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Business project canvas12/7/2023 The question is what resources are needed to ensure the success of the business. To avoid cluttering up the Business Model Canvas, only the most important revenue streams should be shown, so that you can understand the margin. The choice depends on the product, but also on the customer. One option is to sell the product directly, but subscriptions or licence fees are also possible. To do this, it is necessary to consider how revenue can be generated and how this can be done most effectively. These approaches should not be considered in isolation, but can be combined to create strong customer loyalty.įor a business to remain successful, it is important to generate revenue. Alternatively, collaborations can be established, such as a fashion house developing an exclusive collection with influencers. Customer loyalty can also be promoted by creating a community where people can meet and exchange ideas. In addition, discounts can be offered to prevent customers from switching to a cheaper provider. Although many processes in online retail are automated, it is important to provide good online support and send regular updates via email or social media to maintain customer contact. This ensures that questions are answered at all times and that the customer is personally informed and advised about products. Personal customer service is particularly valuable, whether through a hotline or a dedicated contact person. This can be achieved through excellent customer care, high customer satisfaction and regular contact. Once customers are using a product, it is important to keep them for the long term as this is more cost effective than acquiring new customers. A smooth and intuitive user experience during the purchase process can help lead the customer to conversion and ultimately the sale. It is crucial to make the purchase process as easy as possible to avoid potential abandonment. The question, however, is how to ensure that the customer actually buys the product after the advertising. If you want to target older people, you can use more traditional channels such as magazines or other print media. Targeted online advertising campaigns can be used to attract the attention of the young target group. The use of social media channels is particularly suitable for targeting younger people. This is a better way to engage customers and find out which medium they would respond most positively to a product. To find out which channels work best, you can conduct a survey of your target audience. Some channels work better than others and some are more cost effective. These channels can be both online and offline, either through your own distribution channels or through partnerships with distribution partners. This means thinking about the channels you will use to make customers aware of the product and how you will sell it. Once you know exactly which product you want to sell to which target group, you can turn your attention to how you are going to get it to the customer. with a unique design? It is important to answer the question of the unique selling proposition and to clarify what makes the company unique and why the customer should buy there. What is the best way to stand out from the crowd, e.g. You also need to work out how your offer differs from that of your competitors. You will also need to determine the price of the offer. This means explaining to the customer exactly what you have to offer, what the product's special features are and which of these are particularly important to the target group. What benefits and added value does the company promise that will convince the customer and thus contribute to the company's success? To answer these questions, it is crucial to formulate the offer as precisely as possible. This key factor is about why the customer should buy a product from this company in particular. It is also important to identify which of these groups are the most valuable and generate the most revenue in order to focus accordingly. This can create different customer groups that require different strategies. It is also important to consider whether it is a one-off purchase, a regular purchase or a subscription, as these will appeal to different customers. The customer's age, background and income are important factors. First, the company needs to analyse the potential customers to find out who they are. The question is what strategy is needed to get the customer to accept an offer. This key factor is about the customer - who they are and how to develop the best strategy to attract and retain them. For this purpose, the three areas are divided into nine elements. Every company should be aware of each of them before proceeding with the project. The key factors represent a contribution that can lead the company to success.
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