Loading...
Answers
MenuHey. I want to ask more about the business model on wxatthewmaps. Can the value-retention model work?
This question has no further details.
Answers
Wxatthewmaps is an interface that offers thinking automation. So, I believe before you are choosing a business-model you must understand what it is that you want to target. Often people confuse between value-retention and customer-retention. These two are closely related. When you enter the word “value, you will come across two business models. Value proposition development is an organizational approach to building in value to the customer experience. It is simply that by building a value proposition you will provide profitable and superior customer value.
You can read more here: https://www.fullsurge.com/blog/6-steps-to-creating-a-compelling-b2b-value-proposition
Creating a value-focused enterprise requires a fundamental rethink of the way things are organized and managed. These customers demand, and are willing to pay for, a sales effort that creates new value and provides additional benefits outside of the product.
You can read more here: https://openviewpartners.com/blog/enterprise-pricing-strategy-focus-on-value/
https://en.wikipedia.org/wiki/Value_proposition#Value_proposition_builder_model
Short answer is yes, it would work but choose wisely.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
It seems like "wxatthewmaps" might be a specific company or project related to maps or location-based services, but I don't have specific information on it. However, I can discuss the concept of a "value-retention model" in a general business context.
### Value-Retention Model
A value-retention model focuses on strategies that businesses employ to retain the value they create for their customers over time. This can be particularly relevant in subscription-based services, ongoing relationships with customers, or industries where customer retention is key.
#### Key Elements of a Value-Retention Model:
1. **Customer Experience:**
- **Quality of Service:** Ensuring consistent and high-quality service or product delivery.
- **Customer Support:** Providing excellent customer support to address issues promptly and maintain satisfaction.
2. **Continuous Improvement:**
- **Feedback Mechanisms:** Collecting feedback from customers to improve products or services.
- **Iterative Development:** Iterating and updating offerings based on customer needs and market changes.
3. **Building Loyalty:**
- **Customer Engagement:** Engaging with customers through personalized communications and loyalty programs.
- **Exclusive Offers:** Providing exclusive offers or benefits to long-term customers.
4. **Value Proposition:**
- **Clear Differentiation:** Clearly communicating unique value propositions that distinguish your business from competitors.
- **Continuous Innovation:** Introducing new features or improvements that add value and maintain customer interest.
### Can the Value-Retention Model Work?
The effectiveness of a value-retention model depends on several factors:
- **Industry and Market Dynamics:** Some industries naturally lend themselves to subscription or recurring revenue models where retention strategies are critical (e.g., software-as-a-service, telecommunications).
- **Customer Relationships:** Building strong relationships with customers through ongoing engagement and personalized experiences can enhance retention.
- **Competitive Landscape:** Understanding and adapting to competitors' strategies and market trends is crucial to maintaining a competitive edge.
- **Execution and Adaptation:** Implementing retention strategies effectively and being agile to adapt based on feedback and market changes.
In summary, yes, a value-retention model can work effectively if implemented with a clear understanding of customer needs, competitive dynamics, and a commitment to delivering ongoing value and excellent customer experiences. If "wxatthewmaps" relates specifically to location-based services or mapping, integrating a value-retention approach could involve continuously improving mapping data quality, enhancing user interface and features, and ensuring reliable customer support for users.
The value-retention model can definitely work, especially if it aligns with the core offerings of WatthewMaps. This model focuses on maintaining customer loyalty and ensuring that users find continuous value in the service over time.
To make it effective, you could consider strategies like regular updates, exclusive content, or community engagement that keeps users coming back.
If you have specific aspects of the business model or implementation in mind, feel free to share!
Related Questions
-
What companies have successfully implemented both B2B and B2C products or services? Which should I start with for the non-profit sector?
I would suggest the first question to ask is "what problem do I solve?" And of those people I solve problems for "who do I create the most value for?" In the non-profit world you need to add "How does my business help the non-profit run better and/or help the group the non-profit focuses on?" For example, if you've created a platform that drives donations, your company "has created a platform that helps you reach fundraising goals faster." What you don't want to do is market and sell to B2B and B2C audiences simultaneously. They have different ways of buying - a B2B audience needs to have their benefits quantified (using your thing makes me x amount more) - and it's extremely hard for a startup to be able to do both well. Better to start with one, execute really well and move into the other. Feel free to give me a call and we can dig into who your most valuable audience is.AV
-
I have this social media idea,but no coding skills. How do I get someone to do the coding (cant afford to pay them) and not give away half of my idea?
