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

Chapter 1: Fundamentals of Platform Business Models

In the last decade or so, platform business models have revolutionized various industries, such as retail, entertainment, media, and travel. Companies such as Amazon, Spotify, and Airbnb have changed how businesses reach out to their consumers and how consumers use the products. One thing all these companies have in common is a platform business model that allows multiple producers to connect to their consumers. This multidimensional model is the biggest differentiator for these companies, giving them an edge over traditional linear business models catering to limited consumer segments or demographics. So, because of the rise of such platforms, more and more businesses are adapting to a platform-first approach.

But before we dive deeper into platform business models, it is essential to understand what the term platform means in general and how that concept applies to digital businesses. Hence, in this chapter, we will cover the following topics:

  • What is a platform?
  • Understanding platform business models
  • Types of platforms
  • Platform revenue models
  • Benefits of a platform business model
  • Building the right digital platform for a platform business model