Essential Features in Building a Two-Sided Marketplace
Customers’ Features
Signup
The signing-up process should be quick and easy. You may add several registration options: signup with email, phone number, Apple ID, etc. It’s up to you if you prefer to make signup to be binding. If this isn’t the case, you may offer goodies for completing registration. Examples: access to the newfangled features.
Search option
Searching is a core function of a two-sided marketplace. The search engine may auto-suggest the search inquiry to make the process easier and faster. The search filters can be tacked too to boost user experience.
Order forms
When creating order forms, organize the fields in a logical manner. Don’t go for excessive information, we recommend including full name, phone number, delivery address, and comments sections.
Payment
Make as broad a payment selection as possible that corresponds to the modern world’s requirements. Possible payment methods: by card on the website, by cash or card when goods are delivered, By money transfer, by PayPal, or by Payment systems accepted in your country.
Feedbacks
Rating and reviews are to win the clients’ trust and boost platform reliability. Feedback can accelerate the decision-making by convincing or turning down the buying.
Features for Vendors
Signup
The vendor’s registration process should be slightly extended in order to improve sellers’ trustworthiness. We recommend adding extra signup fields for legal entity information, licenses, and other documents required by law in your country.
Company Profile
The success of deals is trust. The trust may be achieved by providing describing the seller. The customer needs to know basic information about the seller: the company’s name, locale, value’s to be sold, and certificates to prove quilty of goods or services.
Vendor’s Control Desk
We believe the best marketplace to sell the values is the one that is easy to use. The convenience is achieved not by design only but also by the features set. Introduces the sellers’ control desk to be of service to regulate selling, delivery, promotion, and sales. Integrate the statistics charts to see what item is best-selling.
Analytics and Statistics
Analytics and Statistics may be integrated into the control desk or be a separate marketplace section. The purpose is to beef up sellings. When developing a 2-sided marketplace keep in focus that you’re creating an assistant for vendors that will pitch in tracing sellers’ progress, analyzing their listings and deals enactment, concluding reports, and summing revenue.
Key Features for Admins
Creating a two-sided marketplace that will fly high calls for a trouble-free admin console to manage two-sided marketplace business flow:
- Preside over sellers (adding, blocking sellers, orders, values sold)
- Set and regulate fees (managing fees administration that can go in the form of a fixed percentage or as individually agreed)
- Govern platform access (providing admin access to your employees)
These aren’t the must-to-follow features list. The list may be modified or extended pivoting on a two-sided marketplace business model, your wishes, needs, or requirements.
