Free «Photo and Video Editing Website Business Plan» UK Essay Paper
Table of Contents
Introduction and Background
The mission of the business is to satisfy all photographers’ wants and to gain their approval. Necessity to edit the footage will be the customers’ need and the main goal of the editors’ team. The vision of the planned measure are the website services that will allow all interested people see how attractive photos and videos are after the team performance. Concepts of the satisfaction of any needs of the customers in edition of these materials will direct all ongoing and strategic plans and processes, because it is the main tool of the firm reputation and the source of revenue.
The special website will be dedicated to the editing of the customers’ photos and videos in a professional way. The team of the editors will be broadening in the following ways: referral by a trusted source and search of people who are interested in the job. They will work for a percentage per edit. All editors will have a profile that shows how many edits they have done so far, customers satisfaction, and it will also be possible to rate them after the job is complete. In this way no one will be able to manipulate the ratings of the editors. Furthermore, it will show specifically what type of editing this specialist offers: landscape, portrait, micro photo, short film, musical video clip, or long movie. The website will enable to show his/her own edits if the customer who accepted the order agrees.
Editors will have distinguishing levels starting by level 1 and maximum level of 100 which they will get while editing. The score depends on the quality and taken time. If an editor gains a Quest Point with 100 quest points, he/she will be promoted to the next level. Editors will gain 1 App Point per picture and 5 points per video. After each job they complete, these points will be calculated as 1 USD each / 3.76 AED. Moreover, these employees will have an opportunity to use it as a monthly subscription or for purchase of an app that they can edit with.
Products, Services and E-Business Model
The company will sell editing services via the website. Our service is to edit photos and videos for our customers. Customers will gain Loyalty Points after 10th order of photo or 4th order of video editing, and these Points can be used for discounts. The editing website will provide flexible and optimal system of the customers’ retention and solicitation.
The model of e-business is a business to customer. The editing website is the tool of communication between the customers and editors and of sales of editing services. The model will introduce the commercial transactions that will be performed via the Internet. As the business depends on the website, it will be qualitatively designed in order to satisfy the needs of the customers and to ease their search throughout the website. Services located on the website will be supplied in real life; therefore, the offers will be timely reviewed. Easy navigation and intuitive search will facilitate the customers’ choice.
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The revenue model of the business will be the framework for the editing website. The revenue source is fee for editing of photos or videos. The offered value is the photo and video edited according to the wishes of the customers. The value will be priced according to the complexity of the job, necessary time framework, and applied efforts. Regarding photos we earn money per photo editing depending on the complexity of the work. As for the videos we edit and earn it according to the video length, effects required, color correction and grading. Using fees we basically sell our services to people who need it. The less time we are provided to complete the job the more costly it is. Workers will work on the commission basis. Thereby, the more people request the same editor, the more his commission’s rate increases. The more people he refers to serve through the website, the more his name will be referred to the costumers as a first choice editor. Compensation of each employee will depend on personal contribution and fair distribution of workload. Orders of the customers will be allocated among free performers or according to the individual wishes of the customers. The equal opportunities to earn will be ensured to all employees.
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Competition will not be as strong at the beginning of the work of our website, until other businesses will start using our same idea or a bit more developed. At the starting point, among the competitors are auto editing websites that edit photos, but with a low quality such as Smartphotoeditor, BeFunky, or phone applications, such as Snapseed, etc.
There are challenges that the business of editing website faces, like user-friendly, well equipped and flashy websites of the competitors. Current competition include the services of online photo editing with the set of partly free simple editing tools (iPiccy, Ribbet), with collage master (BeFunky, PicMonkey), and additional professional editing software for detailed and high-level editing (FotoFlexer). The market of online offers of photo editing is saturated with the simplest tools for photo editing by the customers. This toolset may be provided through different paid and free services of various websites, but a professional photo processing is available on a fee basis. Its introduction to the structure and operation of the website and the online provision of professional toolset requires the application of significant financial, technical, and human resources.
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In order to maintain high level of its own competitiveness, the firm’s website will contain a minimum of self-editing tools. The option to save the work independently done by a customer of simplest edits will be free for the application or paid for application with more professional tools. This decision will ensure the interest of consumers in follow-up services.
