In the era of digital connectivity, creative ideas tend to lead but revenue streams tend to lag. In general, few customers are consistently engaging, a majority couldn't-care-less, and there is an indecisive in-between segment. How can the supply chain actors effectively attract buy-ins from their target customers?
The challenge upon supply chain participants is to build trust with the different categories of end users. For the couldn't-care-less, the solution is to guarantee they get what they pay for. For the engaging, suppliers should interact with them qualitatively eg knowing the future demand and special needs.
The indecisive in-between segment must not be forgotten. Their perception about price or value and fear of bad decision making must be addressed. To motivate them to buy, suppliers should add extrinsic or intrinsic value eg promising something new to meet or exceed their expectation.
Creativity and marketing aside, cost structure and revenue streams impact on the viability of any business. A business would only be profitable and sustainable if its structural elements work in tandem. Deploying business knowhow to create, capture and deliver value to all customers must be the mission of all entrepreneurs!