There are Three Value Stages to Partner Ecosystem Evolution & Success (see diagram below). 1️⃣ Product Value Stage: - At this stage, a product has achieved product-market fit, and potential partners start noticing it. - Tactical relationships emerge, but they lack strategic depth. - There’s not enough stickiness between your product and the partners’ offerings to drive predictable revenue. - Transition to the next stage requires moving from product value to platform value. 2️⃣ Platform Value Stage: - Companies recognize that becoming a platform outperforms being just a product company. - Co-innovation and joint solutions with partners become essential. - Combining the platform value of development with the platform value of consumption (and other monetization models) leads to more predictable revenue. 3️⃣ Network Value Stage: - The ecosystem becomes inseparable from the product value. - Customers “come for the product but stay for the network,” which drive network effects created by the ecosystem. - Ecosystem value is recognized as an essential part of the business model. 🎯 Remember, reaching the third stage is crucial for long-term success. If companies remain stuck at the first stage, predictable revenue may be elusive. Having a strategic plan to progress through these stages is essential! 😊🌟 ***Watch my video explaining the 3 Stages in the link below*** #nearbound #ecosystemledgrowth #ecosystemorchestration
Great breakdown of the different stages. Strategy is key and the long term success is worth the hard work and grit.
Focusing on unlocking organizational & ecosystem potential
6moHere’s my video explaining the 3 Stages - https://www.linkedin.com/posts/allanadler_nearbound-ecosystemledgrowth-ecosystemorchestration-activity-7216838180463857665-TA2k?utm_source=share&utm_medium=member_ios