Tag Archives: how to build a marketplace app

How To Create a Marketplace Mobile App?

Building and launching a successful marketplace mobile app is a tough challenge that involves a lot of brainstorming and proactive thinking. The process of creating a marketplace app goes though several segments like market research, trending elements, customer development, target niche, MVP, marketing and scalability of product.

The ultimate success of such app depends on how customers respond to your offerings and whether or not your app has unique value proposition for users to connect with.

Being an avid mobile app development company in India, we keep a constant vigil on how marketplace app landscape is shifting and what is that you need to achieve the competitive edge.

Follow these steps to create a marketplace mobile app that can outshine others:

1) Analyze Your Requirements

Before starting any project, the key is to establish clarity around idea you are working on and expanding into a full-fledged product. It all begins with analyzing your exact requirements and see through them to determine your goals.

You can run a market check and ask people in your group who might have constructive and thoughtful opinions on general expectations from marketplace app. Collect the suggestions on app vision, user types, features and interactive elements, etc. based on these, build a wire frame and specifications.

For all this, you need to collaborate with a mobile app development partner for meticulous guidance and implementation of ideas.

2) Find a Talented Marketplace App Specialist

Performing every single task on your own would be way too overwhelming and exhausting. You need reliable assistance from someone who has extensive reach in the market and proven experience of creating a marketplace app.

There are many online platforms where you can access suitable app development partners and easily collaborate with them. However, make sure you are able to feel compatible with their business model along with their communication practices, pricing structure and project approach.

Take an honest look at their references and past record of relevant projects before shaking hands with them. The marketplace app specialist you hire should guarantee access to the source code and delivery of all the features and design you have proposed.

Read also : Latest eCommerce Trends to Boost Up Online Shopping

3) Define a Strong Value Proposition

Having a unique value proposition is what sets you apart from others in the similar market. Define your goals and create a value proposition that makes your ecommerce marketplace special and considerable. You can build your own niche and invent a space even in the market where such apps exist comfortably. During the phase of proposition development and ideation, you can approach your prospects with a request to share their opinions on how they would like the current marketplace apps to be and improve to deliver more value.

4) Learn From Your Competitors

The journey of building a marketplace app is incomplete, if it does not incorporate achievement of nearest competitors. Keeping a sharp eye on your competition is the best way to determine strength and weaknesses to surpass them.

The following things needs to be kept in track:

  • Star features
  • Market position
  • Target audience
  • Influential content elements
  • Customer acquisition and retention tactics
  • Marketing and engagement activities
  • Business proposition

5) Defining The Business Model

Like every other business, you need to weave a solid business model for building a marketplace mobile app. It is the most crucial aspect based on which your business follows the path to successful customer acquisition and revenue generation.

Devised strategically, marketplace app business model serves as a foundation for company’s performance and drives a momentum you need for consistent profitability.

The central part of this business model is formed by customers who will rely on your marketplace for specific purpose. A clear business model is the one that understands every group of customers and segment them based on their varied requirements.

6) Divide The Audience into Smart Segments

The best way to approach your audience with your marketplace app is to divide them into convenient segments based on:

  • Special tastes and preferences
  • Offers and discounts in demand
  • Seasonal changes
  • Gender-specific or age-specific group
  • Location-specific requirements

If it is related to fashion marketplace then, Men, Women and Kids

  • Budget shopping lovers
  • Young buyers
  • Mature Professionals
  • Senior citizens
  • Frequent and casual shoppers

You can create the best personalized offers and propositions for every segment of customers and serve them the products in the way they want.

7) Building an Impactful MVP

After you have finished working on customer segmentation and market analysis, you can venture into developing an MVP (minimum viable product) for your marketplace app. For this, make the best attempt to build and integrate the most relevant features and functionalities essential to test your idea in the market.

Follow the wireframe you have prepared in the earlier phase for designing the best features. Make sure that  your development partner stays up-to-date with customer feedback and frequent iterations.

To minimize the cost-driven disasters and pitfalls, it is important to take care of iterations during the development of MVP and coding process.

After the success and market fitness of your marketplace MVP, you can think of expansion and scale your original product at a sensible pace.

8) Monitor The App Performance

After you have launched an MVP and before starting to focus on expansion, the vital area of concern is to check the impact of the product on the target market through analytics.

