Lean Business Model Canvas
- Describes how you will generate revenue
- pricing structure
- packages -recurring services (maintenance/support)
- upsells
Table of Contents
Business Model
Creating a business model involves identifying the key elements that define how a business creates, delivers, and captures value. Here are the primary components that typically go into creating a business model:
Value Proposition: A value proposition is the unique value that a business offers to its customers. It defines the products or services that will be offered, the target customer segments, and the key benefits that the business provides to those customers.
- All-benefits: a type of value proposition that involves identifying and promoting all the benefits of a product or service to customer segments. with little regard for the competition or any real insight into what the customer really wants or needs.
- Points-of-difference: a type of value proposition that focuses on the product or service relative to the competition and how the offering is different from others on the market.
- Resonating-focus: a type of value proposition that describes why people will really like your product and focuses on the customers and what they really need and value.
- Product-market fit: an offering that meets the needs of customers.
Revenue Model: A revenue model defines how a business will generate revenue. It may involve selling products or services, charging subscription fees, or generating revenue through advertising or other means.
Cost Structure: A cost structure defines the costs associated with operating the business. This includes the cost of producing and delivering products or services, overhead costs, and other expenses.
Customer Segments: Customer segments define the different groups of customers that the business targets. This may include demographic or behavioral characteristics, such as age, income, or purchasing behavior.
Channels: Channels define the methods that a business uses to reach and interact with customers. This may include online channels, such as social media or email marketing, as well as offline channels, such as retail stores or direct sales.
Key Partners: Key partners are the external organizations or individuals that a business relies on to operate effectively. This may include suppliers, distributors, or other strategic partners.
Key Activities: Key activities are the core operations that a business performs to create and deliver value. This may include manufacturing, marketing, or customer service.
Key Resources: Key resources are the assets that a business needs to operate effectively. This may include physical resources, such as manufacturing facilities, or intangible resources, such as intellectual property.
Overall, creating a business model involves identifying the key components that define how a business will create and capture value. By considering these elements and developing a comprehensive business model, a business can better understand its market, define its strategy, and achieve success.
Defining a Digital Agency
A full-service digital marketing agency offers clients a more comprehensive array of marketing services. They perform marketing consulting and provide creative, strategic, and technical development of marketing products and services. The services they provide are more proactive in marketing such as: **Apps **Get the right tools for customers to interact and engage with your business. In an ever-growing online society, this is essential for a future filled with growth. (App builder software is a cloud-based tool that helps the digital agency build fully-functional business apps quickly). **SEM **When people search for a term related to your business, a digital agency helps put you on the page with paid advertising. This makes you discoverable and finds new leads. **SEO **Search engine optimization is a powerful strategy for online growth. With content that adds value to your audience, you build authority and become discoverable through organic searches. **Social media marketing **Today, people want to believe in something bigger than the product. They want to interact with a brand and know what they believe in. Social media is effective at increasing your reach and building loyalty. It's also great for generating leads and sales. A digital agency helps you optimize your strategy. **Content creation **Creating articles, images, videos, and other forms of content establishes you as an authority in your industry, adds value to customers and audiences, and builds a stronger brand. People are more likely to buy from you when they feel like you have given them something of value first. **Online lead generation **Your lifeblood depends on sales and you can only get sales with customers. Digital agencies bring them right to your door. **Brand development **The only thing that can truly give you an advantage in a competitive market is a brand. Strong brands create long-lasting companies. They aren't easy to develop without the right partners and plan. An expert digital agency can get you there. **Website design and development **Would you walk into a bookstore if the windows were broken and the floor was dirty? Probably not. Digital agencies make sure your website is pleasant, easy-to-use, and practical for both parties. **Media campaigns **Digital agencies create professional media campaigns to build your brand and sell your product. With their expertise, you can expect good results. **Video and email marketing **The two most powerful online marketing mediums become even more effective with a great team at its helm. **Mobile campaigns **When most people use their phone than a computer, mobile campaigns are essential for any successful brand.
