Skip to Content
 

Marketplace Added Options

Build your marketplace exactly the way you want it, with all the features you need
Robust, Scalable, Unique

Marketplace Added Options

Many marketplace eCommerce capabilities include monetizing and putting value on interactions and potential interactions within the marketplace. That would include business add-ons such as giving businesses access to advertise or re-market to users in the marketplace. Possibly even the ability to target those based on the audience information that comes from business intelligence data. This could include not just advertising but also optimal placement within search results, optimal placement within email, and optimal placement within other campaigns. In this article, we are going to dive deep into some of the additional functionalities your marketplace can provide.

Providing a Number of Ways to Trade Numbers

Buyer & Seller Quoting and Bids

When you provide the aforementioned functions within a marketplace, vendors are able to bid quote requests from a buyer or a request for information in one of the forms within the marketplace. In many marketplaces there can be a quoting process or a request for quote type of interaction that the buyer can engage in. The marketplace can pull in multiple different vendors or sellers who would then be able to access that for bidding.

One of the most common of these is going to be the ability for a buyer to place a quote or a quote request within the marketplace. They might do a search for items and find that those items are not in stock or maybe there are different sellers who offer those items, but the quantity that the buyer is looking for would require a quote interaction in order to settle on a price for shipment and for the overall product price per unit.

Facilitating User-User Engagements

Buyer and Seller Interaction

In addition, it's also possible to offer a similar scenario for buyers who might want to purchase the right to interact with or engage different sellers through a verified and confirmed process that the marketplace can offer. So, long story short, it's possible for there to be add-on transactions within the marketplace that can both monetize and bring great value to your vendor – buyer capabilities.

So, the marketplace would allow the purchaser to be able to send out a quote request and then select a group of vendors, but also check the option to select a single vendor or a group of vendors who they want to invite and then potentially check a box to invite others to participate if they want, and then when they check that box to allow others to participate. This would allow the market to then provide that lead to qualified sellers based on how much the sellers are willing to pay or if the sellers are part of a premier membership or possibly based on governance where the best performing service and support sellers get more leads.

The interaction process that would happen there can be fairly detailed where there has to be some concept of in the marketplace a quote and also some concept of criteria for a buyer to search and be able to find different vendors who could fulfill that quote who could provide them with details around that quote that's accurate. Then once that has happened, a confirmation email goes to the buyer and a notification email to the vendor or vendors who can then interact with the buyer around that quote request. So, treating that quote request as essentially the topic of discussion. Making the quote itself modifiable as the buyer and seller interact, as well as allowing the buyer and seller to then put together a freight and shipping portion if that's applicable. Even customs and duties are possibly negotiated based on quantity or other factors as to what the actual price per unit's going to be, or the overall price for a particular quoted order.

Safe, Secure, & Verified Transactions

IP Protection and User Validation

Some stores have pretty specialized data and the sellers don't want to give that data out to the public freely, they want to verify the users before those folks get access. In a similar fashion, it would be possible to set everything up so that vendors can give specific access to their users based on which products the buyers have already purchased

So a lot of times the buyers who purchased large items that are very expensive, maybe a vehicle or maybe it's a device that's very expensive, will need access to replacement parts. They might need repairs and service done on them and so they would specify what those assets are and what replacement parts they need to get. These could all be shown dynamically based on the intent and needs of the buyer. You will see this sort of configuration with auto parts for a car. You go configure your vehicle and then the site changes the recommendations that are available in filters down to make them specific to your vehicle or vehicles.

Key Value Points and Quote Leveraging

Lowering the Barrier of Entry

Ultimately, the idea is that depending on the marketplace and the audience that you're working with, it's quite possible that one of the marketplaces key value point is that it has a lot of vendors who are really qualified to provide estimates on fulfillment. For large orders, they could require special intermodal forms of shipping and then being able to provide that shipping information as part of the quote interaction and doing that through the marketplace so that it doesn't require an email or some other form of manual communication in order to get those quotes.

You can really leverage the marketplace and steps throughout that quoting process too. Enable buyer and seller to interact with in the marketplace to get that quoted information. In addition to that, it’s possible then for the marketplace to convert that quote into an order easily and allow the purchaser to set up payment terms that are reasonable and realistic that are approved by the seller. Then being able to track those items that are sold through the marketplace. So, basically the ability to convert a quote into an order once it's completed, and then track that information as the typical order information should and would ideally go through. Customs and duties, shipment tracking, potentially status of the order, expected delivery, potentially dealing with any returns or refunds, etc.

Empowered Users by Users

Information and Resources Sharing

In addition, it's also really helpful to be able to offer sellers the ability to share their information and kind of prefer advertising around their particular offering to a particular set of buyers who are good buyers. This would be based on resources that would tell you that from the aggregation of performance data, which buyers are rating the particular sellers, which buyers are giving the best reviews, which buyers are purchasing the most goods and then allow the best vendors or sellers access to that group of buyers. There might be a qualification process or rigorous validation of the sellers before they can access that group of buyers and so by doing that the buyers know that the vendors are really well qualified and meet a certain criterion.

How Can Clarity Help

Clarity Marketplace Experts

So, ultimately the idea is that the marketplace has a lot to offer well beyond just the pure concept of buying and selling an offering with the market. It's really a community built around a core function of the purchase and selling of quality goods. Through the governance of that community of buyers and sellers, the associated information around those, and qualification of buyers and sellers can be a distinguishing quality in the value that the marketplace provides. Ultimately, giving the marketplace stickiness and enabling folks who apply to place trust in the marketplace. Why that's what's going to make the marketplace extremely valuable in the long run for both buyer and seller! We of course encourage you to reach out to the team at Clarity if you have any questions or would like to review your upcoming project. Below we have provided a list of resources all surrounding the many capabilities and functions of a marketplace for your use.

Back to top
Request a Quote
 
Please feel free to send any associated files to us at:
rfq@clarity-ventures.com
 
Privacy Statement | Terms of Use
Click anywhere outside this form to close.
Request a Demo
 
Please feel free to send any associated files to us at:
rfq@clarity-ventures.com
 
Privacy Statement | Terms of Use
Click anywhere outside this form to close.
Ask an Expert
 
Please feel free to send any associated files to us at:
rfq@clarity-ventures.com
 
Privacy Statement | Terms of Use
Click anywhere outside this form to close.
Newsletter
 
Please feel free to send any associated files to us at:
rfq@clarity-ventures.com
 
Privacy Statement | Terms of Use
Click anywhere outside this form to close.