Drive growth as a multi-sided platform provider
Choosing a multi-sided platform growth model requires a massive leap in terms of technology, operating and business models. Intelligent technologies are at the center. Embedding a cognitive, intelligent automated platform that turns the key strengths of an operator into tradeable assets is vital, enabling them to enter existing or form new value chains and even enter new industries.
Operators and CSPs must develop a multi-sided business model to better compete with platform companies that already have that advantage. They should look to create the right value exchange with high speed internet services and smart connectivity … both within and outside the home … to drive ecosystem partnerships. They can do this by leveraging concepts like outcome-based connectivity monetization and smart connectivity (for both wholesale and retail).
Grow the footprint in the connected home
Smart homes offer a rapidly-growing opportunity to leverage current brand loyalty to create platforms for a broad range of services. Innovation could come in the form of an Alexa-type model where new skills can be added to create a stronger value proposition. The key is to identify areas where third parties can be brought into an ecosystem to drive greater consumer value, while you provide foundational tools and reach for things for which you can charge a fee.