When you need a translator, doctor or any other professional services, how do you look for them? And in particular, how do you make sure that they fit your needs before booking or hiring their services? Before multi vendor marketplaces existed, people still managed to find professionals using the yellow pages or other ways such as recommendations from friends or family. However, B2C marketplaces have directly addressed several pain points of these past methods, making the search and booking process much simpler and efficient. B2C marketplaces create a digital experience for clients, who can browse through thousands of service options to compare them before booking the one which they prefer. They can also use the marketplace to monitor their booking and payment, and even review the experience to help other users who will come after them. For providers, B2C marketplaces mainly provide payment security, guarantees and even the promise of higher revenue, as they can reach a much larger number of potential clients.
This rounded marketplace experience which creates an added value for both clients and providers greatly explains the incredible position that B2C marketplaces have acquired in the service industry and why they are still on the rise. If you are thinking of starting your own online business, this is the best time to launch your B2C marketplace! Interested in learning more? This article dives into the key elements of B2C marketplaces as well as the features required by this type of marketplace business model, and it explores how to launch your B2C marketplace with SaaS solutions like Hatch.
Rome wasn’t built in a day, and Airbnb wasn’t either. Although you might be tempted to think that your B2C marketplace needs to have all the features offered by the top marketplaces in the industry as well as their customized design, trying to build an Airbnb clone might be what prevents your marketplace business from succeeding. Even the most successful multi vendor marketplaces you can think of started somewhere and then built on it to improve until getting to where they are today.This is what is called a Minimum Viable Platform or Product (MVP), which is the marketplace that will allow you to test your marketplace business without months or years of complex developments or a high initial investment. It is important to understand that your B2C marketplace business will evolve so you can manage your resources effectively to optimize your chances of success.
However, if you are thinking that you do not want to launch a B2C marketplace which your users will not love, you are right. Although you want to test and validate your marketplace business, you also want users to love your multi vendor marketplace enough to keep coming back to it. This is why at Hatch we have created a full service SaaS marketplace solution which combines the best marketplace software in the industry with close strategic support. Our team of marketplace experts will work hand-in-hand with you during all stages of your B2C marketplace to help you master the technology, identify best practices and boost the success of your marketplace. You will start your 2-week free trial with a personalized B2C marketplace so you can work on it and test it right away. We will bring our experience and knowledge in the marketplace industry to help you tackle all milestones and optimize your trial to make sure you finish it with a B2C marketplace which is fully operational and ready to be presented to users.
Once you have decided to launch your B2C marketplace, an essential part of the process is to decide your marketplace business model. If you are not sure which one you want to choose yet, we will help you identify the best one, which will allow you to launch your B2C marketplace and also grow it to make it profitable. With our Hatch marketplace solution you can customize your marketplace business model to achieve your business goals. Fixed, variable or combined commissions per transaction? Specific commissions per user? Define your monetization strategy as well as all other elements such as listing structure, booking conditions and cancellation policies.
Another important point to launch your B2C marketplace is to identify your users in order to start your user acquisition strategy. Although you aim to acquire both buyers and sellers, you should first start targeting the latter. They will build the offering of your B2C marketplace and once it gains traction, buyers will come. A good approach to get your first sellers is to target a specific geographical location or industry vertical. If your efforts are focused, you will be able to use your resources better, leveraging your network, posting on social media and reaching out to people to address your target audience efficiently. You can also create content marketing, a blog and a strong SEO strategy that directly targets this audience instead of trying to market to everyone but then reaching no one.
If you want to launch your B2C marketplace, you need a powerful marketplace software which will enable you to launch your marketplace business quickly and easily. Our experience in the marketplace industry has shown that although several marketplace softwares can be used to launch a marketplace, doing so successfully also requires guidance and support. With this in mind, we have created a marketplace solution which combines the best marketplace software with professional support from our team to optimize every stage of the life cycle of your B2C marketplace to maximize your time, resources and growth. You will receive a technology with over 1700 features which are tailored to launch a service marketplace like your own, and together we will make the most of those features as well as all capabilities of your admin back office.
Furthermore, in addition to delivering the features to launch your B2C marketplace, our Hatch marketplace solution goes beyond and has the capabilities to help you grow and scale it. Even if you decide to start with a local marketplace, your marketplace software needs to be able to scale as you grow nationally and across borders. Our marketplace solution already includes native features such as multiple currencies and languages to choose from, automated content translations and integrated time zone management to never hold you back. And that’s not all, Hatch has integrated KYC requirements to verify all types of users all over the world, and can complete secure national and international payments powered by strong payment service providers like Stripe. All payments in your B2C marketplace will be managed with escrow payments to ensure payments, wire transfers, refunds and the collection of fees are managed smoothly without hindering user experience.
If you wish to learn learn more about the Hatch features, contact us and speak to our team! We will be glad to discuss your marketplace business together!