From the freemium business model to an aggregation business model, the 21st century digital economy has shown that serving customers well may not necessarily provide sustainability for a company unless the firms actively find ways to capture value in the process. It sounds obvious, but many media and e-commerce companies have gone bankrupt, despite improving customer experiences through digital channels, simply because they neglected to capture value.
Is Your Startup Doing Everything It Can to Capture Value?
More and more startups are popping up, offering customers new services and products that save them money. And while their offerings are attractive, they have one shortfall: They don’t capture value for the company.
Fortunately, there is a strategic model that startups can follow that allows them to focus on service and capture value at the same time — double play. Building double play into a startup operation means that a startup understands the current positioning it has and then find ways to capture extra value in that process. In double play, there is a high level of dependency within the business units, making it possible to create a virtuoso circle of value capture within a symbiotic relationship. There are three core phases in creating double play: discovering the best product your business can offer, identifying value points in your company, and then monetizing that value.