They wish to avail all kinds of services from the comfort of their houses.
If you have doubts and wish to create your own marketplace app in UAE, you have landed on the right page. With such applications, end-users have plenty of options to choose from, that too while sitting at home. Moreover, there are discounts and super-saver deals being offered to them. Why wouldn’t anyone choose something so comfortable and pocket-friendly right?!
Let’s get to know them better…
What is an online marketplace?
A website or an application that connects a buyer and a seller, through a distributor is an online marketplace. These online marketplaces work like middlemen on a digital platform, by bringing together the sellers and buyers to successfully complete a transaction. Undeniably, the sellers and buyers both get variety – sellers, a variety of customers and customers, a variety of products from different sellers. A multidimensional, win-win? Definitely!
One of the reasons why such platforms are so much in demand is that people find them to be super convenient. They can be considered an improved version of departmental stores. Rather, they are better than departmental stores as the choices offered are… countless!
But there are a few issues too. Since a number of sellers offer products on such platforms, information regarding all these products is not always correct and available. Plus, different dealers deliver differently; some take more time, some less. Who exactly operates how is a bit difficult to tell and keep a track of. Despite these downsides, people still love shopping online through such marketplaces. It is a fun process that keeps the audience baffled and hooked simultaneously!
Let us get to know more…
Why should you build one and how you can benefit this way?
The service industry, irrespective of the country, is one lucrative domain! The shift to the service sector improved the economies of many countries across the globe. Let us look at some of the reasons, crucial enough for you to start considering building a service app for your venture. Let us dig in!
- It is easy!
Nowadays, various software providers allow businesses to easily and quickly launch various marketplace websites, in a simple manner. Such providers are slowly becoming a bigger trend! Businessmen are always on the lookout for them.
- Can prove to be more profitable than e-commerce platforms
Since your platform will offer services to customers, you will save money too. Allow me to tell you how. While providing services, you don’t need to worry about maintaining an inventory and/or shipping! Obviously, fewer costs would mean better and higher commissions for you and your team!
- You CAN manoeuvre the competition
With such an application to cater to users’ needs, you can outwit and outplay the competition. Several service sites are a big hit because they enable users to find and purchase services online in a way faster and cheaper manner. This level of convenience settles quite nicely with the customers. They are bound to look up to your brand for a wonderful experience, yet again. Talk about having an upper hand, right!
- Being a professional isn’t necessary
Do not for a second think that it requires you to be unprofessional in any manner. Professional in the sub-title signifies that you as a business owner don’t need to do the work while understanding the industry you have decided on.
As an owner of a service marketplace online, you need to pay attention to attracting buyers and sellers only, that’s it! Allow me to explain this with an example, you can start a website for people to avail chefs as cooking trainers – even if you know nothing about cooking!
Why are such apps needed?
What do you do, in case there are major problems or renovation going on at a place where you pay visits for service? Imagine how easy it can become if you can operate such a business without depending on a physical building. Allow your clients to book an appointment at home!
But what happens conventionally? We have to book appointments at uncomfortable time slots. They have to stick to the appointment time and then take out time to go to the place of service. When we do make it to the place and take the services. For the next time also, we are to follow the same and tedious routine. Sounds tiring, doesn’t it!
Now, widen your horizon and think about ways to overcome this problem. Can we manage the schedule according to your time and let the services happen in the comfort of your home? This can become a reality with service marketplace applications.
This helps prospective clients to make services come to them, rather than having them go to a place to avail of the service. These platforms are the one-stop solution for people looking for AC repairs, carpenters, fitness trainers, and beauty services.
These apps not only help in giving employment opportunities to the people but also let them showcase their talent and earn.
Methods to monetize through a marketplace application
Don’t get stressed about making money through an application. Why? As service apps offer monetization opportunities as well! There are two specific streams that can help you mint extra money. Without much ado, let us have a look at them:
- Sell with the help of ads!
This is one quite heard of. Almost every application, the website makes money by putting up advertisements. Focus on building a loyal and strong user base – they can work as your potential money-minting options. You always count on them and hence, cash through them!
Don’t worry if doesn’t just hit off in the beginning, give it some time and it will definitely work in your favour. Ads end up becoming a source of higher revenues eventually.
Advertisers believe that a user is more likely to click on an ad targeted to his or her specific interests. Some ad networks gather the information apps collect, including users’ location data. They may combine it with information about their Internet browsing habits or the kind of information end-users provide when they register for a service or buy something online.
Allow me to explain to you why and how ads play an important role in monetizing platforms. Usually, developers focus on providing their apps as inexpensively as possible. This way lots of people download them – everybody likes free tools! If they sell advertising space in the app, they can offer the app for a lower cost than if it didn’t have ads. Some developers sell space in their apps to ad networks that, in turn, sell the space to advertisers.
- Make use of sponsored profiles
Many profiles and bussing influencers wish to rank better and appear in feeds. The lookout to promote themselves through platforms like websites, applications. So, if you want to bring those extra bucks, say yes to these professionals who are trying their hand at becoming bigger and influential. They pay extra to get featured on the top.
So, next time if you wish to opt for a new method apart from ads, consider this one. You can make use of such profiles.
The cost estimation
Developing an application costs different each time. Yes… the apps which are similar too, don’t cost the same. The evaluation depends on
– the functionality of your marketplace app
– the features you want to include in it
– the UX and UI design
– its layout
– the platform you wish to develop for
– front-end & back-end development
– quality assurance
– project management, etc.
The cost can further go up if you decide to add new functions and/or complex solutions to your app. Therefore, it is strongly recommended that you keep some money aside for such (unforeseen) expenses.
It is erroneous and misleading to give an exact cost estimation for an app development process, as prices vary, but it is possible to give the budding entrepreneurs a ball figure. A custom marketplace application may range between 150,000 USD to 300,000 USD; the cost can increase depending on the choices with regards to the above-mentioned topics.
I hope a lot of your questions have gotten resolved and now you can confidently move ahead with your innovative ideas. Remember, it is important to research! You must gain useful knowledge about everything associated with your business. This plays an important role here as well. A thorough analysis of – the market, target audience, their preferences, your competitors, what is trending – is a must!
So don’t wait up and hire developers to build a service marketplace app Yes, it is possible to get such an application developed for your venture, so that you can earn handsome and reach the heights you always think about. The right guidance and help with regards to developing an application take any business a notch higher. So, you cannot falter there. Make sure to link in with the best company…