Go to Market Strategy Dach Region

This document showcases the final industries for Amplifyre to target in the next 1-4 months. It lays out a brief understanding of different characteristics of each industry, its characteristics, current trends and needs. Furthermore it digs deeper into why Amplifyre should target this specific industry, when and why this industry has been identified and how Amplifyre should communicate with this specific market.

The Global Fintech market is projected to grow by nearly 20% in the next five years, with an expected valuation of $305 billion by the end of 2025. A steady and increasing growth in the market signal operational changes in many companies and thus opportunities for Amplifyre to capture. On a more practical note, there is an increasing trend of using mobile devices and technology based solutions (e.g financial and banking solutions, digital payments and virtual wallets). Further, the fintech industry struggles with data security, hacking and SMEs lack resources to build inhouse. Amplifyre holds opportunities by providing solutions, for example to ensure data privacy, offering solutions within IoT (necessary for payment transactions), blockchain (needed for securing data) and AI (to adapt and serve a customer centric approach.

There are several time-related opportunities and current conditions in the Fintech market. The current pandemic sets a very particular stage for organizations in the Fintech sector. Firstly, it influences fintech trends with AI, machine learning, and robotics ranking high on the list with a prospect of remaining highly relevant during the pandemic. Further, the opportunities are boosted by an increasing need for virtual payments during this time and reduced regulations from organizations and governments, looking to spur post-pandemic economic growth. Since the digitisation process in most SMEs is not yet at the peak of development, they still struggle to align with tech disruptors and display a lack of resources to build IT projects inhouse. At this stage, consultancy services and support in such endeavours will be more relevant than in later stages of adoption. Based on these current conditions, the Fintech market should be entered within the next 2 months (March, April).

The challenges in the Fintech industry provide for a prediction as to how long the market entry will take, depending on the complexity of the market. The Fintech industry consists of a complex web of firms, such as payment acquirers/processors, independent sales organizations (ISOs), card networks and issuing banks. Further, there is a rather high dependability among those players which creates a slight increase in complexity when entering the sector due to interdependent and interlinked structures. However, no major barriers to entry have been observed which is a good precondition for entering the industry within approximately 8 weeks. An assumption can be made that a market entry can occur rather quickly in this industry. However, for a thorough market entry, ensuring long term retention and relevance in the Fintech field, approximately 8 weeks should be dedicated to the process.

Communication with the Fintech industry will be based on the specific industry needs and further focus on dominant trends. More specifically, we are suggesting to divide the communication strategy and target three different ongoing trends. The previously conducted research and analysis implied that there is a strong trend towards customer-centricity. This creates an increasing need for personalization in order to deliver customers with more value.

Furthermore, as the eCommerce ecosystem is encountering exponential growth regarding virtual payment, a need in developing partnerships with specialists to implement such technologies remains significant for companies to proactively fill the gaps and update their trends in regards to IT solutions. Amplifyre should thus focus on emphasis on this specific trend.

Additionally, increasing demand for Blockchain technology initiates the whole industry to adjust their IT solutions ranging from data privacy protection to secure the whole payment architecture of businesses.

We have ranked the HR & Recruitment industry in the top 3 industries for Amplifyre to focus on with a point allocation of 3.3/5. This is due to the following reasons: The HR and Recruitment market size was valued at $16 billion in 2019 and is expected to exhibit a compound annual growth rate (CAGR) of 11.7% from 2020 to 2027 (Grand View Research, 2020). In general, there is a high need to reduce recruitment processes, whilst increasing the candidates journey and quality. Thus, organizations are turning to workforce analytics and planning. In these workforce analytics applications, AI and machine learning are becoming more apparent. 90% of current recruiter tasks will be automated by AI in the coming years. Advancements in IT & introduction of predictive analytics in HR processes is expected to boost the growth. Furthermore, there is an emphasis put on cloud based solutions where it is estimated that 30% of global mid-market and large enterprises will use a cloud-based suite for administrative HR tasks.

Challenges: However, The HR & Recruiting industry is seeing major players adopting various strategic initiatives, such as mergers and acquisitions, partnerships, and collaborations for technologies and new product development. This may create some hindrance for Amplifyre, yet open up for opportunities. This identified challenges is the reason behind a lower score compared to the Fintech industry.

Given the ranking which has been conducted previously based on opportunities, challenges and growth drivers in the industry, the HR & Recruiting industry has been assessed to be an attractive one to target within the next 1-4 months.

