Strategies for Two-Sided Markets & How to Launch Your Digital Platform Extra Credit Assignment #3 Mariah Green, Charity Wells, Khenti Amen, Shanice Scott-Thurston,

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Presentation transcript:

Strategies for Two-Sided Markets & How to Launch Your Digital Platform Extra Credit Assignment #3 Mariah Green, Charity Wells, Khenti Amen, Shanice Scott-Thurston, and Davene Pusey

Strategies for Two-Sided Markets O Multi-sided Platform- economic platforms that has two distinct user groups and provides each other with network benefits. O Value is created by enabling direct interactions between two (or more) distinct types

Differences in Two-Sided Markets Examples: 1. Newspapers, bring together subscribers and advertisers 2. Operating systems connect computer users and application developers. O Product or service incurs costs in serving both groups and can collect revenue from each

Impact of Two-Sided Markets Impact O “Network Effects,” these platform products enjoy increasing returns to scale Common Mistakes: O Managers rely on assumptions and paradigms that apply to products without network effects.

How to Launch Your Digital Platform O The framework to help aspiring entrepreneurs make the right strategic decisions as they build their own platforms involves asking critical questions

Can I Attract a Large Group of Users at Once? O The company already has the users it needs on another platform. O User data is publicly available.

How Will I Build Credibility with Customers? O To attract initial users, a new platform must satisfy those concerns by building credible expectations for its future success.

How Should I Charge Users? O Pay-as-you-go O User subsidies O For platform businesses, subsidies play an even more important role, because low usage at the outset often means that a platform’s early benefits are not great enough to outweigh the cost or hassle of joining.

Can I Make My Platform Compatible with Legacy Systems? O Few platforms create entirely new networks., Users migrate to a new platform from some prior system. Building in compatibility with legacy systems is often key to a successful launch O It attracts new users and then gives them an incentive to switch more fully to the platform.