July 19, 2018
How to Improve Buyer and Seller Loyalty Within Your Marketplace
Forrester Research reports that online marketplaces are one of the fastest growing categories of commerce, accounting for 50% of all online consumer transactions in 2016. For virtually any industry you can think of—travel, classifieds, ride sharing, and more—there’s bound to be at least one marketplace in the space you choose.
Marketplaces are unique in that they involve 3 streams of communication – messaging between the platform operator, buyers, and sellers. The fact that buyers and sellers need to communicate with each other directly often is a hurdle for transactions. On the other hand, retailers have minimal interaction with consumers since users can make their purchases without worrying about logistics.
Given the complexity of marketplaces, it’s important that communication is effective and seamless at all times. To do that, they often turn to AI-powered extreme personalization solutions such as Kahuna. For those unfamiliar with the term, we’ve discussed it in this blog, but in essence it involves using technology to send messages and notifications at a 1:1 level so that users receive the right message, at the right time, via the right medium.
Rather than relying on expensive infrastructure, Kahuna leverages Google Cloud to power its personalization solution and help marketplaces improve liquidity through intelligent messaging. Some key results from the partnership include:
To learn more about how Kahuna uses Google Cloud to meet the ever-changing demands of marketplaces across the globe, check out the full case study here.