The content you’ll find here can help you get started with your journey. Whether you’re planning to create a marketplace from scratch or convert your existing eCommerce store to a multi-vendor marketplace:
- Analyse the potential of your idea. The best business ideas solve other people’s problems and monetise them in the process.
- Identify your audience and their pain points.
- Identify and analyse your competitors, paying close attention to their strengths and weaknesses that your marketplace aims to solve.
- Determine the best monetisation model for your marketplace. You can come up with the answer if you ask yourself this question, ‘How will I earn money’? Depending on the nature of your business, you can earn through commission, listing fee, advertising, subscription, and freemium.
- Prepare project documentation that will serve as a roadmap for you and your team.
- Once the prototype and project documentations are done, start developing the actual marketplace in its ‘barest’ form, i.e., just enough features to attract early users. The idea here is to get enough user feedback to make steady improvements.
- Grow your digital marketplace by reaching out to suppliers and sellers. You can find them by scanning your competitors and using search engines and social media. Of course, you should also grow your customer base, which you can do by creating and advertising a landing page; starting a blog and community; joining forums and groups; and partnering with influencers or local celebrities.
If you’re looking for a marketplace platform that offers solid marketplace features, and an easy-to-use admin panel, Marketplacer can help you build your dream online service marketplace.
