Steps You Should Take to Develop a Marketplace App

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marketplace app
Digital marketplace application. Remote business. E commerce, internet store, mobile market. Customer using smartphone cartoon character. Vector isolated concept metaphor illustration

The on-demand delivery sector has taken over this digital era with a storm. Not to mention it’s constantly growing and evolving, engaging more and more business sectors within. Multiple businesses are grabbing hold of on-demand delivery-oriented companies mainly for their excellent returns. All and all, marketplace application is one of the most extensive and lucrative sections of business in today’s world. 

Additionally, according to one of the stats, it has bagged $5 trillion US dollars – reported by eMarketer. Have you invested in on-demand demand delivery apps last year? If not, how unlucky… we all are. But those who did, are literally rolling into the profits.

However, you’re here now, and it’s all that matters. Hopefully, you’re motivated enough to build a successful marketplace app for yourself. Well, in that case, you’re in the right place. Cheers!

In this blog, we’ll walk you through the top 7 easy-breezy steps to build a marketplace app. Keep Reading!

7 Steps to Develop a Marketplace App

Perhaps, on-demand delivery apps are the utmost ranked from the digital economy models. However, one thing is for sure when you invest on such a platform, then success and thrive are most likely ensured since there still are many blind spots exclusively in this sector that you can cover with your marketplace app. That said, let’s show you how it’s done – building a marketplace app.

The Steps:

1 – Outline Marketplace Type 

First and foremost, before you begin your voyage to develop a marketplace app, it’s crucial to pin out its type. What type of marketplace app do you want to build? Not to mention as discussed earlier in the introductory chunk, it has significantly evolved and thrived into different wedges of business, stretching beyond. Thus, it would be a great way to sort your marketplace app type initially. 

Marketplace App Types:

B2B – Business to Business

The Business-to-Business marketplace app type primarily aims at catering services only to businesses. However, many companies grab hold of this type of marketplace app – B2B to broaden their customer horizons. Through this category of marketplace app, you can businesses several disconnected businesses to have an online presence for themselves.

B2B Samples:

  • Amazon
  • Walmart
  • Alibaba

 

B2C – Business to Consumers

This is a B2C type of marketplace that enables products and services sales from businesses to end-users. With this sort of marketplace app, you can onboard multiple businesses for the general public. The B2C model can be very lucrative when you have prominent companies under your shadow.

B2C Samples:

  • eBay
  • Nike
  • Netflix
  • Amazon
  • Walmart

Know that Amazon and Walmart are all-encompassing platforms; they work as b2b, b2c, and c2c. 

 

C2C – Consumers to Consumers

Lastly, the C2C model works around end-users to end-users. In other words, this type of app connects end-users services to other end-users. For that, you may have heard about OLX, where you can sell your commodities to other users.

C2C Samples:

  • OLX
  • Ubers
  • eBay

Once you choose the right type of marketplace app, it’s time you profoundly researched it. After that, you need to select your monetizing models. In general, entrepreneurs and business people create apps merely for one thing. That is, to have stable profits and income sources. If that’s your case, then you need to choose a well-situated monetizing model for your app.

From (Monetizing Models): 

  • In-app advertising
  • Subscription Model
  • Pain Model

2 – Aligning Key Features

Usually, the app’s features are the only ingredients that stir people’s minds into using it. Therefore, besides all the standard features of a marketplace app, you need to strategize a forefront feature for your app. In other words, it is a wowing feature, although other features too give away a great impression to people. Thus, brainstorm wisely on this one. Then again, the features you want to integrate into your marketplace app should be seller-oriented since they’re the ones to use your app for their businesses. But, more importantly, partner up with top-selling companies as they already have a magnitude of satisfied customers, which can significantly help top-rate your online marketplace niche as well.

However, before building your marketplace app, you need to point out your app’s seamless features for both sellers and buyers. 

