You may have heard about\u00a0\u00a0“virtual marketplace”. \u00a0As you can probably guess, this refers to sites that require two types of users to be successful: buyers and suppliers. Sites such as Etsy.com, eBay.com, Airbnb.com, and Sittercity.com are good examples. \u00a0These sites are big now, but everyone starts small. You may think that you don’t stand a chance of creating your own marketplace, but you actually do. There are just a few key things to know and keep in mind.<\/p>\n
This is a harder business model to maintain because as the owner,\u00a0you have to market to two different target audiences – the\u00a0typical chicken and egg issue. \u00a0So how can you effectively market to these groups? \u00a0Here are a few suggestions:<\/p>\n
Make your business different than everyone else. \u00a0Sure, you could offer products and sellers for everyone. \u00a0You could have a huge selection that includes typical categories ranging from garden and baby items to electronics. But in order to stand out, you should target a niche group, interest or location.<\/p>\n
Start with sellers. In order for your site to gain traction, you need to make sure it appeals to buyers. \u00a0This will have a direct impact on your marketplace. \u00a0Line up quality and dependable sellers with products you think will do well on your site. Once you gain enough traffic and users, you can become a premier source of products for a specific niche.<\/p>\n