Companies Collaborate on Best Practices eBook: “Setting Yourself Up For Success When Building a Marketplace,” Available Now for Free Download
DENVER–(BUSINESS WIRE)–#Trade–Web Force 5, Adobe and Marketplacer, three leading companies with enterprise-grade expertise and proven success working together to help build digital commerce sites and marketplaces, have collaborated on an eBook showcasing the best practices and frequently asked questions as a guide for retailers and businesses looking to launch and manage their own marketplace.
It is reported that $3.23 trillion is spent globally across the top 100 markets, with the top 49 US markets recording sales of $919 billion (Digital Commerce 360). Interest in operating an independent marketplace is on the rise among established retailers looking to generate revenue and create sustainable business strategies.
Retailers are actively looking for ways to generate revenue and are faced with decisions about how best to build and optimize their technology stack. We’ve had so many conversations with merchants who want to develop a marketplace in-house, but custom building always has a much higher cost to build and maintain over time, as well as hiring and staff training,” says Lou Fabian of Web Force 5. “That’s one of the reasons we collaborated on this informative guide for retailers evaluating a go-to-market strategy and what to look for in a partner We know how to help them answer the questions they have.
Creating a go-to-market strategy allows retailers to expand catalog offerings and diversify into new brands and markets with less investment risk, while mitigating supply chain issues. Scale becomes easier to achieve when one scales beyond a drop-ship based business and builds a seller-driven strategy. Marketplaces also increase customer engagement and increase lifetime value and customer loyalty by connecting like-minded buyers and sellers in your community.
“With a good marketplace platform, you’ll get a host of features that will help you easily add and manage sellers and end-to-end transactions,” says Jim Stirewalt, president of Marketplacer US. “In a marketplace, sellers will manage their own inventory, shipping, and returns behind the scenes, creating a much more seamless shopping experience.”
The eBook, available for free download, includes:
- Overview of how a marketplace with third-party sellers supports business goals
- Identify the market strategy to use
- Personnel Considerations
- The dropship dilemma: when it’s time to move on
- What to look for in a technology partner
- What to Look for in Commerce and Marketplace Tools
- Advice on critical business considerations such as fraud protection and tax liability
“Online marketplaces represent a significant portion of the global e-commerce market. Since they can be a major asset to an e-commerce business and retailers, brand manufacturers and distributors have to decide whether they will sell into someone else’s market or exploit their own,” explains Ed Kennedy, Product Marketing Manager at Adobe. “In this eBook, we share insights from our work with thousands of brands on their digital market strategies, including listing their products on 3rd party marketplaces from Adobe Commerce, powered by Magento, or by launching their own marketplace storefront.
the Set yourself up for success when creating a market » eBook is available for free download at: https://marketplacer.com/resources/setting-yourself-up-for-success-when-launching-a-marketplace/
market maker is a global software-as-a-service (SaaS) technology platform equipped with all the tools and features needed to quickly create a successful and scalable online marketplace. To date, Marketplacer has helped over 95 companies create and deploy their own successful market strategies and has connected over 25,000 companies worldwide. The Marketplacer platform exists to simplify growth, from implementing marketplace strategies such as dropshipping sellers, adding new categories or extending third-party lines, to market consolidation and the deployment of modern revenue models such as recurring memberships that allow businesses to grow faster and beyond the constraints of capital inventory.
Born and raised from the award-winning BikeExchange, the largest online marketplace for anything and everything in cycling, founders Jason Wyatt and Sam Salter saw the opportunity to license the online software platform and apply it to new markets. Marketplacer is responsible for propelling business transformations for companies around the world. To visit www.marketplacer.com for more information.
About WebForce 5
The combined strength of digital experts from 5 continents. It’s Web Force 5. That means our teams around the world can work for you while you sleep. Your website doesn’t rest, neither do we. Our industry revels in ambiguity, allowing for poor technology, poor service and price gouging. We know. We’ve done a lot of relationship rescues. And when someone’s been badly burned, you have to be twice as good to gain their trust. We were tired of being ourselves in bad relationships. That’s why we left our companies to launch Web Force 5. We deserved better, and so did our customers. Life is too short. We treat our staff, our suppliers and our customers with the same respect. Right from the start, we took the ambiguity out of the equation. We spend time doing crazy details up front. It can be painful, but it pays off. It keeps our customers online, on time, on budget and always on good terms. Now that’s something you can enjoy. Contact Lou and Web Force 5 for a free consultation session at Webforce5.com.
Radix Collective for Marketplacer