Building digital platforms

Building digital platforms

In today’s connected economy, digital platforms aren’t just tech stacks—they’re ecosystems that drive engagement, innovation, and exponential growth. From e-commerce giants like Amazon to service platforms like Uber, the most successful companies of our era are platform businesses. But building a digital platform goes far beyond creating an app or a website; it involves designing a scalable architecture, fostering a community, and enabling seamless interactions between users, developers, and partners.

1. Understand What a Digital Platform Is

A building digital platforms is more than just software. It's a technology-enabled business model that creates value by facilitating interactions between producers and consumers, often with third-party contributors (like developers or vendors) adding further value.

Key characteristics:

• Two-sided or multi-sided markets (e.g., buyers and sellers)

• APIs and integrations to support third-party developers

• Network effects where the value grows with user adoption

• Data as a core asset, enabling personalization and insight

2. Define the Core Value Proposition

Every platform needs a compelling reason for users to join and engage.

Ask:

• Who are your target users (supply side and demand side)?

• What problem does the platform solve?

• What unique value will users get that they can’t find elsewhere?

Examples:

• For Airbnb, the value is offering unique lodging experiences for travelers and income opportunities for hosts.

• For Shopify, it's enabling entrepreneurs to easily set up and manage online stores.