RedBk was launched last week (the week of November 28, 2011) and based on the coverage shown during the business news, it seems like competition is heating up in the telephone directory market.
RedBk (and i have to keep restraining myself from typing RedBook), plans to list both regular landline numbers for LIME but its distinctive feature is to list landline numbers for the other national carrier, FLOW, and also for the mobile companies.
For those of us who have seen the ads on TV they are quite catchy and a definite reminder that this company is serious and ready for business. We will post more information as we become aware of it, but here is what we do know.
What are you expecting from a regional telephone directory? Do you think there is a large market for mobile numbers to be listed?Source back to top »
A new business and personal telephone directory is to be introduced in Jamaica. To be known as RedBook, the directory will be targeted at the close to 2-million cellular telephone users in Jamaica with particular emphasis on the small and medium business enterprises who utilise wireless services.
According to President and CEO Carol Pryce, the aim is to expand the Directory Advertising market by listing both mobile and fixed numbers from all providers, Claro, LIME, Flow and Digicel.
Ms Pryce told a gathering of business and media professionals at the Pegasus hotel yesterday that REDBook will publish five regional directories in five defined geographical area of Jamaica, making each book small and portable. She told Newstalk the rationale behind publishing five regional directories which are called north, south, west, central and metro.
Ms Pryce noted that RedBook has already emplopyed 70 persons and intends to create upwards of 100 jobs in its first year. Most of those employed will be involved in marketing the new product as persons wishing to be listed in RedBook will be required to pay an annual fee.Source back to top »
JAMAICANS will soon have an alternative directory to choose from.
RedBk Jamaica Limited plans to launch by year end an all-inclusive directory of mobile and landline numbers for businesses and individuals, with no bias for service providers. LIME is currently the major player in the distribution of telephone directories to the local market.
RedBk president Carol Pryce said the directory will be a regional one for specific areas of the country which they will designate and target, not the Caribbean as the term suggests. In short, there will be an individual book for each region. She declined to say what the regions will be, but did confirm that there will be five.
"Our first location is in New Kingston, but our network will extend throughout the island," she said, adding that RedBk directories will be more relevant to both consumers and advertisers with pricing for its offering below that of current players.
The creation of five regional directories rather than a general one is a strategic move as the company wants them to be portable because "people need to carry them around". Additionally, persons will be able to see and access services offered in their area as opposed to the general islandwide listings that are available now.
"Our aim is to better serve all personal and business clients, large corporate, small and medium-sized enterprises and micro (any vendor) by providing them with the opportunity to be part of a directory service that gives them greater access to their current customers and potential customers. We do not see this as taking market share from the incumbent but merely providing another competitive option to all and a greater value-added product for Jamaicans," said a release from the company.
What's more is that the company will be targeting enterprises which do not use landlines, noting that prepaid and postpaid options are now in greater use, especially by smaller businesses.
"We plan to service the huge under represented group of mobile customers (prepaid and post paid) individuals, and small businesses" she said.
Entering a market that it describes as being "competitive", RedBk is seeking to create partnerships with both mobile and landline providers, having already made some inroads with telecommunications giant, Digicel.
"Digicel has granted RedBk permission to utilise its dealer channel to offer RedBk's advertising products," the release said. "RedBk encourages all telecommunication customers to list, be it Flow, LIME, Digicel and Claro."
RedBk will invest US$2 million (J$172 million) over the next 12 months providing employment for 80 people in the first six months and between 150 to 200 with the year. In return, it is expecting that revenues will be over a billion dollars for the first three years collectively.
The first regional directory should be available by April to September next year.Source back to top »
RedBk Jamaica Limited is preparing to officially launch in the coming weeks and is expected to announce to the media and the business community plans for an All-inclusive Directory. Ahead of this presentation they have prepared the following Media briefing questions and answers in no particular order from Ms. Carol Pryce President and CEO RedBk Jamaica Limited. Businessuiteonline now shares this with you.
1. Is RedBk Jamaica Limited a local company?
RedBk Jamaica is a locally registered company.