Seller Features List:

  • Stock Management
  • Order Management
  • Transaction Control
  • Chat Feature
  • Analytics Tools
  • And more…

Buyers Features List:

  • Search
  • Cart
  • Review and Rating
  • Wishlist
  • Order Tracking
  • Return Policy
  • Search Filter
  • And more…

Besides, simply building those features would very unlikely fascinate your target audience since many apps already have those functional features. Ingenious integration of those features will never do the trick unless you integrate cutting-edge features. Meaning to have a standout marketplace app, you need to incorporate exceptional of those rudimentary features.

3 – UI/UX Counts

You must have seen new apps having similar features to other apps but innovative, sleek, and seamless User Interfaces. Many times, people use apps because of their attractive user interfaces and seamless user experience. The user interface defines how your app should look, and user experience states the app’s overall experience. Now that includes Speed, turnaround time, seamlessness, and more than that, getting things done is a shorter while.

In this step, you need to put a significant amount of effort into a unique-looking app interface. First, build the UI/UX of your marketplace app based on your audience, target, and feature set. We highly recommend building an MVP first, as they can help polish your final app. Then, design your app’s UI MVP and take feedback – that’s the best way to craft your app one-off. 

4 – Prefer the Fitting Technical Stack 

Technical stacks are the tools that help build and run your app. Meanwhile, plenty of technical tools are lingering out there, but not all of them are the best. Know that when you want the best app, it’s necessary to harness the best of building tools, although many times, developers to stakeholders are in a puddle when it comes to choosing the right technical building tools. You may wonder – what does it matter? Well, During the app development process, you may encounter several problems, and know this – the right tools can help you resolve that problem to a great range.  

Dozen tech solution is noticeable in the meantime, and choosing the right tool and help formulate an exceptional and standout app. That makes it a challenging process to endure, although developers often prefer their own skill-based technologies to build apps. Then again, you have to be watchful about it. The technical stack includes app development frameworks, libraries, and more. 

The Great Ones include:

  • React Native and Flutter for Mobile App Development
  • Next.js and nest.js for Web App Development
  • MongoDB and NodeJS for Database

5 – Develop an MVP

MVP development is an ideal approach when you want assured success. Creating an MVP is viable in many ways. First, MVP lets you know whether or not it’s a perfect fit for the market. Second, amid the MVP development, you’ll realize the product’s full-scale development and how much time and cost it will take.

Key Benefits of an MVP – Minimum Viable Product:

  • Helps Enhance the Final Product
  • Feedback Plot
  • Full-scale Development Idea
  • Market Fit
  • Easy Testing and Debugging

6 – Spread Your Influence

Wider influence means wider success. That’s what your goal should be – inclusive reach to the public. Thus, it’s proven – if you want to make a success out of your app, then the magnitude of audience reach is key. For that, you also need to create and multi-platform-based marketplace app. A cross-platform app. Plus, promote your app on social media grounds for higher reach since they’re the only platforms that encompass billions of people.

Plying a cross-platform app such as react-native or flutter can ensure a cross-platform app that can run for both Android and iOS users. That’s one way to reach a big audience as well. Indeed, you can create an MVP and take feedback from your potential users via social media platforms. 

7 – Maintenance and Support

Lastly, you need to safeguard maintenance and support from your app development company. When it’s released, there is also a haunting doubt that it may not be as perfect as you’ve imagined. But through that support, you can rebuild your app the way it should work, especially in the post-release scenarios. Know that the app development process doesn’t directly end as it also includes post-development steps which are even crucial to the app’s success. That’s why you should hire a post-development team or the contemporary software development team for your app’s maintenance and support.

You can quickly figure out the refused feature through rating and reviews and modify it via post-development support. This step can bridge the gap between you and your app users, building more credibility for the app. More, you can also ensure customer care support for the questioning users.

Post Development Steps:

  • Customer Care Support
  • Fixing Bugs
  • Adding New Features
  • Improving via Users’ Feedback
  • And more…

Summing it up

Above all, building a marketplace app at this time is challenging when you want a thriving app. But then again, you can easily ensure just that over meticulous research. Meanwhile, numerous prevailing competitions are noticeable. A standout and quality product would do the trick just right to transcend those players. But how do you achieve a standout app? Simple… by following our ways and steps shared in this blog.

 

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