written articles and ebusiness creating online businesses.

Invitation to the International Congress of Adaptation of Business Models

En octubre empezará el Congreso Internacional de Adaptación de Modelos de Negocio, los días 5, 6, 7 y 8 de octubre. Este es un evento que hemos creado conjuntamente Quadrant Alfa, The room Y The Human Branding. We think that in times like these, it is necessary to do everything in our power to help companies recover and achieve much more resilient business models (more resistant to disruptions such as that caused by COVID-19).

The congress is specially designed to help companies in 2 aspects:
To understand that a business model is made up of different components and that the adaptation of a component does not imply a radical change, so it is perfectly acceptable for most companies and managers.

Let's see a whole list of adaptation possibilities that we can carry out in each of the 9 components of a business model. We will highlight how companies adapted them during COVID-19 to inspire you and discover how you can adapt yours.

If you are in the southern hemisphere and in full confinement, knowing how European companies have adapted will help you stay ahead of your competitors and not suffer what we have suffered. If you are in the northern hemisphere, knowing what companies are doing will help you recover faster.

For this we have brought together 19 experts from 5 different countries who, in 4 days of 4 hours, will help us to make the task much easier and above all, to see more clearly how to implement the changes. The presentations will take half an hour to make everything much more agile and you will have time to ask specific questions. The congress is in Spanish.

As a reader of my website, you have a 10% discount on the price of any ticket if you use the discount code MONTSE10 when making the purchase.

You will find all the information here: https://www.adaptacion.online/

These are some of the expert speakers that we will have at the congress:

(If you buy the ticket, don't forget to write MONTSE10 in the section dedicated to the coupon, inside the shopping cart)

Keep in touch.
See you at the congress.

COVID-19: Digital adaptation or digital transformation?

From the Innova Institute de La Salle - URL we continue, as every week, analyzing different aspects with which COVID-19 is transforming companies and their environment. This week we reflect on whether it is really leading to the digital transformation of companies or if they are simply adapting to circumstances and everything will return to normal when the pandemic passes.

The areas that we have analyzed are the following:

  1. Education: The digital transformation in education responds to a process of media literacy adapting to the ways of learning and accessing the knowledge of new generations.
  2. Financial services: Financial services as they are known today are going to change, adapting to more digital models.
  3. Telecommuting for companies and workers: There is a clear difference between what telework is and what thousands of companies around the world have put into emergency practice to continue operating during the COVID-19 period.
  4. Ergonomics in teleworking: It is still unknown when the alarm state will end for COVID-19. For this reason, companies must propose to their workers to adapt their temporary work offices at home, in order to be able to work ergonomically in search of business results.
  5. Government online: Being the ultimate goal of a Government to ensure the general welfare of its entire population, it is difficult to imagine this task without real contact between its protagonists.
  6. Culture and tourism: Both tourism and culture have taken advantage of COVID-19 to maintain contact with users through the networks. Many institutions have understood that their value proposition at this time should be to entertain people in confinement, especially children, and a large part have offered online services aimed at entertaining and entertaining.
  7. SMEs - Commerce: Business development sees digital transformation as a way to improve its results by optimizing its processes and facilitating its management, which is reflected in profits, growth and advantages over those that do not make these investments.

The original article with each section well explained and reflected on whether it is adaptation or transformation has not yet been published on our blog, but some magazines have already echoed it. You can find it in the following publications:

Tic and SMEs: COVID-19: Digital adaptation or digital transformation?

Granada Companies: COVID-19: Digital adaptation or digital transformation?

Today's Economy: What will be the organizations response to COVID-19: Digital adaptation or digital transformation?

In the digital publication Contact Center Hub, they have made a summary with the section dedicated to telework: Teleworking before COVID-19: Digital adaptation or digital transformation? and they also quote us in another article Is teleworking here to stay?.

I hope this information is useful to you and that you also reflect on whether the changes they have implemented in your working life during these weeks have transformed you or you will return to your normal life when all this has happened.

