Everything You Need to How to Build Marketplace

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how to build marketplace

Do you want to know the Ultimate Guide how to build Marketplace?

Marketplace is hot platform, mainly AirBnb, Uber, Etsy, Tokopedia, Walmart, Alibaba. Most of marketplaces solve a real problem. For example, Airbnb provides hotel rooms information for travelers, Uber is a transportation app that solves people from traffic jam and Alibaba is community of merchant. Lazada, a marketplace operates in Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. Lazada is owned by Alibaba Group, and has thousands of merchants, generating roughly $1.5 billion in annual sales.

 

1 Getting started

how to build a successful marketplaceDo you plan make a site for booking services or facilitate peer-to-peer rentals? Whatever your ideas for marketplace, you should prepare everything correctly. Validate your idea for business. Find the brilliant idea to solve customer problem. For example we can divide marketplaces into:

Products (Walmart, Tokopedia, Amazon)
Services (Airbnb, Uber)
Media (TravMedia IMM)
Crowdfunding (Indiegogo, Kickstarter)

 

2. Building a platform

Before you start the running marketplace, find out and google if you need software to run your business. In fact, today building the marketplace need no coding skill. Just select the best online marketplace platform to build marketplace. For example WordPress, Magento, Connerce.io ( saas marketplace platform), Drupal, Cs Cart, Saas Sofware

WordPress

Build marketplace with wordpress + plugin wc woocommerce for marketplace. First, install the wordpress, then continues install woocommerce plugin and wc woocommerce muiltivendor plugin.

Magento

Magento platform is very reliable in providing open source cms and many companies and individuals use it. You can check the live demo at http://magento.webkul.com/Marketplace/index.php/decors.html

Drupal

Drupal is one of the best open source to build the CMS website. Drupal enable building and designing of the multi-vendor marketplace without needing any technical knowledge and also provides multiple seller support.

Opencart

This is an open source shopping cart solution that can be used for free under the GNU GPL license. Open cart can build great marketplace with complete features.  Link here https://www.opencart.com/index.php?route=marketplace/extension/info&extension_id=26935.

 

3. Determine a final cost of marketplace website building

The cost of marketplace is based on your choice; using one of the ready-made platforms or building your custom marketplace from scratch.
As you know that marketplace platform cost affordable and quicker. The bad news your site commonly have no big differ with hundreds marketplace. If you build marketplace from scratch, it is really expensive and complicated.

 

4. Build creative and solid teamwork

Teamwork will always support the marketplace and you can discuss your business with them. Teamwork is success key for your business. Building marketplace needs long time compare to other business model. It is maybe about 3 or 4 years.

 

5. Launching and growing the marketplace

After you build your marketplace, it is time to launch it.

a. Creating a simple email list to collect subscribers is a good idea. You can engage with customer and send daily or   weekly email tutorial for customer.
b. Google AdWords is effective PPC to reach targeted customer. Google AdWords is affordable and you can control the budget.
c. Contact influencer before you launch your product. Build good relationship with influencer.
d. Use YouTube to launch attractive video. Contact other vlog to review and post your product video

 

6. Keep innovate
Every competition need innovation. So beside build good marketplace, you need to keep doing innovation. For example, Shopee is one big marketplace from Singapore.  Shopee focuses in three commitments; free shipping cost for the customer, Shopee guarantee and cheap and affordable warranty. It is interesting innovation, because in Indonesian people live various islands.

So the big challenge in building Marketplace is finding idea to solve people problem. Find the unique and useful idea. After that build your desire marketplace and hire talented people. Use smart and relevant media to launch press release. And communicate with your customer and listen to their needs.