11 Insights to Scale Your Platform — Sangeet Paul Choudary
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Transcript of 11 Insights to Scale Your Platform — Sangeet Paul Choudary
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This presentation consists of highlights from the interview with Moe Abdou,
founder & host of 33voices®.
Sangeet Paul Choudary is a widely published researcher, industry keynote speaker and global CXO advisor on platform business mod-els to high growth startups and Fortune 500 companies. He is the co-chair of the MIT Platform Strategy Summit and an industry advisor to
the Global Platform Data Project at Stanford University.
Sangeet Paul Chaudary
@sanguit
Founder and CEO of Platform Thinking Labs
Observe today’s most powerful technology companies and you’ll notice a
shift away from the traditional, linear business models to plug-and-play platforms that enable
producers and consumers to co-create and exchange value with one another.
Insight #1
Insight #2
The big misconception about platforms is they’re about the technology.
Rather, they exist to enable the interactions that are already happening.
Insight #3
As the platform creator, make it your highest priority to crystallize how you’ll add value to
both your producers and consumers keeping in mind their major pain points:
Insight #3
As the platform creator, make it your highest priority to crystallize how you’ll add value to
both your producers and consumers keeping in mind their major pain points:
Producers want to liquidate inventory with minimal effort at attractive pricing
Insight #3
As the platform creator, make it your highest priority to crystallize how you’ll add value to
both your producers and consumers keeping in mind their major pain points:
Consumers are looking for viable solutions with minimal decision making effort.
Insight #4
To spark interactions during the initial phase of your platform, consider these two options:
Insight #4
To spark interactions during the initial phase of your platform, consider these two options:
Focus on getting only one side on board and provide an added layer of value for being there. Think Open Table in the early days.
Insight #4
To spark interactions during the initial phase of your platform, consider these two options:Focus on limiting the number of producers
and consumers during the initial phase. Think of Etsy in the early days.
Insight #5
The most effective retention strategies use behavioral design:
Insight #5
The most effective retention strategies use behavioral design:
Embed new behaviors into the lives of your users. Think Facebook newsfeed.
Insight #5
The most effective retention strategies use behavioral design:
Ensure that the value your producers getincreases as they use the platform. Think of the reputational capital that an Airbnb
host gets with more reviews.
Insight #6
Platforms scale non-linearly; so it’s wise to take Paul Graham’s advice when
building your technology “do things that don’t scale”. Design; observe; iterate; automate.
Insight #6
Platforms scale non-linearly; so it’s wise to take Paul Graham’s advice when
building your technology “do things that don’t scale”. Design; observe; iterate; automate.
For Producers | design interfaces that convey to them the impact that their
actions are having.
Insight #6
Platforms scale non-linearly; so it’s wise to take Paul Graham’s advice when
building your technology “do things that don’t scale”. Design; observe; iterate; automate. For Consumers | design interfaces that
helps simplify and accelerate their decision making criteria.
Insight #7
When scaling your platform, remember Mark Zuckerberg’s advice,
“You can’t make a community, you can only enable the interactions that
are already happening.:
Insight #8
The smartest platforms use “free” strategically:
Insight #8
The smartest platforms use “free” strategically:It increases the repeatability
of the interactions.
Insight #8
The smartest platforms use “free” strategically:It involves the capture of monetizable data.
Think Facebook & Google.
Insight #9
The most effective revenue strategies leverage the value they create. Consider these:
Insight #9
The most effective revenue strategies leverage the value they create. Consider these:
Marketplace model - taking a transaction percentage
Insight #9
The most effective revenue strategies leverage the value they create. Consider these:
Charge the producers for access to the consumer side
Insight #9
The most effective revenue strategies leverage the value they create. Consider these: Charge the consumers for advanced
decision making support
Insight #9
The most effective revenue strategies leverage the value they create. Consider these:
Traditional Advertising
Insight #10
Platforms that scale leverage data beyond the initial interaction, for they understand
that building context for their user is the highest form of intelligence.
Insight #11
The Platform Manifesto:
Insight #11
The Platform Manifesto: The ecosystem is the new warehouse
Insight #11
The Platform Manifesto: The ecosystem is also the new supply chain
Insight #11
The Platform Manifesto: The network effect is the new driver for scale
Insight #11
The Platform Manifesto: Data is the new dollar
Insight #11
The Platform Manifesto: Community management is the new human
resources management
Insight #11
The Platform Manifesto: Liquidity management is the new
inventory control
Insight #11
The Platform Manifesto: Curation and reputation are the
new quality control
Insight #11
The Platform Manifesto: User journeys are the new sales funnels
Insight #11
The Platform Manifesto: Distribution is the new destination
Insight #11
The Platform Manifesto: Behavior design is the new loyalty program
Insight #11
The Platform Manifesto: Data science is the new business process
Insight #11
The Platform Manifesto: Social feedback is the new sales commission
Insight #11
The Platform Manifesto: Algorithms are the new decision makers
Insight #11
The Platform Manifesto: Real-time customization is the
new market research
Insight #11
The Platform Manifesto: Plug-and-play is the new business development
Insight #11
The Platform Manifesto: The invisible hand is the new iron fist
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Presentation created by Chase Jennings
Insights by Moe Abdou
