You can be the next Apple by closely analyzing the operations of the world’s largest technology company. Apple Inc.’s business strategy in 2020 can be summarized as providing the best customer experience with “the best products on earth”.
The multinational technology company is well known for its iMac and iPhone. Apple differentiates its products and services on the provision of seamless experiences that empower users to produce their best work. Apple uses technology to make the world a better place.
Read on for three of Apple’s business strategies and how you can use them to build your startup into the next technology giant.
Apple products work best when used with other Apple Inc. accessories, devices, and services. For instance, Apple smartphones can only use Apple applications such as iTunes. Apple takes pride in its products enabling users to work simply productively, creatively, and collaboratively. They control their product quality by creating as much of their product’s software and hardware as possible.
You can also do this at your startup by controlling as much of your product’s or service’s production as possible. Relying on a third-party provider for essential parts of your production could lead to your high standards not being met.
Offering Products As A Service
The service division of Apple is set to be a Fortune 500 company according to Apple CEO Tim Cook. This is because customer service is a priority for the company. Apple has innovatively transformed its iPhone 11 into a service by retailing it on a monthly subscription. A customer may now access an iPhone 11 and Apple TV+ for $17/month. The phone comes with technology and thousands of apps on the App Store that makes work smoother and more enjoyable.
Apple’s readiness to partner with the best developers and companies makes it possible for its clients to have maximum benefits from the company. Apple is unlocking benefits for its customers in the education, AI and health services by partnering with leading technology companies like Accenture, Cisco, Deloitte, GE, and IBM to revolutionize service delivery. Some of these tech companies might open up in Phoenix.
Following in Apple’s footsteps, you should also make customer service one of your key values.
Strengthening The Apple Ecosystem
Apple’s competitive advantage is largely due to its ecosystem. In tech terms, an ecosystem is a group of devices with software that creates a single collaborative network. An ecosystem provides opportunities to leverage relationships with existing customers to offer additional products and services.
Apple products are all designed to work together. An owner of an iPhone is likely to have an iPad, a Mac, an Apple TV, an Apple Watch, AirPods and most recently, a HomePod. In his address early this year, Apple CEO Tim Cook acknowledged that Apple Watch had boosted its ecosystem.
Apple Watch is a wearable health tracker that allows the user to exercise while remaining connected to their computer, phone, and other Apple accessories. 75% of Apple Watch purchasers are reportedly new Apple customers who will end up buying other Apple products.
Apple is successful because they vertically integrate their products, they focus on customer service and they have a strong ecosystem. Copy these strategies and you could become a huge success story too. For more tips on growing your startup business, read the rest of our blog.