Periodic Reporting for period 1 - Nubart7 (From museums to everywhere: Nubart's highly innovative audio guides are looking for new verticals)
Reporting period: 2019-02-01 to 2019-07-31
Nubart is an innovative concept for audio guides: we don't use devices nor native apps. Nubart is a card that the user can keep as a souvenir, with non-transferable unique codes that give access to the digital content from the own smartphone (BYOD). With Nubart, museums don't have to deal with the costly maintenance of traditional devices. Naturally, museum's and other monuments have been Nubart's main target so far, but the acquisition-curve of such clients is extremely slow. This was the problem we wanted to address.
Since Nubart can be used without any devices that have to be picked up at the end of the tour, we realized that its potential field of use goes far beyond museums: outdoors spaces, private companies, shops.... The plan of our SME-Instrument was to explore which other verticals are suitable for our innovative audio guides, so that we can focus our sales and marketing efforts on it.
By adding companies with a higher and faster purchase power to our list of clients, our company would be in a position to devote all the time necessary to win museums and other public sites as customers. At the same time, by extending the scope of the audioguides to other verticals that could not afford them until now, we would have a much wider field to develop our educational work.
Since Nubart can be used without any devices that have to be picked up at the end of the tour, we realized that its potential field of use goes far beyond museums: outdoors spaces, private companies, shops.... The plan of our SME-Instrument was to explore which other verticals are suitable for our innovative audio guides, so that we can focus our sales and marketing efforts on it.
By adding companies with a higher and faster purchase power to our list of clients, our company would be in a position to devote all the time necessary to win museums and other public sites as customers. At the same time, by extending the scope of the audioguides to other verticals that could not afford them until now, we would have a much wider field to develop our educational work.
Our aim was to gain knowledge about new market verticals that are suitable to extend our innovative audio guides outside the museum sector and to establish their technological requirements.
We started with a very broad list of potential verticals. During the six months of the project, the goal was to take all the necessary steps to get a viability-based short-list. Lead prospecting, personal meetings and pilot projects were done on several verticals.
We started with a very broad list of potential verticals. During the six months of the project, the goal was to take all the necessary steps to get a viability-based short-list. Lead prospecting, personal meetings and pilot projects were done on several verticals.
From the several potential verticals we had originally in mind when writing our application, only the vertical of tradeshows and professional events seems to be promising enough on a long term, although at the cost of a technical effort and further development from our side. But the grant provided by the SME Instrument allowed our team to take the time to brainstorm and to come out with several other product lines that were initially not considered, and to move forward with them until having a short list of verticals that deserves the company focus from now on. As a result of the project, we reached the conclusion that the most viable vertical for our Nubart-technology are trade-shows. The resulting insights were so promising that we are currently planning the establishment of a spin-off to develop this new line of business. We expect that this spin-off will generate between 3 and 6 employments during the first three years since its implementation.