If you want to leave your opinion, do not be shy ... under these lines you have the comments section, I will be happy to have a conversation about it.

A hug

Montse.

10 ideas to undertake in sustainable sectors

Continuing with the publications that we carry out from the Entrepreneurship Research group of the Innova Institute de La Salle-URL, this week we have been working to discover areas related to sustainability, in which there are possibilities of successful entrepreneurship. We have addressed this issue because we think that after the Covid-19 (what is already called the PostCovid-19) sustainability will be a much more considered feature in business models than it has been until now.

The areas in which we think there are opportunities are the following:

1. Agriculture and food industry: The world hiatus caused by Covid-19 is supplying a small truce that is allowing a regeneration of the planet. Environmental awareness has grown, consumption of resources is more responsible, there has been a notable improvement in environmental quality, and people have realized that protecting the environment contributes to a healthier and more balanced life.

2. Sustainable urban mobility: The high concentration of people in the means of transport and its improvable health conditions have made urban mobility one of the main sources of infection, increasing the risk of contracting the virus by between 4% and 6%. Consequently, the authorities and administrations of many countries have been forced to minimize its use and consider developing sustainable ventures in this sector.

3. The circular economy: The European Commission has just published the Action Plan for the Circular Economy. Proposed policies include increased product durability, the right to repair electronic devices, reduced use of plastics, and more accurate eco-labeling, among others. Following this path, the Innova Institute predicts that undertaking on issues related to the circular economy is a good opportunity for the PostCovid-19 scenario.

4. Integrated and efficient water management: Water scarcity already affects globally. What was once a problem for developing countries is now also a problem for developed countries. Water is not an infinite resource, but it is used as if it were. For this reason, the need for a comprehensive water treatment has been evident throughout its generation, use and recovery cycle. Despite everything, in 2030 there will still be 60% of the countries in the world that will not carry out this necessary comprehensive treatment system.

5. Logistics and supply chain: The companies that have provided a fast, safe and reliable service during Covid-19, and are also committed to sustainability, are those that will be strengthened after the pandemic and will generate confidence in customers in the PostCovid-19 era. These companies focus on innovation and quality, acting locally, but under collaborative logistics management models with other companies in the network. Thus, they meet the needs of small batches, with fast service and ensuring quality and traceability in the process.

6. Fashion, the second most polluting industry: El coronavirus ha provocado un enorme parón generalizado en la industria de la moda, ya sea por el cierre de tiendas o fábricas para proteger a sus trabajadores, por volcarse voluntariamente en la producción de prendas para uso médico o porque su producción dependía mayoritariamente de China o Italia. La moda, que produce más del 10% del total de emisiones de CO² en el planeta, es la segunda industria que más agua consume. Los plásticos han reemplazado a las fibras naturales y el poliéster se usa en el 60% de la producción, generando de dos a tres veces más carbono que el algodón sin degradarse en el océano. Greenpeace indica que el lavado de las prendas arroja al mar el equivalente a 50 billones de fragmentos en microfibras.

7. Replacing oil derivatives: La fundación Ellena MacArthur señala en un estudio que el 40% del empaquetado de plástico acaba en basureros, un tercio en el océano y solo un 14% se recicla. Esto dibuja un escenario crítico. Por eso, la búsqueda de sustitución de biopolímeros y la implementación de estrategias 100% funcionales para el reciclaje es una necesidad para la industria. La startup Oimo, ubicada en La Salle Technova, el parque de innovación de La Salle-URL, se dedica al diseño de nuevos materiales ecológicos en España y Reino Unido. Con la voluntad de reducir los 14 millones de toneladas de plástico que terminan en el océano, ha desarrollado un material soluble al agua como alternativa al packaging de plástico. En este sentido, el Innova Institute considera que el emprendimiento sostenible en empaquetados alternativos al plástico saldrá reforzado en el PostCovid-19.

