How is your enterprise going to grow in the next five years? The stakes are high to get partnering right to achieve higher growth in the digital era. Recent MIT CISR research found that companies with above average reach (new customers) and range (new products) from digital partnering also had higher revenue growth—nearly 10 percentage points above industry average.[foot]MIT CISR Ecosystem Survey 2017, n=158. Reach and range via digital partners are significant predictors of revenue growth. Our ongoing research on digital partnering includes the survey and interviews with more than seventy executives in 2018 to 2019.[/foot]
Digital partnering refers to increasing reach and range via digital connections with other companies. These connections enable you to have more partners at a lower cost and develop unique value propositions while focusing on what you do best. In this briefing,[foot]A version of this research was published previously as Ina Sebastian, Peter Weill, and Stephanie Woerner, “Partnering to Grow in the Digital Era,” The European Business Review, March 29, 2020, https://www.europeanbusinessreview.com/partnering-to-grow-in-the-digital-era/.[/foot] we introduce three digital partnering strategies, and describe how Ferrovial, a Spanish transportation company, is pursuing a strategy to increase both reach and range via digital partners with its WONDO startup.