Marketplaces are one of the most popular Internet business models. They provide a platform for sellers to aggregate their products and/or services and sell them to end consumers. They commonly provide lead generation and marketing services as well as back-office support for monetization and fulfilment.
Most marketplaces are relentless competitors that aim to dominate their chosen market. Amazon, for example, uses its marketplace to leverage its economies of scale and makes it difficult for competitors to enter the market by providing a broader range of products to consumers. Uber subsidizes drivers and maintains low prices to crush its competition and grow its lead in transportation services.
At Opencell, we often get involved in marketplace projects since they require the complex business models and financial flows that are at the core of our expertise. We generally provide an end-to-end monetization platform covering billing and payment flows for end customers as well at the automated calculation and settlement of partner transactions.
Based on our experience, here are a couple of things that you should take into consideration when choosing or building your marketplace technology:
A lot of these use cases are incredibly common in marketplace platforms but many businesses make significant investments in building proprietary platforms. At Opencell, we’re confident that we can provide you with an integrated lower-cost solution that will give you significant flexibility and competitive advantage.