When it comes to omnichannel marketing, a digital agency should be able to manage each component.
"Omnichannel strategies that display accurate in-stock info at nearby stores, drive an 80% higher rate of incremental store visits."
- Google Incrementality Study
Defining a Creative Agency
In the simplest terms, you can view a creative agency as the team that creates all the content and visual elements of your brand. Think of all the design that goes into marketing a product, service, or company. They include items such as:
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**Logos **This image quickly represents who you are and makes you identifiable.
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**Color schemes **Colors affect moods and experiences. They also need to be consistent for a brand.
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**Banners **Banners catch the attention of customers and potential leads.
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**Copywriting **Copy will determine if you make the sale or not. It also makes a big part of your brand voice.
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**Email newsletter design **As people scroll through their emails, yours should be recognizable so they stop.
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**Infographics **These are great for sharing data and other forms of information in an easily digestible format.
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**Packaging design **Packaging is part of the experience. What customers feel will affect your perceived value.
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**Videos **Videos are highly engaging and connect strongly with viewers.
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**TV Ads **In a medium with lots of noise, a great agency knows how to capture attention.
Usually, creative agencies are brand experts who create all the graphics and visual designs that define a product.
There is no one-size-fits-all strategy for choosing a creative digital agency. It is crucial to review numerous portfolios and teams in order to ensure that their vision aligns with your brand identity and can showcase your products in the best possible way because every creative digital agency has its unique style and expertise.
The Definitions Have Blurred
A full-service digital agency combines traditional marketing with digital marketing. They can do it all from media buying and OOH advertising to email and social media campaigns. Each of these marketing segments includes the necessary elements of design for print or digital media.
However, there is no perfect definition of what a creative digital agency can or cannot do. Some creative agencies deliver entire websites from start to finish, and some digital agencies create total brand designs along with marketing strategies. Any digital marketing creative agency has its strength and specializations, so don't hire based purely based on a company's title.
A full-service digital agency has the staff to implement a multi-channel marketing strategy and manage your advertising campaigns. They help you reach your target market in multiple advertising channels and multiple devices. They will also help you come up with beautiful ad creatives because they usually have one or more graphic designers on staff. A good example is the exclusive eventige program 360BrandFuel, which includes a personalized mix of marketing services that include everything from technical support and consulting to design and social media management.
However, don't make assumptions about their expertise. Research a digital agency's services and expertise before hiring them. It is important to ensure that the creative marketing agency can align with your company's goals and can capture your brand identity.
Which Agency Is Better for You?
Unless you only need some graphics, a logo, or business cards designed, digital agencies have more to offer. They deliver a range of multi-disciplinary solutions for the entire customer journey, including sales and marketing, online shopping, subscription services, billing, and delivery. They combine strategic thinking, technical resources, with brand building based on the client's objectives.
That said, most digital agencies have one or more designers on staff, making a complete package.
Converting Ones and Zeros into Money
It's a digital world with over 1.8 billion people shopping online and 25% of online shoppers buying every week. To tap into this digital world and grab your share of eCommerce dollars, do you hire a digital agency or a creative agency?
Online advertising has created a shift to digital agencies by advertisers. A digital agency focuses more on marketing strategy and execution. A creative agency focuses more on brand design, content creation, and everything that revolves around creating a brand image. If you want to hire just one company to provide all of those services, the best strategy would be to look for a full-service digital marketing creative agency.
The find the best creative digital agency for your business, interview various marketing agencies to see who aligns best with your goals and needs. Be sure they keep your brand integrity consistent in every channel where you decide to advertise.
The best place to start searching for your digital agency is with Eventige. We are full-service and offer professional creative design as well. Eventige marketing packages are specifically designed to strengthen your brand identity, increase sales, and help your business reach its full potential. Contact us with your list of questions, and we'll show you how well we can align with your brand.