52. Social Business Model Canvas: Customers

Strategy Made Simple

The business model canvas is a powerful tool to get a quick sense of how a business works. It can also be used to show how businesses can create social good.

Without customers, you don't have a business. Finding the right customers can be the difference between a successful business and one that struggles.

In this episode of Strategy Made Simple, we go through a few tools you can use to describe your ideal customers, from demographics and psychographics and branding matrices to innovation adoption curves and minimum viable audiences.

Matthew also describes how social value can be created by focusing in on certain customer segments, specifically those who are on the bottom of the income pyramid.

00:00 - Intro 00:15 - Demographics and Psychographics 02:30 - Crossing the Chasm - Using the technology adoption curve 03:39 - Minimum Viable Audience 05:34 - Social impact through target markets (Bottom of Pyramid) 07:37 - Case Study: Grayston Bakery 10:43 - Outro ---

Sign up for the Social Business Modelling Workshop: https://strategymadesimple.ca/social-business-modelling-workshop

You can continue the conversation by joining SocialEconomyConnect.com. Social Economy Connect is a free mutual support platform for practitioners, social entrepreneurs, co-op members and developers and third sector supporters to discuss issues and solutions with a focus on social outcomes in the economy.

Resources: Business Model Generation: https://www.strategyzer.com/books/business-model-generation HBR article on using branding matrices: https://hbr.org/2015/06/a-better-way-to-map-brand-strategy Geoffrey Moore's Crossing the Chasm: https://www.amazon.ca/Crossing-Chasm-3rd-Disruptive-Mainstream/dp/0062292986 Seth Godin on Minimum Viable Audience: https://seths.blog/2017/07/in-search-of-the-minimum-viable-audience/ Bottom of Pyramid: https://en.wikipedia.org/wiki/Bottom_of_the_pyramid Grayston Bakery: https://www.greyston.org/ Get the Strategy Made Simple social business model canvas: https://strategymadesimple.ca/social-business-model-canvas-signup

Transcript available on the Strategy Made Simple blog: https://strategymadesimple.ca/blog/video-social-business-model-canvas-value-propositions

For more information visit strategymadesimple.ca

Contact Matthew: Twitter: @MatthewRempel Email: [e-mail]

Scripted, recorded and edited by: Matthew Rempel Music provided by: epidemicsound.com