Before analysing Umbrella’s strategy in detail let’s start by highlighting the differences between goals and objectives. A goal is a desired result a business wants to achieve and is typically broad and long-term. An objective, on the other hand, defines the specific, measurable actions each employee must take to achieve the overall goal (Forsey, 2018). In 2017 Umbrella Group’s management presented its employees a 3 years plan called “20+20 strategy”: an ambitious goal to expand the business by 20% by the end of 2020. A growth of 20% over a three-year period is an aggressive target although the industry in which the company operates, the online gaming, has been growing for years and forecasts at the end of 2017 said the positive trend would continue in following years. To grow business 20% over the defined period the business needs a solid strategy to attract new customers, retain the existing ones and maximise the revenues generated.
To achieve this goal few key objectives were identified. First, the company wants to be recognized as the leader in trust, integrity and player safety among customers, policy makers, regulators, investors, partners, employees and in the general public. The business, at the end of 2020, wants to have zero revenue from harmful gambling. Objective is a very specific, easy measure, there’s a specific deadline to reach the target. It contributes to the main goal by making gambling 100% enjoyable so that the business is always well sustained by a loyal user base that constantly grows.
A second objective is to have the best customer experience in the industry and offer a best-in-class product offering that not only par up with competitors but goes above and beyond. By meeting this objective, the group can retain existing users and attract new ones. To reach this milestone the organisation decided to adjust its way of working and apply a so-called Customer Experience (CX) model: delivering higher customer value through customer experience and a journey-led approach. In this case the main KPI used to monitor progress is the Net Promoter Score (NPS) that indicates the percentage of promoters, in other words customers’ likelihood to recommend a company to someone, minus the percentage of detractors. The management has set the target value for this KPI to be reached by the end of 2020.