Hello Alfred - Success Factors

GOALS

To learn more on the success factors of Hello Alfred's business model by verifying if the company aims to attract customers without losing service levels, while minimizing their own resources by utilizing external on-demand services; and if the company is directly involved in the customers' life. And If so, why can these services be considered as success factors and why are other companies that provide similar services to Hello Alfred not able to replicate Hello Alfred's unique services, if they are correct or true.

EARLY FINDINGS

  • There was no direct information on why Alfred's unique services should be considered as success factors

ON-DEMAND SERVICES:

  • The founders of Hello Alfred, Marcela Sapone and Jessica Beck, consider its business model to be B2B2C.
  • Alfred partners with other brands that provide on-demand services such as repairs, as its Alfreds (a trained and trusted home manager) can manage them for its clients.
  • It connects customers to get on-request services like pet care and home cleaning. It also partners with service partners, local business partners, and brand partners for various on-demand services.

INVOLVEMENT WITH CUSTOMERS' LIFE:

  • Alfred compiles data about its customers and their preferences to provide a better experience because "the more the company knows about its clients, the better it can satisfy and anticipate customers’ needs."
  • Forbes describes this relationship as "an intimate relationship."
  • "Customers get individual Alfreds who routinely visits their homes and organize their lives. They "can pick up and put away dry cleaning, unpack and break down Amazon packages, stock the kitchen, and can even manage other on-demand services for its clients.
  • Most of its customers are "happy to have their favorite brands and services cataloged and tracked to help optimize their experience."
  • According to Sapone, the company hires staff members who are motivated to take care of people, have a care-taking mentality and love hospitality, who are detail-oriented and intuitive."

SUCCESS METRICS:

  • To overcome the difficulty of getting customers to hand over their keys, Alfred performs a deep background check on its employees while trying to earn customers' trust little by little.
  • With its mobile app, customers find it easy and convenient to demand for any service.
  • The company believes that "hiring the right people, who are paid as full-time employees, not independent contractors, is critical to its success."
  • "Hello Alfred won the coveted TechCrunch San Francisco Disrupt Cup in 2014, and by April 2015 had secured $12.5 million in seed and Series A funding."
  • In 2018, Alfred raised $40 million in Series B funding to aid its expansion into more buildings and cities.
  • It has partnered with luxury real estate developers, such as Related Companies, L&M Development Partners and Hines "who see Alfred as a perk to help attract high-paying renters." This opened Alfred to the service of entire buildings and new customers.

PROPOSED NEXT STEPS

In fulfilling your goal of learning about Alfred's success factors, we propose continuing the research. As an alternative to why its unique model should be considered as success factors, we can provide other success metrics as proof of the success of its model. Hence, we recommend the following:
  • Provide an analysis of Hello Alfred's business model by specifically verifying the following a) if the company aims to attract customers without losing service levels, while minimizing their own resources by utilizing external on-demand services and b) if the company is directly involved in the customers' life. Also, provide 5-7 success metrics that proves that its business model is successful (3 hours, $87)
  • As identified above (if these models are true upon verification), find 2-3 case studies demonstrating why other companies that provide similar services to Hello Alfred are not able to replicate Hello Alfred's unique services/model. (3 hours, $87)
As a more conservative option, we recommend the following:
  • Provide an analysis of the business model of Hello Alfred, success metrics that demonstrates the impact of the business model and why other companies are not able to fully replicate its business model. (3 hours, $87)

Proposed next steps:

You need to be the project owner to select a next step.