e-Business Strategy to Implementation: Move.co.uk
The client, a leading US real estate and travel company, had successfully developed and launched a business-to-consumer property site in the US and wanted to take the model into Europe. They wanted external support to understand whether the model would be commercially viable in Europe, how the model needed to be tailored to be successful in European markets and, which European markets should be entered first. The client then wanted support to develop and launch the recommended business model in the UK, the market identified as the highest priority.
Tracey led a pan-European team of twenty people to develop an international expansion strategy for this online property business. Key activities included:
- Detailed market and competitor analysis for high priority European markets;
- Identified and profiled preferred Joint Venture and local business partners to support European roll-out;
- Identified and evaluated potential B2C and B2B business models and developed a financial model to assess the commercial viability of options;
- Assessed the capability of technical infrastructure to support a global roll-out;
- Identified legal and regulatory issues that will impact the business;
- Developed a phased roll-out plan with the UK as the first market for entry;
Tracey then managed a multi-disciplinary team (40+ people) in the detailed design, development and launch of the Business-to-Business-to-Consumer property portal in the UK. Acting in the role of Chief Operating Officer, her key activities included:
- Activities to secure property listings, including the identification and valuation of potential acquisition candidates;
- Business development activities with key strategic partners to secure content, commerce and distribution partners;
- Business planning, producing detailed revenue and cost projections to secure necessary financial resources for launch;
- Organisation building, including the development of the organisation structure, roles, job descriptions and business process design;
- Outsourcing and management of 3rd-party marketing and PR agencies to develop an innovative launch campaign;
- Overall management of the web-design, technical development and site testing.
A new UK property portal, Move.co.uk, targeted at both consumers and estate agents was launched on time and within budget with core operational team in place. Less than six months later a leading US competitor, Homestore, acquired the business, for $1bn, as an enabler to enter into the UK online property market.