The law of supply and demand is fundamental to setting or creating value.
If the supply of an item exceeds demand then the value of that item goes down. If the demand exceeds the supply the value increases. What if we thought of our online experience as a supply and demand equilibrium?
Resources (e.g. specific types of content, tools, apps, relationships) are used by specific individuals for specific activities. However, if those individuals have no need (demand) for certain resources, then the value of the engagement with those resources and the system delivering the resources is diminished.
Similarly, if the demand for certain resources is high, and the supply of those specific resources is limited, there will potentially be a detrimental impact to the outcome of the activity. If the demand for certain types of resources remains unsatisfied, the individual requiring those resources will likely seek another avenue where their demand can be adequately addressed.
The goal for obtaining high engagement value is to strike an equilibrium between the resources supplied and the demand specific individuals involved in specific activities have for those resources. When the supply of the right resources at the right time meets the demand for those resources, the value of engagement increases and a personalized, contextual experience is achieved. The graph below shows the sweet spot of engagement value where supply meets demand and the appropriate resources are delivered to the right person for the right activity.
As an added element of complexity, this supply and demand equilibrium must be maintained as a system scales. At scale, the supply side of the equilibrium must accommodate a theoretically infinite spectrum of resource supply variables (different types of users, different locations, different content repositories, different applications etc.). The demand side of the equilibrium must also scale to address an exponential increase in demand activities (demand to vary by user role, activities, locations and relationships etc.).
360ecosystems Engagement Management platform intelligently manages the supply and demand of resource delivery for any kind of user, doing any kind of activity – at any level of scale. Our approach guarantees you will increase your engagement value, through the automation of personalized experiences that are contextualized to meet the needs of everyone in your ecosystem.
Read more about ecosystems and how they increase engagement across your entire partner program by downloading our eBook: "Ecosystem Orchestration has landed and is here to stay", or connect with us to see how we make it easy to master your own supply and demand system.
