Digital platform economy
Why
The digital platform economy is on fire! And that means the race is on to own any given domain by being the first to introduce game-changing digital platforms.
Key industry challenges
Digitalization affects everyone and there’s demand for all kinds of digital tools
The need to provide digital tools that connect and benefit all players
How to best turn custom software designs into platform products that can create significant ROI
The need to process huge amounts of data from platforms
What
The success of digital platforms is directly related to the user experience. Each platform has a unique business model, different operating principles, and a distinctive customer base and ecosystem – as well as different ties to the brick-and-mortar world. Success in this field requires smooth onboarding, continuous value creation, and practical tools.
Innovation platforms encourage creativity, transaction platforms create connections, and any professional tool can be turned into a platform with the help of the right partner. To make sure platform investments make sense, it’s important to design for a fast return on investment and to be sure that the roadmap and rollout plans support your business goals.
How
For us, creating a platform is about smart roadmapping and design. We know how to create links between platform business models, ecosystem support structures, and technical platform development.
Ensuring positive network effects and scaling
Everything starts with understanding how the platform makes sense in terms of business: what are the ecosystem members willing to contribute and what kind of concrete value will they receive? Platform transactions can come in many forms, and don’t always involve money. The first step is to find a win-win value creation model.
Making a smart rollout plan & roadmap
The rollout plan is unique for each platform and includes things like which ecosystem members to onboard, what content needs to be in place, and what markets to approach first.
Figuring out the support function requirements and tracking performance
Going into a platform business will require new internal activities within the company. These may include marketing, sales, training, customer support, and administration. Your platform also needs to have built-in data collection and analysis capabilities. The smartest digital tools actively evolve over time based on performance data.