Previously, brand growth meant that the company was expanding its audience and increasing production, adding new items to the product line. Modern brands do not just grow in their development. They adapt to consumer demands and turn into ecosystems where different products and services work together. This simplifies the lives of customers and brings profit to the business. In this article, I will tell you how successful ecosystems work and what their features are.
What is a brand ecosystem?
A brand ecosystem is a complex of interconnected products, services and services united under one brand. It is not just a set of goods, but a single job function email database system where everything works together. The main idea is to offer the client not one product, but convenience in different areas of life.
The emergence of ecosystems is a response to changes in the world and market needs. People increasingly value ease of use and personalization. Business can provide this with the help of modern technologies, including at the global level. As a result, systems are created that are difficult for customers to leave.
Pros and Cons of Brand Ecosystems
For consumers, ecosystems are convenient because all the necessary products and services work in a single space. This provides personalization, time categoricality in public posts and personal communication – should you be softer or not? and money savings. For businesses, systems become a means of retaining customers, increasing their loyalty and a competitive advantage.
However, the implementation of ecosystems does not always satisfy consumers. Dissatisfaction on the part of clients arises in cases where additional services are offered without the possibility of choice. For example, a person installs a banking application for managing finances, but gets a bunch of different services in one application and an overloaded interface, in which 90% of the functions are completely uninteresting to him.
Some consumers prefer to choose the services they need themselves rather than receive all the ecosystem’s offerings by default.
Among the most common disadvantages of developed brand ecosystems, users note the “heaviness” of applications. Due to numerous additional functions, applications become too large and take up a lot of space on the phone. At the same time, certain services are simply not needed by the consumer. But some people, on the contrary, see the advantage in the fact that several applications can be replaced with one super application.
In general, like any product, brand ecosystems betting data will always have both supporters and critics. Perhaps the negative consumer impressions are due to the fact that sometimes brands really go overboard in promoting their products and services. But the very existence of ecosystems indicates their demand. The success of companies like Apple or Google demonstrates that convenience and integration of services remain key factors for millions of users.
Let’s look at examples of large brand ecosystems, their features and operating principles.