TripAdvisor has given travellers a voice and a channel to exchange experiences. It has shown how to enter an old-established industry mainly based on user-generated content and from there grow into adjacent areas.
Reading this article, you will understand the differences to Booking.com and Expedia and be able to use ideas from these vastly successful platform businesses for your own innovation ideas.
Business Model Canvas
The Business Model Canvas is a very popular tool among innovators devised by Alexander Osterwalder. I am using it to explain some of the most interesting company in-depth profiles as well as some fundamental business models.
Business Model Canvas Booking.com
If someone asked you “which company is the biggest one in the travel industry?” what would you answer? Maybe American Airlines? Or the Hilton hotel chain? They are some of the biggest players in this industry. Yet, Booking.com’s parent Priceline surpassed both combined by market cap, easily.
Learn how about Booking.com’s business model in-depth in the most popular strategy tool, the Business Model Canvas.
It will help you understand the platform business model which underpins Booking’s success. It will help you sharpen your innovation knowledge.
Business Model Canvas Yelp
Demand aggregator platforms like Yelp, Tripadvisor, Groupon, Foursquare have grown at breakneck pace. Even ten years ago hardly anyone would have anticipated their multi-billion dollar valuations. They are strategically positioned on the demand side, unlike Uber and Airbnb who are positioned on the supply side.
Learn how their business model works in-depth using the Business Model Canvas from one of their most successful ones: Yelp.
Platform Business Model Canvas
The Platform Business Model is fuelling the most envied start-ups and most valuable publicly listed companies. Google, Facebook, Uber, Airbnb, Alibaba make most of their revenues from this business model. Today, I am showing it fits in the extremely popular innovation tool, the Business Model Canvas.