Build a Brand Ecosystem isn’t rocket science. While an “ecosystem” has been a buzzword in business for quite some time, it seems not many CEOs truly implement it in their organization.
Since the definition of an ecosystem is that it’s “a system or a group of interconnected elements, formed by the interaction of a community of organisms with their environment,” it’s not only about integrating social media and digital marketing.
But then what is it, and why is it essential to build it?
The Ideal Brand Ecosystem
Let’s have a look at some of the most successful brands that have built or are building an ecosystem. Amazon, Microsoft, Google, and Apple have a strong game, which consists of offering a myriad of products and services under the umbrella of their brands.
Amazon, in particular, has been expanding, by branching into food and the clothing industry with their acquisition of Whole Foods, and starting Prime Wardrobe, a premium subscription clothes service. However, Amazon is a convenience brand, which means people are not loyal to it but to the convenience it provides.
It would only take a strong competitor with lower prices for customers to potentially switch over. So, while Amazon does a great job of using its brand ecosystem to offer convenience, they have not built real brand affinity.
On the other hand, Microsoft dedicates to cultivating loyalty across its ecosystem. Microsoft owns different brands such as Windows and Xbox, which all have their sets of dedicated fans.
However, plenty of them come as fans of Microsoft firstly and appreciate the connectivity of their brand ecosystem. By creating products and services that work best when used together, Microsoft successfully nurtures brand affinity through it.
The Importance of a Brand Ecosystem
We’ve seen how ecosystems work on the examples of huge brands like Amazon and Microsoft. These examples show that building it provides a perfect chance for a company to grow.
Fortunately, we live in the time when technology makes it easier than ever to connect the various segments of your business. With all this in mind, it seems that building a brand ecosystem helps pave the way to the top.
Connecting with your consumers through different brand touchpoints makes building a positive brand-consumer relationship more natural.
You create the brand from the inside out and then project your brand values outward through the products and services you offer, digital marketing campaigns you do, and social media connections with consumers. It’s a full package that should be designed around delivering your brand promise to the customers.
Building a Brand Ecosystem
Not every company will be able to create a brand ecosystem. It depends on the systems you already have in place and whether you can integrate them. There will be plenty of internal questions you’ll have to answer as the CEO. It’s best to talk it over with a professional who could guide you in your brand ecosystem development strategy.
Making a more integrated ecosystem for your brand might take some thinking. However, it has its benefits, as seen from the examples of the most prominent brand ecosystems. Considering their immense success, many would argue that building a brand ecosystem is the top priority improvement you can implement for your company.