8. Energy efficiency: The Covid-19 crisis has revealed that transformative changes are possible overnight. In terms of energy, it is demonstrated that there is no reason not to phase out fossil fuels and deploy renewable energy and energy efficiency technologies. It is in line with this concept that the European Union has developed a series of proposals to lead the economy towards energy savings.

9. Telecommunications technology: During the confinement of the Covid-19, the traffic on online platforms that allow the organization of meetings, the development of virtual classes and the establishment of communications and conversations has increased considerably. Some of them were already known —such as Zoom, Hangout and Whereby— and others have taken the opportunity to make themselves known or to implement complementary services.

10. The built space: El Covid-19 ha promovido el desarrollo del teletrabajo, pero también ha evidenciado que esta opción tiene condiciones mínimas para su desarrollo. La experiencia previa permite reconocer los modelos de economía colaborativa asociados a estas propuestas como oficinas compartidas, los garajes compartidos y los lugares de cowork. La fuerza de estos movimientos ha llevado a que empresas de comunicación como ETB, Movistar y Mapfre Seguros hayan presentado a sus usuarios espacios de coworking. Sin embargo, se deben asegurar condiciones mínimas para optimizar los resultados, tanto la separación de ambientes entre la familia y el trabajo, facilitar la innovación al interactuar con empresas del mismo sector, la transferencia del conocimiento o al generar alianzas y complementos cuando se dan espacios con empresas de diferentes sectores.

The original article with all the sections well explained you can read it here: The Innova Institute analyzes how sustainable entrepreneurship could be for the PostCovid-19 era

I hope this information is helpful to you and allows you to reflect on the need for sustainability in future ventures.

Keep in touch.

Montse.

10 areas that take after CodId-19

¿Qué tal va el confinamiento?

Espero que tanto tú como tu familia estéis bien. Aquí en Barcelona vamos tirando… empezando ahora la tercera semana.

Como ya sabes, el éxito de un proyecto de emprendeduría depende en gran manera de 3 cosas: que el producto o servicio sea de calidad, de que haya una necesidad en el mercado y de que hagas un buen plan de marketing. A causa del COVID-19 las necesidades de las personas y las empresas han cambiado, así que si somos capaces de detectarlas, obtendremos una ventaja competitiva.

La semana pasada nos reunimos una parte del equipo de investigación en Emprendeduría e Innovación de La Salle, para analizar conjuntamente las oportunidades de emprender que están apareciendo a causa del COVID-19. Detectamos 10 áreas en las que están apareciendo nuevas oportunidades para emprender una vez termine la pandemia.

Estas áreas son:

  1. Teletrabajo
  2. Formación online
  3. Seguridad en las conexiones
  4. Acceso online a la sanidad
  5. Impresión 3D
  6. Servicios de ayuda a la 3a edad
  7. Bienestar en casa
  8. Ocio y entretenimiento
  9. Acceso a la cultura
  10. Logística

Si quieres leer el artículo original, lo encontrarás aquí: (en inglés de momento) https://blogs.salleurl.edu/en/10-areas-which-you-can-start-business-after-covid-19-pandemic-0

El artículo lo enviamos al departamento de prensa de La Salle-URL y parece que ha tenido muy buena acogida en diversas publicaciones. Te pongo a continuación sitios en los que podrás encontrar el artículo en castellano y en algunos casos un poco más resumido.

Aquí encontrarás una versión en castellano que nos han publicado en la revista Emprendedores: Diez oportunidades en las que emprender cuando se acabe el Covid-19

Y aquí otra versión que han publicado en American Retail: Diez oportunidades en las que emprender cuando se acabe el Covid-19

Y otra de Autónomos y Emprendedores: Algunas actividades donde será más fácil emprender tras la crisis del COVID-19

También Head Topics lo ha publicado: Diez oportunidades en las que emprender cuando se acabe el Covid-19

la revista Innovación Económica también lo ha publicado: Diez ideas de negocios post pandemia

Y curiosamente, la revista de moda Harpers Bazaar, también lo ha publicado: Diez oportunidades en las que emprender cuando se acabe el Covid-19

Espero que el artículo te sea de utilidad y que tú también veas oportunidades que puedas aprovechar.