There are several time-related opportunities and current conditions in this market which provide for business opportunities for Amplifyre if an entry is carried out relatively soon. A current customer/buyer trend entails the transformation towards more cloud-based systems owing to flexibility in terms of usage, reduced maintenance charges, and elimination of installation time and costs. Further, the trend to implement new technologies is emphasized by the fact that automation through AI is a focus in the next few years (90% of recruiter tasks will be automated using AI). Therefore, entering the market soon and in a phase where the trend is still evolving and not yet in a maturing stage is an opportunity for Amplifyre to consult players before they found IT partners. The Covid-19 pandemic and its consequences make HR & Recruiting an interesting industry now in terms of remote work increasing the use of tools and technologies that help manage remote teams. As this currently provides for an urgent need for IT solutions and guidance in the process of digitizing processes, an approach towards this industry should be made in April to May.

Communication with the HR & Recruitment industry should be focused on time optimization. Optimizing the time during the recruitment processes is becoming significantly more crucial to facilitate HR workload as their aim is not only to recruit but also manage and supervise employee life cycles within companies. Additionally, communication should be steered towards an emphasis on automation of recruitment processes. This is a key component assisting HR & Recruitment managers in their daily work. Further, a significant trend across industries has been to pull up data engaging the Human resources department to adopt a data-driven solution to support their choices when recruiting the right candidates among many. Consequently, having the proper analytical tools will boost companies’ HR approach and meanwhile lead to a reduction of carrying administrative tasks.

Fashion Industry

We have ranked the Fashion Industry in the top 3 industries for Amplifyre to focus on with a point allocation of 3.3/ 5. This is due to the following reasons: The Fashion Industry is one of the biggest industries in the world with a worth of 1.5 trillion U.S. dollars in 2020, expected to grow by 2.25 trillion dollars by 2025 (Shahbandeh, 2021). Additionally, the second hand market is in constant growth and is expected to hit $64 billion by 2024. Equally important is the increasing and rapid expansion of digitalisation; the future of fashion is data-driven. The Mobile Commerce sector is forecasted to dominate the market within the next years. This is pushing SMEs to scale up development and strengthen their existing IT infrastructure. It further puts pressure on smaller businesses to follow suit with increased online presence and stronger digital solutions. If Amplifyre can play a part in supporting these firms which are currently facing this transition, it can bring great value in terms of business opportunity.

Challenges: However, the fashion industry still remains on traditional ways of doing business, resulting in lack of awareness of cutting edge technology. These challenges may stand as an obstacle for Amplifyre. This identified challenges is the reason behind a lower score compared to the Fintech & HR & Recruitment Industry.

The Fashion industry has been ranked among the top 3 industries to enter in the following 1-4 months based on the attractiveness of opportunities and growth in the market and no significant challenges posing major obstacles to entry. With an imminent entry into the market, Amplifier can benefit from a range of current opportunities and conditions in the industry of fashion.

A current trend in the fashion industry is the ever increasing focus of consumers on transparency, environmental awareness and aim to reduce their impact on the environment through purchase decisions. 50% of fast fashion retailers have reported a recent decrease in customer purchases due to these changes in consumer behaviour. This puts pressure on companies in the industry to serve customer demands in new and innovative ways and new technologies have been found to be a promising tool to do so, e.g. blockchain technology for increased levels of transparency in supply chains. Another current development making a market entry more compelling is the consequences of the Covid-19 pandemic, as Fashion & Apparel capitalization dropped by 40%. In order to stay relevant in the industry and to keep businesses afloat, companies will have to create an immersive digital shopping experience immediately with the help of IT solutions (AI, VR, AR). Based on these current conditions, the Fashion industry should be entered in May & June.

Communication towards the fashion industry should be focused on the importance of online presence, an increasing trend in Mobile-commerce and forecasting. The fashion industry analysis has shown a significant need for retailers to cope with the rapid development towards digitalization. The principal direction in this industry is the shift towards an increasing demand for customization therefore, the implementation of artificial intelligence combined with augmented reality and virtual reality will be significant for Amplifyre to communicate as it is revamping the whole industry. Moreover, modernizing business processes by leveraging technology-based forecasting and predictive tools will enable the industry players to adopt a strong customer-centric approach allowing them to have insightful information to make strategic decisions. Finally, communication could also be steered towards capturing the competitive advantage that arises when many players are trying to adopt an online presence.