Over the past two decades, global giants such as Nike and Uber have thrived by embracing online collaboration, connecting different customer groups to create value and in 2023, the top 10 global brands all had a significant online presence.
Creating this requires understanding the power of the network effect. Regardless of the industry an organisation is in, having a user friendly website where customers can easily interact with your brand adds value for customers which creates a community and drives revenue. For instance, travel platforms have been known to connect hosts and guests directly. This direct communication builds trust for customers which leads to brand loyalty. Or in finance, online learning platforms can offer deep insights, fostering a trusted community.
Whatever sector your organisation is in, implementing a digital platform strategy can unlock a variety of benefits improving customer experiences to increase revenue. By embracing these principles, ambitious organisations can confidently navigate the intricacies of the digital landscape, paving the way for a successful future.
