AudioTrace: business plan

Mohd Sallehuddin, Izad Shahadi (2019) AudioTrace: business plan. [Dissertation (University of Nottingham only)]

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Abstract

AudioTrace is a company that facilitates the transformation of a visitor’s experience to an attraction by allowing organizations and third party authors to build customized audio tours on its platform for free. No longer would visitors need to carry a travel book around or google for information on an attraction, as it will all be made available at your fingertips through an app and its website. AudioTrace also provides the service to set up the conventional audio tours for attractions for a fee with an ultimate aim to drive traffic onto its platform.

What makes AudioTrace unique is the fact that it will have the first mover advantage in Malaysia that would see more partners willing to participate as the business model has been proven successful in other developed markets. Its open platform concept (platform that allows third party contributors to post content on its platform and allows other users to rate and comment on it), allows different audio tours to be made available for the same attraction which would be a major differentiation factor. For instance, after searching and clicking on a tourist attraction on the website or app, an official version will be clearly stated at the top of the list, while 3rd party authors audio tours will be featured according to their rank (by customer reviews) in the list below that. AudioTrace is also able to offer different audio tours for different age groups; kids and teenagers would probably require a more interesting approach to keep them engaged on an audio tour, and third party authors could fill this gap.

AudioTrace’s fully integrated on-demand platform (platform that allows users to access content as and when needed) allows users to gain access to a wide range of attractions or city tours in Malaysia. It also encourages participation from users to contribute to the platform as it is an open platform for creating audio guides. AudioTrace will be the first company in Malaysia to be providing this service to visitors in the country, and the potential is vast as most tourist attractions in Malaysia have still not embraced technology in making their sights more attractive.

AudioTrace derives its revenues from five sources which are from subscription, advertising, sponsorships, commission from paid content and consultancy fees. AudioTrace is a free to download app. However, access is only limited to 3 attractions in a week. To enjoy unlimited access to AudioTrace, users need to subscribe to it at a subscription rate of RM19.90 per week. This will allow users unlimited access to the app and will enable users to download as many audio guides into their personal library for offline use (audio guides downloaded in library will be automatically ‘checked-out’ or erased in one week). A small part of the revenue would also come from consultancy fees charged to clients who engages AudioTrace to set up the conventional audio tour at their locations.

AudioTrace plans to roll out its platform and on-board as many partners as possible before and immediately after being launched, and it plans to expand to other markets, beginning with countries in Southeast Asia (or the Association of Southeast Asian Nations or ‘ASEAN’) region in three years. AudioTrace intends to change the way people visit attractions by exploiting the digital platform to make it an immersive experience for the user. It hopes to be the main source of information for tourists not only in Malaysia, but hopefully within the ASEAN region in the next 5-10 years and perhaps grow exponentially in other parts of the world through mergers or acquisitions.

Item Type: Dissertation (University of Nottingham only)
Depositing User: Library Services, UNM
Date Deposited: 14 Aug 2019 08:54
Last Modified: 07 May 2020 10:32
URI: http://eprints.nottingham.ac.uk/id/eprint/57264

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