5 Mistakes to Avoid while Building a Marketplace App

Difficulty: Intermediate

Estimated Completion Time: 12 minutes

The fixing idea of creating a top-of-the-line marketplace app was always on the mind of every illustrious business. Since we live in the era of technological discoveries, people heavily use the internet to find a solution to their problems or buy desirable products through mobile apps. People are increasingly obsessed with finding a sacred product in the app and making a purchase according to their budgets.

Users, who spend hours of their leisure time on the internet, admire only time-tested apps that will be productive, quick as a flash, responsive, and bear great importance to their inquiries. All businesses that have their fingers in selling various products and goods through the internet want to build a nonpareil app that will make a dashing effect on the customers. However, it’s a pretty difficult task to work on marketplace app development without know-how and expertise. When creating such specific apps, seasoned experts show their old hands in this niche, leaving no unexplored avenue.

In this article, we will take a look at such vocal points:

  • What a marketplace is, and why it’s so popular.
  • How to create a marketplace app.
  • What types of marketplace apps are available for the users.
  • What mistakes in building a marketplace app should be avoided in order to create a splendid solution.

On top of that, you will get acquainted with Weelorum, one of the most well-thought-of and innovative mobile app-developing partners around the globe. Our company is well-known for making tremendous marketplace apps at affordable prices, bearing in mind all your wishes and preferences. Once you reach out to Weelorum, the experts with years of experience under their belts will help you create your own marketplace app and make your acquaintance memorable from the get-go. We know how to create marketplace apps, solely relying on our vast experience and years of productive work in this field. Our technically savvy and responsive team with a keen eye for every single detail in building a marketplace app.

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What is a Marketplace Application?

First and foremost, let’s try to get to the basics and find out what a marketplace application is. It’s not rocket science to realize that worldwide businesses are not standing still and offer more and more services in our days. Hence, they need ace-high marketplace applications to engage with their clients and set the right tone.

Marketplace applications are online platforms that present various software solutions to perform specific tasks. For instance, 82% of US-based clients prefer shopping online using their mobile gadgets to going to the shop. Marketplace applications are usually united by a specific purpose or categorized in detail.

Types of Online Marketplace Applications

The marketplace segment is pretty diverse. There are 3 top-rated and accountable different marketplace apps. But the main purpose of the marketplace is to simplify the interaction between service/goods providers and their consumers, help them find each other, and increase the number of transactions. Let’s take a closer look at them below for your better awareness of this question.

B2C Online Marketplace Apps

Business to consumer refers to the sale of goods and services to individual customers for personal consumption. A food hypermarket, an online store, or a small legal advice office for the public, all of these features relate firmly to the B2C marketplace app. This sphere is characterized by numerous clients with a relatively low average bill.

B2B Online Marketplace Apps

Business-to-business marketplace apps are pretty sought after. These are commercial activities where other companies and entrepreneurs are clients. This includes the notorious services for businesses and outsourcing services.

The size of b2b companies can vary greatly. For example, consumers of the products of the large conveyor production of hair clippers and other similar equipment can be pretty small hairdressing salons. 

C2C Online Marketplace Apps

The abbreviation C2C is widely regarded as “consumer-to-consumer.” It relates to real-life online sales and trades, where both the seller and the buyer are individuals. Officially, the seller is usually not an entrepreneur.

A key feature of C2C is the ability to change roles quickly. For instance, you can sell your vehicle today to one customer, and tomorrow you buy a bicycle from yesterday’s buyer.

Have you ever desired to have a top-tier B2C, C2C, or B2B marketplace app that will put your business on the map and bring you more clients? It’s no longer a mammoth task. Weelorum has your back and all the tools necessary to create your desired marketplace app from scratch. So, contact the Weelorum experts and make your wish come true.

Phases of Marketplace Application Development

Lean Canvas

A special scheme, Lean Canvas, was invented to make the business modeling process for the marketplace easier. Lean Canvas is the starting point for thinking about a future project, from the idea to financial planning. With a convincing business model in hand, it is possible to look for the first partners or investors.

UX design

The term UX means the design aimed at facilitating the user’s interaction with an application. An analysis of behavioral factors will help understand the site’s weak points. In fact, UX design solves the cornerstone task of design in general, facilitating the use of the object. The difference is that the creation of the right context on the site increases its conversion rate, which means that it is not in the entrepreneur’s interest to avoid UX.

MVP

A promising startup adheres to a simple rule when a minimal viable product (MVP) is created in the shortest time possible. It is tested on an already identified audience segment. The main task of such a model is to perform the load-bearing function of the service. 

The ultimate goal is to test the idea at the lowest cost, gather feedback from the first users, and possibly make the first sales.

Promotion

Ways to promote a project can be divided into three categories:

  • PR (press releases, online magazine articles, and advertising from opinion leaders).
  • Branding (creation of a recognized corporate identity).
  • Advertising channels.
  • Contextual advertising and SEO promotion are the most relevant for the marketplace.

5 Key Mistakes When Developing a Marketplace Application

Unfortunately, you may face many pitfalls in marketplace app creation, which is a part of the business flow. Do not lose heart from the outset, as there might be loads of stumbling blocks on your thorny path that you need to overcome. Let us outline the most problematic mistakes, so they won’t catch you off guard if you encounter any of them.

