Online exchanges and platforms are a growing feature of digital competition.
Digital businesses thrive when they can engage more people, more often.
Companies and startups are building and enhancing digital engagement platforms and marketplaces to create new interaction models, revenue streams and to increase outcomes from their digital ecosystems.
As a result you see businesses leveraging these platforms, becoming participants to derive their own business value.
This ecosystem is important to strategize for as companies are seeing new ways to create monumental business value by bringing “actions” closer to “intentions.”
Ibotta is the premier destination for rewarded shopping on mobile. The company partners with leading brands and retailers to offer offers on groceries, electronics, clothing, gifts, home and office supplies, restaurant dining, and more.
Matic is a technology driven insurance agency disrupting the homeowners insurance space by integrating with mortgage lenders. Matic is an independent insurance agency that works with multiple insurance carriers so that we can provide the best recommendation to you. This often results in the best policy and the best price.
The partnerships platform for mobile commerce, Button powers mobile partnerships that are faster, simpler, and perform better. Their marketplace features Merchant brands who host Marketer brands (participants) within their own mobile apps.
Walgreens' Photo Print API has been implemented by over 75 app experiences / developers. The service has created a digital method to interact with the brand in contextual environments and as a result drives consumer traffic into Walgreens stores.
Nationwide has created a developer advocacy and portal program, and wrote API’s that enable the company to write renter insurance policies in 3rd party apps, like Sure. This enables Nationwide to leverage their partners traffic to create new policies / customers.
Amazon offers Discover card members the ability to hook up their credit card and use their Cashback Bonus money to go towards their online purchases. This is enabled by Discover's API and their partnership with Amazon, and driving utilization with their customer base.
What we’re trying to illustrate to you is:
If you are a marketer or responsible for growth in digital activity / outcomes, you need to start thinking through and executing on the idea that being a participant is a great way to find new volume and to increase conversion rates.
And that for legacy organizations, going beyond the mere digital delivery of products or services and setting up an online marketplace can correlate with markedly improved performance and customer satisfaction.