Aspiring entrepreneurs have started following the footsteps of many successful service marketplace platforms like Uber, Airbnb and many more. The success rate of service marketplaces is quite inspiring and that has led ways to greater openings in this industry.
Let us check out the cool statistical facts about on-demand industries that have inspired every budding entrepreneur to enter the service market.
- Around 42% of the American Adult population have used on-demand services.
- 52% of service providers who have offered their services through service marketplace have increased their income compared to last year.
- More than 33% of service providers are working with more than service platforms.
Let us get into details and analyze the online service platform and its challenges and benefits.
What is a Service Marketplace Platform?
A service marketplace platform is a portal that allows service providers and service seekers to communicate and deliver services by mutually benefitting both parties. Service providers will get work frequently and service seekers will get more options in selecting the service providers at affordable pricing.
The platform will act as a bridge and will process the function effectively. Once the service is delivered, the payment is processed through the service platform. The admin will deduct the agreed commission value from the payment and the service provider can request a withdrawal and can claim his amount.
Why Most Entrepreneurs Use Service Marketplace
Entering into service marketplace business is one of the promising business ideas in recent days. The marketplace trends keep changing often and entrepreneurs need to keep an eye on them.
Many incredible benefits of running an on-demand platform have made the minds of entrepreneurs to step into this industry. Cost factors for building a marketplace service website have grabbed the attention of small businesses. Let us take a clear look at the true benefits of using service marketplace platforms.
Gain Unlimited Business Opportunities
By using a service marketplace, every admin can store huge data that can be analyzed and used further to improve the business.
- Users can customize business practices using those customers’ data.
- Keep in touch with customers and announce about new arrivals and offers.
- Can market any new products through email marketing.
- Users can offer more personalization of products to customers that will increase the conversion rate.
Building a service marketplace platform is quite affordable especially if you go for a readymade solution. If you are a start-up then you can prefer service marketplace software that will inherit all essential features to run the platform.
When you move your business online, you can easily promote your brand through digital marketing tools. Today social media has greater acceptance among audiences. Users can share their service platform in these portals where their target audiences are present. The platform gains better recognition and gets better traffic. This will lead to better conversion.
Advanced Service Marketplace Features to Make Your OnDemand Business Stant Out
To attract the audience to the service marketplace website , then to create an urge to get service and to place an order, one needs to completely rely on its features. Order conversion happens only when the customer is satisfied with your marketplace features.
When you create a service marketplace platform make sure you integrate all the below-mentioned features without fail.
Find and compare – with an advanced search and filtering option, customers should be able to find the service easily, and also, they should be able to compare the service with the multiple service providers.
Admin dashboard – this feature is very essential as the admin of the platform needs to know about the current service orders, completed orders, pending orders, payments completed, and many more that can be displayed in their dashboard.
Online booking – the core and crucial feature that is mandatory in any service marketplace platform. Customers prefer them as they can book their service online and get it done easily.
Review and ratings – allow your customers to rate and give feedback about your service quality that will help others to know about your brand and this will increase your credibility in the market.
Multiple payment options – offer your customers multiple sources to pay for the service they get through your platform. This will make them pay instantly and will increase your orders.
Customizable – the service marketplace website should be customizable as each user have their own way of doing business. And all businesses cannot carry the same pattern. The platform should be flexible for users to make it fit their business.
Challenges in Running an Online Services Marketplace Website
Creating a service marketplace website has many ways and users can easily get their way and can launch their service platform. But surviving the market is the real task that has to be cleared with all efforts.
Let us find out the real challenges that any online service marketplace platform would face.
- Losing platform reputation – service providers who are linked with your service platform may provide poor service to your customers. Customers may not be happy and they will share negative reviews about your platform. So any single mistake made by your service provider will directly affect your platform reputation.
- Gaining trust – this is the most difficult challenge that any admin would suffer to overcome. Gaining customers’ trust is not an easy joke. You need to work more in satisfying your clients and also need to monitor the service quality offered by your service provider. Trust once lost cannot be gained back.
- Handling supply and demand gap – there is a gap between supply and demand. Users find it difficult to fulfill all orders with the available service providers. In some cases, the platform may have more service providers but less service requests. Both situations need to be handled by the admin.
How To Build A Service Marketplace Website For On-demand Business Use Cases
Before you want to know how to create a service marketplace platform, you need to have a better understanding of what is a service marketplace platform. hope you have gained enough knowledge about it. Now we offer you a perfect guideline to build a service marketplace platform for your business.
Know your audience – each business will have its own set of target audiences. One needs to identify his business and what group of people he needs to cover. According to the target audience group, one should start building his marketplace platform.
Select your platform – this is the base for your business as you will start getting orders through your platform. make a wise decision while selecting the platform. you can either build it from scratch or can go for a readymade solution.
Check for features – there are many readymade service marketplace platforms are available in the market. some may have all essential features and some may not. So while selecting, you need to check whether the platform comes with power-packed features. If you are building it from scratch then include all features while developing.
Launch and go live – once you are satisfied with your platform, it’s the right time to go live and reach your audience. Choose a perfect hosting service provider, and with their support launch your platform and start getting orders.
Promote your brand – though you have a perfect service marketplace platform, it will not be enough to get orders on its own. You need to promote your brand and make it visible to your audience so that you can get visitors and expect some conversion
Methods for Creating Service Marketplace Website
The perfect time has come to know how to create a service marketplace website. Pay more attention and start your own service marketplace platform.
There are two genuine ways of building a service website.
Build from Scratch – a very traditional building method that needs more time, money and patience. You need to hire a skilled developer and should explain your business requirements to him. He will build the platform from scratch and will show you a demo.
Once the bugs and corrections are fixed the platform can be launched online. This is not affordable for a startup and the development phase may take a long period to get completed.
Buying a Readymade Service Software – You can get more cloning platforms like airbnb, amazon and many more. The readymade service platform will have all basic and essential marketplace features that are needed to run a successful online service business. Users can pay once and can own the software for lifetime.
If needed you can go for customization and can mold it to fit your business perfectly. The software comes with affordable pricing and it is perfectly recommended for startups and users who look for a budget-friendly platform.
How ZielCommerce Helps You In Creating Your Online Service Marketplace?
Zielcommerce is the most commendable license based marketplace solution that meets the demands of all business sizes. Users have shared their success story and their journey with this stunning online service marketplace and have set their place in the market.
Zielcommerce delivers an on-demand business model and can easily attract service providers through its exceptional features. Get the power-packed, full-fledged service marketplace with an affordable price. Have a deep look on the terrific functionalities and modules that are available with Zielcommerce.
Unique Features of this Service Marketplace
- Software comes with one-time payment and no hidden charges. Pay once and own the lifetime license.
- Multilingual and multiple currency support to attract a global audience.
- Supports several revenue streams that will assure better returns to the admin of the platform.
- Suitable for all business sizes and all business models.
- Reliable payment gateway providers are integrated and secured payment transactions are assured.Proper push notification feature will alert service providers and service seekers regarding their service request and its status.
- Customers can record their review and rating about the platform and its services.
- Dedicated dashboard is assigned for every single service provider.
- Exclusive mobile application is supported that will run on both Android and iOS.
Hope you have gained enough information on how to create a service marketplace website and have deeply analyzed its challenges and benefits. Implement your understanding and build the best service marketplace platform for your business.