On this episode, Kenny Browne, Founder and CEO of Partner Fleet, gives a masterclass on building an ecosystem business model.
To boost revenue effectively, understanding customer ecosystems and collaborating with partners is crucial. These ecosystems are shaped by customer needs and their interactions with partners. Kenny advises businesses to join existing ecosystems, map customer behavior and prioritize ecosystem-led growth.
It's essential to recognize customer needs and choose ecosystems that match those requirements. Targeting the largest cluster of potential customers and utilizing partnerships to reach them efficiently is key. Kenny says that building an ecosystem strategy is an ongoing process. By gathering comprehensive information, you can avoid the trap of survivorship bias.
Focusing on post-sales ecosystem partners allows businesses to extend customer lifecycles, reduce churn, and explore new markets, leading to significant revenue impact. Kenny gives real-world examples to demonstrate the success of this approach, emphasizing the need for continuous analysis and adaptation in a dynamic market.
Customers play a defining role in the ecosystem, and businesses should engage with prospective customers beyond those who submit leads. Leveraging partnerships and influencers makes it easier to enter new markets and capitalize on your existing ones.
Resources mentioned:
Kenny Browne - https://www.linkedin.com/in/kennybrowne/
Partner Fleet | LinkedIn -https://www.linkedin.com/company/partnerfleet/
Partner Fleet | Website - https://www.partnerfleet.io/
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