In 2023, you have a range of different options to choose from when it comes to embracing digitization. There are several ways in which you can build a digital platform for your employees or customers. While this is a boon for businesses of all scales, it makes building the right platforms important.
This is why you need a robust platform strategy.
What Is A Platform Strategy?
A platform strategy is a strategy involved in implementing the right digital platform for your organization. It is a deep dive into understanding the audience you want to cater to and the objectives you want to attain.
There are hundreds of ways in which you can build hundreds of platforms for your business. A robust platform strategy helps you choose the most suitable way of developing a platform for the end users. Here, a platform refers to an environment that allows users to perform specific processes digitally. Software solutions like CRM, ERP, IoT apps, and AI tools can all be referred to as digital platforms.
A platform strategy allows you to understand the inherent needs of your target audience, the gaps in your company’s IT infrastructure, and the goals of your business. These elements persuade you to build the digital platform that best suits your requirements.
Creating a robust platform strategy allows you to answer questions like:
- How will your target audience digitally engage with your business?
- How can you monetize your services on digital platforms?
- Is there a need to integrate your existing software products?
- Which digital environments should you operate in?
- What value should your digital platform add?
Why Do You Need The Right Platform Strategy?
Let us now have a look at three major reasons why you need the right platform strategy:
- Giving The Audience What It Needs
Understanding your audience is an important element in developing a platform strategy. The strategy allows you to give your audience exactly what they are looking for. It helps you tailor your product according to the end users’ needs, building healthy customer relations.
- Tackling Competition
Irrespective of the industry you operate in, you are likely to find multiple players offering similar services to the same target audience. The right platform strategy helps you analyze the competition in the market and stand out from the clutter. It gives you an edge over your competitors by creating value that is unique to your offerings.
- Staying Relevant
An effective platform strategy keeps you in sync with the ongoing tech trends in the industry. It helps you stay relevant by using the most sought-after technologies and frameworks while building your digital products.
Build A Rock-solid Platform Strategy With VIZIO
VIZIO guides you every step of the way in building a platform strategy that keeps you ahead of the curve. Our team of dedicated SAP consulting professionals will help you assess every element necessary to build a platform best suited for your business and its target audience.