What Is The Best Way For Me To Start My Own Marketplace?

Today we bring you tricks and shortcuts to create your own Marketplace, increase your sales, reduce costs. In short, we will share with you the necessary steps to develop your digital showcase to make it easier for the user to search for a product at any time and place.

The pandemic has triggered interest in the Marketplace and other digital platforms. Or rather, it has brought about a change in the way we consume. And despite the number of modifications that have come with it, people have not stopped buying or selling but have transformed the way they do it.

What is a Marketplace, And What Is It ?

Let’s start with the simplest; it never hurts to remember critical concepts of the digital age. Does a marketplace come to mind? A marketplace is a store of stores. It is a platform where online stores show or offer their products, just as an online shopping center. This digital showcase makes it easy for users to search for products anytime, anywhere. Take Amazon or eBay, for example.

Usually, we refer to it as a marketplace to refer to its electronic nature and differentiate it from the physical market.

The Momentum Of The Marketplace During COVID-19

We can find all kinds of digital platforms that constitute a new way of buying and selling on the internet. Marketplaces, for example, bring buyers and sellers closer together, becoming their meeting point. At the beginning of this post,  boosted marketplace purchases during the pandemic.

If we add to this the necessary social distancing caused by the coronavirus, many physical businesses have seen digital platforms as a golden opportunity to continue operating and avoid closure. In short, to survive. With this objective, platforms have will create for neighborhoods or municipalities, among others.

According to the IAB Sapin Annual eCommerce Study, “there have been 2.2 million new online buyers in Spain in 2020″. The report itself indicates that “marketplaces such as Amazon, eBay or AliExpress continue to be the reference for product information among users, even gaining weight vs. 2019”.

However, COVID has not been the only driver of these platforms. We all like to be well informed about products before making a purchase. In this sense, marketplaces are one of the best sources of information available to consumers today. Their comfort and simplicity make them a place of reference.

Did you know that 3 out of 4 online shoppers search for and make a purchase through this channel?

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3 Essential Steps To Create My Marketplace

Often, when we need to create a custom marketplace from scratch, we turn to platforms like WordPress and WooCommerce on our own. However, professionals developing applications, eCommerce, and marketplaces specialized in creating and launching.

Take note of these steps.

1. It has a domain and hosting. That is an address for your website to work and the home where your Marketplace will live—hosting will rent space on the server’s hard drive.
2. Install WordPress if you haven’t already. This content management system (CMS) allows you to create your website quickly and easily.
3. Next, install WooCommerce. This plugin allows you to implement a functional online store on a website and includes everything you need to start selling online.

In adding to these steps, it is also essential to take these keys into account when creating your Marketplace:

• Get to know your potential audience well before launching into developing your digital platform.
• Part of designing an MVP or minimum viable model to create the first rapid prototype.
• Think of the growth of the Marketplace in phases.
• Do a market study to know which parts you should differentiate yourself from or how your platform should work.
• Reduce the entry barriers that can stop the user from using the platform.
• It has good commercial support that meets the needs of your users.
• Verify all user information.
• Check if you have the proper budget.

Do you have doubts about how to create your Marketplace? Ask us without obligation.

What Kind Of Marketplace Would You Like To Create?

We have compiled the main types of marketplaces that you will find in the market so that you have them at hand: Generalists. As its name suggests, you will find a wide variety of available products and services in any category in them.

Benefits of Having a Marketplaces

To tell you the main advantages of having a marketplace, we will differentiate between sellers and buyers.

For The Seller:

• Increase your visibility.
• Improve search engine positioning.
• It is easier to be found by the user.
• Increase your sales.
• There is agility in shipments.
• It is an additional sales channel.
• Access a large audience.
• Save costs by not having to create your online store.

For The Buyer:

• It has all the products and services in a single digital showcase.
• There is greater availability of products.
• Prices are more competitive.
• You can shop anytime, anywhere.

Are you thinking of creating your Marketplace? Find trusted professionals to launch your project. At Occam Digital Agency, we solve all your doubts.

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