The 5 myths about online platforms

Myth 1: Developing a platform takes a long time

This is a thing of the past. Together with House of Covebo, we built the first version of the online marketplace Aanpakkers.nl in just 6 weeks! And even with such a first version, which provides the most important functionalities, House of Covebo is already generating revenue from incoming leads. The platform thus sets a new standard for freelance mediation in the construction and technology sectors. Additionally, House of Covebo immediately gathers valuable insights for further platform development, working towards building a strong brand.

Myth 2: The market is too saturated to launch a new platform

You might think it's pointless to develop a platform for your market because there are already several major platforms active. But we can debunk this for you. We see that major players are slowly losing their market share because smaller, niche-oriented platforms understand their target audience better and reach them more effectively. An added advantage is that - due to these major platforms - people have become familiar with using them and understand the principle. This saves you part of the explanation and validation. So don't be misled by these major players, as they actually create space for new platforms.

Also, due to market developments, opportunities arise for new platforms. Take, for example, sustainability, which is now completely hot and happening. Platforms offer enormous opportunities here. Our client Madopt spotted an opportunity and decided to develop a circular construction marketplace with us that contributes to the sustainability of the construction industry in the Netherlands.

Myth 3: Developing a platform is expensive

Yes, of course, developing a platform costs money. But it also generates money. Often, the expenses of a platform are not related to the business value it delivers to the organization. A platform ultimately contributes to the growth of your organization. Because as the costs for the platform grow, your business and success grow along with it. This is always the premise. For instance, our client Appjection, a company that challenges unjust parking and traffic fines, developed a self-service portal with us that resulted in a streamlined process and higher customer satisfaction, leading to more fines being processed and submitted. Without the platform, they wouldn't have been able to handle as many fines as they do now, ultimately generating a lot of extra revenue.

It's no coincidence that we always begin a collaboration by mapping out the potential of your platform (idea) and the associated business case. Ensuring that everything you add to your platform ultimately creates more business value for your organization. How we did this for one of the most successful platforms in the Netherlands can be read in the case about Young Ones.

Myth 4: You need large volumes of supply and demand for a platform

We hear this perhaps the most, but it's not true. Platforms can be very valuable and disruptive in niche markets where volumes are naturally smaller. A great example is our collaboration with Vriens Archeo Flex for the platform Erfgoed Werkt.nl, which easily connects specialists in the heritage sector to freelance jobs. It's super niche, and the numbers aren't huge. Why does it work anyway? Because Vriens knows its niche market inside and out. They understand exactly what the target audience's needs are and how to best reach them. As a result, activation and operational costs here are much lower than for reaching large, more saturated markets. Furthermore, through a platform, your organization can more easily build a community with candidates and clients, which further lowers activation costs. By building a community, you establish long-term relationships, and people return to your organization. Large volumes are not necessary at all.

Myth 5: You need to overhaul your entire IT landscape to develop a platform

No, you don't. You can also make adjustments within your current IT landscape. Together, we assess which systems and/or software solutions are needed to achieve a platform. There are often possibilities for standard solutions, which you build the user environment on top of. The platform then acts as a 'plug' that connects existing systems, making key data and value streams visible. This makes your organization agile because you can quickly and easily respond to market developments. For example, we connected the platform for Compagnon to their existing ATS, website, and administration package. It's therefore not a given that your entire IT landscape needs to be overhauled if you want to develop a platform. As an organization, you choose your own strategy to develop a platform. Read more about the different strategies here: build, belong, or buy.