Revenue Streams for FitOne

We have had a closer look at our potential Revenue Streams. Just a short recap on what it actually means:

REVENUE STREAM = strategy the company uses to generate cash from each customer segment

 shouldn't be mixed with

PRICING =  tactics company uses to set the price in each customer segment

So this just simply means that we may want to trial several revenue streams and each revenue stream may have different pricing tactics. According to our learning materials from LaunchPad Central we came to a conclusion that taking into account our current MVP (and ideas for additional features) we could use 2 Revenue Streams: Intermediation fee and Advertising. We have also added this to our Business Model Canvas.

First of all we were trying to find pros/cons to each of the possible strategies and we made a list for ourselves.

On top of that, it looks like Fixed Pricing (vs. Dynamic) may be more suitable to our Revenue Streams.

Another thing we have considered - we are trying to reach two sides of the market (Multi-Sided markets model) - and in this case we are putting our users first. Therefore we have to figure out how to get users, how to become a high traffic website, get a considerable number of app users and in this way we are planning to deliver a good value to the "other side of the market" - however they should see the value in order to be willing to pay for it. We are also within Re-segmented market (however we aim to offer better value and features to our users).

Post by: Laura