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Why Vyond's Business Model is so successful?

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Vyond’s Company Overview


Vyond, formerly known as GoAnimate, is a cloud-based, animated video creation platform that allows businesses, professionals, and individuals to create dynamic and engaging videos without requiring any extensive technical skills or large budgets. The company was founded in 2007 and is headquartered in San Mateo, California. Vyond's platform provides a wide array of customizable templates, characters, props, and scenes, enabling users to create unique and personalized animations. These videos can be used for various purposes such as training and eLearning, marketing and explainer videos, and internal communication. Vyond aims to empower everyone to communicate visually using quick, easy, and professional-grade tools. Vyond operates on a subscription-based business model. Customers can choose from several pricing plans depending on their specific needs and the features they require. These plans range from individual to enterprise level, and are categorized as Essential, Premium, Professional, and Enterprise. Each plan offers different features including the number of characters, props, audio files, and the ability to export videos in different formats. This flexibility allows Vyond to cater to a broad range of customers, from small businesses to large corporations. The primary source of revenue for Vyond is the subscription fees it charges its users. The pricing varies depending on the chosen plan and the number of users. Vyond also offers additional services such as custom character creation and premium customer support, which contribute to its revenue. The company also generates income through partnerships and affiliations with other businesses, offering them a platform to advertise their products or services. By providing a robust, user-friendly platform for video creation, Vyond ensures a steady stream of income from its diverse customer base.

https://www.vyond.com/

Country: California

Foundations date: 2007

Type: Private

Sector: Technology

Categories: Software


Vyond’s Customer Needs


Social impact:

Life changing: motivation, affiliation/belonging

Emotional: design/aesthetics, fun/entertainment, provides access

Functional: saves time, simplifies, integrates, reduces effort, quality, variety, informs


Vyond’s Related Competitors



Vyond’s Business Operations


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.

Customer data:

It primarily offers free services to users, stores their personal information, and acts as a platform for users to interact with one another. Additional value is generated by gathering and processing consumer data in advantageous ways for internal use or transfer to interested third parties. Revenue is produced by either directly selling the data to outsiders or by leveraging it for internal reasons, such as increasing the efficacy of advertising. Thus, innovative, sustainable Big Data business models are as prevalent and desired as they are elusive (i.e., data is the new oil).

Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

Digital:

A digital strategy is a strategic management and a business reaction or solution to a digital issue, which is often best handled as part of a broader company plan. A digital strategy is frequently defined by the application of new technologies to existing business activities and a focus on enabling new digital skills for their company (such as those formed by the Information Age and frequently as a result of advances in digital technologies such as computers, data, telecommunication services, and the World wide web, to name a few).

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.

Experience selling:

An experience in the sales model describes how a typical user perceives or comprehends a system's operation. A product or service's value is enhanced when an extra customer experience is included. Visual representations of experience models are abstract diagrams or metaphors derived from recognizable objects, actions, or systems. User interfaces use a range of experience models to help users rapidly comprehend what is occurring in the design, where they are, and what they may do next. For example, a software experience model may depict the connection between two applications and the relationship between an application and different navigation methods and other system or software components.

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.

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