?? ECOYSTEM GROWTH STRATEGY: 3 Phases {Infographic)

? Thanks for Reading my LinkedIn Newsletter. It's FREE to "subscribe". ? Please Share it with your Network so they too may benefit. Thankyou! [Copyright ? 2021-2023, Frank Feather, QAIMETA Inc., All rights reserved]

? For high-value daily content, please Follow me at #QAIMETA and #AiFuture hashtags.

?? #ECOYSTEM #GROWTH #STRATEGY: 3 Phases (Infographic)

??? Business leaders around the world are increasingly turning to the ecosystem business model to achieve top-line goals such as growing core businesses, generating revenues from new products and services, and creating new value pools.

??? The appeal of ecosystems—interconnected sets of services through which users can fulfill a variety of cross-sectoral needs in one integrated experience—has only grown as the global pandemic accelerated consumers’ migration to digital.

??? Consumers are embracing this shift, with 71% saying they’re ready for integrated ecosystems. Indeed, by 2030 the integrated network economy could account for 25% of the total economy—up from 2% today—with global revenues of $70 trillion.?

??? There are 3 phases of ecosystem adoption: Define, Design, Build. Each phase benefits from design disciplines such as design research, interaction design, user-interface design, and, perhaps most notably, service design.

?? 1. DEFINE ECOSYSTEM STRATEGY

??? Shaping the ecosystem strategy requires focused, design-led work in three areas:

?

? Identify relevant trends.

Social, economic, and technological trends influence consumer behavior and what they want from their products and services. Forecasting these trends to develop scenarios that envision how consumers are likely to respond.

?

? Plan ecosystem value pools.

Focus on high-growth areas that align with business strategy and abilities. Use ethnographic and market studies to home in on customer segments with the highest value.

?

? Define core value proposition.

Leverage your distinctive advantages into a customer-value proposition, based on customer data, market trends, customer experience, and business strategy – again based on consumer trends.

?

?? 2. DESIGN ECOSYSTEM

??? Start from the customer’s viewpoint and desired value proposition. Consider 3 domains: consumers, sectors and partners, and products and services.

?

? Consumers.

Based on anticipated future consumer behavior, design your ecosystem. Map consumer journeys to envision consumer expectations as an interconnected end-to-end experience. Identify the shifts the company will need to make—for example, investing in new digital capabilities—and the partnerships it will need to?support the ecosystem.

?

? Sectors and partners.

An ecosystem is cross-sectoral, enabling consumers to navigate -- from one type of service, such as buying groceries, to a distinctly different one, such as buying insurance – in a seamless experience.

? Creating value across sectors.

Designing for the overall experience is most important. These cross-sectoral propositions will include complex partner relationships.

?

? Products and services.

Ensure your products or services are interconencted, whether they are physical, digital, or a combination thereof. This connectedness could be a “super app,” a digital platform, or a suite of offerings.

?

?? 3. BUILD and TEST the ECOSYSTEM

??? Create and test a flexible and agile operating model that is capable of not only continually rolling out new solutions but also managing the entire portfolio of value propositions, by addressing failures, branching into new areas, and pivoting as needed.

Source: Totally adapted and modified from Link. Infographic is mine. https://www.mckinsey.com/business-functions/mckinsey-design/our-insights/a-design-led-approach-to-embracing-an-ecosystem-strategy

?? Are you #QAIMETA ready?

??? Every business needs a composite QAIMETA triad strategy.

??? Message me for a free initial consultation on your QAIMETA options:

? Quantum Computing Strategy

? AI Digi-Transform Strategy

? Metaverse Strategy

??? In any customized format for:

? Boardroom or CSuite Briefing

? Employee Culture Seminar

? Motivational Keynote Speech.

??? NOTE: If you introduce me to others who might benefit from the above, I offer a generous Referral Fee. Ask me.

? Please check out my new Website at www.QAIMETA.net

? For high-value daily content, please Follow me at #QAIMETA and #AiFuture hashtags, and check out these resources.

QAIMETA STRATEGIES: https://lnkd.in/dYCfkD73

2.THINK FUTURE: https://lnkd.in/g_SVVBV

3.QAIMETA NEWS: https://paper.li/Futurist#/