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In today’s fast-paced global economy, reinventing your business model isn’t just an option—it’s a strategic imperative for sustainable growth and long-term success. The companies that fail to adapt are often left behind, as history has shown us time and again. The landscape is shifting; customer expectations are higher than ever, behaviors are evolving, and technology continues to accelerate at an unparalleled rate.
As a leader, your role is pivotal. How will you lead your organization to unlock untapped growth?
While you can’t predict the future, you can shape it. What will set you apart from the competition? How will you steer your company toward innovation and resilience in a world where change is the only constant?
What is business model reinvention?
Business model reinvention is a complete reimagining of how a company operates to create, deliver, and capture value. Rather than simply improving or tweaking existing methods, it involves rethinking the essential parts that drive the business—like the value it offers, how it makes a profit, its core capabilities, processes and resources.
What’s at stake?
Today’s business leaders face the dual challenge of addressing immediate hurdles while preparing to leverage powerful, long-term shifts in the market. The future is increasingly unpredictable, with significant disruptions expected from rapidly changing consumer preferences, evolving regulations, workforce shortages, and technological advancements.
No industry will remain untouched by these changes. Now is the time for leaders to think about reinvention to stay resilient and capitalize on these transformative trends.
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Business model reinvention: Reimagining value creation
Drivers of business model reinvention
Market disruptions:
Changes in technology, customer preferences, or the competitive landscape can disrupt traditional business models, necessitating a reinvention to remain relevant.
Declining performance:
Shrinking market share, or declining customer satisfaction may indicate that the current business model is no longer effective, prompting the need for reinvention.
Innovation opportunities:
The identification of innovative ideas or emerging technologies with potential to revolutionize the company's operations and offerings can be a catalyst for reinvention.
Industry shifts:
Evolving regulatory environments, emerging trends, or shifts in consumer behavior can require companies to reinvent.
Reinvention in action
- The opportunity: A multinational insurance company reimagined its business model to enter the US market with a bold new go-to-market strategy. Instead of a traditional insurance offering, the organization focused on creating an ecosystem of products and services tailored for the caregiver industry, aimed at employers, brokers, and carriers. Leveraging their extensive experience in caregiving, they identified a critical gap in eldercare solutions within the US—a rapidly growing need—and positioned their brand to fill it with holistic eldercare offerings. This business model reinvention moved them beyond insurance, transforming them into a leading partner for eldercare solutions that support both employers and families.
- Solution: Through extensive research, PwC helped identify a critical need for a caregiving solution and pinpointed the ideal target market. Together we designed a user-centric platform aimed at busy professionals with limited eldercare experience which leveraged the company’s brand to establish a strong US presence. This brought innovation to the caregiving space, providing a streamlined, accessible support solution that redefined how professionals could approach eldercare.
- Impact: Within 9 months of the organization's business model reinvention journey, they generated an additional revenue stream of $8.5 million by merging digital technology with concierge services tailored for caregivers. Within a year, they surpassed their vision of a multi-channel product, successfully launching the platform across consumer, employer, broker, and carrier channels. The platform quickly gained traction, with employees from four employers adopting it within the first month of launch. Today, the insurance organization has established a dedicated US business unit of over 20 employees focused on supporting and expanding the platform—solidifying their commitment to innovation in the caregiving industry.
- The opportunity: Despite increasing consumer demand for in-home products, a medical supply manufacturer’s dependence on distributors left it with a limited digital infrastructure to connect directly with customers. Traditionally focused on TV marketing and field sales through physician referrals, the company’s lack of direct engagement with consumers and their healthcare providers has hindered its ability to support patient condition management effectively—ultimately impacting its potential to scale revenue in the in-home product market.
- The approach: A global strategy director enlisted guidance from PwC to help unlock the full potential of business model reinvention as a strategic growth lever. PwC addressed the opportunity through a strategic lens, deploying a BMR approach that was designed to support both immediate experiential needs and long-term operational success. By aligning BMR with broader business objectives, PwC helped the company build a robust framework for sustainable growth, positioning the company to thrive in an evolving market landscape.
- The impact: In just eight months, the company achieved $1M in incremental monthly sales and a 29% increase in traffic. Enhanced with Salesforce, lead conversion rose by 7.6%, driving new opportunities for re-orders and upsells. Additionally, the company has seen a 1,400% surge in returning customer revenue which further highlights the success of improving customer experience, satisfaction, and scalability enabled by touchless orders. These eCommerce gains allowed the company to self-fund, reaching full ROI and realizing the impact of their reinvention within the first quarter.
- The opportunity: A leading semi-trailer manufacturer redefined its market approach by launching "Trailer as a Service"—a subscription-based model enabling customers to access trailers flexibly without ownership or long-term leases. This innovative offering meets growing demand for asset-as-a-service solutions, setting the company apart in a competitive landscape and driving recurring revenue while aligning with customers' evolving needs for operational agility.
- The approach: The manufacturer successfully transformed its business from simply selling trailers to offering trailers as- a-service, empowering customers with flexible solutions for managing capacity as needs fluctuate. This shift involved building both business and technical capabilities, including an operational model and enabling technical architecture to support new services like a marketplace for renting and servicing trailers. The company managed this innovation while navigating the complexities of its existing dealer channels, ensuring alignment and maximizing market impact.
- The impact: The company leveraged help from PwC to build out enabling capabilities, upskill team members, and build and maintain the online marketplace where dealers and customers engage to procure trailer rentals and after-market parts. Along with the digital roadmap to enhance their IT and data capabilities, the program is set to deliver over $140 million in benefits.
- The opportunity: With the sector in a low-growth phase and significant pressure on profits and valuations, a telecommunications company was looking for new revenue opportunities that utilized existing assets and capabilities to reposition them for higher growth, lower CapEx markets.
- Solution: The company enlisted PwC to help identify key market needs, assess capabilities and analyze competitor positioning to determine high-value opportunities. PwC recommended a “data-as-a-service” business model, allowing the company to enter new markets with new buyers via digital business and insights services.
- Impact: Based on evaluation over the first 18 months, the new offering’s top-line earnings will be three times higher than core services. The company is also tapping into new value creation through partnerships and various other channel commissions.
Why PwC
At PwC, we’re here to support clients at each stage of their business model reinvention journey.
Whether you’re just starting to plan or already making changes, our flexible BMR solutions allow us to step in and add value whenever you need us. Our experienced teams offer us the ability to get in early and identify opportunities to help our clients through end-to-end business model reinvention strategies.
To better support our clients’ goals, PwC is making strategic investments, including:
- Expanded services, including the acquisition of Surfaceink, which expands our capabilities to offer product design and engineering services
- Industry-specific BMR insights with tailored perspectives that address the unique needs of each sector
- Focused offerings across five reinvention types: XaaS (anything-as-a-service); digital products; physical / connected products; ecosystem / platform plays; and channel innovation.
With PwC in your corner, you can confidently tackle today’s challenges, while building a resilient business for the future.
Our proprietary framework
Using PwC’s business model reinvention framework, we collaborate closely with organizational leaders to map out a plan that drives towards value creation and growth. Our focus is to use our human-led, tech-powered capabilities to address opportunities to help your organization evolve your business model and radically transform how you create, deliver, and capture value.
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Matthew Duffey
Global and US Business Model Reinvention Leader, PwC US
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