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Business Model Innovation – Cataloging Strategies
Introduction
This blog post will be a long-running post that catalogs strategies for business model innovation.
As Alexander Osterwalder points out, Business Models are actually complex beasts that are not just about a value proposition, or a strategy for making money and beating the competition, but have various components around the Customer, the Value Proposition, Channels and Delivery Models, the Operating Model and key Activities, Core Competencies, Systems and Infrastructure, etc. Put another way, Business Models aren’t just about strategy, they’re also about systems and processes to operationalize that strategy.
Resources
There are some excellent resources on the web that catalog strategies for business model innovation. Here are a (very) few:
I plan to update this list over time.
Business Model Innovation Strategies
So here’s a super-short list, that I hope to evolve over time:
- Be a Platform
- Crowdsourcing
- Open Business Models
- Open Data strategies
- Fremium strategies
- Premium Product
- Customer Intimacy
- Low-cost Producer
- Long-tail strategies
OK, that should be enough to get started. I’ll elaborate on this list soon, providing additional examples, as well as links to additional resources and case studies. I suspect the “shape” of this catalog could become rather large and complex – but, it has to start somewhere. So this post begins the journey.
glenn
Hyperlocal – Core Dimensions (Part 2)
This is the third in a series of posts on key dimensions of Hyperlocal. Other posts in this series are:
In the previous post, we explored the dimensions of Hyperlocal News and Commerce. In this post, we will explore Local Advertising and Hyperlocal Community.
Local Advertising
Local Advertising is definitely a key part of Local Business/Commerce, which I explored in the previous post. But local advertising can also be embedded within Local News and Local Community portals. Thus I’ve chose to deal with it as a separate topic.
Insights into Local/Hyperlocal Advertising
First off, I have a few favorite resources for keeping informed in the Local/Hyperlocal advertising space. These are:
- Borrell Associates blog
- BIA/Kelsey blog
- Screenwerk – Greg Sterling’s blog
Borrell Associates – headed up by CEO Gordon Borrell – also sponsors the Local Online Advertising Conference, which was held in New York city early this month.
Jeff Jarvis also frequently has compelling insights into Advertising strategies for Local News Media. For example, see his recent blog posts from February 2010: Stop selling scarcity and NewBizNews: What ad sales people hear.
Search Engine Marketing/SEO for SMEs
Obviously, SEM strategies are critical for any local online business on the web. My top go-to resources for local SEM/SEO insights are:
- Small Business Search Marketing by Matt McGee
- SEO by the Sea – Bill Slawski’s blog
- Understanding Google Maps and Local Search – Mike Blumenthal’s blog
- Chris Silver Smith
- The Noisy Channel – Daniel Tunkelang’s blog
- David Mihm
- Local SEO Guide – Andrew Shotland’s blog
- Search Engine Land
- John Battelle’s Searchblog
Big Ad Networks
On the solution provider front, you have the big ad networks around Search Engine marketing, some of which include:
Local Advertising Media/Platforms
A number of application/media providers – many with a mobile focus – are positioned to be significant players, including:
Niche/Regional-based Ad Networks and Services
Increasingly, however, you also have your niche/regional-based ad networks and service providers. Here’s some examples:
- Adify
- Clickable
- GrowthSpur
- ReachLocal
- Yodle
- WebVisible
- Spot Runner
- Sacremento Press
- Village Voice Media
Bargains and Deals
Numerous vendors provide applications to notify consumers of bargains and deals in the local vicinity, including:
Additional Local Advertising Solution Providers
One more advertising solution provider I’ll mention:
So there you have it, a sampling of Local Advertising solution providers. Local Advertising should be a very interesting space to watch in 2010, particularly when it comes to mobile, location-based tools and technologies.
Local Community
The Local Community view of HyperLocal is about information and events of interest to the Community. Information and Events around the Local Community may be contributed by businesses, community organizations, or municipal governmental sources, or it may be user-generated content contributed by the Community.
When you talk Community, by definition you are talking about Social Networks. Therefore, you have to consider the various social networking platforms, and particularly those that host large social graphs. I’m thinking here most specifically of:
Many of the HyperLocal News platforms are also positioning themselves as Local Community platforms. For example:
You also have open city initiatives/discussions such as those initiated by:
For additional information on open city initiatives, see here.
Then there are do-it-yourself City initiatives and tools, for example:
You have Local Event platforms, such as:
And finally, organizational and community tools around local causes. See:
- The Extraordinaries, also see here
- Localgiving
This is really just a very small sampling of possible ways/platforms for organizing people within a geographic community. I look for a lot of innovation in this space over the next several years.
HyperLocal Business Models
This viewpoint explores various ways to make a HyperLocal business commercially viable. There’s some great pioneering work being done by Jeff Jarvis and the folks at CUNY here – see the New Business Models for News Project at CUNY, and Jarvis’ overview of the work on HyperLocal business models here.
More on this to come.
End of Business as Usual - Glenn's blog 