The marketplace is an online platform where people compare products and buy them from plenty of sellers. Generally, an eCommerce site is considered as a marketplace. Some of these sites are Amazon, Flipkart, Alibaba, etc. However, there can be marketplaces where investors could help service providers with their businesses. Today, we see lots of marketplace startups from all around the world. Only a fraction of them are successful. There are certain features that help the marketplace expand. In this article, I will tell some marketplace features that will land more customers to your platform.
MarketPlace Features That Will Attract More Buyers
1. Customized Navigation
There are often times when customers are not sure about their demands and they want to see marketplace listings. Things get easy for them when they see a user-friendly marketplace listing. Thus, your listing design should be well-structured. A marketplace design with a soothing look will entice more customers on the platform.
2. Detailed Product Listings
It is always nice to list all the features of a product with the help of interactive GUI. Since people cannot check out the products before purchasing them, you can give every possible detail about every product. This will give some traditional market experience to your buyers.
3. An Efficient Payment System
Marketplaces will be ruined if they are not backed with a reliable payment system. Also, customers cannot pay with cash in exchange for buying products. A payment system that is quick in completing the transactions could easily scale up the performance on an online platform. In addition, the payment system should have an efficient mechanism for refunding.
4. Review And Reputation System
Reputation is something that takes a very long time to build. Positive reviews play a major role in securing a good reputation since the bad ones would simply destroy it. Your platform should have a suitable feedback mechanism for both parties. With this, you are allowing both buyers and sellers to better interact with each other.
5. Strong Social Reach
Social media platforms are known to heighten the awareness of your marketplace. Most of the people could be found browsing some cool products. Nowadays, people have a habit of bragging about what they have brought. Therefore, social media platforms could help you spread awareness about your platform and seller’s product. Getting your friends or closed ones to support your product will simply drive more traffic to your site.
6. Efficient Order System
The process of checkout should be efficient after the customer is done with shopping. In addition to this, your system should appear comfortable and intuitive to the customers. For achieving that, you should minimize the steps required during the checkout. If your system is too sluggish, customers will simply leave it without doing the payment.
7. Mobile Friendliness
With the advent of new smartphones, all the people are shifting towards them. They do not spend much time on their laptop now. It’s important to work on the mobile-friendliness of your platform as more and more people will reach you through their smartphones. Using graphics that take less space will be enough to make the mobile view more pleasant.
8. A Good SEO
SEO(Search Engine Optimization) is a technique that is used by digital market agencies to boost traffic on a platform. Getting more and more traffic secures a higher rank for a website, which is also a primary goal of SEO. You should find a good digital marketing agency and spend as much as you can, to get a good amount of visitors on your platform.
9. Dashboard That Performs Analytics
In the online world, a platform will simply die if it fails to evolve. Competition is at its high and you will be left behind if you are not willing to progress. Your online marketplace should have a proper analytical system, which could give you data about best sellers and ideal customers. Also, you can find out the products which have observed no sale. An analysis is a major part of marketing, and you should efficiently use it for your own benefits.
10. Well-timed Delivery Of Goods And Services
A platform that does delivery on time is very much liked by the people. Make sure that your entire system could handle most of the situations within a specified time. If the number of customers gets increased, your system should not hang. You can analyze the time-consuming process and try to work on them.
Thus, from this article, we have seen some marketplace features that could enhance the productivity of your platform. With more and more marketplaces emerging, startup funding for such platforms is also growing. Marketplaces require lots of funding support in comparison to other startups. In countries like India, marketplaces have a good chance to expand. Also, crowdfunding for startups in India is easily accessible due to the country’s second-largest population. You can follow my tips and implement them to see more successes with your online business.