What Next Once Your Brand 'Matures'?

In today's rapidly changing business landscape, brands are constantly seeking new ways to stay relevant and competitive. However, as brands mature, they often face a new set of challenges that require a different approach to growth.

In this article, I want to introduce the concept of platform-focused growth as a way of dealing with brand maturity and why it's crucial for mature brands to shift their competitiveness from a pipeline-focused model to a platform-focused model.

Platform-focused growth is the idea of building and leveraging a platform to create network effects, generate revenue streams, and drive growth. Instead of relying solely on a pipeline of products or services, companies can create an ecosystem of products, services, and partners that work together to deliver value to customers.

So, why do 'matured' brands need to shift their competitiveness from a pipeline-focused model to a platform-focused model?

Platform-focused growth allows companies to tap into new revenue streams.

By creating a platform that allows partners to offer their products and services to customers, companies can generate revenue from multiple sources. This not only increases revenue but also creates a more resilient business model.

Platforms create network effects.

The more customers and partners that join the platform, the more valuable it becomes to everyone involved. This creates a virtuous cycle where the platform becomes the go-to destination for customers and partners, strengthening the brand's position in the market.

Platforms allow for greater agility and innovation.

With a pipeline-focused model, companies can become entrenched in their existing products and processes, making it difficult to pivot or innovate. Platforms, on the other hand, are designed to be flexible and adaptable, allowing companies to respond quickly to changing market conditions and customer needs.

Platforms foster collaboration and community.

By bringing together customers, partners, and other stakeholders, companies can create a shared sense of purpose and a culture of innovation. This can lead to new ideas, partnerships, and even products that would not have been possible with a pipeline-focused model.

Thinking of Platforms: Think Amazon

Amazon started as an online retailer but has since become a platform that enables third-party sellers to reach millions of customers. By opening up its platform to others, Amazon has been able to create a virtuous cycle of growth, where more sellers attract more buyers, which in turn attracts more sellers. This has allowed Amazon to expand into new product categories and geographies without significant investments in production or distribution.

To remain competitive in today's market, matured brands need to embrace this new approach and build platforms that deliver value to customers and partners alike.

In the next article, I will share the major benefits of 'platforming' a brand's competitiveness.

About Me:

I help organizations and individuals who need to package, distribute and monetize their experience, expertise, and connections to gain influence in their area of practice. Click here to learn more about how my clients have achieved the goals they desired as consultants, coaches, thought leaders, and trainers.