Do you want to build a marketplace startup? Here are a few steps that might help you reach your goal.
The first step is deciding what kind of marketplace you want to build. At this stage, we recommend asking three simple questions:
- who is the targeted audience of this marketplace?
- what are they going to post there?
- will your marketplace provide visitors with exceptional advantages while being easy to use? how are you going to attract them?
Validate your idea
Building a marketplace startup is a process that requires a lot of acceptance. First, create a trustworthy platform for your products. You should be able to answer important questions regarding
- customer problems
- the solution to these problems
- key metrics to track your progress
- the unique value proposition
- unfair advantages
- channels to reach out to your customers
- customer segments
- cost structure and revenue streams
Build the first version of your products
MVP (Minimum valuable product) will help you determine the value of your product. MVP should contain at least one unique feature that makes your product stand out from others. Keep in mind, creating an MVP might cost a lot of money, time, and effort, but you can do it for free!
8tra.de is an exceptional tool allowing you to create a marketplace in just a few simple steps.
Get customer feedback
When your MVP is ready, it’s time to provide as much product feedback as possible. Get in touch with your potential audience with channels like:
- social media
- personal/business connections
- find gatekeepers to advertise your product
- create email campaigns and ads
It’s very important to hold people’s attention in order to trigger a snowball effect.
Build your final product
When you have approved your business model, it’s time to start building your marketplace. It should contain a one-of-a-kind custom design, improve its functionality, and other unique features you have incorporated into your plan. If you are not an IT expert, we highly recommend you find a specialist to help you out.