process.
• Technology plays an ever-increasing role in the hiring process as more companies are now using an applicant tracking software – the computer simply sifts through information in the system for résumés whose contents meet the current job opening’s criteria.
Source: The Top 10 Recruiting Trends, Problems and Opportunities for 2014 8 Hot Job Hunting Trends for 2014
Market
Companies received an average of 383 applications for every opening they advertised in 2013
Employers are becoming pickier due to similar qualifications
Job searches are taking a longer time over a year in certain cases
Even though creative resumes that have recently emerged grab recruiter’s attention, employers are still looking for hard skills which can be better articulated in classic formats and can be easily uploaded
“Bells and whistles do get attention, but ultimately what I'm looking for is strong content, clearly articulated accomplishments and a unique value proposition.” Recruitment expert
Source: Creative Resumes, Gimmick or Great Idea?
Market
Creative resumes are gaining popularity but classic formats are still under demand by recruiters
Unemployment Data
Spanish unemployment duration exceeded 2 years in 2013
While other parts of the world saw a decrease in the unemployment rate in 2013, the Eurozone saw an increase
Unemployment data indicates a continuous need to clearly communicate strengths to employers
Job Seekers Situation
According to the latest report by the Bureau
of Labor Statistics, job openings in the US
decreased by 43,000 in December 2013
There were enough job openings for only
38.5% of the job seekers
Source: Bureau of Labor Statistics
In the same month, the job opening rate was 2.8% while the unemployment rate
was 6.8%
• Social networks like Linkedin present referral opportunities that help increase the chances of landing a job opportunity
• According to career coach Julie Jansen, 85% of hiring managers use social networking sites like LinkedIn to look for potential candidates who’ve been referred by other professionals
• Linkedin provides job seekers with a free resource to build personal branding opportunity which is essential in today’s competitive environment
Linkedin as an essential employment tool
“In today’s competitive job market, you need to think of yourself as a brand. No one gets excited about commodities.” William Aruda – founder of personal branding company Reach Branding Club
Competitors
Vizify
Visualizing. Realizing. Clarifying.
• Founded in 2011
• Freemium business model
• Targets business professionals
• Features
• Resume + biography presented through animated slides
• Powered by social media feeds, i.e. automatic updates
• Personal site analytics such as page views
• Personal domain name + email forwarding
• Customizable content
Vizify
ResumUp
Go visual. Get visible.
• Founded in 2011
• 100% free for users
• Targets business professionals + recruiters
• Features
• One-click resume infographic
• Career road map
• Career preferences (e.g. travel, salary, relocation, etc.)
• Free comparison to candidates looking for same career profile
• Leverages information from other social media platforms automatically
ResumUp
Linkedin’s Advantges
•Promoting New Resume Builder through Slogan•Promote Premium Membership for to upgrade resume builder into the full version (customizable)•Provide Help and FAQ support (clickable Link)•Profile Picture •Address and Phone/Mail Details•LinkedIn Resume link for export on third party sites (only for premium members)
•Option of Implementing a personalized Video (premium members only)
•Personal Endorsements
•Professional experience, Education and Background description
•Personal Skill endorsements from the LinkedIn Network
•Pie chart illustrating overall time (until present and in %) of Work experience, Apprenticeships, Studies, Unemployment/Job Seeking, Technical and further education
•Several Pie chart illustrating skill level of different software and job related skills in general
Linkedin’s Advantages
• Visual appeal in a classic format
• Allows for display of professional endorsements
• Shareable within the LinkedIn platform
• Convenient – minimal effort required
• Exposure to more job openings
Implementation
Implementation
IntegrationAwareness Education
Implementation
Awareness
• Notifications and announcements on homepage
• Advertisements on competitors’ websites• Google ads• Social Networks
• Customers will have a free trial in order to have a feel of their resume
Education
• Available tutorial about software
• How to use• What to include• Sample formats• “Magic words”
Integration
• Alliances/partnerships with companies/universities to encourage students and employees to use software
• They will have a limited amount to download (3) before purchasing the augmented value