Creating a Scalable Business Model for VibeVision

Funmedia

After working with Columbia Road our tool evolved into a fully eligible digital business model. We now have the tools to take the service to market, make it a differentiator for us, and thus a pivotal part of our business. Reijo Karttunen, Founder, Funmedia


Key objectives

Emotions are a crucial part of creating an unforgettable customer experience in every touchpoint during the customer journey. Funmedia had developed a tool called VibeVision for measuring emotions in events and they wanted to explore business opportunities for the tool to be used in all kinds of customer interactions. The main goal was to develop a scalable business model for VibeVision.       


Our approach

We decided to apply the Futurice Lean Service Creation toolkit to get an understanding of business goals, customer need and buyer personas. We began with setting business goals, recognizing enablers and restrictions for development and naming the key stakeholders for VibeVision. We defined buyer personas for the service and refined those with customer interviews.

After that we created an actual digital business model for VibeVision, including pricing for different service packages, service content and a model for producing the service.


Impact

As a result we were able to verify the customer need and created a suitable and scalable business model for VibeVision. With recognized buyer personas, Funmedia is able to launch the service and develop the service further as part of their digital business. In addition, we recognized the biggest bottlenecks in developing the right kind of business model and created a plan to solve those. For the service launch we created a strategy for inbound marketing.    

About Funmedia

Funmedia is a Finnish event marketing agency, established 30 years ago. They work with banks, airports, insurance companies and more. www.funmedia.fi


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