The Modern-Day Brand as a “Platform”: Venture Capitalist Anthony Tjan Explains the Shift Towards Purpose-Driven Companies
As part of an ongoing LinkedIn Series, Venture Capitalist Tony Tjan will explore the shift towards platform-oriented business models. In his first installment he asks: What is a platform? Why does it matter? And how can brands take advantage?
“Put simply, my fundamental thesis behind what really creates the underlying value of a brand platform is its ability to encourage high quality and relevant connectivity and relationships,” writes Tony Tjan, in “The Modern-Day Brand as a Platform.”
Digital platforms such as Uber and Airbnb do not own a product, but they facilitate relationships between riders and drivers, guests and hosts, using their application. The modern-day brand that does own a product is also shifting towards platform thinking. “The biggest mindset and strategy shift for the Glossier, Peloton, and Sweetgreen’s of the world is that their product offering is something well beyond the obvious physical good or service,” Tjan explains. “In each of those cases the core brand offering should be thought of as just one key component of the overall content for the ecosystem—to facilitate positive ecosystem relationships and reinforce a brand’s purpose.”
A brand’s physical offering, digital content, and channels of its physical and digital distribution should not only be considered together, but be considered beyond profit. In other words, they should be considered in terms of purpose and value.
Read the full article here.
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