One of the most frequent questions in e-commerce today is “how to create a marketplace?”. With the evolution of this technology, many entrepreneurs like you have thought about taking this path. But is it worth it?
However, before answering these questions, I think it's important to summarize what a marketplace is for those who still don't know what it's all about. Marketplace is a business model in which multiple stores sell from a single website as if it were an online mall.
Therefore, when setting up a marketplace you will have to strive to integrate two different audiences. On the one hand, it will be necessary to attract and facilitate the adhesion of shopkeepers (sellers) and, on the other hand, to attract and engage consumers. Then the merchants pay you a commission on every sale.
Well, how, finally, to set up your online shopping mall? We'll see later. Keep reading!
Access and read also “ What is a marketplace ”. Learn, in this way, the main characteristics and technologies of this type of business.
HOW TO CREATE A MARKETPLACE: BASIC TIPS
Very well, if you are thinking about how to create a marketplace, start thinking about the following topics:
Investment:
Unless you have a lot of money to finance yourself, to start a marketplace project you will need an investor. To get an idea, look at how much companies have spent just to get started:
- Martins Group: invested R$15 million in a marketplace with 200 sellers;
- Part Channel: invested R$16 million in a marketplace with 800 products;
- Iguatemi Group: invested BRL 15 million in a marketplace that currently has around 80 brands.
So, if you have the idea, but don't have the money, then start exposing your project to investors and accelerators interested in this business sector.
Platform:
Given that the trend of marketplaces is the growth in the number of shopkeepers, consumers, accesses and online purchases over time, it will be necessary to have a robust and scalable platform.
A scalable platform supports growth with no lag and no major mishaps. It enables visitors to move through product pages quickly. In other words, this type of technology provides better usability for everyone involved.
Furthermore, it's necessary to distribute the payment made by the consumer to merchants, carriers, gateways, and other parties involved, without forgetting your commission. The system that does this automatically is payment splitting , which the platform should ideally have.
So, throughout the planning stage, try to find out more details about different platforms. If you can, visit the suppliers of these systems to find out. In the end, choose the best one for your project.
Content Curation:
Imagine a marketplace like Orbia (from Bayer), which has over 140 sellers. These sellers, in turn, will be sending new photos and product information to the online shopping mall every minute. This can't be allowed to get out of hand. Someone will have to bring order to the chaos.
This means that it will be necessary to maintain a team of collaborators, who must filter the information. In addition, this team of employees will need to prepare the content from an SEO point of view and thus enable internet users to find the sales pages in search engines.
According to the article " I want to set up a marketplace " published by Rafael Campos on the VTEX blog, content curation is one of the most difficult steps in managing online shopping malls. Therefore, this should receive special attention during the planning phase.
Marketing:
What most attracts merchants to marketplaces is the targeted audience that visits these e-commerce sites. However, there will be no audience visiting your marketplace if you don't spread it to the four winds.
Therefore, it is necessary to invest heavily in various types of marketing , and especially in digital marketing. Sponsored link campaigns, social media ads, and email marketing, for example, should run continuously.
In addition, Marketing should also be used to convince new merchants to join your platform. Constant disclosure will keep shopkeepers and consumers engaged with your business.
Access and read our article “ VTEX marketplace ”. Learn how to set up your own marketplace or how to act as a seller within a third-party online shopping mall via the VTEX platform.
CONCLUSION
The basics of creating a marketplace involve securing funding, choosing the right platform, managing content, and accelerating marketing. When planning, remember that you need to manage all back-office and front-office activities of the business.
Once this is done, it can be very worthwhile to set up a marketplace. The investment of time and money is great, and it takes a lot of delivery for the thing to happen, but the return can be worth all the effort.
Access and read the article " Marketplace or online store " as well. Discover which of these two opportunities is better for those entering the e-commerce market.
