Custom Search & Navigation
Sometimes shoppers want to browse marketplace listings, unsure of what they want or need; they will know it when they see it. Other times shoppers know exactly what they want; they want to find it quickly and execute the sale. The best marketplace design will be able to accommodate both sets of customers. Achieving this requires the right site architecture and navigation tools based on user behaviour.
A Lean, Scalable Business Model
Marketplaces offer their owners surprisingly lean, scalable business models. Some of the world’s biggest companies make great examples. Uber, for example, do not own their cars. Airbnb do not own the apartments, and Amazon do not own most of the goods and services they sell. While marketplaces need to sell a higher amount of goods, or services, to break even, the fact that focus is on the platform, and reaching consumers, means that economies of scale are easier to achieve.
This means, in contrast to other digital businesses, new marketplace owners might also be surprised by what they can achieve with a relatively small team.
Shopping has always been a communal experience and social media can replicate that feeling on your marketplace platform. People like showing off what they bought, asking for opinions on what they might buy, and just generally talking about cool products they came across.
Social media offers an easy way spread the word about your sellers’ products and your marketplace in general. Coupling products with personal endorsements by friends drives traffic to your platform and increases the likelihood of sales.
While your buyers and sellers define your marketplace, you are ultimately responsible for it. You will need a set of tools in the shape of an administrative interface that allows you to monitor and make the necessary adjustments to support your customers.