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The challenge
Breathworks is a small non-profit organization providing mindfulness-based stress and pain reduction in Ghent. They approached us with the question to help them grow without losing their authenticity. Because of their focus on improving the well-being of their clients, they failed to create enough financial breathing room to grow the business.
Their questions:
- create financial stability and enough room to invest in growth
- make it possible to pay the owner a regular salary instead of minimum wage
- increase brand awareness and reach new clients
- understand the perception and needs of clients to improve services and create new offers
- gain insight into the market and competitors in order to better differentiate
Understanding the digital mindfulness market
To gain insight into the digital mindfulness market and understand differentiation possibilities, we took a deep-dive into 20 local and international competitors, and 5 companies in similar industries. An analysis of their website, offer, pricing and communication provided us with interesting insights:
- Very few mindfulness providers have a professional website
- There are new potential target audiences
- Pricing can be increased
- New possible business models and product-market combinations
- Clear differentiation possibilities
Understanding digital mindfulness clients
For this small mindfulness center, the clients have always been at the heart of their services. But knowing what clients really think, expect and need is very hard. These insights are key when creating new offerings and trying to reach new clients. Through in-depth interviews with their clients we uncovered valuable insights:
- A lot of happy customers only buy 1 course, there’s a real opportunity to increase customer lifetime value
- There’s a big barrier to start with mindfulness
- The perception of mindfulness in general needs to be changed
- Clients were not happy with the location where the sessions were held
- There is room to increase the prices
- The biggest challenge for clients is to practice mindfulness on a regular basis
Co-creating an actionable digital mindfulness growth strategy
Through a series of co-creative workshops with the internal team, we were able to create an actionable roadmap to sustainable growth, without losing the identity or authenticity of the organization. We analyzed their current business model and identified opportunity areas and potential new business models. Leveraging the market and client insights, we ideated about new product-market combinations, ways to lower the barrier of entry and how to create more brand awareness in order to reach new clients. Through a prioritization exercise, we created an actionable roadmap with low-hanging fruits and long-term goals.
The result
By immediately implementing some of the short-term goals, the organization was able to create more financial stability, focus on increasing their brand awareness, grow their client base and offering, and make their clients happier. Some of the actions they took:
- Increased prices
- A new location for sessions
- Expanded to new B2B target audiences
- A new digital solution to make mindfulness easier to start with, and practice daily
- Clearer website structure
- More professional branding
Continued collaboration
To achieve their growth ambitions, Breathworks realized they needed more support throughout their journey. Someone needed to challenge their ideas and steer them in the right direction when needed. Through a flexible coaching program we’re supporting them in achieving their goals and growing their business in an authentic and smart way.
