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Why TeamViewer's Business Model is so successful?

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TeamViewer’s Company Overview


TeamViewer is a global technology company, founded in 2005 and headquartered in Göppingen, Germany. It specializes in providing a comprehensive suite of remote connectivity solutions that allows individuals and organizations to interact and collaborate with anyone, anywhere, anytime. TeamViewer's solutions offer remote desktop access, remote support, and team collaboration functionalities, among others. The company's software operates on a cloud-based platform and is compatible with multiple operating systems and devices, including Windows, macOS, Android, and iOS. TeamViewer has a strong global presence with millions of active users, including many Fortune 500 companies, and its software supports more than 30 languages. Business Model: TeamViewer operates on a freemium business model. It offers basic features for free to individual users, allowing them to remotely access and control their devices from anywhere in the world. For more advanced features and commercial use, TeamViewer provides different subscription plans. These plans are tailored to meet the needs of various customer segments, ranging from single users and small businesses to large corporations. The premium features include unlimited remote access to multiple devices, high-definition video conferencing, file sharing, and priority customer support. TeamViewer also offers customized solutions for specific industries like IT, healthcare, and education. Revenue Model: TeamViewer generates revenue primarily through its subscription plans. The company offers a range of plans with varying prices, based on the number of users, the level of service, and the specific features included. Subscriptions are available monthly or annually, providing a steady stream of recurring revenue. In addition to this, TeamViewer also earns revenue from its customized solutions tailored to specific industries, which often command higher prices due to their specialized nature. Lastly, the company generates a small portion of its revenue from advertising within its free software version.

https://www.teamviewer.com/

TeamViewer’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: provides access, design/aesthetics

Functional: saves time, simplifies, connects, reduces effort, reduces cost, integrates


TeamViewer’s Related Competitors



TeamViewer’s Business Operations


Access over ownership:

The accessibility over ownership model is a business concept that allows consumers to utilize a product without owning it. Everything serves a purpose. As a result, consumers all across the Western world are demanding more value from their goods and services, and they are rethinking their relationship with stuff.' Furthermore, with thriving online communities embracing the idea of access above ownership, the internet is developing as a robust platform for sharing models to expand and prosper.

Add-on:

An additional item offered to a customer of a primary product or service is referred to as an add-on sale. Depending on the industry, add-on sales may generate substantial income and profits for a firm. For example, when a customer has decided to purchase the core product or service, the salesman at an automotive dealership will usually offer an add-on sale. The pattern is used in the price of new software programs based on access to new features, number of users, and so forth.

Cross-selling:

Cross-selling is a business strategy in which additional services or goods are offered to the primary offering to attract new consumers and retain existing ones. Numerous businesses are increasingly diversifying their product lines with items that have little resemblance to their primary offerings. Walmart is one such example; they used to offer everything but food. They want their stores to function as one-stop shops. Thus, companies mitigate their reliance on particular items and increase overall sustainability by providing other goods and services.

Ecosystem:

A business ecosystem is a collection of related entities ? suppliers, distributors, customers, rivals, and government agencies ? collaborating and providing a particular product or service. The concept is that each entity in the ecosystem influences and is impacted by the others, resulting in an ever-changing connection. Therefore, each entity must be adaptive and flexible to live, much like a biological ecosystem. These connections are often backed by a shared technical platform and are based on the flow of information, resources, and artifacts in the software ecosystem.

Flat rate:

This model is used to describe a pricing system that charges a single flat price for service regardless of its actual use or duration. A company may establish a responsible position in a market if customers get excellent pricing before performing the service. The consumer benefits from a straightforward cost structure, while the business benefits from a predictable income stream.

Freemium:

Freemium is the sum of the words free and premium and refers to a business strategy that provides both free and premium services. The freemium business model works by providing essential services for free and charging for enhanced or extra capabilities. This is a typical practice among many software firms, who offer imperative software for free with restricted functionality, and it is also a popular approach among game developers. While everyone is invited to play the game for free, extra lives and unique game features are accessible only once the player buys.

Guaranteed availability:

Guaranteed availability is a property of a business system that attempts to maintain an agreed-upon level of operational performance, often uptime, for a longer time than is typical. The idea is often linked with terms such as high availability and catastrophe recovery.

Lock-in:

The lock-in strategy?in which a business locks in consumers by imposing a high barrier to transferring to a competitor?has acquired new traction with New Economy firms during the last decade.

Self-service:

A retail business model in which consumers self-serve the goods they want to buy. Self-service business concepts include self-service food buffets, self-service petrol stations, and self-service markets. Self-service is available through phone, online, and email to automate customer support interactions. Self-service Software and self-service applications (for example, online banking apps, shopping portals, and self-service check-in at airports) are becoming more prevalent.

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.

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.

Tiered service:

Users may choose from a limited number of levels with gradually rising price points to get the product or goods that are most appropriate for their requirements. Such systems are widely used in the telecommunications industry, particularly in the areas of cellular service, digital and cable television, and broadband internet access. Users may choose from a limited number of levels with gradually rising price points to get the product or goods that are most appropriate for their requirements.

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