As businesses undertake digital transformations, they have to rethink what customers value most and create operating and business models that take advantage of what’s possible through multiple digital platforms.
The challenge for businesses is to quickly transform to reach existing and new customers without being hindered by legacy models and legacy thinking.
Technology has always been used as a tool to drive operational efficiency, optimize go-to-market strategies, and improve competitive differentiation. A customer’s experience on a digital platform determines how personalized and sticky that relationship is with a service provider or a brand. The ability to quickly respond to shifts in the market and introduce new offerings that provide opportunities to innovate and grow are causing companies to rethink existing licensing, distribution, traditional subscription, and basic paywall models, which in turn means revisiting their monetization platforms.