How To Successfully Start a Profitable Business

Here are free four templates to help you transforming your idea into a profitable business.

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The Ultimate Productivity Definition To Reach Life’s Targets

You have probably heard how the word Productivity is the common thread for success. Without it, you will be blocked in your tasks, moreover no chances to offer valuable outputs.

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What is a Business Model Canvas-CUSTOMER RELATIONSHIPS

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What is a Business Model Canvas-CHANNELS

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What is a Business Model Canvas Values Propositions

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What is a Business Model Canvas-CUSTOMER RELATIONSHIPS

BLOCK N°4: Customer Relationships

 

The relationships block covers which kind of relationships a company wants to make with a precise customers segment.
There are different motivations that can drive the type of the Customer Relationships, such as:

• Customer acquisition
• Customer retention
• Boosting sales (Up Selling)

Below you can find a list of several categories of Customer Relationships:

• Personal assistance: Based on human interaction;
• Dedicated personal assistance: Each customer served by a dedicated person;
• Self-service: Customers help themselves by a set of tools provided by the company;
• Automated services: An automated processes can recognise the characteristics and the needs of customers and offers them adequate services;
• Communities: through the online communities, customers and companies can connect and exchange knowledge;
• Co-creation: Letting customers give their touch such as design recommendation, content creation..

Note: These categories may co-exist with a specific Customer segment.

The Customer Relationship used highly affect the whole customer experience.

Example: iPod Customer Relationships

The Customer Relationships applied to the iPod Business model is the Personal assistance category. On of the best stores in the world is the Apple store with its top revenue per square $4 000 and the highly performant promoters who recognise the importance of the human interaction.

Thus, Apple stores offer to their customers the best users experience.

BLOCK N°5: Revenue Streams

 

What is a Business Model Canvas-CHANNELS

BLOCK N°3: Channels

The Channel building block is the tunnel connecting the Value Propositions to the Customers Segments.

A key feature of your relationship with your customers. Moreover is crucial in the customer experience.

Channels serve a number of functions, including:

1. Awareness: Introducing company’s products and services to customers;
2. Evaluate: Helping customers test a company’s ValueProposition;
3. Purchase: Letting customers buy specific products and services;
4. Delivery: Delivering a Value Proposition to customers;
5. Support: Providing post-purchase customer support;
6. Feedback: Getting feedback about the Value Proposition;

Thus, we distinguish five phases in each channel:

Moreover, we can make a distinction between direct and indirect channels, as well as between owned and partners channels:

Implementing the exact combination of channels to reach customers is important to launch the values propositions in the market.

Example: iPod Channels

Channels used to reach iPod customers are:

• Apple Stores
• Web: Apple.com
• Partner stores

BLOCK N°3: Customer Relationships