We’re all using marketplace websites more and more, enjoying the breadth of choice from different vendors in one place. In fact, it’s never been quicker, easier or cheaper to buy things online. Equally, it’s never been easier for businesses to reach a wider audience. While most people enter into a marketplace business thinking they have a brilliant idea, in reality about 70% of...

You’ve already had your great idea, and thought about how you want to present your marketplace. Now it’s time to think about which marketplace platform will work for you.  While there are a number of off-the-shelf multi vendor platform options available, they all have one thing in common – their built-in features will limit what you’re able to do. In addition, there’s the risk...

A marketplace is only going to be successful if the people using it can find what they’re looking for. This is where your marketplace UX/UI and search engine comes in.  It goes without saying, you’re going to need an adequate number of vendors, but more than that, you need to make it easy to match your customers’ needs with those vendors’ products and services....

First impressions count. And with online marketplaces, first impressions REALLY count! Make sure you’ve thought through what you want that first impression to be and how it can effectively communicate exactly what it is that you’re offering, it needs to be easy to understand at first glance to both vendors and customers alike. This ‘dual’ communication can present a bit of a...

Your marketplace pricing is one of the most important decisions you need to make. Primarily this is true of the marketplace commission model where you’ll need to work out the appropriate amount of commission to take. After all, it’s that figure that will add up to make your revenue so you need to get it right. There is no ‘one size fits all’ here, one marketplace pricing...

You’ve come up with a great marketplace idea, you’ve done your research to validate your marketplace, now what? You’ll want your marketplace to have longevity and that means finding a marketplace revenue model that will finance its operations, thereby enabling you to build something successful and sustainable. With the exception of projects that are for charity, or just for...

It’s actually quite difficult to recognise a great idea, and likewise a viable business model. That’s why it’s essential to validate a business idea before starting any UX Design or development. You should be focused on launching your platform as soon as you can with a Minimum Viable Product (MVP), and it’s really only at that stage that you’ll know for sure that it’s...

Good foundations are essential to launching a digital product. Whether you’re a start up looking to launch a multi vendor marketplace, or a large enterprise needing a custom software solution for your business, your project should be fully defined and scoped out long before development begins. The Product Discovery process is especially important when you have a vision but need...