Esta semana estamos trabajando en otro artículo dedicado exclusivamente a la emprendeduría en temas relacionados con la sostenibilidad, lo comparto a la que esté acabado.

Keep in touch.

A hug

Montse.

What are the dynamic capabilities and what they

Dynamic capabilities are the different skills, processes, procedures, organizational structures, decision rules and disciplines that allow the detection and capture of opportunities that appear in a company. This is the academic definition. Hope you understand it. If not, keep reading please.

Dynamic capabilities enable companies to create, deploy, and protect intangible assets that, in the long term, will enable superior business performance. Hence, it is important to detect in your company what these capabilities are and that you promote them. Firms with strong dynamic capabilities are much more entrepreneurial and better adapted to changes in the market.

When we try to understand what a business model is and use the Osterwalder definition, we say that a business is a system by which, with some resources, we are able to create value for a market segment and then we are able to collect that value in a proper way. monetary. Well, within these resources is where the dynamic capabilities lie.

But they are not the only ones…

Why do we call them dynamic capabilities?

Well, as opposed to non-dynamic capacities. The dynamics allow to change, to evolve the company. The rest of a company's capabilities allow it to operate normally, and obviously they are just as important as the dynamics. It's just that having dynamic capabilities in fast-moving environments like today has become a competitive advantage. Hence we are now talking about this ability.

Types of dynamic capacity

There are three types of dynamic capacity:

  1. The ability to know how to detect opportunities and threats.
  2. The ability to know how to take advantage of opportunities.
  3. The ability to maintain, combine and grow the tangible and intangible assets of our company.

Entre ésta última se encuentra la que es estudio de mi doctorado: la capacidad para adaptar un modelo de negocio cuando esto es necesario. Mi pregunta de investigación es “Si todo el mundo sabe que cuando el mercado cambia, las empresas también tienen que cambiar. ¿Por qué hay empresas que no cambian y mueren?”

Obviously the answers are many and not all are the field of the "management”Some of them are explained from the point of view of people's psychological behavior (risk aversion, fear of change, fear of failure, etc.). In my case, for the moment I limit myself to analyzing them from a business point of view and returning to dynamic capabilities, I am focusing on the capacity of “Business Model Adaptation”, that is, the ability to change and adapt the business model of a company to adapt to changes in its environment.

At the moment in which we live with Amazon and Alibaba unfolding around the world, in which the Earth is flat and the market is almost infinite, and in which all information can be digitized, it seems essential to me that someone help companies to adapt, instead of "selling smoke" and trying to make companies disruptive and that they are the ones who, thanks to innovation, break and transform markets. It seems unrealistic to me that the SMEs of our country are going to be able to survive being disruptive… it seems more accurate to help them develop the capacity to adapt.

Well, I'm not going any further. This article was only intended to explain a little better what dynamic capabilities are (Dynamic capabilities), and that this reflection will help you to think about which are those of your company or those of your person. Are you able to detect opportunities and threats? (or put another way, do you have time to detect opportunities and threats?) and are you able to recombine your company's resources to take advantage of those opportunities?

I hope I have gotten the reflection.

You will find more information on dynamic capabilities here. It is a closed article by the best specialist in dynamic capabilities. Just by reading the abstract it will be useful to you. If you have a way to get the entire item, you'll love it.

If you want to know more about business models, there are two articles of mine that can help you:

  1. On the difference between strategy and business model
  2. Whether or not they have changed the types of business model

Let's keep talking

A hug

Tool that calculates the value of a website

Today we put online a calculator that can determine much is a website. We have done it because this is one of the questions that I am usually asked in class. Surely, if you have a website, you have also asked yourself "How much is my website worth?".

