whats my bmi march 2010

What’s my BMI? © 2010 andycollyer.comWhat’s my BMI? © 2010 andycollyer.com

What’s my BMI?

Issue 1 March 2010

What’s my BMI? © 2010 andycollyer.com

Not your body mass index Your Business Model Innovation!!!!Welcome to the first monthly edition of what’s my BMI. In the spirit of innovation, there are a few differences with this ‘newsletter’, namely –

• This newsletter is hosted on slideshare

• It will be hosted on youtube with an audio component.

• Downstream, we’ll include video.• It’s more about ideas than it is

about news – news has happened and ideas are yet to be born

• It will evolve with every edition

Right, let’s get into it – what we’re talking about here is innovating your business model.

In edition we’ll focus on one of the nine key building blocks of your business model and we’ll tackle it from 3 angles –

• A bit of science – what you need to know about this building block

• An example of how another organisation has been innovative in this area

• A guide on what to do next

This month, we’re talking about customer channels

SOPHIE RUSSELL EDITOR

Lead generation is everything – it’s not acceptable if you don’t know what works

The 5 Channel phases

Awareness – how are we creating awareness (marketing)Evaluation- how do we help our customer assess our value proposition?Purchase – how do we enable our customers to purchase specific products or services?Delivery – not boxes and trucks – how do we deliver on our value proposition?After sales – what do we do after the transaction, to support our customer?


What are channels?Channels are the ways that we reach our customer segment.

Questions to ask yourself and of your business are –

o Through which channels do our customers want to be reached?

o How do we currently connect with our customer and does it match the answer to question 1?

o If we know the channels, are they integrated and functioning?

o Which are the most cost effective and cost efficient channels we do use or could use?

o How, if at all, do we integrate these with our customers routines?

Effectively, you’re looking internally at what you’re currently doing and you should look externally to find out what you could be doing.

I don’t hold with the philosophy of A,B and C class clients as a rule. If you’ve gone through the exercise of defining your target customer, then you have to ensure that you’re using the best channels

Exercise1. Identify your top 20 customers, by whatever

metric you choose to be important. Consider –1. Ease of doing business2. Profitability3. Lifetime value of the client4. Referral generation

2. Put them in column one by name and in column 2 rate them from 1-5 on your metrics scale (you can download the sheet from our tool kit on the website)

3. Think hard and establish how the customer found out about you – if you can’t work it out, ask them!

4. Work out approximately what the customer is worth to you per annum. Put the figure in the appropriate column.

5. Now the science –1. What percentage of your annual

turnover do these customers provide?2. What’s the most effective channel?3. When did last connect with these

customers outside of a business transaction?


Innovation : channels

Personalised phone applicationChannel phase : evaluation• Specific to your business• Low cost• Incorporates maps• Include FAQ’s• Point to website• Viral• Makes your business part of the fastest growing industry – apps &

gadgets• Available for iphone/blackberry/android• From as little as $29 pm

Follow our story via the website – www.andycollyer.com/iphoneappsSkype : andycollyer