December 3, 2018
Four Ways to Boost Marketplace Transaction Volumes During the Holiday Season and Beyond
Whether your marketplace has been around for awhile, or you’re just getting started, one of the biggest threats to your platform is leakage. This occurs when buyers and sellers choose to transact outside of the digital marketplace platform, often because the marketplace operator isn’t delivering enough value to justify their fees.
Preventing leakage can be done in a variety of ways, two of which are covered by Kahuna’s 3 laws of marketplaces, that include building for trust, and delivering autonomous value. Doing so requires some effort, but it’s an extremely effective way to improve buyer/seller retention and keep leakage at reasonable levels.
There’s no one-size-fits-all approach to preventing leakage within your platform. Reducing leakage requires marketplace operators to take a new approach to their operations. For example, using reputation systems as support channels to enhance the transactional experience.
Looking for more insights on how to retain buyers and sellers? Check out the video below!
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