During these times, corporate pioneers need to reinvent their business model to get a handle on the changes in a rapidly-changing environment. However, not many organizations have managed to accomplish this.
New trends for big brands: Business Model Reinvention
Most of the popular companies try to make new business models to win new customers and create new ones in the marketplaces, such as Amazon, Apple, Starbucks, Google and eDreams.
Amazon.de and eDreams have reinvented their business model in a similar way. Both of them started with the standard models and decided to grow their customers and markets with new types of business models.
Amazon, the “everything store” company, has constantly made new plans of actions for new developing markets; from digital books, cloud administrations, streaming media to mechanical technology, and later to its more recent foray into healthcare. eDreams; however, decided to grow by opening tourism to new countries and making collaborations with recognized brands.
Google is a definitive reference for searches. Google My Business account guarantees that, when somebody looks up a company on Google Search and Google Maps, they find it. When they do, that search result makes suggestions on the best way to find that company, regardless of whether it is web-based if it possesses a physical location.
The connection between innovation and new business models
Everybody knows how popular Netflix has been, and this has been the case for a while. People choose to use Netflix due to its appeal to large masses. However, Disney, which has been in the entertainment business for 95 years, brought in a new playing field. The graphics of the audience suddenly changed with Disney’s new business model when it entered the online streaming market with Disney Plus.
When we discuss telecommunication business models, Vodafone and Apple are exemplary brands. Apple made a Business Chat model, which denotes similarities with the Blackberry Messenger platform BBM, in that only Apple users can use this application. On the same level, Vodafone Business has the same qualifications as Apple and BBM. Needless to say that these types of platforms find their most efficient use in the business world, in which people can easily connect on the same platform, especially within a company.
Another note-worthy example is that of Ebuero.de, a German company which sets up business centers as well as business addresses. With the technology available nowadays, companies are less likely to have a personal secretary for members of staff, lest they are in higher ranking positions. Taking this into account, Ebuero.de ensures secretarial services remotely and round-the-clock, thus allowing companies to be continuously accessible in a cost-effective way.
Your money and your health is safe here: N26 Bank Business Model
COVID-19 has helped us understand that our health is our first priority. N26 offers the opportunity to use your money while at the same time protecting your health. The business model they defined is a technology-first approach to banking; no physical branches, accessible services, free accounts and a transparent fee structure. N26 Bank’s business model is one which provides convenience for individuals whose daily lives are busy.