To find out how much your website is worth, first ask yourself some questions, and then we will indicate how much you could bill with an advertising-based business model and how much in an e-commerce based business model. With this we are able to make an initial evaluation of your website that can be useful in case you need to evaluate it.

How to calculate the value of a website? and How to calculate the turnover of a business online?

Every day I see business plans made by my students in predicting revenue from advertising or e-commerce totally exaggerated. This tool can help predict income of a portal based on their traffic. Thus, the performance of the financial plan in a business plan can go extrapolating growth of a website (which are a function of network externality of the business) and from these data and with the help of this tool, you can predict potential advertising revenue.

The issue of determining the growth of a portal based on network externalities of their business model is not easy. In a business where the growth model of its users is linear, usually it grows very slowly. In a business type marketplace (where supply and demand, such as Solostocks.com) They are growths of between 12% and 15% per month (geometric) in a business network type (eg Linkedin) growths are much stronger and can exceed 20% monthly geometric.
In this regard, when I worked in Intercom I wrote an article that may be of interest: Why free content raises the billing? (OGame)

Returning to the subject of calculating the income of a portal, if we are able to extrapolate the growth in the number of users of our online service, with this tool we can have a potential clue to the billing page. So you can help us get more realistic business plans when the portal business model is based on selling advertising.

By the way, I almost forgot ... if you want to know how much is a website worth, here is the link to the calculator: Value Request web

We talk to each other.

What is the difference between Business model and strategy?

So when I help companies to adapt their business models to the current environment, as when I teach the subject of creating a Strategic Plan for the Internet, I realize that my interlocutors confuse these two terms: Business Model and Strategy. Also they confuse strategy with tactics ... but clarify these last two terms in another article. In this we are going to focus on What is the difference between business model and strategy? With these two clear concepts in mind, we can advance the conversion of our existing business more easily.

To go straight to the point and if you do not want to read the whole article, succinctly, "Business Model" refers to the logic of a company, how it operates and how it creates value for its shareholders. Instead, "Strategy" is the choice of business model with which the company will compete in their market. That is, the business model you use depends on the strategy you wish to make.

We will now develop a little more two concepts to fit you clearer:

What is a business model?

The origin of the term "business model" is found in Peter Druker in the 80s, but the term has evolved a lot the last 20 years with the emergence of internet and the need to adapt to this new business environment. An updated definition is:

"Business Model is the representation of architecture value of a business that shows how a company or organization can offer a value proposition to certain market segments, how to define the structure of the value chain is needed to provide this proposal and how it defines mechanisms capture the value that the company or organization will use to generate revenue. "

For if you do not clear:

The functions of a business model are:

  • Articulate the value proposition of the company. So, define what makes you unique offer.
  • Identify market segments that the company wants to attack.
  • Define the structure of the internal value chain that will need to deliver the value proposition and estimate the cost of maintaining the structure. That is, and with plain words, you need to deliver your value proposition and how much it will cost.
  • Define the architecture capture value and estimate the benefits you get when you capture the value. So, how do you get income and what will be.
  • What is your position on competition.

From my point of view, the best way to represent a business model is a Canvas (foot attached and link to the article picture). Although part of the competition is a little lame on Canvas and better treat a part (link at the bottom of the article on how to analyze competitors).

Business model

What is a strategy?

It is creating a plan that will take you to achieve your goals. No es el plan, son las decisiones que deberás tomar para crear el plan. Estas decisiones también incluyen en plan de contingencia, es decir, qué harás en caso de que tu competencia haga algo o algo cambie. El modelo de negocio forma parte de ese plan. O sea, primero decides cuál será tu estrategia y luego eliges el modelo de negocio que más te conviene. Lo que pasa es que muchas veces es más fácil decidir cuál será tu estrategia cuando pones sobre un papel los diferentes modelos de negocio que puedes elegir, de ahí la confusión. También ocurre que a veces, las pequeñas empresas tienen modelo de negocio, pero no siguen ninguna estrategia (esto es malo, obviamente… pero así es la realidad).

