Unlocking Potential: Escape with Cirque du Soleil Strategy Presentation
Ignite your imagination, awaken your senses, and stir your emotions with the captivating proposal "Escape with Cirque du Soleil". Delve into the strategic insights presented to Mr. Daniel Lamarre and the management team by Nanyang Consulting Company, focusing on leveraging technology, diversifying products, and tapping into untapped markets to enhance the brand's reach and impact.
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Presentation Transcript
ESCAPE WITH CIRQUE DU SOLEIL Invoke the Imagination, Provoke the Senses, and Evoke the Emotions Presented to Mr. Daniel Lamarre and Management Team Presented by Nanyang Consulting Company (Aastha, Bea, Eun-Bin, Sylvia) 1 January 2022
TABLE OF CONTENTS 1. Executive Summary 2. Problem Overview Problem Statement Internal Analysis 2. Alternative Analysis 3. Recommendation Overview Execution Plan Financial Analysis Risk & Mitigation Plan Timeline 4. Conclusion 5. Appendix 2
Family Hobby Job Pandemic House Escape CDSEG is the escape from reality through inspiring creativity for generations 4
HOW TO ESCAPE WITH CIRQUE DU SOLEIL Create a brand with multiple monetization streams Leverage technologies targeted at Gen Y & Z Diversify products beyond live 5
DEMOGRAPHICS AND MARKETS Markets Demographics Focus: female, mid-40s Focus: North America, South America, Europe Potential areas: younger generations Potential areas: Asia CDSEG has untapped potential with its current product offering 7
CUSTOMER PATHWAY Wanting to escape routine/ doing something different Go back to normal routine Searching for options Decision based on considerations: monetary, time Categorizing experience Going to event/ movies/ etc. Buying tickets/ books/ etc. Increase touch points along the customer pathway to increase stickiness and monetization 8
ALTERNATIVES: STRENGTHENING EXISITING BRANDS (1/2) Favorability: High Medium Low Customer Journey Group Synergies Sponsorship Opportunity Revenue Impact Category Alternatives Feasibility Cost Time Priority - Content - Channel Streaming documentaries telling stories behind the show Co-creation/ Localized show creation in different markets (e.g., Asia countries) - Content - Market - Channel - Demographic Family bundle tickets/ gift cards as part of corporate welfare Before the Show (from awareness to purchase) - Product Increase VR show offerings - Channel - Demographic Targeted social media marketing (e.g., art ambassadors on TikTok) - Content - Channel - Demographic Collaborate with e-sports/ games (e.g., animal crossing) to embed elements and go virally - Content - Market Crosswalk pop-up shows CDSEG should focus on localized content and gamification to expand its existing market 10
ALTERNATIVES: STRENGTHENING EXISITING BRANDS (2/2) Favorability: High Medium Low Customer Journey Group Synergies Sponsorship Opportunity Revenue Impact Category Alternatives Feasibility Cost Time Priority - Product - Demographic Live interaction using APPs (lights) / VR devices During the Show - Product - Demographic Collaboration with artists Instagram-able moments (stage rotation, filters, angles) - Channel - Product - Platform Increase merchandizing offerings (crossovers, NFT) After the Show - Channel - Demographic Social media topics/ hashtag to improve audience retention CDSEG should create more emotional bonding with its customers esp. young generations 11
ALTERNATIVES: ENTERING NEW SEGMENTS Favorability: High Medium Low Financial Impact Customer Engagement Sponsorship Opportunity Alternatives Options Feasibility Time Cost Priority Collaborating with hotels, parks, and cruise Interior Design Hosting themed-events (ex. wedding) Providing interior design consulting and products Providing various art classes for all age groups (4 year and above) Education/Digital experience Holding art exhibitions at iconic museums (ex. MoMA) Providing logistics services during vacancy period Logistics CDSEG can capitalize its existing brands and enter new segments for revenue 12
BEFORE THE SHOW: PROVOKE THE SENSES Collaborating with e-sports/ games (e.g., animal crossing) to embed elements and go virally Attract younger generations (Gen Y & Z) to convert brand awareness to brand interests Leverage the customer base and interaction forms of e-sports/ games to go virally Timeline: execution in H1-2023 Expected Results Attract and convert more potential customers, especially family customers and younger generation over the world Expand ticket-selling revenue Co-creating / Localizing shows in different markets (e.g., Asia countries) Consider culture fitness and blending to attract and acquire consumers from different market Cooperate with local artists to create localized content Focus markets with quick recovery and eased restrictions post-COVID Timeline: execution in H1-2024 CDSEG should expand its ticket-selling revenue by growing customers in different markets 14
