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

Metrics-driven prioritization

One of the critical reasons for collecting metrics and gathering data around trends is to track the performance in different aspects and make any necessary improvements if required. Therefore, the most appropriate and effective prioritization mechanism is prioritizing and implementing capabilities and features based on the metrics. In the previous chapter, regarding metrics for measuring the platform, we discussed the fact that the platform goals and metrics are classified mainly into three categories – accumulation, connection, and interaction.

Hence, if we prioritize features based on the metrics, we must add and prioritize features that would optimize and improve accumulation, connection, and interaction. Some features and capabilities can be added to each of these categories and when they all perform in conjunction with each other, the platform generates value, as depicted in the following diagram:

Figure 9.1 –...