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iLearn Business Intelligence

CX Measurement and Evaluation through Video mystery shopping

UAE
Market: Services
Stage of the project: Operating business

Date of last change: 05.04.2019
Min investment
$  500.000
Total required
$ 2.000.000
Rating
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Idea

We do a full business analysis for different industries by studying their entire customer's journey and experience through video mystery shopping. The visit is then score and evaluated by a panel of 3 in-house experts coming from different industries according to the industry best practice, SOPs and SLAs of the client. Through our result, we report back to the client with quantitative and qualitative analysis and recommendations on how to improve their processes and standards in accordance with their corporate strategy.

Current Status

Our business was able to sign Majid Al Futtaim has been 5 years ago and AWRostamani 7 years ago.

Market

We are currently focused in the middle east market. UAE has been a hub for many businesses for many years. With that being said, the customer service standards in the country and the maturity of frontline staff in terms of educating their customers and providing remarkable customer service is still far from the current customer service from mature markets in the western region.

Problem or Opportunity

Our main problem is the internal politics within the organization that we are trying to win. People see us as a threat to their jobs as they know that we will be uncovering issues (some) serious that the management isn't aware of. Also, when people hear the word "mystery shopping" they think that it's just a mandatory exercise that doesn't have any impact on the business. But we go beyond mystery shopping. We do a full business analysis for different industries by studying their entire customer's journey and experience through video mystery shopping. We then evaluate and score the exercise (visit) by a panel of 3 in-house experts coming from different industries according to the industry best practice, SOPs and SLAs of the client. Through our result, we report back to the client with quantitative and qualitative analysis and recommendations on how to improve their processes and standards in accordance with their corporate strategy.

Solution (product or service)

Technology-based mystery shopping, customer segmentation, customer journey design, customer experience design, training and on-the-job coaching services

Competitors

We do not have a direct competitor. We are the only one in the region who does a complex and detailed analysis of each and every business. However, more companies (especially the ones who think that there is no ROI in mystery shopping exercise and that it is just a tick-in-a-box exercise) would settle for Net promoter score or net promoter index.

Advantages or differentiators

We do a full business analysis for different industries by studying their entire customer's journey and experience through video mystery shopping. The visit is then scored and evaluated by a panel of 3 in-house experts coming from different industries according to the industry best practice, SOPs, and SLAs of the client. Through our result, we report back to the client with quantitative and qualitative analysis and recommendations on how to improve their processes and standards in accordance with their corporate strategy.

Finance

We've been with Majid Al Futtaim now starting our 6th year and we're in the final stages of some new very large, very exciting projects and the business is growing at a good pace. We have a handful of opportunities in front of us at the moment with MAF and outside MAF, and the reason we are seeking funding/investment. We estimate the value of these projects alone is somewhere between AED 8 million to AED 10 million.

Business model

Our business model is one price all inclusive per visit per asset rate.
Pre-project full customization of the attributes/criteria against corporate SOPs, KPIs, compliance, and SLAs plus our own recommended industry best practices.
Project launch.
Quarterly face to face presentations back to the business with insights recommendations, and analysis qualitative and quantitative
deliverables are every single visit video and audio plus a highlights compilation video, dashboard with qualitative and quantitative analysis

Money will be spent on

The money will be spent on hiring, training staff and funding the current projects that we have and the projects that we are bidding for.

Offer for investor

We are looking for AED 2.5M for 15% equity or 25% of the value of the project with a 15% return on investment

Team or Management

Risks

Our biggest challenge is the internal politics inside the client's organization. But if the program is handled in the correct manner as a positive reinforcement for staff and not a political stick to beat people over the head with then the program is received by everyone in the organization as something useful, easy and true.

Incubation/Acceleration programs accomplishment

Not Applicable

Won the competition and other awards

Service Olympian Award for best customer experience measurement tool 2015 - in partnership with Majid Al Futtaim
Dubai Quality Awards for best customer experience through TBMS mystery shopping 2014 - 2016 - in partnership with AWRostamani
The Middle East & North Africa Shopping center awards 2016 - best customer service through the use of TBMS mystery shopping - in partnership with Majid Al Futtaim
Gulf Customer Experience awards 2018 - Runner-up for best customer experience measurement tool

Product Video

Website address

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address