September 9, 2020
September 9, 2020
The world is changing again. In fact, it is always changing, but the business models that were valid in the 2.0 era, that of social networks, the first decade of the 2000s, are now not robust enough to retain today's customers, who are much more sophisticated and knowledgeable about online tools and the possibilities of the internet. We have no choice but to evolve.
- The importance of generating value in the business model
- How do we generated value for a customer 10 years ago?
- How do we generate value now?
- How do you know what customers consider value?
- Examples of value co-creation
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 The world is changing again. In fact, it is always changing, but the business models that were valid in the 2.0 era, that of social networks, the first decade of the 2000s, are now not robust enough to retain today's customers, who are much more sophisticated and knowledgeable about online tools and the possibilities of the internet. We have no choice but to evolve.
The world is changing again. In fact, it is always changing, but the business models that were valid in the 2.0 era, that of social networks, the first decade of the 2000s, are now not robust enough to retain today's customers, who are much more sophisticated and knowledgeable about online tools and the possibilities of the internet. We have no choice but to evolve. 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.
- 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.
- Forms of value creation on the internet that were valid 15 years ago, now they are no longer. We need new formulas.
- 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).
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