The digital world has witnessed the rapid growth of various platforms that revolutionise how we interact, work and consume. With the increasing advancements in mobile technology and internet accessibility, these platforms have become the go-to destination for everything from shopping and transportation to entertainment and professional networking.
Social media giants such as Facebook, Instagram, and Twitter have experienced tremendous growth, with billions of users. On-demand services and the gig economy, led by companies such as Uber, Lyft, and TaskRabbit, have transformed traditional industries and created new ways of working. E-commerce behemoths like Amazon and eBay have accelerated the shift towards digital transactions, changing the retail landscape. Streaming services such as Netflix and Spotify have surpassed traditional media consumption by offering personalised and on-demand content. Creative platforms like TikTok have revolutionised content creation and consumption, especially among younger demographics. These trends show that digital platforms have become integral to our fast-paced lifestyle. As these platforms continue to evolve, steered by data-driven insights and technological advancements, they will bring new opportunities and challenges across various sectors. The growth of digital platforms in the past five years is a testament to their adaptability, resilience, and central role in shaping the present and future digital landscape.
An insatiable user appetite for convenience, personalisation, and community drives this rapid evolution. Platforms offer seamless access to vast services, anticipate our needs, and a sense of belonging fostered by shared interests and interactions. The result? A world where platforms are no longer just tools but ecosystems shaping our daily lives, economies, and even cultural trends.
“Platforms are neither neutral nor value-free constructs; they come with specific norms and values inscribed in their architectures.”
The Platform Society: Public Values in a Connective World, co-authored by Jose van Dijck, Thomas Poell, and Martijn de Waal.
At its core, digital platforms serve as virtual marketplaces that facilitate connections between users and service providers. These platforms leverage technology to create ecosystems where individuals or businesses can interact and exchange goods, services, or information. One defining feature is the seamless connection between users seeking specific services or products and providers offering them.
Uber, for instance, revolutionised transportation by connecting riders with drivers through a user-friendly app, while Airbnb transformed the hospitality industry by linking travellers with available accommodations. The platform economy, encapsulating these interactions, thrives on the exchange of value within these digital ecosystems.
These platforms act as intermediaries, streamlining transactions and promoting collaborative consumption. The success of these platforms lies in their ability to leverage data analytics and user feedback, optimising and enhancing user experiences. As digital platforms continue to grow across various industries, from ride-sharing to freelance work, they redefine traditional business models, creating a more connected and efficient global economy. The rise of digital platforms signifies a paradigm shift, emphasising the power of connectivity, accessibility, and convenience in shaping the modern marketplace.
Research from MIT Sloan School of Management, University of Surrey, and Harvard Business School discovered that the leading 43 publicly-listed platform companies had almost double the operating profits, growth rates, and market capitalisations compared to the 100 largest firms in similar industries over 20 years. Surprisingly, these platform companies achieved these impressive results with only half the number of employees.
As the platform economy continues to grow, it transforms traditional business models while creating new opportunities for innovation, connectivity, and consumers alike.
Platform Economy and Digital Advertising
Digital advertising's meteoric rise in recent years can be attributed to its unparalleled ability to reach and engage target audiences in ways traditional advertising struggles to match.
The accessibility and ubiquity of the internet, coupled with the upsurge of smartphones and other digital devices, have fundamentally transformed consumer behaviour.
According to a survey conducted by Defy Media, younger viewers watch videos on platforms like YouTube and Netflix 2.5 times more than they watch on TV. This shift highlights the growing dominance of digital platforms, reflecting a cultural transition towards on-demand and personalised content. Online platforms offer a dynamic and broader space for advertisers to leverage highly targeted campaigns, ensuring their messages reach the right people at the right time.
Unlike traditional advertising, digital platforms provide measurable metrics, allowing advertisers to track the performance of their campaigns in real time and adjust strategies on the fly. Using vast data and insights allows advertisers to create and disseminate personalised content for precise audiences.
The interactive nature of digital advertising fosters two-way communication, allowing brands to build meaningful relationships with their audience.
As consumers increasingly spend time online, digital advertising becomes integral to their daily experience. With its flexibility, targeting capabilities, and analytics-driven approach, the rise of digital advertising has made it a preferred choice for businesses looking to maximise their reach and impact in the digital age.
Targeted advertising on digital platforms has revolutionised how brands connect with their audiences by harnessing the power of user data.
A defining characteristic of platforms is their ability to gather vast amounts of data regarding user preferences, behaviours, and demographics. This treasure trove of information allows advertisers to create highly tailored and personalised campaigns, delivering content to the most relevant and receptive audiences on a personal level.
This level of precision goes beyond traditional mass marketing approaches, resulting in higher engagement rates and increased conversion probabilities.
Have you ever noticed how the advertisements you see on social media and e-commerce sites seem to align perfectly with your interests? That is because these platforms analyse your online behaviour and match ads to your preferences. The result is an advertising experience that feels more seamless and relevant to users, facilitating a connection between brands and consumers. Although using user data in targeted advertising raises privacy concerns, it presents an opportunity for brands to deliver more valuable content to consumers, ultimately enhancing the overall advertising experience.
The Asia-Pacific region is home to several prominent emerging markets that are ready to explore the vast potential of digital advertising, especially within digital platforms. These markets consist of diverse consumer bases and are often characterised by technology-driven behaviours, presenting digital platforms with opportunities to engage with audiences in new and innovative ways. With digital platforms becoming increasingly popular, the APAC region is on the cusp of a transformative era in digital advertising.
Roar Global, with more than a decade of expertise in media, serves as a gateway for digital platforms seeking to enter and expand in the APAC region. The team at Roar Global actively collaborates with digital platforms, creating partnerships that transcend boundaries and unlocking new avenues for advertising success.
"At Roar Global, every move is a calculated step toward enabling digital platforms to flourish in the APAC region. With our presence marked in Laos, Brunei and Bangladesh we ensure that advertisers are presented with the right opportunities to harness the full potential of digital advertising in emerging markets in the APAC Region," says Mustafa Kassim - Founder/CEO of Roar Global
Over the past decade, Roar Global has secured partnerships with leading brands such as Meta, Google and LinkedIn, often as the exclusive reseller for brands not just in Sri Lanka but in Bangladesh, Laos and Brunei.
"With platform-specific and tailored strategies, we have been able to drive 1000+ brands and advertisers to new heights. These strategic collaborations provide exclusive and advanced access to new and innovative advertising tools and techniques, allowing Roar Global to empower brands to create highly targeted and effective campaigns," says Prash Balakrishnan - Chief Commercial Officer at Roar Global
Roar Global specialises in building connections, ensuring platforms cultivate engaged communities that resonate with their target audience. We maximise user engagement through tailored strategies, creating an interactive and dynamic environment. Moreover, Roar Global streamlines transactions, optimising the user experience and enhancing the overall growth trajectory of digital platforms in the ever-evolving digital landscape.
To learn more about our efforts as the gateway for digital platforms in the APAC region and our newest ventures, visit www.roar.global