This idea was developed by Alexander Osterwalder and is a practice that has become an exceptional and effective alternative to add value to business ideas.
How to apply the Canvas business model?
Canvas works as a template with small boxes that must be filled in with the necessary information in order to achieve strategic planning on the business idea to be developed.
Next I will show you the step by step of how to make your business model Canvas:
1. Market niche
In this table you must provide data that helps define the type of client of the company, since depending on the business idea you have, clients may vary. For example, if your company is clothing, it corresponds to the fashion niche or, if it is an agency, it corresponds to the communication niche. Having this data will help you better define your target customer and be much more assertive with your sales strategy.
2. Value proposal
This box is key, because here the focus is to think about the advantages that your product will have over the competition or, in other words, what will make it different from your competition. It could be a difference in price, service, unique feature or access to your product.
3. Channel
In this box your report will be the means of distributing the product. You have to consider whether it will be a physical or digital product, but always looking for the best way to deliver it to the customer.
4. Customer relationship
You must think about how the communication with the client will be and if it will be a personalized, automated or self-service treatment, always taking into account that the relationship of your client must go hand in hand with the value proposition and the message of your brand.
5. sources of income
The source of income from your product must be profitable for the company, therefore, your focus should not be on the price that you believe is the best for your product, but the price must be in accordance with the purchasing power of your buyer. That is precisely why this section goes hand in hand with your ideal client and your market niche.
6. key resources
For your business idea to work, you must take into account all the resources required and that will help you achieve it, whether they are legal records, personnel, equipment, etc. That is, everything your company needs for its proper functioning.
7. key activities
Your focus should be on all the actions you are going to take to make your value proposition effective: promotions, problem solving and product production, among others.
8. key relationships
In this case, the focus is on the partners or strategic alliances that will help you get the resources or carry out the other strategies.
9. cost structures
At this point you must determine the investment costs to apply your strategy and define if you are going to focus your cost structure based on the expenses of your product or service, on production, among others.
Canvas business model: the best marketing strategy
Now that you know what the Canvas business model is all about and how to use it as a strategy in Digital Marketing in brands or businesses, you cannot miss the opportunity to put it into practice and make your company take off towards success with a bang of effective ideas.
Do you dare to put it into practice?
More information at: www.arantxavico.com
