Creating a Marketplace: 5 Steps
Product discovery
Our team of business experts will gather data on your business idea, market characteristics, business model, and the viability of the future product. We’ll help you choose the right type of marketplace (B2B, B2C, C2C, etc.) and user acquisition techniques and conduct a SWOT analysis to help you quickly conquer the market and generate the first profit.
- Planning and design
Our task is to build a marketplace that will provide users with value the competitors are unable to give. For this, we will use the data from the previous step to plan out the project (time frame, budget, team composition, technology stack, etc.). Together, we’ll decide upon the marketplace features, validate the prototype, and move to building UI/UX design.
Marketplace development
In the marketplace development process, we will follow the latest industry standards and mind the expectations of your target audience. Our team of software engineers and marketplace business analysts will do their best to ensure that your custom marketplace differentiates from competitors.
QA and optimization
Marketplaces are supposed to handle big traffic of businesses and customers. Whenever the solution goes down, the marketplace provider loses profit. Forbytes team of marketplace developers will test and optimize your solution before it goes live to help you prevent such situations. Each piece of code will be tested to ensure maximum performance and effectiveness.
Launch and support
Building a marketplace website is halfway to success in the market. Another part of the work is to ensure stable performance and maintain the software. Forbytes’ dedicated team will take responsibility for the marketplace deployment. We will offer support for the product, add new features per user request, and make sure that your product is up and running.
Our Custom Marketplace Development Services
How to build a marketplace that will attract a solvent audience? The answer is to choose the right online marketplace type for the right client:
B2B marketplace development
B2B marketplaces are used to sell products to businesses that then resell the products to the end clients. Creating a marketplace website for the B2B audience is a challenging task. Your online marketplace development partner should have the e-commerce background to build features that allow for quick data exchange between businesses, task automation, and easy catalog and payment management.
B2C marketplace development
B2C marketplaces are those that enable businesses to sell products to end clients directly on the platform. A B2C marketplace site should be easy to navigate for end users. It also should be intuitive for businesses and have a clear interface with dashboards and management features. B2C marketplaces should include convenient communication tools that will contribute to higher conversion.
C2C marketplace development
С2C marketplaces connect clients with other clients. They can offer services or sell goods to each other. C2C marketplace app development will enable you to generate profit from the flexibility and convenience that you offer to the end users. With our help, you will build an SEO-friendly solution that will quickly generate traffic and earn good customer engagement.
NFT marketplace development
Last year, the NFT market sales grew to $15.7 billion. This novel and unchartered industry provides attractive revenue opportunities for ecommerce businesses and startups. Using a marketplace app, NFT traders can exchange, sell, and purchase non-fungible tokens. If you decide to dive into NFT marketplace development, our engineers will help you build a responsive and integrated solution.
Mobile marketplace development
The growing mobile audience requires businesses to elaborate on mobile-first and mobile-friendly strategies. Before building a marketplace, we will research your target audience and decide upon the necessity of mobile development. Our team can build a mobile marketplace application or optimize your marketplace portal to mobile user needs.
Multivendor marketplace development
Building a marketplace for multivendor commerce is a very attractive opportunity for consumers. Using such a platform, they can review multiple offers by different vendors and choose the best one. The owners of multivendor marketplaces can profit from ads, extra opportunities offered for businesses, or the fees that businesses pay to expose themselves to the marketplace.
Here’s How We Add Value
Best domain practices
One of the main domains that we focus on is ecommerce. Forbytes specializes in ecommerce development for more than 11 years. We are aware of the twists and challenges of this market and can help you create the best marketplace solution that will satisfy the client’s pains.
Ready to scale
We write code with business goals in mind. Marketplaces are scalable solutions and require the development team to maintain supreme code clarity and quality. The marketplace product we’ll build will be ready for scaling and growing traffic and will be well-protected against vulnerabilities.
Broader opportunities
Creating a marketplace with our help will open new revenue opportunities for your business. Apart from offering your own products, you will earn from other businesses offering their products or services on your platform. We will share our practices and industry insights to help you quickly enter the market.
Early delivery
In marketplace website development, we follow the Agile philosophy. It enables our team to deliver results continuously starting from the early project stages. You won’t have to wait for the project to finish to see how it evolves and improves. As a marketplace owner, you will get full control over the progress.
FAQ
What is the difference between a custom marketplace and a SaaS marketplace?
Custom marketplaces are built by a software development company from scratch. In this case, a client pays for the development and maintenance of marketplace solutions. SaaS marketplaces are those offered by third parties. If clients use a SaaS marketplace (like Amazon or Etsy), they pay a regular fee for the use and not for the creation.
What are the examples of marketplaces in different industries?
Let’s mention a few:
- Healthcare. The healthcare marketplace platform can connect doctors with patients and be the place where patients can choose a doctor, view their rates, book an appointment, and more.
- Logistics. A custom platform marketplace for logistics is a portal where businesses access information on logistics providers and order their services.
- Education. These can be education marketplace platforms where learners look for a tutor, assess eLearning services, share their feedback, etc.
- Fashion and apparel. Fashion industry marketplaces can connect fashion retailers with manufacturers and suppliers or/and customers. Such marketplaces gather many brands in one place and help them promote their goods to a bigger audience.