You can track the data metrics for:

  • Numbers of visitors per day/month
  • Conversion rate during the season pick
  • Location-specific engagement and sales
  • Most visited pages
  • Repeat customer
  • Hot/most d items
  • Behavior of customer segments
  • Total sales of products/services on marketplace

9) Monetization and Revenue Streams

Look around for how competitors charge their clients and users for availing the marketplace services and then try to mull over what you can do differently to establish an original monetization system.

Start small by approaching specific customer segments and then make changes as it grows and introduce several revenue channels without compromising service commitments. Usually, a small percentage of earning is charged from both buyers and sellers for creating comprehensive and un-objectionable monetization.

Read also : 15 Must Have Features For Online Marketplace Apps

10) Scale and Expand Your Marketplace

After you are confident that your marketplace app is doing well and has achieved enough crowd of users, you can move towards growth.

a) Target Multiple Platforms: If you have not released the product on most accessible and popular platforms (iOS, Android or Windows), now is the time. To reach more users who use diverse mobile platforms, you should launch the app on those most preferred platforms.

b) Enhance the Functionality: It is a good idea to improve or revamp existing functionality or add new features to give users even more engaging experience and luxury. Interact with users and extract their needs to develop innovative features to their taste.

c) Build a Community: Add elements of storytelling and blogging to let the audience share their opinions and ideas. Such idea is mainly focused on building a larger community and creating more engagement.

You can be more imaginative and organize events that capture further more attention from users.

d) Third-Party Integrations: This tactic always comes handy for any successful online commerce and marketplace app that thrives as users thrive.

Leverage third party integrations such as payment system, GPS services, chat messages or personalized email facility are a few to consider.

Conclusion

By giving an eye to the insight on how to build a successful marketplace mobile app, I hope you are all equipped with the enough knowledge to start and embark on working on the project. In the light of this knowledge, be thorough about market research and details you gather for the development of the online commerce app.

In order to craft scalable app, find a veteran marketplace app development company that has a clean track record, powerful testimonials and ability to offer mature customer-centric capability to your platform.

15 Must Have Features For Online Marketplace Apps

As they say, word-of-mouth is a powerful tool any business can have. To enable this tool, all you need to create is an exceptional user experience for your end users. This is the principle many startup as well as successful ecommerce companies have adopted for their mobile apps. As nearly 85% of consumers rely on mobile applications to conduct online transactions, businesses must understand the potential of delivering pleasant user experience in their marketplace apps.

Mobile technologies provide heroic help in creating a clean and custom infrastructure for cutting-edge mobile apps for online marketplaces. The biggest challenge is to use technology to build a responsive and interactive app feature that engages customers completely. So what are the features for typical online marketplace apps that boost revenue?

15 Must Have Features For Online Marketplace Apps-ad banner

Based on our experience and insight, we have presented the 15 must-have essential features to be noted while marketplace app development:

1. Spectacular Brand Logo

Logo symbolizes trust and brand commitment for online stores. A clear and outstanding logo can also be used to define business promises and identity for online marketplace brands. Built perfectly, it has reassuring qualities and trust value that help attract more users.

Popular brands can create a sleek and fashionable homepage with minimalist features, logo and a captivating image and video that can also persuade visitors to tap on ‘Buy’ button.

2. Simplified and Straightforward on-boarding

Not every customer loves the concept of filling long forms for registration or sign up process that demands a lot of information. Amazon is a typical example of globally celebrated ecommerce app that keeps things simple and easy from sign up to checkout.

 Like Amazon, you can allow users to explore and sign up only at the checkout. They can sign up using their email or mobile number with provision to save information for future use. The simplicity and straightforwardness of user onboarding helps keep buyers hooked and get them through checkout process.

3. Effortless Navigation

Nobody likes to see their space cluttered with uninteresting or useless elements. Your marketplace app should also be deprived of unnecessary distractions that may obstruct user’s journey. To enable smooth and neat navigation, the content of the app has to be optimized for the screen size of mobile screen (which is always limited). Hence, don’t cram mass of content on a small device. Make the app design responsive to automatically adjust to any given screen. Instead, emphasize on having an uncluttered design that encourages seamless navigation. Display your brand products in a clean layout.

4. Use Rich Customization

Users download a mobile app with an intent to take action and achieve the target in minimum time with minimum hassle. Online ecommerce customers also expect an excellent personalized experience while finding the best deals possible.

