- Search for an excellent and innovative marketplace idea and validate it.
- Select your marketplace business model and set the pricing level.
- Build UI and UX
- Incorporate core features
- Hire skilled and veteran developers
- Launch your marketplace.
- Track key metrics and elevate your business growth.
Giving you nostalgia for the reason that you will know in a moment. Nostalgia about the sad reality of the past, not yours obviously, but the recent history of the world when Covid-19 acted as an alien from another planet and scared the hell out of us. Global Businesses particularly suffered, mourned, and faced an immense shutdown. Such a sad and horror story!
However, you may know the fact that every problem has a SOLUTION. Therefore, from the last year (2020), businesses got innovation in the form of an online Marketplace platform to release them with the pain in inconvenient situations.
Online marketplace apps came forward to act as a magic wand for businesses. This guide will elaborate on the advantages of having an online marketplace app.
What is Marketplace Platform?
You must have noticed that eCommerce platforms have altered the way we shop. Thanks to technology, which has provided us with an opportunity to click and shop online using mobile devices. Similarly, if you own a business, take a moment to feel gratitude towards the marketplace platform enduring business success.
The online marketplace is an online platform for third-sellers to sell their products to customers while the business owner can control the process. In other words, it’s a platform that contains all-sized virtual shops that individual vendors run.
“But I don’t have a marketplace application that could assist in doubling my revenue,” I heard you.
THE ANSWER:
“Simply build one���”
“But how?” I heard you again.
Why Should You Build a Marketplace App?
Marketplace apps are currently the hottest trend in the IT business world. Top and famous examples are Amazon, eBay, Etsy, and many others. These apps show dominancy when it comes to business-customer relationships. Saying that, let’s get into the guide for marketplace app development.
Advantages of Marketplace app development
Smart companies/businesses are launching their marketplace apps or becoming a part of the marketplace platform.
For Business
- Rapid growth in sales.
- Nationwide/worldwide trade without a significant investment.
- The marketplace app is for those businesses that don’t want to invest but want to sell more.
For Customers
- Unlimited products within a single screen.
- Deals and discounts.
- Better customer support.
- Everything at their fingertips.
- Ratings and reviews for simplified decision-making.
Guide to Marketplace App Development
Know Our Business Type
There are three marketplaces types, i.e., B2B, B2C, and P2P. Therefore, decide the segment based on your domain expertise, business type, and interests. It will determine your associated marketing, what kind of networks you should build, help you build promotional strategies and business models, etc.
Choose the Right Business Model
A business plays a vital role as it can change with time, but it can bless your business with lasting success if select right. Such an ideal model should have a blend of essential elements that may include scalability, reliability, flexibility, and other factors that help elevate the chances of success. Then, build out-of-the-box strategies to give your long-term business success and lay a solid foundation to get incredible results out of it.
Build Impactful UI and UX
UI is the presentation and deals with the interaction of visitors with your software, whereas UX is the overall experience of a user with a digital product. So, UI and UX are dependent on each other. Despite having quality products and services, many businesses end up experiencing fewer sales to no sales because of the poor UI and UX. Therefore, it’s essential to keep your website as significant and hassle-free as possible. Build a business marketplace app that could offer your customers sleek navigation through your business app.
It is crucial to build an appropriate prototype and wireframes that exceed your customer expectation and offer excellent customer expectations. This approach will help you gain a user base and enable them to use your application repeatedly to order multiple times, sound good, right.
Decide on App Features
You need to decide what primary core features you want to build inside your app to enhance your overall app’s functionality. The core features are based on three essential panels- admin, customer, the seller.
Customer panel
Customer panel should be based on:
- Registration
Registration helps users to manage their accounts. The phone-number-based registration helps courier drivers find your address hassle-freely by directly contacting you.
- Payment gateway integration
This feature provides users with convenient means of payment. The payment integration should be reliable, fast, and secure. You integrate multiple payment options for customers like eWallets, net banking, etc.
- Feedbacks and Rating
Reviews of customers help business improve their quality of products and services. It allows customers to share their overall experience transparently. In addition, the ratings help users to know about the service quality.
- Real-time Tracker
This feature allows app users to track their orders and measure the remaining delivery time.
Admin panel
Admin panel should be based on:
- Order Management
This feature is essential for efficient order management, enabling the admin to handle all customer activity, right from order to payment.
- The Analytics
This feature helps the admin to keep the record of the orders they dispatched per day, how many sales they increased etc.
- Manage overall activity
The feature helps the admin manage website operations, remove/add sellers or buyers, optimize the supply chain, maintain products, and so forth.
Seller panel
This panel includes all the details about individual sellers, their products and inventory, product catalogs, product images, bank and transaction details, and many other essential features down the line.
Hire Skilled Development Team
Marketplace app development is a complex development compared to the mobile app development process. This development comprises multiple modules and more features to incorporate. Moreover, the essential task while developing a marketplace is maintaining its quality and stability. For this purpose, you can hire veteran marketplace app developers or head to the best marketplace app development company to get a compelling mobile app that can handle heavy traffic during high sale days.
The expert development team builds you an incredible business app that promises you ever-lasting success by implementing the right and appropriate tech stack, best database, and top programming language to launch a robust marketplace development.
Wrap up
You can kick start your career or business anytime, anywhere. All you need is an idea that stands out from others. To weigh up your knowledge, the ingredient that’s important for business is:
- Building a customer base.
- Trust
- Exceptional Traffic on the site.
Build a stand-alone marketplace app in the digital world. The business concept of a marketplace app is different from the traditional eCommerce app. A thriving marketplace app meets the business and customers’ demand, generates excellent ROI and adds value to customers and sellers. Moreover, your selected tech stack will significantly impact your achievements. The top marketplace apps are developed with technology that’s flexible and scales easily, and helps with seamless integration with standard business systems.
So, excited to build your marketplace app? Cool. I will surely buy from you, good luck.
