Bounce Fitness Company has now accepted that increasing their cash flow is important for sustained growth and to support a wider strategic goal of global market penetration. To this end they are looking to move further on their customer engagement strategy by exploring the potential revenue opportunities within their digital space (website and Facebook).  As you have already explored social media, including paid, owned, and earned media as well as the user experience project around improving the usability of their digital assets. You have also highlighted a potential new eBusiness product ‘Micro-Loans”; the Board of Directors feels you are best placed to offer advice in this matter.
You have been asked to research the opportunities to turn their online presence into a revenue stream generating $1 million in profit in the first year. You are also instructed to act on behalf of Bounce Fitness Company to explore merchant accounts and payment facilities with financial institutions to support the digital strategy.
The project will include:

1. Research and develop a digital proposal; and
2. Negotiate a Merchant Account and Payment Gateway with a financial institution.

The Board of Directors have forecasted the following Key Performance Indicators (KPIs) for the digital strategy:
Average $ sale per microloan: $1000
Gross Profit Margin: 15%
Conversion Rate:  0.12%
In addition to the relevant organisational policies and procedures contained on the Bounce Fitness simulated website, Case Study Organisation resources folder in Canvas and the background information about this topic you have learned throughout your term, there are a range of other documents and templates found in the Appendix section of this document to assist you complete the tasks.

Part A - Digital strategy review plan

For this task, Bounce Fitness company has asked you to design a way forward on setting up a payment facility for their products page on their website. Bounce Fitness requires you to conduct some research and provide them a digital strategy proposal they can review at the next Board meeting. You will be required to present your research findings using the Appendix A Digital Strategy Review Template.

You will find it useful to refer to the learning and activities in this module as they have sufficiently prepared you for this assessment task. You will also need to conduct some more research for certain areas of this proposal. 

Important Note: To assist you, we have outlined each section of your digital strategy plan and the information you must include in each below. You should also include a title page, table of contents, introduction, and references in your plan.

1	Channel Analysis (100 words)

By way of introduction to your proposal, prepare a convincing argument that outlines the opportunities for monetisation of the digital channel for Micro-Loans for Bounce Fitness. 

Access Bounce Fitness various policies, procedures and review the course materials to determine which three of the following reasons are the most compelling (and why).

Create new revenue streams for Bounce Fitness and therefore improve Cash flow

Increased reach for a fitness business – taking advantage of global connectivity by reaching customers located outside Bounce Fitness geographic target

Offer new solutions to customer needs

Increase ROI on the Digital Channel

Increase customer engagement

Sell more products and services

 

1.1	Channel Strategy – The Monetization for Bounce Fitness (50 words)

Articulate the existing and proposed addition to Bounce Fitness channel strategy. Identify at least one potential digital channel from the list below and give reasons for the consideration. You may want to consider devices in your answer.

Company website

Facebook

Instagram

eBay

Fishpond

Other social sites or intermediaries (you must research and provide information) 

Devices (e.g., mobile, tablet, smartwatches, PDAs, etc.)

1.2	Digital Marketing Considerations (100 words)

What Digital Marketing considerations exist? Include an assessment of paid, owned and earned engagement opportunities for the new micro-loans business idea and ideally the role each of these including the opportunity you identify to enhance the monetization of the digital channel for Bounce Fitness Company.

1.3	Bounce Fitness Digital Ecosystem (100 words)

Consider the elements of a Digital Ecosystem from the course materials and prepare a discussion around Bounce Fitness Group’s Digital Ecosystem. Consider in your answer:

• How the monetization of the Digital Channel may impact Digital Content, Customer Contact Management, Social Media, and Digital Marketing.
• The date and time when the digital strategy review plan was shared with stakeholders.

 The date when the plan was approved.

Answer rating: 100% (QA)

Introduction Four workout facilities make up Bounce Fitness The present headquarters are located in Cairns Queensland Brisbane Queensland Sydney New South Wales and Melbourne are the other hubs Victor... View the full answer