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Platform Revolution chapter 5, G2 (IPCM3_Andrea, DICE2_Jeff, IBS(M1)…
Platform Revolution chapter 5
Viral growth
The value unit
The fundamental unit of virality
:!:Creating
spreadable
value units
Start an interaction on external network
Ex:
Instagram
Create opportunity to complete interaction
Ex:
Quora
The external network
A way platforms grow on top of other networks
:warning: Might introduce restrictions when more applications use it for growth
Constantly invite will make users jaded and stop responding
:check: find external network that have
value-adding
ways to connect with the users
The sender
People who spread value units
ain't spreading the platform, but their
self-created value units
indirectly generate awareness and interest
platform can create incentives to boost value spreading
Ex:
monetary incentive
The recipient
respond if the users find the value unit relevant
:star: Nudge users in directions that can make seeds more attractive to recipient
Ex:
hashtag
enough value units + recipients => spread further
8 strategies
The piggyback strategy
Link existing users of another platform (online or offline)→create value units in stages & attract users
e.g. Justdial🚖
The seeding strategy
Create a value unit that a certain group of potential users needs.
When they enter the platform, they can attract users who want to interact with them to join.
e.g. Google Andorid📱
The follow-the-Rabbit Strategy
Non-platforms →prove the success of the infrastructure→attract consumers and producers to the new platform
e.g. Amazon🛒
2️⃣Designing the platform to attract one set of users.
1️⃣Staging value creation
3️⃣Simultaneous on-boarding.
4.The marquee Strategy
Provide strong incentives to attract key users to join the platform first.
e.g. Swiss postal service→digital message-delivery platform→by using Seattle-based Earth Class Mail
The single-side Strategy
Create for a single set and convert to a platform to attract second set :silhouette:
e.g. OpenTable
1st - create booking management software
2nd - build out the customer side
The producer evangelism strategy
Design for
producers
who can induce their customers to become platform users
e.g. Kickstarter
The big-bang adoption strategy
one or more traditional
push marketing strategies
to
attract a high volume of interest and attention to your platform
e.g. Twitter
install a pair of giant flat-panel screens in the main hallways at SXSW
text “Join sxsw” to Twitter’s SMS shortcode number (40404)
find his or her tweets
instantly appearing on large screens and seeing the feedback in real time
SXSW Festival Web Award
usage had tripled, from 20,000 tweets
per day to 60,000.
The micromarket strategy
targeting a
tiny market
effective matchmaking
characteristic of a large market even in the earliest stages of growth
e.g. Facebook
Launch closed community of Harvard University with 500 people
Facebook - geographically
Stack Overflow - category
Platform Marketing
Viral Growth
Pull > Push
Reasons
access to marketing and communication channels is democratized
everyone can have access to them
user commitment and active usage
True inducators of customer adoption
attract users to be organically connected to the interactions
those good and services must be
so attractive
G2
IPCM3_Andrea
DICE2_Jeff
IBS(M1)_Emerald
IPCM4_Emily
Pipelines
Consumers are accessed through specific marketing and communication channels
PUSH
only focus on awarenes
creation
Ex:
leveraging Facebook
Benefit from data-driven cross-pollination