business model canvas
Post on 10-May-2015
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Business model canvas
A BUSINESS MODEL IS
HOW A COMPANY CREATES VALUE FOR ITSELF
WHILE DELIVERING PRODUCTS OR SERVICES FOR ITS CUSTOMERS.
Business model canvasValue proposition
Customer relationships
Customer segments
Channels
Revenue streamsCosts
Key partners
Key activities
Key Resources
Business model canvasValue proposition
Value proposition
NOT a list of features / technologies
How do you create joy or relieve pain?What need are you addressing?What problem are you solving?
Look for needs when possible!=> 5 why’s
Business model canvas
Customer segments
Customer segments
• Better multiple detailed than one generic
• Create persona(s) / archetypes per segment
• Learn to know your customer!– How do they buy? – How do they learn about new products?– What is their role?– What matters for them?
Customer segments
Look for the holy grail: product – market fit
• Map value proposition to customer segments
• Make sure these hypotheses are TESTED
Business model canvas
Channels
ChannelsVirtual channel Physical channel
Virtual product • Facebook• Twitter• Apps
• Insurance• Software• Stocks
Physical product • Shoes• Books• Movies• Consumer electronics
• Food• Household goods• Cars
Channels
Channels
Business model canvasCustomer relationships
Customer relationships
• How do we GET customers?
• How do we KEEP them?
• How do we GROW?
Customer relationships
Customer relationships
Physical channel
Customer relationships
Web / mobile / cloud channel
Customer relationships
GET customers by PAID demand creation
• Public relations
• Advertising
• Trade shows
• Webinar
• Direct (e-)mail
• Search engine marketing
Customer relationships
GET customers by EARNED demand creation
• Publications in journals
• Speeches / conferences
• (Guest) blogging
• Social media
Customer relationships
KEEP customers
• Loyalty programs
• Product updates
• Customer satisfaction
• Contests / events
• Blogs / newsletters
• Social media
Customer relationships
Keep the metrics!
• # awareness / # consideration
• $ spend on adds / acquired purchase =
customer acquisition cost
First think about GET, once you have some think
about KEEP and GROW
Business model canvas
Revenue streams
Revenue streams
NOT ONLY the price people are paying
Revenue stream = the strategy the company uses to generate cash from each customer segment
Pricing = the tactics you use to set the price in each customer segment
Revenue streams
What value are customers willing to pay for?
How do customers pay today?
How much are they currently paying?
Revenue streams
• Asset sale: ownership of physical product
• Usage fee: proportional fee to usage of service
• Subscription fee: continuous access to service
• Renting: temporary access to good/service
• Licensing: fee for use of some IP
• Intermediation fee: bringing two parties together
• Advertising: fee paid by brands and companies for ads
Revenue streams
Common mistakes:
• Price on cost
• Price on value
• By default less than competitor’s
Business model canvas
Key partners
Key partners
• Shared economics (2-way)
• Mutual success / failure
• Common customers
• Co-invention / co-development
Key partners
Risks:• Impedance mismatch• Timing mismatch• No clear ownership of customer• Product vision problems• Different underlying objectives• Churn in partners strategy / personnel• IP issues• Difficult to unwind / end
Business model canvasKey activities
Key activities
What is essential for you to be able to deliver your value proposition?
Business model canvas
Key Resources
Key resources
• Physical resources– Company facilities– Products / services
• Financial resources• Intellectual resources• Human resources– Qualified employees– Mentors / teachers / coaches
Business model canvas
Costs
Costs
What are your costs?
What are the most expensive resources /
activities?
Fixed / variable?
Tips on creating business models
• Separate colors for each customer segment
• Use sticky notes …
… but as few as possible
• Focus on quick communication
• Draw instead of write
• Explore lots of possibilities
• You sell your value proposition …
• to a customer segment …
• who you reach through some channel.
• You have an ongoing relationship to create
retention and lock-in.
= That’s how you make money
• To create the value proposition, you do certain
key activities …
• using your key resources …
• which costs you money.
• Anything you don’t do or have yourself, you get
from a partner.
EXAMPLE
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