Organizations that are in the business of customer centricity and (digital) product experiences, should really look beyond the conventional methods and business models that are out there swirling around, and introspectively evaluate what kind of in-house engineering and productization chops they really have among their talent. Why? Because the ability to own and drive your innovation and product cycles is imperative in maintaining; business longevity, market relevance, brand power, consumer trust and technical scalability through intellectual property (IP) ownership. Your value and power is in your products and the IP ownership and exclusivity of your catalog and customer experience. So, why not focus on creating products that will eventually provide a seamless experience across your digital architecture, and that will give your customers a seamless digital experience of inter-connectivity and intelligent automation that follows and goes where they need it the most?
What I mean is, why not focus on digitally transforming your business into an intelligent enterprise vs. relying on buying products and services you ultimately will not be the master of, ever? Additionally, “data is king” in today’s digital world and having the ability to understand your data, triangulate data accuracy and consume the data on-demand is key to your business, especially if you can merge it with product ingenuity. Plug and play should be your motto. Plug your data and leverage it (play it) in to every product and see your digital architecture grow. Doing so will allow you to create and monetize new business models that will aid in creating product expansion and product efficiency >> delivered straight to your customers. You’ll bring the power of digital to your customer’s fingertips! If you don’t control your products across your ecosystem, and don’t understand your data, you’ll always be at the mercy of someone else, and withheld from exploring the art of the impossible. No one should know your business and your customers better than you!