From Customer Centricity to an Everyone-to-Everyone Economy (E2E)
We now live for some time in a world with rapidly developing technologies, high interconnectedness and with easy access to information. Aiming to benefit from these developments, businesses often use customer-centric (CC) approaches. They are individual-oriented.
Marshall (2014) however, argues that businesses will change from this individual-centered approach towards an everyone-to-everyone (E2E) approach. What does this mean? An everyone-to-everyone economy is an economy in which customers and businesses are collaborating intensively across the whole range of value chain activities
. Instead of businesses themselves being preoccupied with design, creation, production, marketing, distribution and funding, these activities are performed in collaboration with consumers and various partners: co-designing, co-creation, co-production, etc. In other words, it is an integrated framework of customer and businesses collaboration to create value, and in which transparency shapes the efficiency and trust between customers and businesses. In such a setting, organizations are opening up to embrace external influences of consumer; engaging in partnerships; and speeding up investments in digital technologies.
THE FOUR CHARACTERISTICS OF THE E2E ECONOMY
Marshall's mentions 4 things that are characteristic for the E2E economy:
- Awareness that customer experience is contextual to each customer’s experience, place and point in time
- Cognitive Intelligence
THREE PRINCIPLES OF THE E2E ECONOMY
To summarize the E2E economy, such an economy bears on 3 main principles:
- The success of a company is determined by the ability of delivering the greatest experience through the right collaborations.
- There will be a pressing demand for contextual and predictive data so as to obtain a greater contextual understanding of customer experiences.
- Companies need to protect their competitive advantages, but simultaneously they need to open up to external influences.
Marshall, S. B. A. (2014) “The Next Digital Transformation: From an Individual-centered to an Everyone-to-Everyone Economy” Strategy and Leadership Vol. 42 Iss. 5 pp. 9-17