Marketplace Added Options

Marketplace Added Options

Many marketplace eCommerce capabilities include monetizing and putting value on interactions and potential interactions within the marketplace. That would include business add-ons such as giving businesses access to advertise or re-market to users in the marketplace. Possibly even the ability to target those based on the audience information that comes from business intelligence data. This could include not just advertising but also optimal placement within search results, optimal placement within email, and optimal placement within other campaigns. In this article, we are going to dive deep into some of the additional functionalities your marketplace can provide.

Buyer and Seller Interaction

In addition, it's also possible to offer a similar scenario for buyers who might want to purchase the right to interact with or engage different sellers through a verified and confirmed process that the marketplace can offer. So, long story short, it's possible for there to be add-on transactions within the marketplace that can both monetize and bring great value to your vendor – buyer capabilities.

So, the marketplace would allow the purchaser to be able to send out a quote request and then select a group of vendors, but also check the option to select a single vendor or a group of vendors who they want to invite and then potentially check a box to invite others to participate if they want, and then when they check that box to allow others to participate. This would allow the market to then provide that lead to qualified sellers based on how much the sellers are willing to pay or if the sellers are part of a premier membership or possibly based on governance where the best performing service and support sellers get more leads.

The interaction process that would happen there can be fairly detailed where there has to be some concept of in the marketplace a quote and also some concept of criteria for a buyer to search and be able to find different vendors who could fulfill that quote who could provide them with details around that quote that's accurate. Then once that has happened, a confirmation email goes to the buyer and a notification email to the vendor or vendors who can then interact with the buyer around that quote request. So, treating that quote request as essentially the topic of discussion. Making the quote itself modifiable as the buyer and seller interact, as well as allowing the buyer and seller to then put together a freight and shipping portion if that's applicable. Even customs and duties are possibly negotiated based on quantity or other factors as to what the actual price per unit's going to be, or the overall price for a particular quoted order.

IP Protection and User Validation

Some stores have pretty specialized data and the sellers don't want to give that data out to the public freely, they want to verify the users before those folks get access. In a similar fashion, it would be possible to set everything up so that vendors can give specific access to their users based on which products the buyers have already purchased

So a lot of times the buyers who purchased large items that are very expensive, maybe a vehicle or maybe it's a device that's very expensive, will need access to replacement parts. They might need repairs and service done on them and so they would specify what those assets are and what replacement parts they need to get. These could all be shown dynamically based on the intent and needs of the buyer. You will see this sort of configuration with auto parts for a car. You go configure your vehicle and then the site changes the recommendations that are available in filters down to make them specific to your vehicle or vehicles.

Information and Resources Sharing

In addition, it's also really helpful to be able to offer sellers the ability to share their information and kind of prefer advertising around their particular offering to a particular set of buyers who are good buyers. This would be based on resources that would tell you that from the aggregation of performance data, which buyers are rating the particular sellers, which buyers are giving the best reviews, which buyers are purchasing the most goods and then allow the best vendors or sellers access to that group of buyers. There might be a qualification process or rigorous validation of the sellers before they can access that group of buyers and so by doing that the buyers know that the vendors are really well qualified and meet a certain criterion.

Clarity Marketplace Experts

So, ultimately the idea is that the marketplace has a lot to offer well beyond just the pure concept of buying and selling an offering with the market. It's really a community built around a core function of the purchase and selling of quality goods. Through the governance of that community of buyers and sellers, the associated information around those, and qualification of buyers and sellers can be a distinguishing quality in the value that the marketplace provides. Ultimately, giving the marketplace stickiness and enabling folks who apply to place trust in the marketplace. Why that's what's going to make the marketplace extremely valuable in the long run for both buyer and seller! We of course encourage you to reach out to the team at Clarity if you have any questions or would like to review your upcoming project. Below we have provided a list of resources all surrounding the many capabilities and functions of a marketplace for your use.