Businesses are going online at a very fast rate; in fact, at a rate faster than expected.
In the beginning, we’d expected people will only take digital services, buy digital goods and perform eCommerce purchases online. However, with increasing use and reach of the internet, there is another type of online business model prospering alongside.
Who had thought there will be online repositories for listing location-wise experts for different skills and people will trust more on online profiles for choosing their service provider – be it gardening, painting, travel, hotel booking, event management, etc. otherwise?
So, in conclusion, there are four types of businesses which are online now.
Do you know what’s connects them or act as a mediator for exchange of services and goods?
A Digital Marketplace.
With the rising demand for online service/good selling for the businesses, there is nothing more advantageous than launching your own marketplace. Having said that, your marketplace should be unique, feature-rich, usable, user-friendly for both parties (sellers and buyers/service providers and their customers) and appealing in visuals in order to sustain in the market.
In this article, we will give you complete know-how on what is a marketplace, why build a marketplace, what features a marketplace should have, why to take on-demand marketplace development services. So if interested in coming up with your own marketplace, continue reading.
The digital landscape, which allows the exchange of services or goods online, and lets the customers or buyers to get connected to sellers or service provider, is called the marketplace. From Uber to Fiverr, from Upwork to Amazon – all are marketplaces and doing very well in their industry.
In this fast-track era, it is difficult to win the trust of buyers, especially while selling online. While online shopping or services make it convenient for the customers to get what they want without stepping out of their home, it also exposes them to frauds too. So, they want a trustworthy way of making online purchases.
Similarly, Service providers want the security of money for the services they are providing or the products they are selling.
Through the website of the service provider, customers have just one option. Either they can hire the service provider or go back to the web, in order to search for another service provider. The process of hiring becomes time-consuming. However, in a marketplace, customers can look at multiple profiles and make a wiser selection.
On the other side, sellers and service providers have a profile where reviews are collected, work experience is updated and projects are recorded. They get a chance to get listed in searches relevant to their skills, increasing their reach like so many people access hits.
Having Developed on-demand marketplaces for multiple businesses, we can safely say that a high-performing marketplace needs to have a few specialties. These are –
Though there are a few off-the-shelf options, which could be used for launching the marketplaces quickly, never go with those.
While it is easy to launch products with these marketplace themes or templates, extending the business will be very tough with them. Also, your launched solution will not be unique in this case as many other service providers would have been using the same design. So, always hire developers to build an on-demand marketplace.
Taking on-demand marketplace services will be beneficial for you, because –