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Platforms part 3 (Value over time = cumulative value (Building long-term…
Platforms part 3
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Interaction drivers
Connection that already exists (Fb, ln)
Content and shared interests (medium, ebay, etsy, youtube)
Clout (producer influence) (twitter, stackoverflow --> badges)
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platforms can use multiple interaction drivers (quora: content, competition, clout, connection)
Rules
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The inside-out perspective must be complemented with the outside-in perspective. The structure of tools and rules should be balanced with an understanding of producer and consumer motivations and the job to be done for both roles.
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To succeed, the platform must develop the next layer. The tools and rules layer should encourage interaction.
WHEN USERS SHOW THE WAY “You know you have a platform when the users can shape their own experience –not just accept the maker’s ideas” —Jeff Jarvis
Habit loop
INVESTMENT: The feedback loop in an interaction is executed so that it kick-starts the next interaction organically.
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TRIGGERS and REWARDS: Production incentives. Producers must be appropriately incentivized to participate repeatedly.
Platform canvas
questions to ask
- What is the core interaction that the platform enables?
- What is the unit of value created on the platform such that, without it, the platform has little or no value? What is the supply or inventory created on the platform?
- Who are the producers of value? What motivates them to produce?
- Who are the consumers of value? What motivates them to consume? Once the core interaction is laid out in relation to the platform, the plug-and-play nature of the platform needs to be designed (see Figure 17c):
- What channels are used by producers to create value on the platform?
- How does the platform manage access control for producers on these channels? What are the rules of access?
- What channels are used by consumers to consume value from the platform?
- What filters does the platform need to serve relevant content to consumers and to connect them with relevant producers? The third phase involves the definition of platform tools and services (see Figure 17e):
- What tools and services should the platform provide to enable the interaction?
- What creation tools and services should the platform provide?
- What curation and customization tools and services should the platform provide?
- What consumption tools and services should the platform provide?
- How do these tools and services help the platform to 1) pull, 2) facilitate, and 3) match? The final phase of platform architecture involves value capture (see Figure 17f):
- What currency does the consumer provide to the producer in exchange for value?
- How does the platform capture some portion of this currency for itself?
Tools + Access
Platforms that provide producers with both tools and access often beat platforms that provide only one of the two. That is what enabled Instagram, a late follower, to disrupt Hipstamatic, a far superior product.
curation: algorithmic, social, editorial