Mechanism to effectively manage the interaction of a two-sided platform with buyers and sellers

Aim. To formalize and investigate a mechanism for effectively managing the interaction of a two-sided platform with buyers and sellers. Objectives. Determination of the purpose and tasks of interaction management; allocation of the core of tools for managing the interaction, formation of criteria of the mechanism functioning efficiency. Methods. The authors used logical, structural, comparative analysis, as well as applied meta-analysis of previous studies to form the theoretical basis of the mechanism of management of the interaction of bilateral platform with buyers and sellers. Consistent with the subject area, the study is based on the standard model of bilateral platforms and extends it with the basic methodological approaches of entrepreneurship theory. Results. The article contains the formalization of the mechanism of effective management of interaction of bilateral platform with buyers and sellers. Aim and objectives of interaction management are defined, the core of tools for managing the interaction is identified, and criteria for the effectiveness of the mechanism are proposed and substantiated. The study identifies key factors affecting the effectiveness of bilateral platforms, including the importance of market saturation and the need to provide flexible conditions for different groups of users. The correlation between the improvement of working conditions on the platform and the growth of its financial performance was proved. Conclusions. The formalized mechanism allows to effectively manage the interaction with parties on a two-sided platform, ensuring the growth and sustainable development of the marketplace. Further adaptation of management tools is recommended, taking into account the specifics of markets and user behavior.