This web app uses cookies to compile statistic information of our users visits. By continuing to browse the site you are agreeing to our use of cookies. If you wish you may change your preference or read about cookies

close

Why BetterUp's Business Model is so successful?

Get all the answers


BetterUp’s Company Overview


BetterUp is a pioneering mobile platform that offers personalized professional coaching, counseling, and mentorship. Based in San Francisco, California, BetterUp was established in 2013 to unleash employees' potential by bridging the gap between analysis and action. Offering a unique blend of machine learning, behavioral science, and human judgment, BetterUp provides one-on-one coaching, personalized insights, and actionable feedback to stimulate personal growth and professional development. BetterUp's unparalleled service enhances employee productivity, resilience, and workplace satisfaction in various areas, including leadership, communication, and culture. Business Model: BetterUp's innovative business model provides individualized professional development through a digital platform. This coaching app connects employees with experienced coaches for video chat sessions, enabling them to focus on improving personal and professional growth areas. BetterUp provides users access to a robust library of resources for further learning and development, including articles, webinars, and assessments. The company works primarily with enterprise clients and offers memberships to organizations that want to invest in their employees' holistic growth and well-being. Revenue Model: BetterUp's primary revenue stream originates from its B2B (business-to-business) model, where it offers its services to organizations. Companies purchase memberships for their employees, the cost of which varies depending on the size of the organization and the level of personalized service required. BetterUp charges its clients on an annual subscription basis, providing them unlimited access to coaching sessions, personalized development plans, and their extensive resource library. This revenue model has proved fruitful for BetterUp, appealing to many organizations interested in investing in employee development for increased productivity and retention.

https://www.betterup.com/

Country: California

Foundations date: 2013

Type: Private

Sector: Consumer Services

Categories: Consulting


BetterUp’s Customer Needs


Social impact:

Life changing: self-actualization, motivation, affiliation/belonging

Emotional: reduces anxiety, wellness, therapeutic value, provides access

Functional: connects, informs, quality


BetterUp’s Related Competitors



BetterUp’s Business Operations


Best in class services:

When a firm brings a product to market, it must first create a compelling product and then field a workforce capable of manufacturing it at a competitive price. Neither task is simple to perform effectively; much managerial effort and scholarly study have been dedicated to these issues. Nevertheless, providing a service involves another aspect: managing clients, who are consumers of the service and may also contribute to its creation.

Digital transformation:

Digitalization is the systematic and accelerated transformation of company operations, processes, skills, and models to fully exploit the changes and possibilities brought about by digital technology and its effect on society. Digital transformation is a journey with many interconnected intermediate objectives, with the ultimate aim of continuous enhancement of processes, divisions, and the business ecosystem in a hyperconnected age. Therefore, establishing the appropriate bridges for the trip is critical to success.

Knowledge and time:

It performs qualitative and quantitative analysis to determine the effectiveness of management choices in the public and private sectors. Widely regarded as the world's most renowned management consulting firm. Descriptive knowledge, also called declarative knowledge or propositional knowledge, is a subset of information represented in declarative sentences or indicative propositions by definition. This differentiates specific knowledge from what is usually referred to as know-how or procedural knowledge, as well as knowledge of or acquaintance knowledge.

Mobile first behavior:

It is intended to mean that as a company thinks about its website or its other digital means of communications, it should be thinking critically about the mobile experience and how customers and employees will interact with it from their many devices. The term is “mobile first,” and it is intended to mean that as a company thinks about its website or its other digital means of communications, it should be thinking critically about the mobile experience and how customers and employees will interact with it from their many devices.

On-demand economy:

The on-demand economy is described as economic activity generated by digital marketplaces that meet customer demand for products and services via quick access and accessible supply. The supply chain is managed via a highly efficient, intuitive digital mesh built on top of current infrastructure networks. The on-demand economy is transforming commercial behavior in cities worldwide. The number of businesses, the categories covered, and the industry's growth rate are all increasing. Businesses in this new economy are the culmination of years of technological progress and customer behavior change.

Reputation builders:

Reputation builders is an innovative software platform that enables companies to create, collect, and manage positive internet reviews. It was a pioneer in the utilization of user-generated material. The website services are provided for free to users, who supply the majority of the content, and the websites of related businesses are monetized via advertising.

Software as a Service (SaaS):

Software as a Service (SaaS) is a paradigm for licensing and delivering subscription-based and centrally hosted software. Occasionally, the term on-demand software is used. SaaS is usually accessible through a web browser via a thin client. SaaS has established itself as the de facto delivery mechanism for a large number of commercial apps. SaaS has been integrated into virtually every major enterprise Software company's strategy.

Solution provider:

A solution provider consolidates all goods and services in a particular domain into a single point of contact. As a result, the client is supplied with a unique know-how to improve efficiency and performance. As a Solution Provider, a business may avoid revenue loss by broadening the scope of the service it offers, which adds value to the product. Additionally, close client interaction enables a better understanding of the customer's habits and requirements, enhancing goods and services.

Subscription:

Subscription business models are built on the concept of providing a product or service in exchange for recurring subscription income on a monthly or annual basis. As a result, they place a higher premium on client retention than on customer acquisition. Subscription business models, in essence, concentrate on revenue generation in such a manner that a single client makes repeated payments for extended access to a product or service. Cable television, internet providers, software suppliers, websites (e.g., blogs), business solutions providers, and financial services companies utilize this approach, as do conventional newspapers, periodicals, and academic publications.

Embed code:

x
Copy the code below and embed it in yours to show this business model canvas in your website.