Business Model Canvas Focus
Value Proposition
The premise of this business concept is that it acts as a useful service to small online vintage fashion retailers whom either do not have the knowledge, time or facilities to promote themselves through video advertising. Entrepreneurs in their own rights, these individuals will benefit from increased brand exposure through a sophisticated means of promoting their products and brand. Users of social media will take far more notice of visual imagery appearing on their feeds, increasing the profile of the brand. Therefore, online vintage fashion retailers become the clients for this business.
Key Activities
Producing, shooting and editing short advertisements and promotional videos are the key activities that combine to form this service. For these to work efficiently I would have to secure the equipment and maintain it’s functionality, ensuring that the correct tools are used for each task. Every clients preferences would be slightly different and so require care and attention towards the direction of the filmed content (filming styles, how they want their products and brand represented). Deadlines must be met strictly on time, building a reputation for efficiency and reliability. This service relies heavily on positive feedback being distributed by the client within their networks and through the quality of the product displayed online. As well as this, it’s important to upgrade equipment when and where possible, continually building a higher quality service.
Customer Segments
It is important that this service targets a niche section of the marketplace, and serves a specific type of customer. In this case very small, entrepreneurial individuals who are selling their items through social media and profiles on larger fashion retailers stores websites are the main target. Clients can be split into several different pools depending on their individual requirements. Some will be willing to spend more than others on content, and want to promote specific aspects. Going into each job I would have to be prepared that some clients will know exactly what they want produced, down to the fine details, whilst others will be more reliant on my vision and rely on the production for the creative spark. Each client must be evaluated on an case by case basis.
The Mom Test
A book by Rob Fitzpatrick, ‘the Mom Test’ is a quick guide to the generation of quality business concepts, that is designed to help people find a definitive answer to whether their idea is viable before attempting to kick start it. It’s based on the idea that when you ask your Mother if she likes your idea chances are that she will say it sounds great, regardless of if it actually does, this theory extends to a wide range of people, family and friends for example. It’s crucial that when starting up any potential business venture that you speak to the potential customer in depth and generate a solid structure of how your proposition can work.