Let’s Talk about the Canvas - Center for Economic Growth · 2020-01-17 · Let’s Talk about the...

Let’s Talk about the Canvas

The Business Model Canvas is a great way to capture the important aspects of your business, and through customer interviews, be sure that your assumptions are correct.

Part 2Channels

Customer Relationships

Keep building the right side of the canvas

What is a Channel?

A channel defines how your customers want to be reached.

Don’t be afraid to ask your customers!!!! They know best.

Channels• HOW DOES EACH CUSTOMER SEGMENT WANT TO BE

REACHED??

• How are competitors reaching them now?

• Which methods work best? Which are most cost-efficient?

• How are we integrating them with customer routines?

Some Channel Examples

• Direct sales – Ex. Etsy, Girls Scout Cookies

• Distributors/Resellers – Ex. Alibaba, Zulily

• Retailers – Ex. Mom & Pop shops, boutiques

• Mass Merchandisers – Ex. Amazon, WalMart

Customer Relationships

How are we going to

KEEP and

GROW our customer base?

Need more on this

Credit: guides.co

How will you attract (GET) customers?

FREE• Blogs• Brochures• Product reviews

PAID• Ads• Promotions

How will you hold onto (KEEP) customers?

• Loyalty programs• Product updates• Customer surveys• Customer check-in calls

How will you increase (GROW) your customer base?

• Upselling• Cross-selling• Referrals• Unbundling your package

Customer Segment #3

Customer Segment #2

Customer Segment #1

Each customer segment may have a different value proposition, way of reaching them and way of keeping them as a customer.

IBM , Square, SalesForce.com

McDonalds, Xbox, NetFlix

Will you be selling to other business?

Or to consumers?

Prepared for the high school student audience by

Dr. Clint Ballinger

Executive Entrepreneur in Residence,Severino Center for Technological Entrepreneurship

And Lecturer, Lally School of Management, RPI

Eship.rpi.edu

Let’s Talk about the Canvas - Center for Economic Growth · 2020-01-17 · Let’s Talk about the...

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