There is an undeniable fact that the startup ecosystem is always favorable for young and ambitious business owners; however, sometimes, being too excited about something might lead to something wrong. Building a marketplace is not exceptional and even a small misstep can create a huge hurdle for the next process. One suggestion for this case is using Magento marketplace theme integrated multivendor to build a complete marketplace website. Why? Let’s see this article to understand actionable tips this solution can help you to operate a marketplace successfully:
1. Innovation is the key success factor
You cannot survive in the world where you have nothing special, nothing to diversify and compete so innovation means:
- Improve your business process
- Bring your products and services closer to customers.
What benefits you can gain:
- Level up your production unit.
- Improve brand recognition and favorable relationship with your customers
- Improve sense of autonomy so increase job satisfaction
2. Ensure our marketplace is mobile-friendly
“During last year’s busy holiday shopping season, a third of all online purchases came from smartphone users. Not even Black Friday (6.2 billion in online revenue in 2018) was immune to mobile fever, as nearly 40% of sales on the traditionally brick and mortar shopping day came via a mobile device. On Cyber Monday (7.9 billion in online revenue in 2018) 54% of visitors came from mobile devices, while around 30% purchases on their mobile device.”
Justin Smith, CEO from OuterBox
These figures are predicted to mushroom in 2019, that’s why the Magento marketplace theme comes with ultimate responsive design. If you do not plan for a mobile-friendly marketplace, you will be the loser on this race.
3. Be specific with product categories and create a killer navigation
Marketplace provides far more products from various sellers than e-commerce stores do. So it is so crucial to organize thousands of products across dozens of categories. Magento marketplace theme supports Magento mega menu feature that allows operators to create a mega menu in different styles so it is easier for consumers to find the relevant product. Pay more attention to build clear and smart navigation. Make sure your customers can understand where they are, never make them feel like standing in a maze unable to find their way.
4. Optimize your website to get higher rank in search engines results
Magento marketplace theme provides all features for SEO friendly, the only thing is you need to know how to use them to optimize ranking. Firstly, product images need to be optimized. Too large images might require more time to load and Google never appreciated a website with slow loading speed. Secondly, by optimizing web pages for niche keywords you not only help a web page rank better on the SERP but also ensure more relevant results when it comes to an on-site search. Having a product video embedded into the product page also makes a huge difference as it is more engaging and offers better information about the product and one more thing is Google loves video, the results related to the video are usually on top.
5. Multi-payment gateways and optimize the checkout process
Marketplace model serves a huge amount of customers and all of them will never use just one payment gateway. Magento marketplace theme supports a lot of payment methods and gateways with multi languages and multi-currencies. Moreover, this Magento theme provides one step checkout extension, it means that 6 checkout steps will be narrowed to just a single step, no more loading time and only necessary information is required. Buyers can add all products from different sellers into one cart and check out at once, the vendor name will be listed.
Launching a marketplace becomes easier than ever when you use the Magento theme integrated multivendor, a full solution with full features for operators to run a marketplace successfully. So, it’s time to review the metrics and make a plan for your business.