“You build it, and people will join” is the best approach that brands and businesses can take while creating their platform strategy. We believe that the rise of platforms is driven by three disruptive technologies – cloud, mobile, and social (digital). When these three fits in harmony it creates a globally accessible network for people to contribute, create, and run businesses – this is the platform, and we help you build a strategy for the same.
Best Platform Strategy Approach
Platform Strategy for Mobile Applications
Building Effective Platforms
What Customers Say About Our Experience
We always connected dots across ecosystems
What industries can benefit from a platform strategy?
A platform strategy can benefit a wide range of industries, including:
- Transportation and Mobility
- Financial Services
- Education and E-learning
- Real Estate
- Gig Economy
- Manufacturing and Supply Chain
- Energy and Utilities
- Agriculture and Food
These are just a few examples, and the potential for platform strategies spans across many other industries.
What are the benefits of a platform strategy?
A platform strategy offers several benefits to organisations that adopt it:
- Increased Reach and Network Effects
- Scalability and Flexibility
- Innovation and Ecosystem Development
- Enhanced Customer Experience
- Monetization Opportunities
- Data-Driven Insights and Decision Making
- Competitive Advantage and Disruption
It is important to note that implementing a platform strategy requires careful planning, ecosystem management, and continuous adaptation to meet evolving user needs.
What are the key components of a platform strategy?
A platform strategy typically consists of the following key components:
- Core Offering: The platform’s core offering defines the value proposition it provides to users.
- Network Effects: Network effects occur when the value of a platform increases as more users and participants join the ecosystem.
- Multi-sided Business Model: Platforms typically operate on a multi-sided business model, where they serve and create value for multiple user groups or stakeholders simultaneously.
- Ecosystem Management: Managing the platform ecosystem is crucial for its success.
- APIs and Integration: Application Programming Interfaces (APIs) play a vital role in platform strategies.
- Data and Analytics: Data is a valuable asset in a platform strategy. Platforms collect and analyse vast amounts of data generated by user interactions, transactions, and behaviour.
- Platform Governance: Establishing effective platform governance is essential to maintain trust, fairness, and compliance within the ecosystem.
- Continuous Innovation: Platforms need to foster a culture of continuous innovation to stay relevant and competitive.
What is a platform strategy?
A platform strategy is a business approach that revolves around creating and managing a digital platform as a core component of a company’s operations. It involves leveraging technology to facilitate interactions and transactions between multiple participants, such as users, suppliers, developers, and partners. The platform serves as an intermediary, providing a foundation for various services, products, or applications to be offered and exchanged within an ecosystem.
How does platform strategy help your business?
A platform strategy can provide several benefits to businesses:
- Revenue Generation
- Increased Market Reach
- Enhanced Value Proposition
- Scalability and Efficiency
- Collaboration and Co-creation
- Competitive Advantage
It’s important to note that implementing a platform strategy requires careful planning, effective ecosystem management, and ongoing adaptation. However, when executed successfully, a platform strategy can drive business growth, innovation, and customer value in today’s digital landscape.