8 Traits Of Successful Digital Business Models

10 Jan 2017

We have all heard of successful of digital businesses such as Uber, Amazon, AirBnB and Alibaba to mention a few, but what makes these digital businesses so competitive? In this blog post, I'll present 8 traits that characterise both traditional and digital business models.

As we can see from the visualisation above, traditional business models are typically process centric, cost focused, company controlled, multichannel and hard and slow to scale. Meanwhile, digital business models are customer centric, agile, omnichannel, transparent and collaborative and focuses on value and outcomes as oppose to costs.

Picture from General Electric.

One company which is taking small steps towards becoming more value and outcome focused is General Electric (GE). The industrial company GE is providing its key industrial products such as jet engines and gas turbines to CT/PET scanners with sensors that monitor and analyse various components of the machinery. With the help of this data and advanced analytics, GE can improve effecience and schedule preventive maintenance and repairs. Similarly, to Rolls-Royce they are moving from selling jet engines towards selling hours of aircraft availability. Do you want to read more about Rolls-Royce and the concept of servitisation? Check out this blog post - What is Servitisation?

Follow me on YouTube to see videos where I explain the nature of these disruptive trends or reach out directly to my management agency, Ode Management, for keynote requests.

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