Why a partner ecosystem is the right way to maximize your business value proposition
By: Ashleigh Gray, Vice President, Strategic Partnerships & Bertrand Karerangabo, Vice President, Digital Strategy
Establishing a clear value proposition is no mean feat. For companies who have been operating for decades, or routinely bring new products and services to market, it’s easy for the overall brand value and each line of business value to get muddy.
However, you’ve reached a point of arrival with a well-defined, differentiated and sustainable statement of your customer benefit. Congratulations!
The next step is to turn your value proposition into action. While your business likely has all pieces of the puzzle in place in order to execute value-to-market, it’s time to understand how to bring that value to your customers as efficiently as possible. In other words, you have to choose which parts of the value stream of your products and services are unique to your business, and which can be outsourced or managed by an existing platform, SaaS product, platform or service.
Why choose an ecosystem partner?
The reason for this is evident. It’s not advisable for the modern company to bring all the capabilities they need to serve their customers in-house. Even recruiting all the talent required to execute digital touchpoints with customers is nearly impossible, to say nothing of the cost of building all the digital experiences a modern business needs from scratch. As one of our recent podcast guests put it, “It’s a pipe dream.”
Focusing instead on what’s unique about your business, in a pragmatic fashion, frees your executive team to decide which functions of the business are critical to delivering your unique value to the market, and which can be administered through partnerships with third parties that are mutually supportive.
Building a network of partner companies to serve your value proposition is itself a strategic play, requiring not only clarity about your own business, but also the best partners available in the market. This is where our Rangle consultants often step in for our clients. We believe in smoothing the path-We have always advised on the best tools and platforms for our clients, based on their business and growth strategy, and partnered with them to build the unique digital products that differentiated their offering. Now, we have formalized partnerships with our most-recommended tools and platforms. This is about more than just the best tools and enabling technologies-it’s a way for our clients to cut through the complexity, get a seamless end-to-end experience, and deliver the best outcomes for their customers and end users.
It’s also not only about the tools as they benefit individual lines of business or teams in your organization. There is value in bringing together an ecosystem of partners that is greater than the sum of their parts. An optimized, end-to-end solution that includes partners who share your business’ goals and customer focus will deliver greater value to your customer than a pipeline that is merely serviced by platform providers without the same, shared context.
Optimizing your business strategy
In bringing together an ecosystem of trusted partners who work as a single team on your business goals, you allow your partners to contribute to the strategic direction of your products and your business. Rather than a lack of centralized control, what you get is the assurance that you’re all focused on the same outcomes-a win for your business is a win for them, too.
Working with an organization like Rangle, with our clear methods and practices for partnering with best-in-class tools and platforms like Contentful and Figma, you also derive great value through our shared insights. More than merely putting the tooling and enabling technologies in place for your teams, ecosystem partners will help create the systems and processes that will make your teams and digital products successful. We can think outside of the box, partnering on innovative ways to use the tooling, and create new business models to take products and services to the next level.
These benefits to our clients explain our focus on partnership ecosystems, and why we think bringing together networks of expertise will have compound effects for them. With carefully selected partners, we can build digital products for our clients that enable their teams to do their best work, provide best-in-class systems and platforms to support their customer experience, and get them generating market value and insights faster. Our partnerships naturally support our focus on not just building best-in-class technical solutions, but removing organizational complexity and blockers in large enterprise businesses that prevent digital products from achieving the best outcomes. The services ecosystem we provide is composable, optimized for each client and their unique business needs. In other words, these partnerships aren’t about us, and they’re not about a packaged, one-size-fits-all solution-they’re about providing the best outcomes for our clients.
Partnerships are business strategy for the 2020s
Traditional companies outsource their problems. For modern, digital-first businesses, collaborating to ensure the best methods for customer responsiveness with the right partners is the key to creating customer experiences that win. This new way for enterprises to bring capabilities into their company just makes sense-they not only get speed and quality, but also an independent-functioning arm of their business without the usual M&A aftermath concerns, like merging cultures, consolidating departments, and process confusion.
Originally published at https://rangle.io on March 31, 2021.