Business Model v Business Strategy v Business Plan

24 11 2012

I had the pleasure this week of working with an internet start-up company to help them focus on what they need to do to grow the company. The real focus of the workshop was to help them understand their Business Model. If the model was clear then planning would become clearer and the strategy would be verified.

We used the Business Model Canvas created by Alex Osterwalder. The nine blocks of the Canvas gave us a great structure to keep the discussion focused. The key points I took from the day include:

  1. A logical journey from segmentation and value proposition through to communication channels to resources. This allowed us to move through the workshop in a structured way and, as the facilitator, I found it very easy to keep the discussion flowing.
  2. Excellent that it all led to revenue. In our pre-workshop preparation the point was made that many businesses failed because they failed to understand where the revenue was coming from. This process was truly commercial because all roads led to revenue.

In addition, in the de-brief afterwards, the suggestion was made that you could do a canvas for your main competitors or possibly for a specific market segmentation. One to note.

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Media 360 Conference via Twitter

23 11 2012

I could not attend the Media 360 conference this week but did follow it on Twitter. I thought it might be interesting to summarise the views of the Twitterati under a few headings.

General comments

  1. The decisions you make now will determine how successful your brand will be when the recession ends
  2. Short term decisions to cut [marketing] spend leads to long-term damage to your market share
  3. Aside from numbers, the biggest strength of radio is the one-to-one relationship people have with it
  4. Deadlines work on ads. Creates a sense of urgency and spurs people into action
  5. Deliver a strong call to action and focus on the goal

Research

  1. Invest in good research and monitoring to see what parts of your ad campaign work
  2. Don’t trust research (this from the head of a leading market research company)

Digital

  1. Digital has a place in all marketing plans
  2. Brands that are winning in the digital world are those that are open to participation
  3. Ensure that your website is accessible through all devices
  4. Direct mail and digital work well together
  5. SEO your website and use mobile search
  6. Search is the bridge between traditional and digital advertising
  7. Digital will drive the recovery of media

Social

  1. All about social media for 15-24 year olds
  2. 40% of all Tweets during peak viewing times are TV related
  3. Implement social listening
  4. Social content is NOT advertising
  5. Create a content schedule for social media

Mobile

  1. Mobile is a key area of growth, RTE say they see 60% of their traffic coming via this channel
  2. Don’t use your desktop as a digital frame of reference, use mobile