2/29/24, 9:40 PM Preface | Effective Platform Product Management
Preface
In the last few years, platform business models have revolutionized various
industries, such as retail, media, and travel. With the rise of platforms and increased
use of technology, consumers nowadays want multiple options available digitally.
They like to search, explore, compare, and choose between different options within a
single uninterrupted user experience. Providing such an experience is difficult and
indeed almost impossible using linear models. Hence, more and more businesses will
have to adapt the platform-first approach. There is a shift needed at all levels and in
every function of an organization. Right from strategy to execution, everyone will
have to adopt the platform way of thinking.
Some organizations have already started moving in this direction. Executives have
begun realizing the need and benefits of the platform. However, the challenge is
building the right platform strategy and the execution of that strategy. One function
of the organization that is most important in creating this strategy and helping in its
execution is product management. Ironically, this is one function that is far from
grasping the importance of platforms and of building the right strategy for them.
Product managers still think in terms of linear products and forget to build the
strategy and roadmaps that cater to the platform's needs.
This book will address this critical pillar of platform development, that is, product
management. It will cover the difference between traditional product management
and product management for platforms while explaining the importance and
benefits of the platform. It will help and guide business executives and product
managers in building the right platform strategy, defining the MVP, and ongoing
prioritization. This book will also cover the steps and guidelines for organizations and
especially product managers when transitioning from linear products to platforms. It
will help them in the journey of this transformation. This book will answer all the
essential questions of product management for building successful and scalable
platforms.
Who this book is for
If you're a product manager, product owner, product director, or a business executive
working on a platform strategy and its day-to-day execution, then this book is for
you. It will also be useful for change managers and program managers tasked with
transitioning from products to platforms. You won't need any prior knowledge of
platform strategy or platform transitioning before you get started, since the book
covers all the basics – but taking notes to reflect on your journey as you work
through the practical examples in this book is recommended.
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2/29/24, 9:40 PM Preface | Effective Platform Product Management
What this book covers
Chapter 1, Fundamentals of Platform Business Models, covers what a platform is in
general and how that concept applies to digital platforms and the platform business
model. It will cover the fundamentals of the platform business model by explaining
the characteristics and components of a digital platform that are needed to support
the platform model. This chapter will also describe all the benefits of the platform
model. At the end of this chapter, you will have a good understanding of what a
platform business model is, why it is important, and how it can be supported by the
right digital platform.
Chapter 2, Differences between Linear Products and Platforms, explains why you
have to adopt different techniques and mindsets for platform product management.
The chapter will start by explaining how platforms are different from linear products
and then explain how product managers should think differently in terms of the
different methods that need to be applied when building platforms. This chapter will
cover a real-world use case to explain the difference between a linear product and a
platform. This chapter covers the breadth of the product life cycle, while each of the
following chapters explores the depth of each step of that life cycle.
Chapter 3, Research and Validation, covers how to gather user insights and validate
the platform use case. Doing research and gathering data for the concept validation
of a platform is different from the process for a traditional product. Hence, this
chapter will explain to you how to do the initial research and collect the right data.
This chapter will include a case study on validating the concept of a platform.
Chapter 4, Building a Platform Strategy, explains how the business vision defines the
business strategy and the business strategy defines the platform strategy. You will
learn how important it is to have the right platform strategy to meet your business
vision. This chapter will cover different types of platform strategies and the
components of a good platform strategy. This chapter will continue the case study
to build the platform strategy after the concept is validated.
Chapter 5, Defining the MVP and Creating a Platform Roadmap, explains how to
translate a platform strategy to a long-term platform roadmap. In this chapter, you
will learn how to create an end-to-end user journey for the platform and define the
platform capabilities. You will learn how to carve out the MVP by prioritizing and
ranking those capabilities. The case study will continue with creating the platform
roadmap and defining the platform MVP.
Chapter 6, Launching the Platform, explains how to launch a platform, the factors
that need to be considered before launching a platform, the elements of a successful
launch, and what strategies must be implemented for the successful launch of a
platform. By the end of this chapter, you will know how to create an effective
marketing plan before the launch of a platform and how to execute the launch
strategy successfully and enable its growth. The case study will continue with the
launch of the platform.
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2/29/24, 9:40 PM Preface | Effective Platform Product Management
Chapter 7, Creating a Platform Operating Model, covers how to create an operating
model for the platform that can translate a platform strategy to successful
execution. This chapter will explain what the most efficient team structure is, where
the accountability and responsibilities lie, the ways of working, and how to govern
the platform execution. The case study will cover efficient team structure and a
successful governance model for platforms.
Chapter 8, Metrics to Measure the Platform Outcome, teaches you how to measure
the outcome of a platform after it is launched and the governance structure is in
place. This chapter will cover different metrics that should be collected to measure
the success or failure of a platform. This chapter will also cover how to analyze the
results after metrics data collection.
Chapter 9, Ongoing Backlog Prioritization, looks at how to keep backlog
prioritization going. This chapter will cover how platform backlog prioritization is
different from traditional product backlog prioritization, along with the challenges to
face and mistakes to avoid during prioritization. The case study will further expand
to cover ongoing platform backlog prioritization.
Chapter 10, Moving from Linear Products to Platforms, explains the transition from
products to platforms. You will learn how to validate the viability of the platform
business model for existing linear businesses. You will see what factors are to be
considered before transitioning and how to start the transition. In this chapter, you
will see the different phases of the transition of a linear enterprise product to a
platform in the form of a case study.
To get the most out of this book
Some familiarity with basic product management concepts such as the product life
cycle, MVP, feature prioritization, and product metrics will be useful.
Download the color images
We also provide a PDF file that has color images of the screenshots and diagrams
used in this book. You can download it here: https://static.packt-
cdn.com/downloads/9781801811354_ColorImages.pdf.
Conventions used
There are a number of text conventions used throughout this book.
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Bold: Indicates a new term, an important word, or words that you see onscreen. For
instance, words in menus or dialog boxes appear in bold. Here is an example: “As we
discussed, during the initial startup phase, we should not have a separate
Governance team, and executives should take up the responsibilities of the
Governance team.”
Tips or important notes
Appear like this.
Get in touch
Feedback from our readers is always welcome.
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