Background : 
The project aims to address the critical situation faced by my favourite local library that faced closure due to declining revenue and lack of customer interest in reading. 

Objective: 

• Prevent the library from permanent closure
• Generate revenue and ensure financial sustainability
• Focus on customer acquisition and retention
• Revitalize the library as a vibrant community hub for reading and knowledge sharing

Approach:

• Extensive research to understand challenges faced by the library
• Analysis of market trends and competitor research
• Gathering customer feedback and insights

Key Strategies:

1. Customer Acquisition and Retention:

• Targeted marketing campaigns to attract new customers
• Introduction of flexible subscription options to cater to different preferences
• Engaging existing customers through loyalty programs and incentives

2. Digital Transformation:

• Develop a user-friendly online platform for seamless access to digital resources
• Integration of digital technologies to enhance library services and convenience
• Implementing online surveys and feedback mechanisms for continuous improvement

3. Community Engagement:

• Hosting community events, book clubs, and author talks to foster a sense of belonging
• Collaboration with local organizations and schools to expand outreach
• Creating a multi-functional space by sharing the library with complementary services

4. Reevaluation of Subscription Model:

• Conduct market research to understand changing reading preferences
• Introduce flexible options such as one-time rentals and pay-per-use models
• Gather feedback from current and potential library members to refine the subscription model

Learnings:

• Understanding the challenges faced by traditional libraries in the digital age
• Importance of adapting to changing customer preferences and needs
• Recognizing the potential of community engagement in revitalizing cultural institutions

Conclusion:

• Proposed measures and strategies aim to ensure the sustainability and revitalization of the library
• By leveraging research and market insights, the project seeks to provide a viable path forward
• Emphasis on the library's contribution to the community's intellectual and cultural development