Launching without an MVP

An MVP (minimal viable product) is usually the very first version of the application that your clients see. In our case, it is a test version of the mobile marketplace to evaluate its demand and functionality. An MVP dramatically reduces development costs and risks in general. If the product at the testing stage proves to be popular among users, it is refined, and the project is developed further. If the business owner doesn’t get the desired result, at least they spend less money than would in the case of full-blown application development.

Turning a blind eye to support and maintenance

The marketplace is a complex mobile product. You cannot just write the terms of reference, release the final application, and make a profit. After the release, there will be a devil of work on maintaining it, supporting it, and keeping your app relevant. You will have to study all the feedback from new users and make adjustments, remove unpopular functions and strengthen those that bring in more money. The app must evolve with the market and its target audience.

Announcing the marketplace app ahead of time 

When the product is almost ready, you want to tell about all the added features and even promise something not yet implemented. Be realistic in your estimation of the initial service. It is better to be humble in the beginning than make excuses to your users for the unfulfilled agreements. Patience is your strong suit in creating a top-notch marketplace mobile app.

The wrong tools and team

The cost of developing a marketplace depends greatly on the specific type of business. It is important to analyze and choose the right tools before you start. Don’t hire a team that agrees to do all your whims and desires without question. Most likely, they are interested in doing more tasks and getting more money, not interested in the success of your business. Professionals will definitely help and suggest the best solution, so listen to their opinion.

Inventing features during development

During the development process, customers start coming up with new features that are difficult to implement in the already-created architecture. It is good if there is time and money to do it, but sometimes the entrepreneur gets carried away with the process and can spend most of the budget on things that are not critical for the launch. Afterward, he may simply not have enough money for marketing and attracting customers, which is also an essential part of the business.

The marketplace app can be a one-of-a-kind solution that will assist you and provide a spark for your business, or a simplistic eCommerce site will be more than enough for a start. 

Tips to Avoid Mistakes When Creating a Marketplace App

If the business can’t find any value in it, no one will be interested in your app, and it doesn’t matter how well-versed and mesmerizing your solution is. The sure-card strategy in e-commerce marketplace app development is sticking to the obvious tips that will help your app find great demand.

The main reason why startups fail is that they don’t research the market to see if companies will find their software solution profitable. Beyond that, there are a few other actions that are necessary to create an e-commerce marketplace app:

  • Evaluate demand. Assessing demand requires evaluating the software to make sure that it actually solves the problem for which it was designed. Other questions relate to determining who will use the software, how they will use it, and what changes they will get in practice. A key question is whether your application really solves users’ problems. 
  • Gradually scale up. When your app already has a base of satisfied customers, the next step is to scale. When the target audience is clear, and the app reliably solves problems, it’s time to scale. It’s always better to grow incrementally. 
  • Segment the market. App users may work in different industries and use the app for different specific purposes. A successful app store promotes the benefits of the app for each use case.
  • Highlight use cases. Case studies and use cases help users visualize how the app can help them. Blogs engage users and help them get to know the app.
  • Listen to customer feedback. This is a great way to create innovation. Successful marketplace apps showcase the latest innovations right off the reel.

Luckily, if you have familiarized yourself with these time-proven tips, you can spare yourself from facing consequential pitfalls in marketplace app development.

Develop a Marketplace Application with Weelorum

Weelorum has been in the business for more than 10 years, and we helped many illustrious companies worldwide to create unique mobile marketplace apps according to their preferences.

At Weelorum, we had experience in creating fitness software for the Apple Watch, a CRM app, music apps, and so on. Our experts worked on various different cases, so you can be sure that you’ll get the best, top-notch product in time. Contact us and spare yourself from all the sensitive issues in marketplace app development you might face. Our expert team will consider all your wishes and create a marketplace app that won’t leave your customers indifferent.

Looking for a development team?

Weelorum has the best experts for your specific niche.

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Final Thoughts

Creating a picture-perfect marketplace app might seem a long and thorny path, with many challenges along the way. Yet, it’s critical to have an app at your disposal that will stand out among the myriads of other applications in your segment. Hopefully, there is a clear-cut way to create a marketplace app without hassle and to avoid pitfalls in building a marketplace app. All you need to do is make the right call and reach out to the right vendor that will do this job for you.

FAQ

How do I successfully launch an online marketplace?

In order to kickstart an online marketplace, you need to adhere to a sure-card strategy, know the ins and outs of this niche, and create a memorable and user-friendly marketplace app that will satisfy your customers’ needs. More often than not, business owners can only resolve this sensitive issue with a team of professionals such as Weelorum.

What is the biggest mistake when making an online store?

The biggest mistake in creating an online store and putting your marketplace app on the map is not paying attention to the demand and customer feedback.

How do I create a marketplace app from scratch?

In order to create a marketplace app from scratch, you need to have a perfect vision of your future project. Choose the best marketplace app model for your specific purpose (B2B, C2C, or B2C), and find the suitable vendor who creates the app for you.

Table of content
What is a Marketplace Application?Types of Online Marketplace ApplicationsPhases of Marketplace Application Development5 Key Mistakes When Developing a Marketplace ApplicationTips to Avoid Mistakes When Creating a Marketplace AppDevelop a Marketplace Application with WeelorumFinal ThoughtsFAQ
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