A two-sided marketplace needs two players - buyers and sellers. You need a healthy amount of traffic of both kinds of people to make sure you can run a profitable online business. A two-sided marketplace can be notoriously difficult to fire up and get off the ground. It can take a long time to build up traffic and consumer activity on your website and convince people that your platform is the best place for them to conduct business. Your two-sided marketplace can consist of distinct buyers and sellers, or it can be people who use the platform to both buy and sell products and services at various points of time.
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In the beginning, convincing sellers to sign up on your platform will be incredibly difficult and you will need to have enough funding and/or professional grit to sustain your ecommerce business for at least six months. Do not expect results within two weeks. It can take months before you build your marketplace brand and start driving customer traffic through search engine optimization, content marketing, YouTube videos and social media advertising. You can sign up on Blipteam and build a two-sided marketplace website with just a few clicks. The tech is easy and all you need to do is sign up real sellers who want to put up some listings. These can be listings for clothing, motor parts, toys and electronics. Or these can be property or rental listings. Or you can have information listings for services on your two-sided marketplace.
In the beginning, no seller will want to sign up on your marketplace if you do not have any customer traffic. You can, however, build up customer traffic through content marketing and seo. You may also have to experiment with Google ads and PR and offline events. You will also need to give your sellers very good incentives to add listings to your website in the early days. One good way of building up momentum is to concentrate on a very narrow segment of your market. Build up critical mass - sellers, marketing and customer traffic - in one area and work on delivering the best in that segment before you expand to cover a wider portion of your market or industry. Get in one side of the business first. This will probably be an initial group of test sellers who are willing to collaborate with your brand. Show them how to create listings and set up payments on your Blipteam website and then launch marketing efforts to bring in the other side of the business - your customers.
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Blipteam is free to try. Just dive in and start building - we have a checklist inside the app that will help you complete your online marketplace and start driving some sales: