How we work;
So how do we work, well has you can see the diagrams;
our application
We collect data and give recommendation like Music genres in specific areas,
suggestions on musicians/venues close to them, data is relevant because
Areas are suggested where their genre is most listened to, all the information we give to
musicians and venues
We give the information to musician and venues who have subscription and uploaded
their profile.
Our business model is broken down like this; we have musician, venues, clubs and
events has our customer segment.
Customer Relationships; we want our users to get Easy and accessible information,
Collaborations with local venues and talent, and exposure.
Has our channel We going to use Social media’s ( inst, face), also Word of mouth, our
app and Analogue advertising in venues
Our value proposition is that we Provide suggestions on best locations to perform
according to data collected like most listened genre in that area, Venues can easily find
local talent, Venues and musicians can upload a profile to provide more information to
Viewers and Exposure in relevant location.
. Our key activities are Running and app maintenance, updating Mapping system,
collecting feedback and innovating business.
Our key resources are, mapping systems, app development and data collection.
We might partner with mapping system, we just need more research but we don’t have
other key partners
Our budget cost is going to depend on Advertising, App development and date
collection.
When we talk about our revenue streams we had to compare 3 other business which
has a similar business model like ours, the company’s we found was Spotify, Sound
Cloud and Pandora.
Spotify makes money from two sources – a free tier supported by advertising and a paid
subscription premium tier. The free version allows users to play any song in their
catalog, but users are required to view and listen to advertisements that interrupt their
listening. Their mobile app has more restrictions on the free version. Advertisers pay
Spotify for exposure, which in turn fund the royalties that Spotify pays out.
Sound cloud has 4 tiers; one is Partner – This tier is free, but it only allows you to
upload 3 hours of content. 2 is Pro – This tier will cost you $6 per month (or $55
annually) and you’re upload limit is bumped up to 6 hours of content. Then Pro
Unlimited – This tier gives artists unlimited uploads and last one Premier The premier
level is available by invite only and this is the tier where artists can start making money
from the tracks they upload.
And Pandora, has two ways to make money advertising and subscriptions, with
advertising making up 89% of revenue.
After comparing the revenue streams we decided; Subscription and adverting is going
to be our two ways of making money. When a musician or a music agent subscribe to
our app he/she unlocks the features of our app having access to all the data and tools
needed.
We has a group selected a restricted flow for this business idea, restricted flow is when
a value is constrained by limited access or high barriers entry, we believe this flow is the
right choice for this business idea; and this is because people are restricted to what they
can do on music app and not only that; but people spend a lot amount of time and
money in doing their own research and finding ways to get exposure, and some people
don’t even get the right connect or data to achieve.
The marketing and communication tools that we selected for our market is digital
marketing strategy. The digital marketing strategy, is a strategy of marketing products or
services using digital channels to reach consumers, the main key is to promote brands
through various forms of digital media, and not only by internet marketing but it also
extends beyond that including mobile phones, social media marketing, display
advertising, search engine marketing, and any other form of digital media. The best
thing about the digital marketing strategy is that you can target a local audience, but
also an international one, with this strategy we can interact with our customers and even
collect and record data about our targeted audience which will make it easy for us to
develop and improve our marketing strategy, digital marketing is even cost-efficient
which makes it cheaper than other strategy’s. South Africa is a developing country and
their about millions of people who use digital technology, South Africa is a tourists
attraction and a home, many world tour or concerts happen in South Africa, south Africa
is a large market. With a large country with almost half of the population using digital
technology, it would make sense to use the same tool in order to market and
communicate with our target customers. There is a saying that says “good content isn’t
about good storytelling. It’s about telling a true story well.”
- Supply chain