I hope I've been helpful and you now have clearer What is the difference between Business Model and Strategy.

You will find more information on these links:

  • Evolution of Business Model definitions and components that form in this article Zott, Amit and Massa: What is a business model
  • My model of how to analyze competitors on the Internet: How to analyze competitors
  • On business models and how to use them to beat your competition in this article Ramon Casadesus and Joan Ricard: business models to compete
  • Link you will find a video explaining how to use a Business Model Canvas and a form for you to download it for free the official version of the model: Business Model Canvas

If you need personalized help to adapt your business model to strategy you decide, do not hesitate to contact me.

We talk to each other.

A hug.

Have they changed the types of online business model?

Adaptation of the business model of a company over time is a key to the survival of the company factor, medium and long term. But the types of business model Internet have changed since 1992 when the first website was created to this day?

Types of business modelEverything depends on classification we use.

With an overall ranking as the "4C" Wirtz, Schilke and Ullrich (2010) (the image along these lines) observed that typologies have not changed. Businesses that were created in the late 90s and businesses created in 2018, can be classified into one of four types:

  1. Oriented business creation / selection / compilation of content (online news, blogs, youtubers, etc.)
  2. E-commerce oriented businesses close transaction whether or not (Amazon, eBay and any online store)
  3. designed to give context to information business (this is the case of Google, for example)
  4. Business oriented to provide networking services (Facebook, Linkedin, etc.).

Although there are some whose model is hybrid, such as Youtube, which in turn gives context to content, but also includes social networking features. The same could be said of Instagram if we consider more than just a social network.

On the other hand, returning to the beginning of this article, lyou must continue to adapt its business model as time passes, este es el caso por ejemplo de Amazon, que empezó en 1994 como tienda online de libros, poco a poco fue incorporando su comunidad de lectores que enriquecían las fichas de los libros, luego pasó a comercio electrónico de todo tipo de producto y finalmente combina su comercio electrónico con un marketplace. Utilizando el modelo de las “4C” parece cómo si no hubiese cambiado, pero lo cierto es que dentro de lo que los autores del “4C” consideran comercio electrónico, hay todo un mundo de subtipos de modelo de negocio… pero profundizar en este tema lo dejaremos para otro artículo.

In case you are interested in topics of the archetypes of business models, I'll leave this table under these lines is what I use in class when I explain the model of the "4C" and key success factors of each type, so as the different sources of income that can use such businesses. (Yes, it's in English ... but this class impart English).

Types of business model

I hope the information is useful to you.

Here you find the article that the authors of "4C" explain their model: “4c” Business Model Archetypes

We're going talking.

Kisses.

Do you really know what you want your client? Just ask!

Why is it so important to create customer value

Seguramente te has preguntado alguna vez porqué hay empresas que triunfan de forma espectacular como Google, Facebook, Amazon, Apple, Booking para citar algunas, y otras empresas que tuvieron su momento como Nokia, Sony, AOL, Yahoo, pero que hoy en día, en plena era 3.0 y entrando en la 4.0 no han sido capaces de sobrevivir o están agonizando. El mundo está cambiando de nuevo. De hecho, está siempre cambiando, pero los modelos de negocio que fueron válidos en la era 2.0, la de las redes sociales, la primera década de los años 2000, ahora no son suficientemente robustos para retener a los clientes actuales, mucho más sofisticados y conocedores de las herramientas online y de las posibilidades de internet. No tenemos más remedio que evolucionar.

Index

The importance of generating value in the business model

In academic definitions of "What is a business model" that is found mostly an abstract concept that no one dares to define with specificity. Luckily we have Osterwalder (the same as in 2009 created the framework Canvas Business Model) that helps us clarify terms and business model defined as "the system that creates, delivers and captures value." On their website you will find more info about this model https://strategyzer.com/

So a good business model revolves around creating value and ability of the company to recover the value as billing and profit ... but how can we create value?

