Looking at business from the perspective of delivering and receiving value, opens up new business opportunities. That sounds very logical and perhaps obvious. But, many companies do not seize the opportunities. This blog describes an example from one of my projects.
The company is a startup that has developed an application (web and mobile) in the field of fitness and nutrition. A very common solution with a simple business model of selling boxes at gyms. In a fighters market where a market share has to be gained through selling at low prices. The application does have interesting possibilities for interaction with users.
Question: what are the commercial possibilities?
The application is a simple product, exercise and nutrition, while people are increasingly interested in fitness in a broader perspective. This can be summarized by the theme of vitality: exercise, nutrition, general health, spirituality, mindfulness, self-development, etc. People also grow in this, they deepen their interests and / or broaden their horizons. Several types of content with with this theme and with these interests. In this lie also the commercial opportunities. Offering a unique and distinctive product with content within the theme of vitality. In this lie also five different options for making money.
5 different revenue models
1) The client can search for partners who can provide additional content within the application. Together they can create a value chain in which they can serve each others customers. More diverse content in a broader field appeals to more customer groups. The application distinguishes itself and will be sold more.
2) Users, in the consumer market, can subscribe to the content that is relevant to them. This is a second revenue model.
3) Via a map, The application has possibilities for local interaction. Local service providers can offer their services within the theme of vitality. A third revenue model.
4) By building a database, usage and interests can be accurately monitored. This offers the client the opportunity to approach (new) providers and developers of content and to offer them a market. The fourth revenue model.
5) The database also offers the possibility to publish reports on the positive effects of vitality and discuss these with social institutions (the client’s wish). The fifth revenue model.
This creates a unique offer in the market. An offer that appeals to multiple customer groups. An offer that is also interesting for the business market and for institutions and governments.
With the help of the Value X Scans, 5 ways to earn money and new markets and customer groups have been identified.
Do you also want multiple revenue models and / or find new market segments and customer groups? Make an appointment now!
Alice van den Boogaard