Book Image

Effective Platform Product Management

By : Tabassum Memon
Book Image

Effective Platform Product Management

By: Tabassum Memon

Overview of this book

Scaling a platform is a lot different than scaling a product. This is why product managers developing or transitioning to a platform model are often facing completely new challenges – both technical and strategic. But if you want to build the next Amazon, Netflix, Spotify, or a completely new type of platform, then you need to adopt a platform-first approach to change how you invent, develop, and market solutions. This is where Effective Product Platform Management comes in. This book addresses product management as a critical pillar of platform development. It'll help you understand the difference between traditional and modern product management for platforms and even decide whether the platform business model is the way to go for you. As you progress, you’ll be able to build the right platform strategy, define the MVP, and focus on ongoing backlog prioritization for successful platforms. This book will also walk you through the practical steps and guidelines that can ease your organization’s transition from linear products to platforms. By the end of this platform product management book, you’ll have learned the essential aspects of product management for building successful and scalable platforms. You’ll also have a clear understanding of the next steps you need to take to perfect and execute your new platform strategy – and take on the world.
Table of Contents (15 chapters)
Section 1: Building the Right Strategy for the Platform Business Model
Section 2: Building the Platform
Section 3: Measuring the Performance of the Platform

Defining goals

The goals here are the same as the business goals, but broken down into smaller time frames. For example, the goal for the first quarter after the platform's launch could be to have x number of visits; in the second quarter, it could be x number of registered users, and so on. But these goals should be tied to the long-term business goals such as x amount of total revenue, x number of recurring users, or x% of posts shared. The goals that must be measured would also depend on the phase of the business.

In the start up phase, the goals are used to create awareness, increase the footprint, and grab the market; for example, increasing producer and consumer onboarding, or increasing the number of transactions. In the growth phase, goals are focused on expanding the business, such as increasing the rate of recurring consumers, increasing the longevity of producers on the platform, and increasing the value per transaction. In the maturity phase, the goals revolve around...