What features do I need for an online marketplace?

– Alex Glenn This is a good opportunity to share something MVP-tools. In other words, tools/saas/platforms/plugins etc… that allow you to launch and scale a marketplace for cheap. Your platform can begin and get very large running off WordPress now. This was not the case a few years ago. But, with services like WPEngine.com, and new dev teams churning out …

What is the best way to launch a marketplace?

– Alex Glenn I just answered another question, but my answer is almost better suited for your question: Alex Glenn’s answer to What are all the features I need for a online marketplace website? “This is a good opportunity to share something MVP-tools. In other words, tools/saas/platforms/plugins etc… that allow you to launch and scale a marketplace for cheap. Your …

What are the best business models for charging users of a marketplace?

Marco Sánchez has some great answers on this subject, but. I would just add a few more options that are working well at scale: Pay to respond to a bid (for service-based sites like Thumbtack). The reason Thumbtack settled on this business model is because it (a) reduces leakage – lost revenue if/when customers and suppliers interact off-site, and (b) …

How would you approach sales strategy for a p2p marketplace? Specifically, cold calling.

This is very coincidental. We just finished a training session internally to show our interns how to approach [cold] outreach for one of our platforms. Check out this video to start. In it, Sean Sheppard gives some simple but valuable advice on how to go about eliminating “cold” selling/prospecting. I have been operating one strategy for a while now that …

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For an online marketplace, what is the best way to prevent leakages?

Leakage is the result of buyer and seller agreeing to exchange payment information outside of the marketplace. In these cases, if the marketplace’s business model includes a percentage of each transaction, the marketplace experiences leakage – loses money. Here are the top 5 ways to prevent leakages in an online marketplace: Maintaining the “best” users – Don’t let just anyone sell on …

What is the best advice for someone who is just starting a marketplace?

 – Alex Glenn Trim the fat, Capture emails, Set up a nurture sequence and feedback loop. Then, start to scale and go get some more money 🙂 One mistake most will make at this exact stage is to add features to their platform they believe their new paying customers will also enjoy using. The reason this is not always a …

How would one make a site similar to Airbnb in terms of technology?

Alex Glenn If you have not yet startup, I would strongly suggest launching as the AirBnB WordPress theme SpotFinder. I have used this theme to launch directories on sub-directories of my main domain in order to shoot up the SERP, but I have friends who have monetized this theme as is. The greatest thing about it is, you can run …

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Short Anecdote About My Past (with a moral…)

I have a quick anecdote for anyone interested in growth or product marketing: Before I became fascinated with growth marketing, during college, I held a few sale roles with traditional outbound-oriented companies. And I was pretty good. What made me so good at sales was not focusing on or being good at ‘selling.’ In fact, I was an awful salesman. …