It’s not the best product that wins; it’s the best ecosystem of products
LONDON, UNITED KINGDOM, May 19, 2021 /EINPresswire.com/ — In an article published on Business Reporter, the development of a digital ecosystem is described as an essential strategy for B2B companies.
These days, 95% of B2B companies offer a subscription product. However, as Dan Saks, co-founder of AppDirect, says: “the companies that are really thriving in this new environment are creating ecosystems.” It’s no longer the best product that wins; it’s the best ecosystem of products.
According to Saks, the key to creating a successful digital ecosystem is making sure you have the right mix of technology, strategy and expertise so that all the elements within the ecosystem work together seamlessly. The focus must be on delivering an exceptional customer experience, especially when user journeys involve multiple handoffs between different providers. Partner management is also critical: after all, without happy partners you don’t have an ecosystem.
Achieving this requires workflow automation so that essential processes such as billing and CRM operate optimally and robustly, ensuring that customers are given a smooth and satisfying experience within the ecosystem.
The traditional ecommerce model is underpinned by catalogues, inventory and one-off transactions. Saks points out that B2B subscription commerce is different: it’s more dynamic and requires different technology and a different mindset. “You have to think beyond one-time transactions, “says Saks, “and build a strategy around supporting customer relationships that change over time.”
Six of the world’s top seven companies are ecosystem-based. It’s clear that digital ecosystems with subscriptions at their core are the path to success in the digital economy.
To learn more about subscription commerce, read the article.
•• About Business Reporter ••
Business Reporter is an award-winning supplement published in the Sunday and Daily Telegraph, City AM and online, delivering news and analysis on issues affecting businesses to a global audience. It also hosts conferences, debates, breakfast meetings and exclusive summits.
•• About AppDirect ••
AppDirect offers a subscription commerce platform that removes the complexity of building a recurring business model. Sell any product, through any channel, on any device – as a service. Our platform opens up endless opportunities for commerce innovation, giving businesses the freedom to grow. We power millions of subscriptions worldwide for organizations like Jaguar Land Rover, Comcast, Sage, Keller Williams, and ADP.
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