Brands looking to be successful in the world of fragmented, distracted and time-crunched consumers, might not be rated just on how well they serve customers’ needs, but how well they work with others to combine forces.
In the latest edition of its Sentinel Report, software developer and technology services company Globant suggests companies that find partners to provide a “seamless ecosystem” will be well-positioned to meet consumers’ needs in the future.
“The main goal for brand ecosystems is to lean on the best attributes of both companies to improve the offering with the clear goal of making life easier for consumers,” Martín Migoya, Globant CEO and co-founder, tells Marketing Daily. “As a result, consumers are often more engaged with brands and share a greater stake in their success.”
In the report, the company explains these ecosystems as brand networks that provide a number of services and products that encourage greater consumer loyalty and behavior. The ecosystems will be built around four key advantages:
Rather than the more traditional brand partnerships of the past, these ecosystems are more than “simply adding features to you existing product for the sake of adding them,” Migoya says. “An ecosystem allows for healthy and organic growth for those that are involved,” he says. “Brands need to make decisions based on a broad understanding of customer expectations and habits. With that knowledge in hand, they can create more tailored services, products and interactions.