Consumers started seeking services to come to their doorsteps. A service marketplace platform does this job perfectly and this has made the on-demand marketplace standalone in the industry. Many eCommerce giants like Fiverr, Upwork have set their milestones and have inspired many budding entrepreneurs.
Another realistic fact is not all service marketplace platforms have succeeded in their business. Many have failed to attain their business goals. It is very important to pay more attention to certain aspects that can have a huge impact on your business.
Let us check out the prerequisites that are very essential for any on-demand marketplace platform.
Identify challenges that can be obstacles for your business
Every business will have challenges that are to be confronted to reach its goal. Likewise, the on-demand marketplace has several challenges that will pull you down. We need to identify those problems and should have solutions for them. There can be difficulties in inventory management, on-time delivery issues, secured payment processing, and many more.
For all these issues you should find solutions and should implement them in your service marketplace platform. This will help you to overcome the obstacle and can set you free. This identification process should be done before you start building your service marketplace platform.
Also Read – What is QuickBooks Workforce
Study on market demands
Market demands keep changing over time. It is not stable, and you cannot blindly assume the market and proceed. You need to do some market research and should find out which services are in high demand and which user groups show interest in approaching service marketplace platforms.
By analyzing the demand, you need to pitch your service platform to the right audience. You can plan your services and reach your target audience in their available locality. This will get you more traffic and you can expect some better conversion through your on-demand marketplace platform.
Monitor your competitor
The major reason why many service marketplace platforms fail in the market is they will not check on their competitors. Without having any idea or any strategy they will directly enter the crowded market and will be thrown away easily. You need to keep an eye on your competitors and should know what strategy they are using.
Check all features they offer to their customers and make sure your service marketplace platform inherits all those features to beat the competition. Regular updates are very important as customers will always seek innovation. They want to experience new technologies and want to gain a better shopping experience.
Get to know the current pain points faced by service marketplaces
Every service marketplace platform will be facing many pain points that they find difficult to get solutions to. You need to identify them and make sure you have solutions ready to confront them.
A few common pain points for any on-demand marketplace platform are providing quality service, making customers trust our brand, providing a secured platform, and many more. As an admin of the service platform, you should have unique strategies that will help you to sort these issues easily and retain your service providers and customers in your platform.
These are the basic prerequisites that need to be focused on before you launch your on-demand marketplace platform in the market. Now let us check out what are the essential features that are mandatory for any service platform.
Must have modules of any service marketplace platform
- Enchanting UI & UX – there is no compromise in the design as it gives the first impression about your service platform. Your UI & UX should be unique and mobile responsive. It must grab the attention of the audience and support you in getting a better conversion.
- Customization & scalability – customers seek changes, and you need to offer them a new look and style every time they enter your service platform. So, customization is a must-have feature. Also, you need to have the same platform for years and as your business grows your data also grows. The platform should be scalable to hold a huge database.
- Multiple payment options – the admin will receive payments from customers and will pay to sellers after deducting the respective commission value. So, payment transactions often happen within the platform and your marketplace should offer multiple payment options that will support better security to customers.
- Customer support – satisfying customers is the key tool to get your service platform to succeed in the market. For this, your on-demand marketplace should contain multiple communication channels that will allow customers to easily communicate with service providers before they order their services.
- Push notification – as you need to update your platform often, you should inform your customers and service providers regarding new arrivals and offers. This can be done through the push notification feature. This will help you to reach your customers and service providers instantly and deliver the message you want them to know.
- Reviews and rating system – never miss an opportunity to get customers’ feedback about your service. This will support you to enhance your service marketplace platform and will support you in acquiring more new customers. Let them rate and review your service and allow them to share on their social media pages. You can get greater reach by having this feature in your online service marketplace platform.
- In-built marketing tools- promotion and marketing are very essential to increase your revenue. It is very important to have inbuilt marketing tools in your on-demand marketplace. Make it SEO-friendly so that you can get easy search engine page ranking and that will increase the platform traffic with less effort. Without spending much on marketing you can gain more audience to your platform.
Make your on-demand marketplace a perfect platform for customers and service providers and let all be benefited from it. Check on the latest technologies and try to implement them in your service marketplace and make them more creative to your audiences. “Success is not a destination. It is a journey”. Keep this saying in mind and keep moving forward.