The Importance Of Keeping Your Marketplace Alive

The biggest fear of every marketplace owner is simple: losing your business. Not being able to keep up with your competition and quite frankly losing your money (or investors money). So how can you avoid that from happening? Here are 3 quick tips on the importance of keeping your marketplace alive.

Trial and Error

Get out there are give it your all! Don’t sit back waiting for your marketplace to catch some buzz and waste precious time. Keep it alive by being active on social media and interacting with other potential users or clients. Instead of waiting for the buzz, create the buzz. Who knows how long that can take if you are sitting back and relaxing. No one wants to do business with someone who doesn’t stay up-to-date with their marketplace and is no longer relevant.

Don’t be afraid to make mistakes, I GUARANTEE something will happen. It’s just a matter of being prepared and understanding how to fix the issue. It maybe a user was overcharged a platform fee or someone else didn’t receive the goods they rented. Mistakes will happen every now and then but handle issue as quick as possible to ensure no backlash occurs. Whatever the problem maybe, ensure you are solving the problem for your customers.

Trust Factor

As sad as this may sound, it really is hard to trust anyone these days. Why should I trust your marketplace to provide what I need and not scam me? It’s simple, show your users you are trustworthy. Provide a human relationship that your users can count on with your customer support and make them WANT to stay on your marketplace.

Take AirBnb for example. Once you have booked your place, it’s easy to move off the platform and text details about your stay and other things that may come up. What if I get to my stay and find the toilet is broken? I simply text the owner and mention what I found once I checked in and everything should be okay right? WRONG. There is no proof on the platform that you notified the owner in advance and now the blame can be pinned on you. Now that may sound very unlikely but it can happen to anyone. Be sure to interact on the marketplace to help increase the trust both ways.

Stay Relevant

This will all come down to your processes. Are you part of the solution and not the problem? Don’t give your users the extra headache of shopping cart errors or poor customer support. Go through your marketplace and perform a quality assurance check to avoid getting negative backlash. The minute your customers get flustered with your marketplace, they will jump off your platform before you know it.

The important thing every marketplace owner needs to understand is at the end of the day, they are the middleman. The long-term relationship between a host and user can only go so far. It’s important you stay relevant enough for them to stay on your platform or they will simply go offline and deal with the issues they may have themselves.

Don’t let your marketplace become the laughing stock of your industry. Make a lasting impact on your clients and users to help keep your marketplace alive. I ensure once you start to neglect the ones who keep it running, you will no longer be in business.

Tags: ,