DURING THE SHOW: EVOKE THE EMOTIONS Providing an Instagram-able moments Current Status: no photography or video recording allowed Suggestion: improving the curtain call phase by officially allowing audience to capture memorable moments Target Group: Gen Z Strategy: increasing the duration of curtain calls with adjusted lightings and audio system Timeline: effective immediately Expected Results Audience, especially those in Gen Z, share photos or videos from shows on the social media creating noise and word-of-mouth marketing effects CDSEG can respect the new trend of social media and capitalize on them 15
AFTER THE SHOW: INVOKE THE IMAGINATION Sophisticating merchandizing sales through NFT Current Status: only tangible merchandizing products on sale Suggestion: extending intangible merchandizing products via NFT marketplace to increase the revenue Target: Gen Y Strategy: adding more valuation of the creative shows by selling clips or photos of specific movements on NFT market Timeline: H2-2022 Expected Results Audience will enjoy the high- end products, which are uniquely and exclusively offered on the NFT market, which will generate additional revenues NFT marketplace will be a new revenue streamline for CDSEG 16
OVERVIEW OF IMPLEMENTATION PLAN FOR EXISITING BRANDS Before the Show During the Show After the Show Partnership with e-sports/ games to embed the brand (gamification development) Key Activities Extend intangible merchandizing products via NFT marketplace Improve curtain call phase to add Instagram-able moments Partnership with local artists for localized content Ideation competition around the world to co-create art content CDSEG is expected to reboot its main brand through going digitally and embracing young Gen 17
DIVERSIFICATION: INTERIOR DESIGN Short-Term (1-2 years) Mid to long term (3-5 years) Extending CDSEG Theme At-Home Escape On-Demand Leveraging expertise in venue design Leveraging existing design and performance talent Extending the CDSEG experience beyond stage Key Activities Consulting for re-designing homes and office spaces Hosting themed events such as for high value clients Birthday parties Weddings Office parties Partnerships with hotels, theme parks and cruise liners Manufacture products such wallpapers, furniture to bring CDSEG experience to door- step Added opportunity for sponsorships by increasing eyeballs 18 Leverage existing expertise to provide your customers an escape from reality beyond live performance
OVERVIEW REVENUE SOURCES Game embedded elements Sponsorships Merchandise NFTs Interior Design Revenue Ticket sales Additional revenue sources to not depend on live and create additional customer touchpoints 19
FINANCIAL INDICATORS Improved Customer Journey Stronger Sponsorship Social Media Engagement CAGR 15% (2022-2031) CDSEG can leverage on existing brands as well as new segment to achieve $2.5 billion revenue 20
TIMELINE & KEY MILESTONES Recommendation Major Activities 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Before the show: Collaborating with e- sports/ games During the show: Co-creating / localizing shows Strenghtening existing brands During the show: providing an Instagrammable moments After the show: Sophisticating merchandizing sale through NFT Offering at-home escape service Entering new segment Offering on-demand service Extending CDSEG themed venues Keep tracking financial and operational results on checkpoints in the following ten years 21
RISK & MITIGATION PLAN No. Risk Mitigation In-depth market research and consumer preference understanding before investing in content creation More cooperation with local artists and communities to test the market Potential failure in localized content creation and geographical market expansion 1 Enter NFT marketplace to amplify exclusivity and attract young generations Expand product offerings and explore crossover opportunities Lack of attractiveness in merchandizing selling 2 Utilize its expertise in venue design by providing internal talents more career development opportunities Targeted advertisement based on brand building and digital ads platforms Internal capability building and external customer acquisition problems for interior design business 3 Extend new business by rolling out pilots and tracking KPIs continuously Heavy investment on CDSEG theme business 4 Mitigate multiple risks on monetization of existing brand and new business extension 22
CONCLUSION 23
LETS ENABLE EVERYONE TO ESCAPE WITH CIRQUE DU SOLEIL Create a brand with multiple monetization streams Leverage technologies targeted at Gen Y & Z Diversify products beyond live 24
