Digital economy: the new business business models

One of the most important changes in the global economy has been the entry and positioning of new forms of connection, both for companies and users, and from there different and novel relationship systems are configured to satisfy the offer and constant demand that is created day by day.

Talking about business business models in the new economy could be a not so innovative topic, but if we add the digital component to this approach, the scenario already changes. Let's see why.

When other business formats begin to be established in digital spaces, a work dynamic is generated by brands (companies) to capture the attention of users (where many are just prospects) and customers (not all are recurring). Today it is not possible to think that traditional business models are the answer to the high demand of the user, who is increasingly skeptical of what they have and seeks to satisfy what they need and not what they offer.

Digital models

Today we see how non-traditional models are setting the tone and the digital transformation of many companies. This is leading the market and the economy to evolve, giving a competitive advantage to the digital age and its advances.

A digital business model is "the form of digital monetization that a company chooses to align and meet its business objectives, all from a clear and logical business planning and strategy supported by a technological base that allows them to execute their purpose", according to Sebastián Grisales; Digital Strategy and Business Consultant at Multiplica Colombia.

The models are not chosen at random, nor should they be thought from the perspective of the most used and the most relevant in the market. Each brand, according to its business core and its installed capacities, must choose which is the best model to integrate into its commercial and brand strategy, and on this create a logical and coherent work plan that allows judicious and clear execution. of what is going to be done, how, when and most importantly: what for.

Some types of current business models of greater implementation in the market:

Freemium: scalable model of services. It goes from basic to premium. For example, Linkedin

E-commerce: online payment platform for your own products or services that integrates a payment gateway. For example, Totto.

Marketplace: value proposition that integrates multi-brands under the same platform. For example, Mercado libre and OLX.

P2P: exchange of products or services that it is difficult for others to have. For example, Airbnb.

Leads: acquisition of leads (prospective users) for different business purposes. For example, Multiply, Nielsen.

E-learning: payment model for virtual education services. For example, Platzi.

The user: the center of the new models

The user is the center of gravity of everything, why? Because today you cannot think of a value proposition by companies without understanding that the user no longer responds to the logic of taking what exists, but rather creates (from his need) and looks for who or who can satisfy him. It is he who chooses and makes the decision, not the market. Which means a paradigm shift.

Brands have greatly evolved their digital business power, so much so that they have managed to internalize, for the most part, that if they do not engage quickly with the digital demand of users (delivery of digital products and services) they run the risk of being left behind in the conquest of his heart, and of course, of his transactions and purchasing power.

Be in control

Let the user do and take control of what he wants, how he wants it and when he wants it. The priority of the brand is not to tie the user, it is to ensure that in the end he has what he was looking for in the best possible way. That is why a brand, regardless of the digital business model that is working to achieve conversions, must at least comply with the following recommendations if it wants its user / customer to be the one who decides for its offer:

Reduce the uncertainty of not finding what you are looking for

Provide full access from any device

Ensure the navigability and usability of your website

Give you confidence and security in your transactions

Protect your data

Deliver the information you need to measure (transparency)

Get to know it better than anyone else (custom customization)

Digital business models are not a straitjacket, but neither is it an experiment in which brands will have to change their chosen model. This starts from a deep knowledge of the business and environment, and in turn, from an excellent research and construction of digital audiences and the choice of work channels to achieve the brand objective.

The great success of business business models is, and always will be, in the brand strategy and alignment with the objectives and goals of the company.