Companies across all verticals have rapidly started to look at collaborative ecosystems as a tool and a catalyst to capture market prospects and opportunities. Not too long ago, businesses operated within a boundary. But with the advent of digital media, much has changed in this front. And this has added to complexities in the industry landscape creating a need for businesses to adopt a different strategy; a strategy that demands creation of a strong ecosystem of partners such that it provides value to the customers.
Capturing new growth today essentially means being ecosystem ready. This helps businesses create a nexus of stakeholders to achieve a favourable and a profitable outcome. Taking this giant leap would mean looking at capabilities, people, strategy, technology etc through a new lens. This symbiotic relationship also enables businesses to harness the skills of the interested outsiders for unparalleled success.
This also explains the reason why an online classifieds platform chose to join hands with a leading e-commerce platform. The OLX-Flipkart tie-up focused around leveraging each other’s strengths to offer pooled benefits to the ever growing internet user base.
From ‘killing the competition’ to ‘befriending opportunities’, collaborative ecosystems have opened newer doors for creativity, brand buzz and revenues. Doing digital marketing for a decade, we have loved this concept and are always on the lookout as long as synergies exist and it creates better value for our clients as well as their customers in turn. Be it creating and using a single hashtag for all our clients for a Father’s Day event or be it the ultimate collaboration of HBO and Buy Books India to promote ‘Harry Potter’ movie premiere on HBO and sell ‘Harry Potter’ book series on Buy Books India, we have done it all!
Collaborative ecosystems are a strategic business partnership that allows brands to break the monotony and experiment with their day to day activations. It is also essential for brands that wish to deliver impact in an ever growing and cluttered market. Even the giant Apple had to break its monopolistic nature and collaborate with Best Buy to propel its engines of growth.
Collaboration today is at the core of any business. Businesses will have to be agile enough to tap on the right opportunity and be smart enough to execute it to perfection. Sounds like a win-win? A definite, we say!