December 3, 2018
Four Ways to Boost Marketplace Transaction Volumes During the Holiday Season and Beyond
Whether you’re new to the marketplace space or are already running an established property, there’s always going to be one challenge you’ll face regardless of expertise: encouraging users to communicate throughout the entire purchasing process.
Unlike retailers that require a single stream of communication—meaning buyers simply go to the seller and purchase a good/service—marketplaces are more complex because they require communication between both buyers and sellers. Often the conversation revolves around logistics such as where an item needs to be shipped or where exactly a rider is located, or the conversation is just about getting to know each other, as a way to establish trust.
In an ideal world, marketplaces would achieve peak liquidity with minimal effort from the platform operator. Given short attention spans and the volume of platforms users can conduct business on, messaging technology is playing an increasingly important role in facilitating transactions.
One such application is through effectively streamlining the onboarding process for buyers and sellers—an essential step considering how you only have one chance to make a positive first impression. For example, to improve the experience for buyers and sellers on your platform, messaging technology analyzes user preferences in order to deliver a customized onboarding experience.
To dig deeper into how you can optimize marketplace operations check out this article on Sharetribe which reveals the top 3 ways you can use messaging technology to optimize your marketplace operations.
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