How do we generated value for a customer 10 years ago?

En la época del 2.0 había negocios que con solo formar parte de ellos ya se generaba valor, lo que se denominaba “las externalidades de red” (network externalities, en inglés). Eran el tipo de negocio de floreció desde 1998 hasta más o menos 2010 y que se regían por la llamada “Ley de Metcalfe” que postula que el valor de pertenecer a una comunidad incrementa al cuadrado del número de usuarios que forman parte de ella. Este es el caso de Facebook, de eBay, de todos los portales de citas, de Wallapop, y un sinfín más de negocios online. En 2004 escribí un artículo donde explicaba qué es la Ley de Metcalfe y qué es una Red de Metcalfe, si quieres leerlo lo encontrarás aquí: What is Metcalfe's Law.

The point is that in 2000 businesses operating in a network of Metcalfe are those who triumphed at that time and the value was generated by the market efficiency, the complementarity among the products offered, los lock-in’s who managed the sellers were faithful to the market and novelty posed this market. These are the keys to success SoloStocks, from Infojobs, from eMagisterTo name a few of the businesses that create from IntercomBut also the most online companies created in the early 2000s and had good life until 2010 approx.

From a time, which can be between 2008 and 2010, many businesses began to go into decline. At first it was attributed to the crisis ... wear brand ... but the truth is that the online world was changing and we were starting to get into the web 3.0: Mobile internet, pervasive, intelligent devices, augmented reality, virtual reality, big data and new business models, many of them based on e-commerce and social interaction.

How to create value in today's world?

This question has no easy answer. Each company must analyze how ... but there are several fronts on which we can create value:

In the product: making it reliable, with the exact features you need the client that is easy to use, ...

How to offer the product: a good marketing process, a good process sales, extraordinary customer service, a clear billing process, ...

How we relate to the client: resolution of incidents flawlessly, quality technical support, confidence in our company, ...

... Surely you're asking in your case you do not see clear ... read on ...

How do you know what your customers consider value?

There is a term that is becoming fashionable that is the co-creation ... How can we apply the concept of co-creation with the challenge of knowing what a customer wants? Well, by asking customers own! Something that previously would not have done that would have seemed a weakness of business or weak leadership and vision of the direction ... but now, at the customer has great power (... and knows it) makes perfect sense in the world we do participate in finding new ways to create value.

Examples of value co-creation

LEGO - Example of co-creation of value creation product: through LEGO Ideas this company includes proposals to create new products and ensure that when the product reaches the market has accepted and at least a certain number of buyers will be with him. In addition, the person who proposed the idea gets a share of the profits and is cited in the boxes as the creator of the idea, and rewarding creativity and participation, while loyalty of users.

ALAIN AFFELOU - Example of co-creation of marketing value: This eyewear manufacturer has created Ideas4afflelou.es to propose challenges, receive new ideas and customer loyalty. The challenge today is marketing they have open and ask users how would like the "Black Friday" of Affelou this year 2018. Do you realize the change? It not that the marketing department does not have ideas, is that the ideas offered and voted by users ensure good customer orientation, while client loyalty and are innovative.

BANK SABADELL - Example of co-value creation from employees: since 2010 the Banco de Sabadell has BS Idea on the intranet of this entity, a community created by employees, regardless of position, they offer ideas for improvement to the bank's management. So far 21,000 have contributed ideas on evolution processes, product processing and new business lines.

So summarizing:

  1. The future of your company depends on your architecture value. That is, how to detect what your customers think it is worth, how you manage to generate that value and how you are able to recover as billing and profit.
  2. Forms of value creation on the internet that were valid 15 years ago, now they are no longer. We need new formulas.
  3. Do not cut and Ask your customers how think your company could generate more value for your business (if B2B) or how they think your company you might be more useful (if B2C) ... plus useful for loyalty, make this question is trendy… in addition to agile (takes a buzzword).

We're going talking

Montse.

