{"id":3846,"date":"2022-01-24T22:21:45","date_gmt":"2022-01-24T16:51:45","guid":{"rendered":"https:\/\/www.guidegeekz.com\/?p=3846"},"modified":"2022-01-24T22:21:45","modified_gmt":"2022-01-24T16:51:45","slug":"how-to-create-an-online-marketplace-step-by-step","status":"publish","type":"post","link":"https:\/\/www.guidegeekz.com\/how-to-create-an-online-marketplace-step-by-step\/","title":{"rendered":"How to Create an Online Marketplace Step by Step"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Some of the world\u2019s most popular websites are online marketplaces. For example, platforms like Amazon and eBay have millions of daily users. They also make billions of dollars per year. In this article, you\u2019ll learn how to build a marketplace website, as well as what you should know when launching this type of business.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How to Build a Marketplace Website in 4 Easy Steps\u00a0<\/span><\/h2>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>\u00a0<\/b><span style=\"font-weight: 400;\">Types of online marketplaces\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u00a0How to create an online marketplace website\u00a0<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">2.1. Come up with an idea<\/span><\/p>\n<p><span style=\"font-weight: 400;\">2.2. Build your prototype<\/span><\/p>\n<p><span style=\"font-weight: 400;\">2.3. Build your MVP<\/span><\/p>\n<p><span style=\"font-weight: 400;\">2.4. Develop your user base<\/span><b>\u00a0<\/b><\/p>\n<h2><span style=\"font-weight: 400;\">Types of Online Marketplaces\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Online marketplaces come in three categories. These include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business to business marketplaces.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business to customer marketplaces.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Customer-to-customer marketplaces.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In addition to this, marketplaces can utilize one of these business models.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commission-based business model.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Subscription-based business model.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Listing fee business model.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Paid promotions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Advertising.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">How to Create an Online Marketplace Website\u00a0<\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">2.1. Come up with an Idea<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">What you have to realize is that competing against the existing marketplace is almost impossible. This is why you need to choose a niche where there is very little competition. Try to think of a unique problem that your marketplace can solve. Who are you going to sell to, and what are their exact specific needs. How big is this market, and can they support your idea? Also, think about your competition and what type of business model you\u2019re going to use.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">2.2. Build Your Prototype<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Start by designing your marketplace on paper. Doing this is a great way to think through your idea and is useful if you\u2019re trying to attract investors. Once that is done, you\u2019ll start to actually develop the platform. In order to <\/span><a href=\"https:\/\/www.aimprosoft.com\/blog\/build-marketplace-website-right-save-money-time\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">create an online marketplace<\/span><\/a><span style=\"font-weight: 400;\">, you\u2019ll probably need to hire developers. When doing this, it\u2019s a good idea to create extensive project documentation. This will serve as a guide for developers. It will also help you save time and money.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">2.3. Build Your MVP<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This acronym stands for the minimum viable platform. This is basically the point where your platform is fully functioning. If you\u2019re wondering how to make a minimum viable platform, there are several boxes you need to check. First, development should be complete, and the platform must be online. Second, sellers must be able to list their products or services. Third, buyers must be able to browse the site and place orders.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When building your MVP, it\u2019s a good idea to keep things as simple as possible. This is because the aim of your MVP is simply to test the viability of the platform. For this reason, you do not want to spend too much money on design.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">2.4. Develop Your User Base<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Attracting buyers and sellers is the most difficult step when you build a marketplace website. The reason why is simple, without sellers, you won\u2019t attract buyers. The opposite is also true, without buyers, you won\u2019t attract sellers. It\u2019s sort of like the question \u201cwhich came first, the chicken or the egg.\u201d So how do you do this? Here are a few ways to get started:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finding sellers:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u00a0Find sellers on other marketplaces: Tell them about your marketplace, what you have on offer, and ask if they want to join.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u00a0Use search engines: Look for people who are selling products or services related to your marketplace.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u00a0Use social media: you can usually find groups of sellers on social media. These are great places to find recruits for your platform.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Finding buyers:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u00a0Start a blog: a blog about topics related to your marketplace. Use SEO to rank these posts and bring in visitors.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u00a0Use social media: build a community for your marketplace with platforms like Facebook and Twitter.\u00a0\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u00a0Use paid advertising: with online advertising, you can find people who are actively looking for your service.\u00a0\u00a0<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Final Thoughts\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Marketplace websites are the future of the internet. Platforms like Amazon and eBay are only getting bigger. Not only that, these platforms make billions and have almost completely replaced traditional forms of selling and buyers. With these steps, you can easily build a marketplace website and join in their success.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some of the world\u2019s most popular websites are online marketplaces. For example, platforms like Amazon and eBay have millions of daily users. They also make billions of dollars per year. In this article, you\u2019ll learn how to build a marketplace website, as well as what you should know when launching this type of business.\u00a0 How [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":3847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1320,661],"tags":[1963],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Create an Online Marketplace Step by Step - GuideGeekz<\/title>\n<meta name=\"description\" content=\"In this article, you\u2019ll learn how to build a marketplace website, as well as what you should know when launching this type of business.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.guidegeekz.com\/how-to-create-an-online-marketplace-step-by-step\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Create an Online Marketplace Step by Step - 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