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why build a Digital Platform

Why Build a Digital Platform?

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Today, communication is almost completely through digital channels. To have a visible and findable presence in the marketplace, a digital platform must be present that fits the various stages of the customer journey. McKinsey & Company reports that digital platforms and ecosystems define the new competition. The leading competitors in any industry are now “Tech first” and have vibrant and aggressive digital platforms or ecosystems.

Digital platforms and ecosystems have become an essential part of the business landscape and are no longer the domain of only digital natives. Today, digital platforms satisfy a continuum of needs, from automobile insurance and real estate services to advice from doctors. In large part, even individuals now communicate via a digital platform to digital platform on sites like Facebook and online dating sites. But merely building a website is not what a digital platform or ecosystem is about. It is much more. McKinsey in their 2018 survey of 1600 C-suite executives found 5-year EBIT growth of 2.2% and 10% beyond. Companies surveyed by McKinsey with digital platforms had annual EBIT earnings boosts of 1.4% which outpaced non-digital platform companies by 1.1 % or nearly 4.5 times greater growth. Across products, sectors, and developed economies, McKinsey found that a single digital platform prevails 75% of the time.

Build a Digital Platform

Not surprisingly, the top reasons these digital platforms thrive are connected to network and scale effects, in tandem with the desire to secure end-to-end digital services. Moreover, the customer journey of the largest purchasing power groups of consumers demands an online digital presence to do business. Further, the digital native consumers expect thought leader content, expert advice, and customer reviews before they will trust doing business. Most digital active and digitally responsible customers give the rationale that they use digital platforms to make it possible to combine individual services and integrate them into full-service offerings.

Further, digitally active companies cite their digital platform presence in terms of their desire to develop a bigger base of customers across categories at scale. In the competitive business environment, with spreading digital platforms and ecosystems, and expanding networking effects-speed of first-mover advantages and winner take all dynamics will continue to become even more important for incumbents to consider and ultimately demand competitive digital platforms and ecosystems.

digital platfrom

As technology continues to revolutionize the market strategy of modern business, companies including startups are leveraging the digital platform and ecosystem to encompass the new shifts in customer interaction. Most responsible companies and startups are recognizing the necessity to establish digital platforms so they can integrate them into their business models to reach out to new customers and new marketplaces.

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A digital platform consists of multiple services, representing a unique combination of software and hardware services a company utilizes to deliver its digital strategy. Digital platform strategies are one of the fastest-growing markets. Digital platforms help businesses enhance user experience in order to attract new customers. The evolution of advanced technologies such as IoT, AI, Cloud, and analytics are playing a crucial role in driving the growth of the digital platform market. McKinsey’s survey strongly indicates new evidence for the power of digital platforms and suggests it is a winning operation model for digital strategy. A digital platform is the unique collection of tools and services an organization uses to deliver its digital strategy. Another way to look at a digital platform is it is a business model that allows multiple participants (producers and consumers) to connect to it, interact with each other and create and exchange value.

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Benefits of a digital platform are:  generate revenue, reduce costs, foster collaboration and innovation for new products and services, gain speed to put products on the targeted markets. For information and help on developing your digital platform or ecosystem, contact Mach1Design at [email protected] or give us a call at (469) 536-8478

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Lindsey McKay
Lindsey McKay
McKay Law, PLLC | Sulphur Springs Personal Injury Lawyer
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Mach 1 Design did a complete Digital Go-To-Market plan for our firm. Their suggested strategies were spot on!

Our web traffic has increased by over 500%, we are ranking for over 3500 keywords in Google SERPs, and conversions have grown systematically.

We are getting more ideal clients through our website, and their content marketing strategy is really working. We are ranking on page 1 in almost every search category for our unique value proposition. Five Stars and more!!
Daniel Pierce
Daniel Pierce
The Cub Lounge and Grille | The Original Shreveport Bar
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Mach 1 Design gets 5 stars in my book. Their digital go-to-market plan helped me make valuable changes to my business to attract new customers and tell the story of our business.

They are fast and affordable and have really opened our eyes to the powerful rewards of great digital marketing. They are helping us improve and make more money. Absolutely 5 Stars!!
Heath Hyde
Heath Hyde
Heath Hyde Attorney At Law | Federal Criminal Defense Attorney in Texas
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The website Mach 1 Design created is over the top!

Our phone started ringing immediately. Our digital go-to-market plan is our complete marketing playbook for the next 10 years. Mach 1 Design is fast, cost-efficient, and very convenient to work with. I give them Five Stars!!
Scott Lidji
Scott Lidji
The Lidji Firm | Dallas Personal Injury Lawyer
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Beautiful website! Got it through the state bar quickly. Mach 1 Design is fast and affordable. They get us cases through our website.

I highly recommend them to anyone in need of a quality digital marketing agency. Five stars for sure!
LAZRTEK.com
LAZRTEK.com
LAZRTEK | Truck Wash Business Opportunities
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Our new business started ranking immediately with Mach 1 Design's digital marketing help. They did a complete digital marketing strategy for us and are now executing it.

Our website traffic is up 300%, and we are getting qualified leads. The website they built is excellent and does a great job of letting our visitors understand who we are and what we do.

We definitely give Mach 1 Design 5 stars and our strongest recommendation. They have exceeded our expectations, and the results are tremendous.
Dakota Low
Dakota Low
The Law Office of Dakota C. Low | Oklahoma Personal Injury Lawyer
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I give Mach 1 Design five stars!

They designed and developed a high-converting website for me, and their content marketing strategy has been over the top. They produced over 30 thought leader content articles for me that I personalized. They are cost-efficient and provide great value.

Their AI-enhanced video has helped me win clients. I highly recommend Mach 1 Design. Very fast, affordable, and convenient to work with. Their digital marketing solutions are dynamic and award-winning.
Ray Hindieh
Ray Hindieh
214 Release: Hindieh Law | Dallas Criminal Defense Attorney
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Harold is great to work with. He knows his business, and I highly recommend him. Mach 1 Design is fast, cost-effective and convenient to work with. Mach 1 Design and Harold are our Digital Marketing partners. They’ve earned it! I received exponential results.
Jacki Tobar
Jacki Tobar
Aurum Title | Texas Commercial Escrow & Title Company
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THANK YOU AGAIN for making us a legit title company in our inaugural year!

Hats off to your website. I love what your agency has done. Sometimes you come across title agents’ websites, and they are not that exciting. I really love yours!
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