Platform strategy is now one of the most talked about features in business. There have been some resounding successes over the last decade such as Amazon, Airbnb, Uber and eBay, but for each of these, there have been countless many more failures. In order to gain an advantage on the platform strategy, the founders need to have a seeing mindset, rather than a product one. A lot of them focus on features to highlight a good product, but it is the customer user interface that is most critical. A lot of these platforms have had teething problems in the early days when they did not know how to handle such unexpected crises situations. Now they all have a method for interacting with customers to gauge authentic business intelligence on their user experience. Beyond algorithms, the platform needs to think about the human cost or requirement. Instead of trying to replicate Uber’s success, new companies must try to build their own niche by forging valuable connections.

Source:http://mitsloan.mit.edu/newsroom/articles/platform-strategy-explained/?utm_source=mitsloantwitter&utm_medium=social&utm_campaign=platformexplainer

Uploaded Date:08 February 2018