I remember a time when we visited our relatives and cousins.
We would be given photos albums to browse, if there was a wedding in the family, we would be given a wedding album to go through.
If there was any ceremony of some sort [baby dedication, graduation etc], we would be given photo-album to browse and talk about the moments and people in that album.
This was done while we drink tea with tea-some-more biscuits.
How do you get your offerings to your customers and how do they pay you?
How do you communicate with your customers and how do they communicate with you?
Customer channel refers to the manner you connect your offerings to your customers and how they connect with you.
Channels are important because most channels have been disrupted resulting in massive business bankruptcies.
Kodak has a brilliant business model that resulted in photo-albums in many homes.
We even had phrases such as Kodak moments, phrase used when taking a picture of someone at a particular moment that will never be forgotten.
‘Aww!.. They look soo happy sitting there by the lake! That’s definitely a kodak moment!’
Kodak made lots of money with this model.
You buy a camera, and a film, take photos, take the film back to Kodak to develop into pictures, get the pictures back, buy another film and on and on.
The channel was, you come to us to buy the film and we develop the photos for you.
The more films sold, the more money for Kodak, the more Kodak moments and photo-albums for the families.
This channel has been disrupted and Kodak has since declared bankruptcy.
The phrase Kodak moment has been redefined from unforgettable moments captured on film, to when your industry or business gets changed on its head because you didn’t see or act in time to the changes coming.
‘The business owner of a DVD rental shop (ie video store) had a kodak moment the minute Netflix came to town.’
Today we don’t give people photo-albums. Our photos are digital, and we upload them on online platforms like Instagram.
These new channels are instant, and accessible anywhere, anytime.
I don’t have to visit your house to see your graduation pictures.
The channel of sharing photos has shifted from photo-albums to online albums.
Look at your business channel, if it can be disrupted, chances are it will be disrupted.