Concept validation,
business and financial model
Validate the impact of an immersive experience on the business objectives of an American museum
Client profile
LOCATION
United States
CLIENT
Museum
TARGET MARKETS
United States (Atlanta and surrounding areas)
LOCATION
United States
CLIENT
Museum
TARGET MARKETS
United States (Atlanta and surrounding areas)
Challenge
A U.S. museum needed to validate the market potential for an immersive outdoor nightlife experience for residents of Atlanta and its surrounding areas. Furthermore, they wanted to identify the optimal positioning (aspiration, value proposition, business model, etc.) to ensure the success of the concept, in addition to enhancing the experience for their current visitors, attracting new visitors and diversifying their revenue streams, while managing the risk of cannibalization of current revenues.
Mandate
Concept validation and evaluation of the commercial impact of a new offer on attendance and revenues.
Solutions
— Market analysis on comparable nighttime experiences in the United States to understand the size of the potential market.
— Marketing research to evaluate the concept among target customers (interest in the concept, intention to visit, impact on the museum’s image, potential ticketing structure, etc.)
— Definition of the optimal positioning of the concept including the suggested target customers, value proposition, and ticket price.
— Development of the financial model and an operations model.
Results
— The findings of the project determined that the immersive nighttime experience would positively contribute to the profitability and the image of the museum.
— We identified the key success factors and elements to avoid for the creation and production of the new experience were identified.
— We also made recommendation on the marketing mix (price and combination with the museum offer, sales channels, etc.)
— Based on these results, the museum was able to get the investment they needed to move forward with the project.
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