Project Title: Project Redwood

Sokolin, LLC

Details
Project Title Project Redwood
Project Topics Customer Service & Account Management Cybersecurity Data Management Employee and Labor Management Growth Strategy International Affairs Legal, Regulatory, Compliance Marketing Mergers & Acquisitions Operations Organizational Culture PR & Communications Purchasing, Logistics, Supply Chain Reporting, Financial Planning & Analysis Sales & Business Development Software Design & Development Talent Management
Skills & Expertise Communications Customer Success Market Research Qualitative Research Quantitative Research
Project Synopsis: Challenge/Opportunity
Our primary challenge is continuing to grow in a highly fragmented and competitive market, while dealing with generational shifts in customer behavior and preference.

We would like to have a clear strategy and roadmap for Customer Management and Acquisition; Digital Marketing and e-commerce; and Customer Programs and Incentives that will lead to improvement of the following Key Performance Indicators:

1. Improved customer retention
2. Increased sales to inactive customers
2. Increased sales to existing customers
3. Increase in number of new prospective customers
4. Increase in sales to new/first time customers
5. Expansion of sales within existing core markets/demographics
6. Expansion of sales into new or underserved markets/demographics
Project Synopsis: Activities/Actions Required
1. Evaluate and improve current strategies and processes for:
  *managing existing customers, 
  *re-engaging inactive customers, 
  *expanding our brand awareness and sales to new customers in current market geographies, 
  *expansion of brand awareness and sales to new customers in new or underserved markets

2. Develop a digital marketing strategy, continue enhancing and optimizing website and mobile app, focus on how to market to different demographics/generations without alienating current base

3. Develop and analyze various customer programs and incentives for cost/benefit and expected outcomes.  Review competitor offerings for ideas or be innovative.  



Project Synopsis: Expected Results
At the end of this project, we would like to have at least 3 strategic programs ready to implement to increase sales.  Each program should be documented in detail accompanied by thorough analysis, operational steps, and prospective cost and impact to sales.  

Specifically we would like to analyze customer shipping costs to determine the feasibility and cost of offering a free shipping incentive program for certain products and customers similar to what other online retailers offer.  This could be part of a club membership similar to Amazon Prime or not.

Project Timeline

Touchpoints & Assignments Date Type

Applications Closed for Students

May 03 2024 Event

Students Upload Signed "Fordham Unpaid Internship Agreement"

May 10 2024 US/Eastern (UTC-04:00) Event

Teams Finalized, Projects Assigned

May 10 2024 Event

Industry Partners to Provide Each Offer Letter to Each Student

May 17 2024 Event

Students Upload Resume

May 17 2024 Action Item

Kickoff Eval

May 24 2024 US/Eastern (UTC-04:00) Evaluation

Goal Date for CPT Approval

May 31 2024 Event

Projects Launch!

Jun 03 2024 Event

Temp Check

Jun 12 2024 Evaluation

Temp Check

Jun 28 2024 Evaluation

Temp Check

Jul 10 2024 Evaluation

Projects End

Jul 26 2024 Event

End of Project Self Reflection

Jul 26 2024, 12:00 PM Evaluation

Program Managers

Name Organization
Beatriz Picard Fordham University