Digitalization has established a new economic model: the platform economy. What was originally perfected by B2C companies such as Amazon, Uber or AirBnB now offers valuable impetus for manufacturing companies with a B2B focus. Which key attributes of successful platforms can B2B companies use for their own digital transformation? And how can these be implemented in practice?
The five success factors of the platform economy
In an increasingly interconnected world, it is essential for your company to understand the principles of the platform economy and integrate them into your business strategy in order to remain competitive in the long term.
In his book “Winning in the Platform Economy”, Alexander Graf, author and entrepreneur, has identified five central attributes that distinguish successful platforms. We have read it for you and summarized the most important findings, because they can be profitably interpreted from a B2B perspective:
1. Uniqueness of the offer and optimal customer experience
Your biggest asset as a B2B company? The uniqueness of your products, created through research and development. While pure dealers are often interchangeable, you as a manufacturer have a unique selling point. However, to fully exploit this advantage, you need more than just a good product – the provision of information and customer-oriented offers must also be convincing.
How good is your product information management (PIM)? Do you offer your customers user-friendly product configurators and customized solutions that can be adapted to their specific needs? An excellent customer experience is increasingly becoming a key differentiator – even in the B2B sector.
2. Independence from your own product range
As a manufacturer, you are naturally tied to your product range. But have you considered strategic partnerships to expand your offering? The platform economy teaches us that a broader range is possible without additional warehousing costs – whether through collaborations, as a marketplace provider, or as part of drop shipping.
An important rule of thumb for the future: customer access, for example via a one-stop-shop customer portal, will become even more important than simply increasing the breadth and depth of manufacturing. Your portal should offer your customers everything they need to solve their problems from a single source.
3. Accelerated business model development through modularity
In a fast-paced digital world, you can't afford to spend years refining new business models. The platform economy inspires the rapid development and testing of new approaches. The key lies in reusing proven business building blocks (composable business) and flexible IT components (composable applications).
This modular approach enables you to use resources efficiently and accelerate the time to market for new products and services. Incidentally, our Business Model Canvas is an excellent tool for discussing and repositioning the fundamental relationships of your business model.
4. Scalability through modern IT architecture
For many B2B companies, legacy monolithic IT systems are an obstacle to scaling. Platform companies, on the other hand, rely on modern, cloud-based architectures that enable global expansion.
A future-proof IT architecture is the key to greater scalability for you, too. It all starts with a clear architectural vision – and the path to achieving it usually involves several initiatives tailored to your resource situation. The investment is worth it: not only will you improve your ability to scale, but you will also be able to tap into international markets more efficiently.
5. Use data as a strategic resource
In B2B, personal sales teams and complex ERP systems like SAP S/4HANA often dominate customer care. However, digital data is becoming increasingly important – especially when it comes to understanding customer buying behavior and needs along the entire customer journey.
The challenge is to link digital and personal interactions in such a way that a seamless customer experience is created. Actively involve your customers in the design of such customer journeys and think holistically about data collection and management – in the sense of value-driven data management.
Seize these opportunities for your B2B business
Combining the five key attributes – uniqueness, independence, speed, scalability and data utilization – enables you to work more efficiently, expand your offering and tap into new markets.
The first step? An honest assessment: Where does your company stand in relation to the five success factors of the platform economy?
And this is precisely where Unic can support you
Let's develop your digital vision together: in a personal meeting, we will analyze your current situation and identify the biggest levers for your digital success – from product vision to technical implementation.
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