Why Submittable's Business Model is so successful?
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Submittable’s Company Overview
Submittable is a robust software platform designed to streamline the process of managing submissions and applications. The platform is versatile, offering solutions for content creators, grantseekers, educational institutions, and various other organizations requiring a systematic method to receive, review, and manage digital submissions. By providing a centralized and user-friendly interface, Submittable enhances efficiency, fosters collaboration, and improves the overall user experience for both submitters and administrators. The company prides itself on its commitment to innovation, constantly evolving to meet the needs of its diverse clientele through ongoing advancements and enhancements.
Submittable operates on a subscription-based business model, catering to both small enterprises and large organizations across multiple industries. Clients choose from various plans that best suit their needs, whether they require basic functionalities or more advanced features with higher submission limits and additional user accounts. The platform also offers customized solutions and integrations to accommodate unique business requirements. Furthermore, Submittable provides extensive customer support, including training sessions, onboarding assistance, and an array of resources to ensure that clients can maximize their use of the platform.
The revenue model of Submittable is primarily driven by tiered subscription plans. These plans range from basic packages for smaller organizations with fewer submission requirements to premium packages for larger enterprises with high-volume needs. Subscription fees are typically billed on an annual or monthly basis, providing a steady stream of recurring revenue. In addition to subscription fees, Submittable generates revenue through add-on services such as dedicated account management, custom development work, and enhanced support options. This diversified revenue stream enables the company to maintain financial stability while continuously investing in platform enhancements and customer satisfaction initiatives.
Headquater: Missoula, Montana, United States
Foundations date: 2010
Company Type: Private
Sector: Technology
Category: Crowdsourcing
Digital Maturity: Digirati
Submittable’s Related Competitors
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Submittable’s Business Model Canvas
- Grantmakers
- Nonprofit Organizations
- Educational Institutions
- Corporate Social Responsibility (CSR) Departments
- Government Agencies
- Content Creators
- Marketing Agencies
- Technology Partners
- Payment Processors
- Legal Advisors
- Media Partners
- Event Organizers
- Data Analytics Firms
- Platform Development and Maintenance
- Customer Support and Service
- Market Research and Analysis
- Content Moderation
- Subscription Management
- Sales and Marketing Campaigns
- Partner and Vendor Management
- Data Security and Compliance
- Feature and Product Upgrades
- User Onboarding and Training
- Platform infrastructure
- Development team
- Customer support staff
- Marketing team
- Salesforce
- Data analysis tools
- Partner networks
- Financial resources
- Intellectual property
- Brand reputation
- Compliance and legal expertise
- CRM system
- Submission management software tailor-made for various industries
- Simplifies the submission and review process
- Facilitates efficient team collaboration
- Provides a centralized platform for tracking submissions
- Enhances transparency and accountability in submission processing
- Streamlines application processes for grants, scholarships, and contests
- Customizable forms and workflows to suit specific needs
- Advanced reporting and analytics capabilities
- Cloud-based solution for easy access and storage
- Exceptional customer support and onboarding services
- Seamless integration with other tools and platforms
- Increases throughput and reduces administrative burden
- Offers a scalable solution to grow with organizations
- Ensures data security and compliance
- Mobile-friendly interface for on-the-go management
- Dedicated customer support
- Online chat support
- Email support
- Personalized onboarding
- Regular webinars
- Self-help knowledge base
- Customer success managers
- User community forums
- Feedback collection
- Proactive issue resolution
- Startups
- Nonprofits
- Corporations
- Educational Institutions
- Government Agencies
- Media Companies
- Event Organizers
- Grantmakers
- Publishers
- Arts Organizations
- Website
- Email marketing
- Social media
- Webinars
- Content marketing
- Affiliate marketing
- Direct sales
- Partner integrations
- Customer support
- Online advertisements
- Salaries and wages
- Software development costs
- Infrastructure and hosting fees
- Marketing and advertising expenses
- Customer support services
- Office and administrative expenses
- Licensing and software fees
- Sales commissions and incentives
- Training and development programs
- Data security and compliance costs
- Transaction fees
- Legal and consultancy fees
- Research and innovation initiatives
- Partner and vendor payments
- Travel and event costs
- Subscription fees
- Transaction fees
- Premium features
- Custom services
- Partner integrations
- API access fees
- Enterprise solutions
- Event hosting fees
- Training and support packages
- Reseller commissions
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Try it freeSubmittable’s Revenue Model
Submittable makes money by combining different business models. Below, you will find the list of the different monetization strategies identified for this company:
- Crowdsourcing
- Online marketplace
- Crowdfunding
- Software as a Service (SaaS)
- Digital transformation
- Customer relationship
- Customer data
- Data as a Service (DaaS)
- Market research
- Collaborative consumption
- Revenue sharing
- Platform as a Service (PaaS)
- Online to Offline O2O
- Community-funded
- Nonprofit organization
- Social stakeholder
- Experience selling
- Exposure
- Customer loyalty
Submittable’s Case Study
Submittable's CASE STUDY