Dilip was very kind in his response. My answer might be a bit on the "tough love" side. But that's for you to decide. My intention, just for the record, is to help you (and those like you) on your path to success. And that starts with having a viable philosophy about entrepreneurial-ism and business. And I'm going to answer this because I get asked some form / version of this question very frequently from newcomers to entrepreneurial-ism. The scenario goes something like this: "I have a great idea. It's amazing, I love it, and I just KNOW it's gonna make me a ton of money. But I have no money right now so I can't afford to (fill in the blank with things like "to build it / create it / market it / etc" or "to hire the required staff needed to work in my business to sell it / develop it / etc"). And I don't want to tell anyone about my great idea because I'm worried someone will steal it and make MY million / billion dollars. But I can't afford to legally protect it either... So how do I launch without the skills to personally create the product AND no money to hire anyone else to do that either??" The answer is ... You don't. Look - let's be honest. All you have is an idea. Big deal. Really. I'm not saying it's not a good idea. I'm not saying that if properly executed it couldn't make you a million / billion dollars... But an idea is NOT a business. Nor is it an asset. Until you do some (very important) initial work - like creating a business model, doing customer development, creating a MVP, etc - all you really have is a dream. Right now your choices are: 1. Find someone with the skills or the money to develop your idea and sell them on WHY they should invest in you. And yes, this will mean giving up either a portion of the "ownership" or of future income or equity. And the more risk they have to take - the more equity they will want (and quite frankly be entitled to). 2. Learn how to code and build it yourself. MANY entrepreneurs without financial resources are still resourceful. They develop the skills needed to create what they don't have the money to pay someone else to do. 3. Get some cash so you can pay someone to do the coding. You'll probably have to have some knowledge of coding to direct the architecture of your idea. So you will likely still have to become knowledgeable even if its not you personally doing the coding. (This is not meant to be a comprehensive list of options... And I'm sure some of the other experts here on Clarity have others to add - and I hope they do) To wrap up - Here's my final tip to you that I hope you "get"... It's FAR more valuable to have an idea that a very specific hungry crowd is clamoring for right now - One that THEY would love and pay you for right now - Maybe even one they'd pre-order because they just have to have it - Versus YOU being in love with your own idea. [Notice I didn't say "an idea that some as-of-yet-undetermined market would probably love"] I wish you the best of luck moving forward.DB
-
How can I make a million dollars?
First, I agree with Chad in that the pure pursuit of money is unlikely to render anything significant. By using a monetary value as a primary goal, you're only diluting the real drivers of success: passion, crafting great customer experiences, building an incredible team and culture etc. That said, making $1m isn't that hard. :) I love this thinking by Amy Hoy and that's how I would go about making $1m: http://unicornfree.com/30x500. Using that logic, this is what I'd do: * To earn $1m in a year, I need to earn +- $80k a month. * To earn $80k a month, I need 1600 customers paying me $50 per month. * So what can I build that could attract 1600 people to pay me $50? * Or, what could I build that could attract 400 people to pay me $200 per month? This logic works on two drivers: * Cumulative revenue and growth. So SaaS works best in this regard, as you only need to focus on having new signups that are greater than your churn. * Building something that people are willing to (really) pay for and going for quality over quantity. If you are building something that sells for $5 pm, you'll need to sell at much higher volumes (which are tricky). In terms of doing that, these are the areas of my business that I would prioritize: 1. Build an awesome team that do things they're passionate about. 2. Prioritize customer experiences above anything else. Do everything in your power (regardless of whether it can't scale) to add value and help your customers. 3. Build a brand and reputation that has long-lasting value.AP
-
What is the best pricing (business model) to apply to a marketplace?
I like to separate your question into 2 sub-questions: #1 How do we determine which side to charge? #2 How much is the right amount to charge? On #1, my answer is that you can charge the side(s) for whom you add the most value. In your examples, Uber really solves a big problem for drivers, it's that they sit idle for a good part of the day, so are willing to pay a lot for new leads. (their alternative is no work) Consumers are charged more for the convenience of a private car but they are probably not so much willing to pay more for a taxi, even if they can hail one from their phones. For AirBnB, it's a mix, it's a way for landlords to monetize idle capacity which they are willing to pay for, but it's also a way for a renter to pay less than they would normally pay for a hotel. On #2 (how much), I like to triangulate a number of factors: - What's the maximum amount I can charge one side, while still being a good deal for them. - How much do I need to charge so that I can become profitable? (the economics are quite different if you charge 3% vs. 12%) - What are comparable services charging for substitutes/competitive offerings? I will just add that there is no formulaic way to determine pricing strategies (curated vs. open), and it's a lot more about what's the comparable and what the value delivered is. That's how I approached the question while deciding the business model at ProBueno.com (my startup)MR
-
As an accounting graduate with no money and no connections, how do I start my own consulting firm? And how do I get clIents?
STOP. DO NOT DO THIS.... I would never want help from someone like you. Don't get me wrong -- you aren't evil (that I know about) but you don't seem have any value that I could pay for. What would you be "consulting" a CEO like me about? How do you expect to make my business better when you don't have a clue about your own business? THAT'S THE TRUTH... Fuck the truth. If you want to get clients then you hustle -- every waking moment. You try an angle and fail and then try a different angle. You can't outsmart your way to bigger results. 2 plus 2 does not equal 4 -- it equals you going bankrupt. If you want to be successful then you need to exert massive amounts of effort to get off the ground. So get your ass out there and start asking everyone you meet: "What is that one big accounting question that's been bothering you for some time now? If I can't help you i'll buy you a cup of coffee" Then just go be a badass...DW
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.