Best Online Marketplace Platform
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What Is an Online Marketplace?
An online marketplace is an eCommerce portal where multiple vendors come on a common portal to sell products or services. This eCommerce model is also called the multi-vendor eCommerce website.
Different vendors/sellers register on the multi-vendor site where they upload, display, and sell their products or services. The sellers pay a commission to the marketplace.
Why Are Online Marketplaces Becoming Popular?
Recent market surveys suggest that multi-seller stores account for more than 50% of global online sales. Also, online marketplace sales grew by 20% in 2018 to reach $1.8 trillion. These promising figures have tempted many entrepreneurs to adopt this business model over a regular online store.
What Type Of Online Marketplace Platform Are You Aiming At?
The very first thing you need to do is to decide what kind of buy and sell platform you want. Is it supposed to be an online marketplace for sellers? A B2B, B2C, or P2P marketplace platform development? Are you wondering how to build a marketplace app, that is a cross-platform solution?
How can I monetize the project? What are the possible ways to earn money on it?
If you’re targeting to build a shared economy app or B2B/B2C marketplace app, you might find the detailed steps to go in the article on launching a scalable online marketplace platform.
How To Build A Marketplace: 4 Stages Of The Development Process?
So, your idea seems to have real potential. It solves existing problems, there is a market for it, and even the possibility of earning money. However, don’t hurry to approach investors yet. You first have to figure out how to launch a marketplace website.
• Build a marketplace prototype and test the idea
• Prepare the project documentation
• Build a marketplace website MVP
• Grow your online marketplace user base
Where to find potential sellers?
Scan your competitors and subjacent services: If a contractor is already using a marketplace, they are potentially open to similar offers as well.
Use search engines: Look for active service providers in the region of your interest. Offer special conditions, such as subscription discounts or free access to premium features, to draw the attention of established businesses.
Use social networks: Check out specific groups on Facebook, subscribe to industry-related hashtags, check reviews, etc. Along with finding a few potential users, you’ll have a handful of ideas about how to develop your marketplace further.
How to attract customers to your marketplace?
So, you managed to attract the first suppliers or contractors to your marketplace. Congratulations! But you’re not done yet. No marketplace is successful without a base of loyal users. So think carefully about how you can increase customer awareness of your service. Here are a few ideas:
• Start your own blog or community
• Take part in discussions
• Create a landing page and advertise it
• Look for brand ambassadors
• Cost and Time of Marketplace Website Development
These are the main stages in marketplace development and their approximate duration:
• UX and UI design of a marketplace app - 100-300 hours
• Frontend and backend development - 300-1000 hours
• Quality assurance and bug fixing - 150-350 hours
When starting from scratch, your marketplace app development team should include:
• A business analyst
• Software developers (frontend and backend pros, or full-stack programmers);
• A manual or automation QA engineer, depending on your project needs.
How to Choose a Marketplace Development Platform ?
How to create a perfect marketplace? To build a custom platform from scratch. In any other case, you will face certain restrictions and limitations. Before selecting the necessary platform, we recommend considering the following issues:
• Required Marketplace Functionality
• Platform Functionality
• Pricing
Why Does Your Business Need High-Quality Online Marketplace Software?
A well-tested, flexible and scalable online marketplace software is the key to success for your multi-seller website. MartPro's customizable multi-vendor eCommerce platform has built successful marketplaces for a host of industry verticals and business models. Whatever be your business model we likely have a solution built for it already. All you need is to explore the feature-rich platform and see how easily you can tweak not only the frontend but the backend as well.
For more details, Pls visit our website:
https://www.martpro.net/best-online-marketplace-platform