Business Model Enhancement
Frank N. Magid Associates works with a variety of companies to research, refine, evolve and/or develop new business models. By applying experience-based frameworks and perspectives, we assess existing business models, determine areas for improvement, and identify and build out new business models. Key elements of this process include identifying unique value propositions, examining operational approaches and profit mechanisms, assessing the impact of technological and competitive change, and determining the client’s ability to execute these changes. Changing or evolving business models can be challenging, and Magid is there every step of the way to ensure that the new approach is executed successfully. The business model evolution process answers key questions, including:
- Where does the extraordinary value reside?
- For what internal business unit is the company developing this strategy?
- What are the sources of business value?
- What will allow the client company to develop its business model?
- What must the client do to make the strategy work?
- What are the critical success factors needed to execute this strategy (e.g. key partnerships, organizational requirements, etc.)?
Leveraging Magid's Mobile Expertise, Unique Perspective, and Capabilities to Identify Opportunities in the Mobile Location-Based Advertising Landscape
A division of a leading US wireless carrier that develops and provides geographic information systems wanted to analyze the location-based advertising space to guide their branding, product development and advertising strategies. Applying its mobile expertise and strategic insights, Frank N. Magid Associates conducted an exhaustive deep dive of the location-based advertising landscape, including an analysis of competitors and best practice models in and outside of the industry. Magid also conducted executive interviews with media buyers, ad agency buyers, and advertisers to identify the needs, attitudes and behaviors towards location-based advertising, and the current and future intent to invest in location-based advertising. Magid’s unique perspective of key audience, advertising and technology trends across media platforms provided a filter to analyze the viability and growth potential of the opportunities. The landscape analysis, primary research and Magid’s recommendations guided the client’s entrance strategy into mobile advertising. The success of the engagement has led the firm to continue to leverage Magid’s media and strategic expertise to inform several other key mobile advertising strategies.