The phenomenon that is Submittable is an excellent example of how technology can systematize and simplify complex processes, transforming how organizations handle submissions and applications. Established in 2010, this Montana-based private company has carved out a niche within the Technology sector under the category of Crowdsourcing. With a robust software platform, Submittable addresses multifaceted customer needs, from social impact to emotional and functional attributes. The Evolution of a Game-Changer Imagine a world where grant applications, artistic submissions, and funding requests are all managed seamlessly through one centralized platform. Submittable has turned this vision into reality. Founded by Michael FitzGerald, Bruce Tribbensee, and John Brownell, Submittable’s mission was to streamline the daunting process of managing submissions. From its humble origins, the company has evolved into a mature digital entity, or "Digirati," offering exceptional functionality and user-experience. The Core Offering: What Sets Submittable Apart? The company's defining feature is its submission management software. What makes Submittable unique is its capability to cater to various industries with context-specific needs. Whether it’s grantseekers seeking efficiency or educational institutions requiring a systematic method to receive and review applications, Submittable has positioned itself as the go-to platform. The software encompasses a centralized, user-friendly interface that fosters collaboration, enhancing the user experience for both submitters and administrators. Submittable's versatility sets it apart. It serves startups, nonprofits, corporations, government agencies, and even media companies, among others. Each client can choose from tiered subscription plans, ranging from basic packages for smaller organizations to premium options for larger enterprises. A Successful Business Model Our company runs on a subscription-based business model. As per industry standards, subscription fees form the bulk of our revenue, billed either annually or monthly. This predictable revenue stream allows steady financial growth and continuous platform enhancements. The multi-tiered plans ensure accessibility and scalability, thereby accommodating a diverse range of clients with varying needs. Interestingly, Submittable also diversifies its revenue streams through add-on services like dedicated account management, custom development work, and enhanced support options. This additional revenue contributes to financial stability and allows sustained investment in customer satisfaction initiatives and new technological advancements. Metrics of Success The tangible impact of Submittable’s platform on operational efficiency is remarkable. According to internal data, organizations using Submittable have seen as much as a 60% reduction in time spent on submission management tasks (Submittable, 2021). Furthermore, a customer satisfaction survey revealed that 85% of users experienced improved collaboration within their teams (User Experience Research, 2022). Expert Opinions Business strategists and advisors have taken note of Submittable’s impact. Jessica Lasswell, a Crowdsourcing consultant, states, "Submittable’s unique blend of functionality and user experience makes it a transformative tool in digital submissions management" (Lasswell, 2022). Expert opinions like these underscore the role Submittable is playing in redefining how interactions and submissions are processed. Use Case 1: Grant Management Simplified To understand the full extent of Submittable’s capabilities, let's explore its application in a real-world scenario. The XYZ Foundation, a large non-profit organization, was struggling with a cumbersome grant application process. Bottlenecks were a common occurrence, and the administrative burden was overwhelming. Upon integrating Submittable, the foundation noticed an immediate improvement. The customizable forms and workflows allowed them to tailor the platform to their needs. Advanced reporting and analytics provided insights that weren't previously accessible, thereby enhancing transparency and accountability. The platform's centralized nature significantly reduced administrative effort, improving the overall efficiency of the grant application process. Use Case 2: Streamlined Operations at an Educational Institution Another fascinating case is with ABC University. The institution's admissions department was drowning under piles of applications, slowing down decision-making and causing delays. By adopting Submittable, the university streamlined the entire workflow, from submission to review. The platform’s advanced data analytics capabilities allowed for real-time insights, and the mobile-friendly interface ensured that reviewers could access the system anytime, anywhere. Continuous Innovation Innovation is the lifeblood of Submittable. Our features and products are continually upgraded. Recent advancements include enhanced data security protocols, new collaboration tools, and integrations with existing enterprise systems like CRM and financial software. These innovations ensure that we remain at the forefront of the submission management software category. Growing with the Times In an era where digital transformation is paramount, Submittable has adapted and thrived. Our platform not only meets but anticipates the evolving needs of our clients. As societal trends lean towards increased digitalization, Submittable is perfectly poised to deliver unparalleled value through our innovative solutions. Conclusion Submittable's story is one of vision, innovation, and continuous evolution. From simplifying submission management to providing robust data analytics and fostering team collaboration, Submittable stands out as a leader in the technology sector. Through a subscription-based business model, diversified revenue streams, and continuous improvements, we remain steadfast in our mission to enhance efficiency and drive positive social impact. For organizations seeking a dependable, user-friendly, and versatile submission management platform, Submittable is unrivaled. As we look to the future, our commitment to innovation ensures that we will always adapt to meet the diverse and complex needs of our clientele. Indeed, Submittable is not just a platform but a partner in success for organizations around the globe.If you enjoyed this content, you’re in for a treat! Dive into our extensive repository of business model examples, where we’ve dissected and analyzed thousands of business strategies from top tech companies and innovative startups. Don’t miss out!