Jul. 23 at 5:00 PM
Some companies need to keep finding new customers to grow.
The strongest platforms can keep expanding the relationship with customers they already have.
$SOFI can turn a banking customer into an investor, borrower, credit-card user, and long-term financial-services member.
$UBER can monetize the same user across rides, delivery, memberships, and advertising.
$AMZN can expand a shopping relationship through Prime, streaming, grocery, devices, and advertising.
$MELI can connect the same customer across e-commerce, payments, credit, logistics, and advertising throughout Latin America.
$DUOL can turn free daily engagement into subscriptions, premium features, and additional education products.
This is what makes platform businesses so powerful.
They do not need every new dollar of revenue to come from acquiring another customer.
But the ability to deepen an existing relationship can be even more valuable.
