MEMO:
Revenue Stream, Mr. Doyle,
Growin’ Home, CEO
Dear Mr. Doyle:
The horticulture sector of our business has an opportunity to forefront social media as a
major revenue stream. Social media is becoming prevalent in all areas of marketing and
advertisements. If we take advantage of the exposure it has to offer, we can develop clear
streamline revenue in our most profitable areas through application development and social
media. iGarden is an application we will develop to offer consumers information about
gardening, soil, and other relevant information needed to help make their dream gardens. With
the proper advertising and product placement, iGarden will be exposed to over 50 million app
users instantly.
iGarden will enhance our consumers’ knowledge about gardening while strengthening
our consumer bond. For instance, if the consumer typed in his favorite flower, such as a
hydrangea, he would be prompted with information ranging from the best areas of the garden to
grow it to what flowers compliment hydrangeas which maximize the aesthetic appearance. Once
the application is developed and properly tested, it will be launched in the App Store- a
subdivision of Apple. Research shows that the App Store is the greatest place to maximize
exposure to consumers not only loyal to our brand but also unknown to it. The iGarden app will
give us the opportunity to grow as a company, expanding the number of consumers by reaching
outside of our normal demographics.
To implement iGarden, we will need app development software as well as an independent
application developer. The costs to create iGarden and install the correct data will cost around
$40,000. Revenues will come from our advertisements that will be placed strategically
throughout the application as well as the promotion of our horticulture supplies when prompted.
So when our hydrangea consumer decides he wants to purchase lilies to compliment his garden,
he will be offered directions and product availability information to the nearest Growin' Home
store. Advertisements such as this will recoup the $40,000 cost to create the revenue stream.
Revenue will not be directly correlated to iGarden until approximately two fiscal quarters from
the implementation.