Meaning ● Platform strategy, in the context of SMBs, denotes a deliberate approach to developing or utilizing technology platforms to facilitate interactions and value exchange between different participant groups, frequently with the goal of scaling growth, optimizing automation, and streamlining implementation processes. ● It involves SMBs selecting or creating a foundational technology environment—the ‘platform’—that connects producers and consumers, creating network effects. ● Essentially, it’s about designing business models around digital ecosystems rather than linear supply chains, enabling increased reach and efficiency in SMB operations. ● A core strategic element includes automating key interactions on the platform, reducing manual overhead and improving scalability for the SMB, allowing them to focus on core business activities, and implementation aspects, such as ease of integration with existing SMB systems, determine its long-term viability.
