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The rise of sharing economy has caused the growing number of marketplaces — online services that connect customers and service providers. Online marketplace is a unique business model beneficial for all the members of the process.
He benefits from having additional sales channel and the ability to reach more potential clients.
He has a chance to build his own business without producing goods or providing services directly. He is a middleman, a third party that takes over the operational part of transactions and charges a fee for his services.
The one who has the ability to view and compare more products or services to choose the one that matches his needs better.
Developing a marketplace requires a specific approach, first of all because this product has to target two completely different audiences: producers and service providers on one hand, buyers and consumers on the other hand. Satisfying the needs and expectations of both groups is the key to success
Dreaming about developing another Airbnb? Than we have to disappoint you, duplicates aren’t interesting to anyone. A marketplace web app won’t reach success unless it offers something unique. It is important to research your competition, to analyze their offers and find out what can make you stand out from the existing services.
To generate revenue, each marketplace needs an efficient and democratic monetization model. One-time payment, monthly subscription, or percentage from each transaction - it is important to choose the one (or a combination of several), which works best for your particular audience.
A marketplace receives money from a buyer as prepayment, and transfers money to a seller after the deal is completed. As a result, the payment gateway should be able to hold the funds in escrow, to make payments secure and prevent marketplace app users from fraud.
A marketplace application will grow only if it solves the real problem of its users. Building an MVP and showing it to your audience at an early stage may prevent you from developing a product users won’t appreciate. Timely feedback helps to create an attractive sales channel for service providers and convenient shopping platform for customers.
We aim to find out as much as possible about the target audience of the product and its existing as well as potential competitors. This theoretical information is a basis for creating a strong product which definitely wins its market share.
We work with marketplaces from all around the world starting with idea polishing through agile development with multiple iterations up to a successful launch and beyond. Marketplaces developed by Clockwise Software can be found on app stores and are downloaded by users from all over the world.
Submitting your marketplace to app stores isn’t the end goal of our cooperation. We offer complex marketing services to increase customer awareness about the product. We make sure that the marketplace works and generates revenue.
We are ready to take responsibility for each software product developed by Clockwise Software team. That’s why, we do not farewell our customer when the product goes live, but offer comprehensive support to quickly fix any issues discovered upon active usage of the application.
We can offer our expertise in developing custom online marketplaces. Let our cases inspire you.
Got an idea for an online platform? Read our detailed guide on how to create an online marketplace. and get the approximate development time and a cost estimate.
Business Development Manager
Based on his comprehensive experience, Eugene knows how to build a marketplace that both service providers and customers will appreciate!