Video editors market is less saturated due to the larger number of applied editing tools and its complexity. Free online video applications are used by WeVideo, Wix, Loopster, etc. Other video editors include Wondershare Filmora, YouTube Editor, Pow Toon, etc. They provide online services for video editing. These groups of businesses are the most threatening competitors.
The target audience of the editing website includes professional photographers, short filmmakers from all around the world. These consumers already have experience in exploitation of video and photo materials. Therefore, they form a continuous demand and professional interest in qualitative editorial services. The primary users dealing with photos and videos distinguish online applications and high-quality editing services personally carried out by the specialists with the appropriate software. It is well-known that these specialists are in demand for many social and public events. Footage editing takes a lot of time, and the volume of these orders is also large. Therefore, it is expected that these outlined primary consumers will use the services of the editors and establish permanent long-term relationship.
Secondary target group are people who like taking photos/videos but they do not have the ability to edit them in a professional way. This group of consumers is the most numerous. The orders from these people differ from the wishes of the primary group of customers by quality of performance, smaller complexity level and the amount of used tools. Therefore, pricing for this market sector is simplistic. They are ordinary people, who will use the services of the editing website in consumer grade manner. These customers are amateurs and potential professionals. Therefore, the firm should attend these people as potential transients to the primary target group.
The analysis of the strengths, weaknesses, opportunities, and threats will facilitate the common and outside consideration of the firm’s place within the market of photo and video editing, including the IT service (see table 1).
The SWOT analysis of the editing website
Qualitative toolset of photo and video editing
Innovative spirit and culture of the team
Fair and equal attitude
Flexible structure of the firm and its size advantage
Clear demonstration of service offers
Preference of online interaction with the customers
Open access to the reputation rating of the employees that could be fragile to intentional threats
Demonstration of the editors’ rating of may discourage the less productive employees
Weak research and development activity
New market of video editing
Wide business communication with primary target consumers
Rapid innovations in related technologies and tangibles
Developing online market of video editing
Market expansion at international level
High competition in photo editing market
Appearance of free online editing service
Application of the substitute programs by the customers
Growth of the price on technological support (specific professional software and hardware)
According to the results of SWOT analysis, the firm will develop strong positions in photo editing market and use external opportunities to promote video editing services (Hay and Castilla). The findings should be delivered to both managers and editors of the business as immediate performers of strategic and operational goals. Appearance of free online services of its competitors and expensive technological support of the business should be covered by the search of new market shares and expansion of primary target customers.
The firm engaged in conducting of editing website plans to promote its service and market offers through the social media and advertisement through the editors and customers. Application to each group of stakeholders will be beneficial, because the firm may motivate them through the fees and discounts respectively.
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Promotion of the editing service through the social media allows managing the brand reputation, solicitation of new customers, and communication of regular and loyal customers. In order to increase the qualitative links to the website, the team should improve the web optimization. Promotional campaign throughout the social media will start from the brand introduction and the definition of the target audience. Next, the development and implementation of long-term and short-term strategies will follow the brand promotion.
The team plans to be promoted through the participation and support of Deviantart as the social community sharing and creating art piecework online. These movements will be an external opportunity for the firm to promote its own service among both primary and secondary target groups of consumers. Attraction of Pinterest consists of its social character, online access, connection with wide social groups of potential primary and secondary target consumers, opportunity to demonstrate demo version of the editing service, and high rate of sharing throughout the Internet space. As the promotional tools, Instagram, Facebook, and Twitter are interested by their popularity among the wide audience of both primary and secondary target groups of consumers. Moreover, their functional opportunities allow determining the number and frequency of interested entries to the page of the firm in the social networks.
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Promotion in social networks contributes to the increase of trust and, ultimately, leads to an increase in sales (or other benefits, pursued by an advertising campaign). This type of promotion allows the firm to integrate the website and user accounts with social areas, to participate in social networking applications, to set up quickly and manage advertising campaigns in social networks, to develop and implement corporate policy in the social networks, to develop the activity within the community, to engage the team in direct dialogue with customers, to build a loyal audience, to increase the level of confidence on the part of existing and potential clients, to organize feedbacks from customers, to work quickly and correctly with a negative, to receive operational reports on the results of the promotional company, etc. (Cui and Songyun).
Flickr will be used for the direct demonstration of edited works with a positive approval of the author of a photo. Team appearance in such photo and video hosting is an important advertising course for the firm at any stage of its existence. As Flickr stores posted digital information, it allows the firm to prolong its content in this network in order to solicit new customers in long term. Flickr allows managing the placement of photos and videos in the hosting environment and maintaining a link or tag to the editing website. Thus, the promotion of the website is provided directly by the work of the editorial team. Users of Flickr can form interest groups with the ability to conduct thematic discussions. These circumstances give an opportunity for the firm to participate in the thematic discussions.
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Exploitation of Google+ will be increase traffic to the website of the team of photo and video editors. It has more advantages over social networks, especially because it increases the position in the search results of Google. The team will use it in their SEO-strategy. The aim of such a move will not be the increase of the subscribers' number only, but the increase of brand awareness in the search engine. In order to meet this aim, the firm will work under the improvement of the website content, add a Google+ button to the page to facilitate its detection by the search engine of Google, and regularly optimize the website content in order to get higher positions in the search results (Patel and Kamlesh).
Applications to advertise the services of the editing website will be an alternative way to gain popularity within social media. Motivation of other people to post advertisement of the website and tag it will be accompanied with giving discounts to these people. Additional discounts will be provided for those existing and potential customers who will follow the team on social media pages.
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YouTube channel will be used to show the ongoing and ultimate work performance. Designed videos about the team and the results of their work will help reach more active promotion activities. Creation of the advertisement video and its promotion within YouTube environment will improve its review by potential and existing audience of the channel and the firm's customers. Although YouTube provides wide functional opportunities, it is also a competitor for some firms. Thus, the own channel on YouTube will increase the relevance of the services of the firm and reduce the threat posed by this host.
Implementation of the business plan for the creation of the special website for the team of photo and video editors will follow the next subsequent steps:
- Development of the mission, strategy, and objectives of the project.
- Search and evaluation of real possibilities for the creation of the website. Site development.
- Attraction and recruitment of the specialists in editing of photos and videos.
- Opening of a bank account for financial transactions with consumers and allocation of financial resources between the business participants.
- Determination of pricing and conditions of sale products. Formation of the schedule of the sales and volume according to the type of service.
- Determination of trends in sales volume (changes associated with the growth of market share, market or seasonal fluctuations).
- Description of the price, changes in the price, and payment terms.
- Plan of revenue from product sales.
- Determination of the processes of creating services. Bringing a list of involved human resources and additional costs.
- Accommodation of services and price list in the website.
- Search of an office and localization of a business headquarter.
- Search and purchase of necessary equipment and software for high-quality processing operations of photos and videos if necessary.
- Website promotion through the usage of promotional tools.
- Equipping the office with necessary tangibles and conclusion of agreements with employees who will work in the office or at home. Discussion of other organizational matters.
- Creation of a customer base.
- Creation of a promotional group and the involvement of stakeholders in this aspect in exchange of bonuses and discounts.
- Operational control over the current processes and conflict resolution.
Some items of the operational plan of the website creation may vary depending on the found opportunities of developers and business managers.
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Financial plan of the project includes the necessary costs for the ongoing process of the website creation and organization of its uninterrupted operation. The common list of necessary tangibles includes the following items:
- Storage 4000 AED per 12 TB we will need 36 TB, which will cost 12000 AED
- Computer Mac Pro, which will cost 16000 AED
- Photoshop Application 138.5 AED per month
- Davinci Resolve Application 3760 AED
- Final Cut Pro X Application 3760 AED
It will not require a shop or a place to work, as every editor will have access to the files from his/her house as long as he/she has Internet connection. Therefore, verification of the proper Internet connection and regular online appearance will be among other criteria of recruitment. The office will provide the opportunity for the employees to work there.
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