What is the conversion rate of a website? and how to improve

He conversion ratio or a web site conversion rate is the percentage we get by dividing the number of goals met by the total number of visits to a website. So, this is the metric that measures the success of a website. English call conversion rate.

For example, if this month you've got 20 sales through your website and you had 600 visitors. Your conversion rate is 3.3% (a good conversion rate for e-commerce).

Or for example, if this month you got your users fill 100 forms asking for more information about your products and you had 1,500 hits, you have achieved a conversion ratio of 8.3% (not bad for a contact form, although it could be better).

For each type of website is a definition of conversion: get a download, a sale, a request for quote, book, newsletter registration, etc.

Why is it important to know the conversion rate of your website?

If all you are measuring how many visitors you have and do not create a funnel for various purposes, you can not improve the performance of your website. You'll spend only bring traffic to the site without realizing that instead of a funnel have a strainer that loses users everywhere ... and this is very expensive. In the long run you have serious financial problems.

There are 4 ways to increase sales of a website:

  1. Increasing the number of visits
  2. Improving the conversion
  3. Achieving an increase in the average ticket, ie getting your customers to buy more in each transaction.
  4. Increasing margins with which you work, ie, increasing prices (if your customers put up) or performing best buys (if your suppliers consenting).

The easiest is the second. If you improve the conversion rate with the same traffic, the same price and the same purchase price, you'll get better results.

How to calculate the conversion rate of your website?

The first thing you should decide is what to target or targets have your website. With this information creates a Funnel as you see along these lines and set up conversion goals in Google Analytics. Once configured you can start measuring the behavior of your users.

The next step is to start working the increase in conversion rate.

What conversion rate should have your website?

For e-commerce: Between 1% and 3%. May reach 5% to 9% if the product is very good and you're a super specialist in digital marketing. Also keep in mind the industry for which you work.

For a web contact form: Between 10% and 15%. When you do not ask money if you do not fill out a contact form is easier to obtain a good conversion, so it is normal to get up to 15% if the digital marketing is well done and really attract to your website only your target audience.

When you start, you do not normally get 0.5% but as you know your users and understanding how your business works online you improve this rate to achieve the expected results.

To help a little in determining what would be your correct ratio included this table that WordStream indicates ratios CTR by industry, ads in Adwords updated data 2018. Ojo, are not the conversion rates of the site are only ads ... but they can give you an idea of ​​the variations by type of industry.

If you want to read the whole article, you got here: conversion ratios by industry.

How to improve the conversion rate of a website?

There are many variables that affect the conversion of a website. But these are the main ones:

Download speed: If your website is slow people do not want to navigate it and go before've become. In addition Google will penalize you for being slower than normal and above will not have traffic ... so the download speed is important. Measure it on the Google tool: Google Speed ​​Test. Follow the personalized tips that will tell Google.

Usability: Make sure your users understand well what to do on your website and do not get lost along the way. Also check out what it's like sailing through a mobile. Google performs the test: Mobile optimization test and follow Google's advice if your page is not optimized.

Persuasion: verifies that your website indicate what to do and persuasive in your messages explaining what to solve the problem and how you will serve your product to the user. Segmented do so. That is, for each segment, a specific page, speaking from the point of view of the customer and vocabulary. Shows photos of your segment using your product to be reflected in them.

Transmission of trust: make sure your site is professional, with a design that reflects your brand values ​​and is user friendly. Encrypts the entire website to the user's browser indicates it is safe (used in https instead of http) And the user feels safe. If you are a member of an association or chamber of commerce, indicate also gives users peace of mind knowing that if they have a problem you can appeal to a higher entity. In the "about us" shows photos of yourself or your team generally stick up for your business conveys confidence.

Attracting well done: Obviously, if people entering your website is not your target audience can not convert them. Make sure the SEO and other techniques to attract visitors are well done.

With these 5 tips you should start increasing your conversion rate and therefore your billing.

I hope this article has been helpful.

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