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platform: transition to commercialization, Chapter 9- How platform manager…
platform: transition to commercialization
analysis of value differences
traditional value creation
product ownership
platform created-value elements
access to created value
consumers
access to market & community
suppliers
to accelerate interactions
enhance curation mechanisms
value creation by platform technology
gaining profits in platform
explained
challenging of monetizing network effects
"power growth" pricing strategy
razors-and-blades pricing strategy
charging for the blades by alloting razors in relatively low prices
freemium model
attract users to enter the platform freely, then later pay for the advanced functions
two-sided market pricing
charging one side by subsidizing the other
ensure the value they monetize can be fully controlled
specific methods & examples
transition fee
charge when transaction happens
problem
ensuring transactions on platforms
create further value activities to reduce offline transactions
accessibility
Dribbble
third-parties accessibility: companies looking for
designers are charged to post employment listings
enhanced access
providing tools & services
enhanced curations
consumers are willing to pay for the quality
how to find suitable ones?
physical activities
Charging all users
online value-created
one side demand > another side demand
Charging one side while subsidizing another
attractiveness
Charging most users full price while subsidizing stars
sensative on pricing
Charging some users full price while subsidizing users who are price-sensitive
transition from fee to free
Chapter 9- How platform manager can measure what really matters
How business measure their performance?
pipeline business
focus on several key factors
cash flow, inventory turns, and
operating income
:star:Metric: the efficiency of the value
from one to the other
platform business
focus on creating positive network effects
the rate of interaction
success, factors to success
Key metrics in each lifecycle of platform
Growth phase
the number and quality of interactions
platform metrics
producer's side
lifetime value
consumer's side
frequency of consumption, searches, and rate of conversion to sale
Maturity phase
focus on drive innovations, identify strategic threats from competitors
platform metrics: drive innovation, high signalto-noise ratio, facilitate resource allocation
startup phase
focus on the core interaction & benefits created for both sides
platform metrics: liquidity, matching quality, and trust
designing metrics :check:
simplicity
Find one or two best measures
avoiding "vanity metrics"
measurement
actionable
accessible
auditable
Ch 10
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