Customization is key to enabling rich user experience with engaging elements tailored only for specific users. Make sure your app has unique customizable features that complement user preferences and attitude to build a lasting relationship.

5. Search Box For Easy-to-Find Convenience

If your online marketplace app is really huge and showcases a wide variety of products and items, it is vital to have a search box option that helps customers seek and discover the desired item in little time. Customers who especially prefer your store to a specific product, should be able to find what they need without juggling much with keywords.

6. Latest Attractions and Trending Products

In the time of sales spree or exciting events, make it easy for buyers to know about it right there on the home page. When buyers enter your app, they must be presented with the best  offers immediately so that they won’t have to struggle to get to the exclusive deals.

7. Payment System Icons

Now that we are living in a highly dynamic, globally connected world, ecommerce apps can get orders from customers located in any part of the world. And users prefer an effortless payment system including credit cards, debit cards, digital wallets, PayPal or COD. These are primary options for online transactions whose icons can be displayed clearly at the top corners or somewhere near landing page banners or alternatively in a menu section.

8. Online Chat

Customers tend to rush to a customer support at the moment of need. This is why it becomes essential to include the feature of live chat or 24/7 hotline for your online store. Customers appreciate online shops that provide value-added customer service for pre-sale and after-sale problems. People usually go online and explore marketplace apps after workhours, so they expect their inquiry to be handled round the clock.

9. Irresistible Deals and Alluring Temptations

You have only a few seconds to please and coax users who are always quick to judge your app the moment they enter. To beat the competition and capture their interest, make a deal they can’t resist. People feel excited about lower prices and discount offers or even free gifts. you can make they buy under ‘Sale’ tag during peak shopping seasons

10. Reviews and Ratings

It is impossible to go forego this feature for online marketplace app. Reviews and ratings are meant to help customers understand the market scenario. It develops certain clarity and trust between a publisher and customers. With this feature in place, customers are able to express and see their views on listings and sellers can implement a strategy based on user comments.

Read also : Why You Need Mobile App For an E-Commerce Business

11. Push Notifications

Push notifications feature is crucial to making the ecommerce mobile app business successful and profitable. This is one of the undeniable features incorporated by today’s many established online marketplaces.

Push notifications instill instant interest in users and have subtle ability to inspire quick action by psychologically tempting them. You may include time-sensitive offers like hourly promotions, coupons, bank-related discounts or new product launches.

12. Social Media Buttons

After on-site reviews and ratings, online s made by users are often attributed to social media visits. Approximately, 20% of ecommerce s are fulfilled based on what people have to share about d products.

Facebook and Twitter are a few reliable sources for honest general public opinions on everything online. Apart from this, online community on social platforms can drive lead generation based on active prospects. This is why online shops must integrate social buttons.

13. Accurate Product list Management

The way your products are listed and managed on marketplace app matters to a great extent. Sellers must be able to publish and manage the items effortlessly. More accurate the product list is, more there is a chance for visitors to easily locate what they need as they enter your app.

Today, ecommerce mobile app developers have evolved enough to implement superior functionality for product listing (add, view, publish, edit) on marketplace apps which helps customers search, use filters and view detailed info.

14. Security

Security has become a top concern for all digitally powered online solutions. No wonder why GDPR for EU clients came into existence. With personal data being at risk of loss, customers and vendors will not feel confident about joining your online marketplace.

For modern ecommerce marketplaces that process payment details of customers must comply with encryption practices such as SSL digital certificates and PCI compliance. Application of both in your online platform ensures strict data protection and inviolable connections with server.

15. Analytics

From seller’s perspective, having an online business presence is not just about delivering superior user experience, but also about generating constant revenue and keeping customers clung to their business. Analytics assist online shop owners satisfy this motive by offering the clear insight into behavior pattern, buying tendencies, session time, click-through rate, page views and more. This buying scenario displayed by powerful analytics helps make better decisions.

Read also : How Apps Are Changing the World

 Conclusion

While building a marketplace app, you should always keep customers in focus as they are the ultimate drivers of growth. Your online store app, therefore, needs to deliver immersive and interactive user experience with features that stand out from other niche apps in similar market.

Make every attempt to enable simple, intuitive and seamless shopping journey for customers, which eventually pays off in form of increased sales and revenue.