What does it mean to design a business model of an innovation?
How do you apply a customer’s journey to exploitation potentials?
During the last 6 months, CORE specifically focused on the exploitation potential of the project. Starting from the customers and their needs, we were able to define attractive value propositions for ReCO2ST and start shaping possible exploitation scenarios for the project results, individually and as a whole.
In order to better understand our potential customers, we set out to develop a customer profile and a customer journey for each one of the customer segments, represented by the respective persona. For doing so, we first looked closer to the analysis conducted during the 1st year of the project and to the feedback we received during the Workshop on customer personas in Vienna. While examining the characteristics of the 6 personas — the needs they have, the pains they hope to alleviate with ReCO2ST, and the overall value gains they expect from the project—similar patterns were discovered among large residential building owners and property managers, as well as between building renovation experts and energy analysts. Thus the 6 personas were merged into the 4 following:
- Lucia: the single house owner, who is also the tenant of her house.
- Rob:the renovation contractor.
- Mike:the property manager who is responsible for a portfolio of residential buildings on behalf of the (usually institutional) owner.
- Maria: the renovation expert, who represents as a persona all experts involved in the concept, design and plan phases of energy building renovations.
For each of the four personas described above, a customer profile was developed along with behavioural characteristics linked to ReCO2ST offering. Moreover, a customer journey for each persona was developed, in order to map the key touchpoints with each customer segment from raising initial awareness, to purchasing decision, delivery and loyalty. On these journeys the preferred communication and purchase channels of each persona are summarized, together with their needs for customer support and preferred purchase type (pay per product, subscription, etc.).
Alongside the analysis of the customer segments, CORE together with the technology providers of the consortium worked on the definition of the value proposition of their products, with a focus on the ReCO2ST RAT, the RetroFit-Kit and ReCO2ST as a whole. Starting from the analysis of the RECO2ST technologies, interviews were conducted to better understand the value that these offerings provide to the customers. Furthermore, a gap analysis between the already known customer needs and the value proposition shows how well ReCO2ST is positioned.
Finally, the customer personas and the value proposition of the project were brought together, in order to form the basis for the ReCO2ST exploitation scenarios. By combining the gathered knowledge, CORE developed a number of different suggestions for the exploitation of RAT, the RetroFit Kit, and ReCO2ST as a whole. These will be iterated with all partners in the upcoming months and serve as the basis for the development of business models.
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