You have decided that you are going to start an online business, and of course, you have decided on what to sell. But have thought about what online business models and what business model will fit your business?
I guess your answer might be NO. So if I guessed right and your answer is NO, don’t worry you are on the right site; because in this post, we will discuss business models.
So I am sure that after reading this post, you would be able to decide what business model is right for you.
So let’s get started.
- The marketplace model. The marketplace model is an online business model that relies on bringing the demand and supply of a service, or product. When your business uses the marketplace model, it won’t hold any inventory; the suppliers will. Are you getting confused? Let me give you some examples: Uber provides transportation to customers, but they own no cars. That’s the same with Airbnb; they provide lodging, but they own no properties.
- The freemium model. Freemium is a coined word from Free and premium. The freemium model is a common online business model that almost all industries use. The concept of the freemium model is that you will have to make provision of free and paid services to your customers. The free service will contain the basic features while the premium service will contain the real advanced features.
- The on-demand model. The on-demand model is an online business model that relies on the current needs of their clients. The on-demand model depends solely on technology and its fast ability to provide services or goods at a jiffy. This model is all about providing fast and quality services wherever, whenever customers need it. Don’t get confused; let me give you a real life example. Soothe is a great example of this model. The soothe company has licensed massage therapist to visit the customer within an hour. The on-demand model has some similarities with the marketplace model.
- The subscription model. The subscription model is also a common online business model. This model is very convenient for you and the customer. Using this model, your customers don’t need to worry about paying for the same thing every month. As long as their subscription is on, they can get the services every day.
— online business step (@business_steps) 19 de junio de 2017