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13 major features of online marketplace

What are the major features of an online marketplace? There are many hidden steps in the process you might not even know about. But they’re viable for providing your product’s functionality and appropriate work. So before starting to develop an online marketplace you have to get acquainted with major features of the online marketplace that we listed for you.  

Of course, depending on your marketplace type, size and niche, all these things may vary. But the mechanisms they represent are quite common. While developing the marketplace you have to consider the following:

  • Authorization and Security (user must sign up for providing personal details such as name, gender, email, date of birth, phone number, password) – here in Syndicode we take it as a priority: all user data must be protected!
  • Registration for vendors. Vendors will have access to all functionality provided on your online marketplace, meaning they will be able to indicate the minimum or fixed price for their item, for example.
  • Another important thing is the ability for the user to sign up via social network which is much easier than classic way suggests.
  • Managing user profile and personal details update (this is more important for sellers than buyers because seller information should be clearly presented and easily managed by publishers). Note, that authorized users need to have the possibility to become publishers and add their content.
  • Managing Listing (Listing is products or services on a web marketplace). Sellers need to publish and manage their items. Here you can check Woobra – perfect example of marketplace for product sourcing where Syndicode implemented this functionality of listing managing. For site visitors we added the ability to search, use a filter and view detailed information; for site publishers – to add a new listing, view their listings, publish, edit or unpublish their listing, etc.
  • Booking/order process for clients (this functionality built to ensure reserving goods and services by users and collecting delivery information by publishers). Here developers need to add also the possibility for communication between viewers and publishers. Order management should allow multiple viewers and publishers to collaborate.
  • Payment option (Online Marketplace requires advanced payment functionality: payment system, ability to use credit cards, cash, PayPal, billing and invoice operations). In Syndicode we usually develop marketplaces with multiple payment methods to ensure that both user’ groups can use them in the most convenient way.
  • Don’t forget about Payout: publishers should retrieve their money from the system – this functionality demands additional code. Major payment providers have solutions for that, for example, Stripe Connect.
  • Reviews and ratings (this instrument aimed to help publishers and customers understand the situation on the market and build trust between each other). Both sides should be able to see listings reviews, customers will be able to write them and rate listings.
  • Notifications (they used for tracking the process of building relationships between viewer and publisher: with them, users can be informed about the arrival of their order and so on). Obviously, the user must be able to change notifications settings. The most widespread notification methods are SMS and emails.
  • Landing pages for clients and vendors. There should be a possibility to set and customize different layouts for landing pages depends whether they aimed to capture clients’ or vendors’ attention. Landing pages for clients must be easily customized by vendors according to their needs (top products list, location data or special offers, collecting emails and so on).
  • Browsing content (this feature lets the user find what he is looking for). As navigation getting more smooth the more attention is paid to the products. You can browse through Syndicode projects to evaluate our approach for navigation and design – we take user comfort among the first priorities.
  • Customer service (allows to keep in touch with the customer and grow his loyalty). In this part marketplaces usually use promotions, partners recruitment, collecting and visualizing data to understand tendencies, email campaigns for customer onboarding.

And these are just main points to think of. But with the help of professionals you won’t miss anything that matters – they will apply best practices to create your custom online marketplace.

To see the most complete project story with samples of these features we mentioned above being implemented take a look at HelloCare.

Please, feel free to ask us if you have any questions!

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