Business model is a concept that has attracted attention of late. A business model is composed of an offering model (target market, value proposition, channel, customer bonding strategy and revenue model) and an operating model (value chain, resources and processes, complementors, configuration and cost).
Today it is no longer adequate for a functional manager to be a specialist. He/she must understand the bigger picture: both the offering and the operating model of the business model concept. The offering model is where revenues can be sourced while the operating model is where activities and infrastructures will result in cost. An organization simply needs to view these framework via these two lenses when they want to increase profit and growth for their firm.
In 2004, former Johnson & Johnson ASEAN president Ding Salvador and myself launched the Markprof Foundation Inc. We wanted to do our share in training future marketing leaders of the Philippines. We wanted to introduce our own methodologies and systems borne out of our personal experiences and form an exclusive networking club in marketing with like-minded individuals. We also wanted to give equal chance to outstanding student leaders whose parents did not have the means to enroll them in expensive upscale schools, with Markprof acting as a resume equalizer. Read more
A step to creating customer bonding strategy is to ensure your target market knows you (brand awareness) and recognizes you for the right reason (brand association). Without awareness, trial and repeat purchase which are the two types of sales, won’t happen.
The Philippines was hit by Yolanda, the world’s biggest typhoon to date, on November 8, 2013. No less than 6,000 people have died with many still unaccounted for or still can’t be identified. Billionaire taipans like Henry Sy (SM group) and Lucio Tan (Asia Brewery Group) committed P100 million each to help victims. Different groups and individuals raised funds, distributed relief goods and provided medical care. Definitely, their help will make a difference in how people perceive them and their companies. Read more
Our brand created a Facebook page and after one year, was able to hit 100,000 fans. Our Twitter on the other hand, is not as well managed as we have less than 5,000 followers after one year. Now that I have heard Instagram is the in-thing, we are thinking of setting up our IG page for our brand. However, it has been getting to be quite unwieldy for us as it is demanding a lot of our time and our agency’s to create content for so many social sites. Do we really have to be in all sites to ensure we are where our clients are if they look for us? – anonymous
The quick answer to your question is No. You do not have to be present in all social platforms. It is like saying that you may have a potential customer in a far flung area in Mindanao so you want to set up a physical store there. You will end up having presence everywhere, but not where it makes sense. Note that what is most important is to know first where your target audiences converge, before determining where to have brand presence. If you feel confident or you have data to tell you that your target audience is very much on social media, then that is the time you look at the various social websites, and decide on where you would want to have brand presence.
The most important thing to determine however, is the role you want each social media platform to play for your brand. I have seen too many brands copy and pasting the content they have on Facebook to their Twitter and Instagram accounts. This tells me that they are just doing social media marketing for the sake of doing it, without any clear purpose or direction in mind. However, that is why most branded social platforms do not get traction, because there is no real reason for people to follow a branded social media page. Think about it: have you really followed a brand on social media because you wanted to be marketed to, or are you expecting something from them? Read more
It started when I decided to work from home one weekday in 2013. Before the end of the day, I posted a Facebook message that I looked forward to have some quiet time once a week to read, exchange ideas, have coffee with friends and maybe meet new ones from different fields. Jeffrey Manhilot of Reckitt was the first to sign up for coffee, followed then by nearly a hundred of my Facebook friends who volunteered in succession. I was both flattered and overwhelmed. I didn’t know how to prioritize the sequence. I reflected for months with my wife Chiqui.
Then an idea was born. We figured each of those who signed up might have similar needs such as mine. What if instead of having coffee one-on-one, we invite them to a larger “coffee-time” set-up, or a dinner no less? What if instead of just us meeting, they get together with other people as well, a networking gathering of people from different industries, different backgrounds? What if instead of just two people exchanging ideas, we collectively brainstorm using the power of diversity to solve and share solutions? Eureka, the result was White Space Club.
With help from our friends such as Cherry Caluya and Jonathan Joson, we tested the concept on November 14, 2013. Islands Souvenirs Founder Jay Aldeguer put up with our experiment as speaker on his intended Islands Taxi. We have since then adjusted the format, and became ready to roll it out with a “fixed” format in January 2014. Before the end of our first year, we launched two venues – Makati on Oct. 2 and the original Ortigas on Oct. 9, 2014 as more and more people became curious and attended.
White Space Club is different in many aspects Read more