How to successfully start an online marketplace in 2018
There are lots of marketplaces which provide people the opportunity to easily solve everyday, domestic, transport, and many other issues. And in turn for entrepreneurs, marketplaces allow combining their work. But even with all advantages given from online marketplaces, not every e-commerce business owner can be unsuccessful.
What could be causing this?
The most common problem for aspiring businessmen is the uncertainty in choosing a niche for the future trading platform. That is an important stage, we could even say that the niche is the basis for creating the successful online marketplace (https://roobykon.com/solution/marketplace).
Look through this article to find out some key factors that could be valuable to use to find an appropriate niche:
1 Define your passions
Think of what you are really interested in, what you are best at. The comprehensive knowledge of your hobby is the best foundation for any business. It is self-evident that a successful project must be based on your passion.
2 Think of the usefulness of your Marketplace!
Your online trading platform should provide a solution to the common users problems. Lots of businesses fail because the entrepreneurs don’t analyze the market and as the result, they offer completely unnecessary things and services for the target audience. Eg., before starting online marketplace with clothes just ask yourself: “What can I provide that compete in this field with already known e-commerce giants or other clothes provider? Will my marketplace able to offer more comfortable conditions for people than AliExpress or eBay? etc.”
3 Clearly identify your target audience
Don’t try to create a website for everyone to sell everything! You should be focused on something definite.
4 Competitive analysis
When you find a perfect niche to develop the marketplace, it’s time to make the analysis of the area and competitors. Make some researches about your most successful competitors — how they organize the whole process. It will give you lots of helpful things to think about, such as how they started, how they organize their team workflow, etc. Use their experience to make your business strategy stronger.
Let’s sum up:
Summing everything up, to reach your main goal, namely, to create a profitable online marketplace, you should have a clear understanding of what exactly you want to sell through your online commerce platform and in which niche you want to grow.
Read the original article: https://roobykon.com/blog/posts/83-key-factors-in-choosing-an-appropriate-niche-for-your-marketplace
We’re all living in the era of the sharing economy. We get around with uber and lyft, rent our vacation residences via airbnb and homeaway, shop through etsy. At Roobykon Software we know how to bring your business into the sharing economy by building your marketplace. We guide our customers right from the idea initiation phase, using our experience to help choose the best platform for the project, before leading development through to a successful release – and beyond.
- Roobykon Software (roobykon.com/solution/marketplace)
- Sepapaja 6, Tallinn 15551, Estonia
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