B2B hardware, services and equipment players have been trying to create ecosystems for quite some time, but the track record has been abysmal. It’s logical to assume that B2B companies will eventually learn how to build data-driven ecosystems that generate high-margin recurring-revenue businesses and create distinct competitive advantages, but why do B2B ecosystem development efforts fail? Our consulting work and related analysis point to five basic requirements. Succeeding at one or two of these requirements, but not all five, may get some players to first base, but getting to second, third and home base is where real value is created for customers and a sustaining ecosystem is established.
September 8, 2022