Performance Coaching Apps
To determine if platforms and coaching apps similar to Humu are seeing an increase in adoption by specific business size segments: SME or enterprise. And, to determine if a competitive whitespace for a new company to focus on either large, midsize or small firms as clients exists.
There is no evidence in the public domain that definitive articles or studies exist detailing which of the segments (large, midsize or small companies) tend to use mobile coaching apps more with their employees. Sources presented below show the opportunity exists for business regardless of company size and structure, mostly due to the increased use of remote work caused by the pandemic.
- According to IBIS World, the 2020 US 'business' coaching market size is estimated at $11.6 billion. It was approximately $13.4 billion in 2019.
- CMS Wire explains how "new coaching services and platforms have become available" recently, and there's a wide variety of apps and platforms "in terms of what they provide (leadership coaching, including how they match coaches and coachees), what kind of offerings they provide (some are geared toward individual stress management vs. business results), whether they include automated, self-help features and more." Their article does not differentiate between SME sized businesses and enterprise, rather includes both as users of these new platforms.
- BCG's report on business coaching relates more towards how corporations, which seem to be the focus, need to adapt learning throughout the company including the C-Suit level. BCG explains how "the emergence of COVID-19, which forced governments around the world to impose stringent lockdown measures, more than 300 million employees have been obliged to work remotely, away from their offices. This, we believe, has catapulted companies three to five years into the digital future." This potentially opens a competitive whitespace, albiet not specific to SME sized business or enterprise. The opportunity is available across the business size spectrum.
- There are multiple sources that detail what they have determined as the 'best online coaching platforms, apps and tools'. These include Nudge, Positive Psychology, and Comp Tia.
- Salesforce offers service in conjunction with Humu's AI backed coaching platform.
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