How to Build Your Marketplace Customer Base

One of the most important things in any business is building a (hopefully loyal) customer base. Your job as the owner of a marketplace is to connect providers/suppliers to the customers that need their needs fulfilled.

Assuming that you’ve already built your marketplace whether it’s on your own or through a marketplace platform, you should be ready to start your marketing. The best way to reach out to potential customers can go down in different ways. Today we’ll discuss some tips to help you jumpstart the exposure of your marketplace.

1. Taking The Time And Researching

Researching your customers should always be at the top of your list. Getting to know your customers beyond what you already know can lead you to insights that can help build your marketplace. On the flip side, doing research may also prevent you from investing in certain campaigns that would not have worked for you. Find out what your ideal customers are like, what they do, where they work, and anything that gives you an idea of what their lifestyle is like. These pieces of information can help you find out what social media platforms to use, what time to post things, and where to advertise.

2. Partnering With Businesses And Influencers

Any easy way to build your customer base is to work with a non-competing business that has an overlapping customer base. Generally both of the companies will do better with a partnership as a cross promotion can be accomplished. You may offer a package deal with your partner and your product or service. Ideally you’ll link up with a company that is doing fairly well in order to get the return you expect.

Influencers are also another great way to jump into the market. The beauty industry is a huge user of influencer marketing. New products may be sent to Youtubers and they review their products on the platform. These partnerships can expose your company to hundreds of thousands of people without doing much work.

3. Providing Excellent Service

Acquiring new customers is always a priority but keeping current customers is just as important. After the first transaction you should hope that your customer chooses to use your marketplace again in the future. This comes to the point that providing excellent service is a significant part of maintaining and building your customer base. Your response team should be knowledgeable, compassionate, and helpful in any given situation. Try your best to resolve issues in a timely manner. This can turn bad reviews into lessons learned while keeping your customer happy.

4. Utilizing Social Media

Social media is the big dog of marketing in recent years. You can’t scroll through an Instagram feed without bumping into a sponsored ad. The competition for ad space on the internet is fierce while the interaction with your potential customers is brief.

Invest in creating ads that attract and spark the curiosity in your potential customers. Many people don’t want to be interrupted during their social media trances so make it worth their time and add some simple CTAs to let them know more if they want. Facebook, Snapchat, Instagram, LinkedIn and Youtube are all great avenues to go down depending on the budget you have. This goes back to our first point of doing research, so get started!

These basics should get you started on building a great customer base. Be consistent with your content and showcase the emotion of your company. Good luck!

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