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29 Jun 2023 19:22:20 UTC
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How Novi Used a SaaS Business Model to Generate Demand Before Going Marketplace - CEO Kimberly Shenk
One of the classic platform growth strategies is to provide single-user utility. This is a strategy in where you attract one side of your multi-sided platform by offering that user group value even if the other side never shows up.
In the case of Novi, they focused on demand by bringing brands on board and building relationships with them. They offered brands (AKA the demand side of a raw materials transaction) a SaaS tool aiding in formulation, product development, and ingredients transparency. However, Novi always had the intention of transitioning to a marketplace model.
Once Novi had aggregated enough demand in the form of brands using their SaaS offerings, they were able to onboard suppliers and transition from a SaaS model to a marketplace.
—
? Grab a copy of the Amazon Best Seller Modern Monopolies: https://amzn.com/B017RC8CBC
❓ Are you part of a large enterprise interested in spinning out a platform business? Connect with us here: https://resources.applicoinc.com/wta-contact/
? Listen to an audio version of the WTA Podcast here: https://anchor.fm/winnertakeall
At Applico, we identify untapped, intrinsic assets that give existing enterprises an enormous advantage to spin-out new tech companies. WisdomTree licensed Applico's Platform Insights Data Product to aid in the creation of the PLAT ETF.
...
https://www.youtube.com/watch?v=Ipos53OB850
In the case of Novi, they focused on demand by bringing brands on board and building relationships with them. They offered brands (AKA the demand side of a raw materials transaction) a SaaS tool aiding in formulation, product development, and ingredients transparency. However, Novi always had the intention of transitioning to a marketplace model.
Once Novi had aggregated enough demand in the form of brands using their SaaS offerings, they were able to onboard suppliers and transition from a SaaS model to a marketplace.
—
? Grab a copy of the Amazon Best Seller Modern Monopolies: https://amzn.com/B017RC8CBC
❓ Are you part of a large enterprise interested in spinning out a platform business? Connect with us here: https://resources.applicoinc.com/wta-contact/
? Listen to an audio version of the WTA Podcast here: https://anchor.fm/winnertakeall
At Applico, we identify untapped, intrinsic assets that give existing enterprises an enormous advantage to spin-out new tech companies. WisdomTree licensed Applico's Platform Insights Data Product to aid in the creation of the PLAT ETF.
...
https://www.youtube.com/watch?v=Ipos53OB850
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