2. What are the Backgrounds of the investors?
The investors, stakeholders and partners have extensive backgrounds in both telecommunication and the business of directory and information services regionally and on the international market.
3. Who Are the Main Executives?
Carol Pryce – President and CEO and Richard Robinson – Chief Operating Officer – COO
4. When Do You Plan To Launch and Begin Operations
Before the ending of Calendar year 2011…. very Soon…
5. Where Are You Operating From
Our first location is in New Kingston, but our network will extend through- out the island.
6. Is Digicel involved and in what way
Digicel has granted RedBk permission to utilize its Dealer Channel to offer RedBk’s advertising products;
7. What about FLOW, are they involved?
RedBk encourages all telecommunication customers to list, be it Flow, LIME, Digicel and Claro.
8. How much revenue do you expect to generate in annual sales in one to three years.
RedBk estimates that the current market is approximately over a JMD $Billion dollars and we will try to grow our market share over the next few years. We do however anticipate in excess of $1 billion in revenue over the next 3 years.
9. Will the brand’s growth take market share from yellow pages or do you plan to grow the market.
Our aim is to better serve all personal and business clients, large corporate, SMEs, and micro (any vendor) by providing them with the opportunity to be part of a directory service that gives them greater access to their current customers and potential customers. We do not see this as taking market share from the incumbent but merely providing another competitive option to all and a greater value –added product for Jamaicans. In addition, we plan to service the huge under represented group of mobile customers (prepaid and post paid) individuals, and small business.
10. How did the idea for the business come about?
The idea came about from listening to the business community and trying to formulate an innovative information service, starting with a directory that offers more value (modular prices, targeted adds, regional focus etc.) and for the end-users (portability – less bulky), especially in our current economic situation.
11. Why are you coming into the market at this time?
Why not come to the market at this time…….. There is no better time to offer customers a more competitive and better valued product for money than now!
12. Why This Business = Telephone Directory
Our research indicated a need for a more all-inclusive Directory product in the market place. In addition to the landline business subscribers, which are mostly large Corporations, SME and Micro, and those households, which use directory services, there are over two million mobile/cellular phone users, many of whom fall outside of the registered Companies and the formal business sector. This is the large informal business sector, who are mainly cellular phone subscribers, who form a large portion of the under-represented group and who will now have the option to list in RedBk, right alongside companies and organizations large and small. Individuals and households, for whom the mobile/cellular phone has taken on new meaning as regards their ability to communicate, will also be able to list personal numbers and be found.
13. What’s The Size of the Business Opportunity?
The total number of all land lines and mobile customers in Jamaica.
14. How Much Do You Expect To Secure and Over What Time
That determination will be up to the market, however we are very optimistic.
15. What Is So Different About Your Product
a. Regional – RedBk Directories that is more relevant to both advertiser and consumer
b. Pricing – significantly below prevailing prices
c. Inclusiveness – anyone can list, business and individuals alike, regardless of their network provider (landline & mobile).
16. What the Investment to Be Made or Already Made
The total investment over the next twelve months is expected to be in excess of US$2M.
17. How Many Jobs Are You Looking To Create
RedBk will create eighty jobs over the first 6 month and a total of 150-200 jobs within the first 12 months
18. When do you expect to have the first RedBk Directory available on the market?
We expect to have the regional directories available between Q2-Q3 of 2012
19. Is an IPO In The Future, Can U Say When
We want to focus on delivering the best possible service to the market. We’ll do that and see where it goes from there.
20. Plans for the rest of the Caribbean
Let’s take it one step at a time!
Keep up with the latest trends in the RedBk CommunityIn the News
Keep up with the latest trends in the RedBk Community
RedBk (and i have to keep restraining myself from typing RedBook), plans...
A new business and personal telephone directory is to be introduced in Jamaica...
RedBk Jamaica Limited plans to launch by year end an all-inclusive directory...
RedBk Jamaica Limited is preparing to officially launch in the coming weeks...