‘The more you give, the more you get.’
This is the rule of the universe. The rule of abundance.
Interestingly, this psychological take was used as the basis for Dheeraj Pandey’s (Founder, CEO & Chairman at Nutanix) session about the success of platform ecosystems at the NASSCOM Technology Forum 2020.
A few takeaways that came out of the session:
- Ecosystems are about Customer Success – Make them feel valued!
Organizations sharing higher margins with their partners and/or customers will be making more revenues. A report by McKinsey and Company(2018) also emphasized this. Companies delving deeper into customer insights powered by data and offering solutions accordingly will win. It’s the dawn of a new era of Customer Success 2.0.
- Build stuff that people like – An enhanced experience!
Dheeraj shared excerpts from an article in The Economist where Satya Nadella talks about embracing open-source software. Boldly emphasizing ‘Microsoft loves Linux’, the platform opened new doors for customer satisfaction by integrating datacenters and service providers with Linux. They understood that customers are running workloads on both Microsoft and Linux and joining forces would only enhance customer experience. What an idea indeed!
- Building Customer Curiosity – Curiosity can be converted into Loyalty!
Building customer curiosity starts with building authentic customer relationships. Dheeraj talks about how we as audiences engage with shows, commercials or books that leave us with moments of curiosity. Moments sparking the need to learn more. Businesses too require to build this mysterious yet close relationship with the customers.
I’m suddenly reminded of the story behind the folktales of The Arabian Nights. Shahryar, a Persian king is (in) famous for marrying women and having them executed a day after their marriage as a result of the psychological impact of witnessing an unfaithful first marriage and thinking every marriage would be the same. This cruel practice is ended by an astute (business) woman Scheherzade who narrates an intriguing tale to the king on the first night only to leave it half-finished at a cliff-hanger moment. Intrigued, the king pushes her execution not once but for 1001 nights as she manages to hold his attention through curiosity thereby gaining loyalty.
Fair to say organizations need to be Scheherzade’s to their (Shahryar) customers!
Platforms are changing the way we look at things. Nonetheless, Mr. Pandey brings fresh perspectives on how businesses must look at platforms by approaching it the ‘human way’!
“The most successful platform companies don’t even call themselves platform companies, and that is hyper convergence,” he concludes!
How much are you ready to give as an organization? Shoot in ideas in the comments below.