More and more people are looking into starting their own on-demand marketplace. This demand is revolutionizing commercial behavior in cities around the world.
Due to the rapid growth of eCommerce, a large number of modern consumers and businesses have moved their interactions online. Early adopters of online interactions have learned how to leverage the engagement potential giving them a jumpstart in the modern on-demand marketplace.
Although, it isn’t just a highly engaging on-demand marketplace that interests your target consumer. We are also a society that craves instant gratification. When you take steps to meet your market’s desire for instant gratification, you capture their immediate attention and more effectively retain it long term.
Many ask if this is a short-term trend? Is the rapid growth we’re going to slow soon? The answer is no. The new on-demand models have opened the door to real-time fulfillment of goods and services, which consumers have fully embraced. Considering marketplace growth and areas yet untapped by this technology, business owners can leverage the marketplace model and build their own unique solutions.The demand for On-demand marketplaces is increasing as the consumer appetite for them grows.Click To Tweet
Below are some key benefits of running your own marketplace.
The Value of an On-Demand Platform
An online marketplace is a website or app that serves as a mediator between customers and companies. It can also include individuals offering products or services in the B2B and B2C sectors. Marketplace owners usually don’t offer any products or services themselves. Their task is to provide a platform where marketplace participants have the ability to interact.
Consumer behavior is changing. Immediate access to messaging, e-mail, media, and other online functionality through smartphones has generated the need for fast, simple, and efficient experiences. However, today’s on-demand market leaders have created successful business models that can satisfy the needs of consumers in a far more cost-effective, scalable, and efficient manner than their predecessors.
On-demand platforms, like Yondo, offer a solution that’s tailored to your enterprise’s needs for online expansion. With a focus on features that streamline on-demand video integration with your website, 1:1 consultation, and overall online presence, this on-demand platform offers many benefits for your enterprise.
Of course, we could talk all day about how a tremendous on-demand platform can elevate your business. Let’s start by sharing 8 of our favorite benefits.
BENEFIT 1: Reach a Wider Audience
When you consider launching your on-demand marketplace, you might think that a larger audience is more beneficial. It makes sense since it would include a more expansive reach into it. The opposite is actually true. A huge benefit of an online business is the advantage of reaching a wider audience; however, narrowing that audience to a specific niche is vital.
For your enterprise to be successful, you need to focus on a narrow target audience. It’s more effective to get your content in front of the best audience as opposed to getting it in front of everyone. An on-demand platform contains all the tools to enable you to present your audience with content that’s accessible to them from where they’re already connecting with you. You benefit from less guesswork, less stress, and more results.
BENEFIT 2: Boost in Online Performance
You know having a strong digital presence is important, but you might also be thinking that it will all fall in place on its own. With so many enterprises crowding the digital space, you can’t afford to leave it all up to chance.
The consumer is finding your enterprise through search engines, like Google. Google has a very sophisticated algorithm that’s used to rank your website in search results. Because video is the preferred form of content, an on-demand video provides a higher level of user experience satisfaction. In effect, working with an on-demand video platform can be a significant step in improving your search engine performance. This translates into improved reach and profitability for your enterprise.
BENEFIT 3: Encourage Instant Conversions and Sales
When a person is visiting your website or landing page, you have a few seconds to capture their attention. Once you have that attention, the goal is to keep them engaged and moving one step closer to the sale. Many platforms, such as Yondo, also include integrated Call-to-Action functionalities which allow you to instantly drive sales and improve conversion while you have your customers’ attention.
The ability to access content or services immediately is a huge convenience factor. This will play a key role in converting an interested visitor on your website into one that’s willing to invest in your enterprise.
BENEFIT 4: Connect Your Mobile Audience to your On-Demand Marketplace
It’s vital that your content is accessible from every type of device, at the exact moment that your audience is ready to view it. When you want to share high-quality content, you can’t assume that every person who watches it will be doing so from the larger screen of a desktop or laptop computer. With a Yondo platform, your clients can access your content and services from any device without having to download an app.
This is especially important, considering that the overwhelming majority of adults (over 90%) own smartphones. This new industry, and its ability to satisfy consumers’ increasing demand for simplicity, efficiency, and convenience is novel today. Tomorrow, it will be the expectation. Mobile technology, the remote controls we use to navigate our daily lives, are transaction engines that never leave our pockets. In the past, consumers have not had this simple of a way to transact. In addition, businesses are now equipped to satisfy this mounting demand.
BENEFIT 5: Instant Gratification
An important factor to revisit from our original values of an on-demand marketplace is instant gratification. It’s vital to be able to meet your audience’s need for instant gratification. You can trust that they’ll remember it in the future.
Whether it’s an on-demand product demonstration, a Live 1:1 session, or an online course, on-demand platforms help you place your content in the hands of your consumer. You can provide this content and services at the exact moment they want it. Enterprises that take advantage of an on-demand platform are more likely to see repeat visits and earn loyalty from their viewers.
BENEFIT 6: Motivate the Uninspired
As an enterprise, it can be frustrating putting your effort into nurturing a potential client that has expressed interest in your business to have them linger in a noncommittal limbo. It’s difficult to be certain what is holding them back. This makes it exceptionally difficult to figure out how to move them further along your sales funnel.
An on-demand marketplace and services can provide a solution. For a large segment of your unmotivated or uninspired consumers, they have the ability to instantly access content that captures their interest. They also have the ability to instantly make the payment. Your chances of obtaining them as a consumer are exponentially higher. We can tell by contrasting the incidence of on-demand consumers in each segment with the incidence in which these segments occur in the overall U.S. population. On-demand services tend to be innovative and are still in their early stages of adoption — and therefore have plenty of growth potential.
BENEFIT 7: Seamless Integration
An on-demand platform is an incredible option but can seem scary if you are not a technological guru. One of the most beautiful things about an on-demand platform is that integration is easy. In fact, it’s virtually seamless. With a Yondo platform, you can easily design a storefront for your business or integrate your online store with your own website design. No developer or development skills are required.
A high-quality platform will provide you with all the tools you need to make on-demand a reality for your enterprise. With an on-demand platform, the steps are easy, and help is available when you need it.
BENEFIT 8: Endless Options for your On-Demand Marketplace
Finally, an on-demand platform provides you and your audience with the options you need for a successful venture. The platform enables you to upload on-demand content when you’re ready. In addition, you can make it instantly available to your audience once you’re satisfied with the end result. When using an all-in-one platform, you’ll also be able to provide your audience with the benefit of payment and subscription options. But this is only the beginning. These options – and more – make on-demand platforms a win-win for all. The rapid growth of the on-demand economy shows that consumers are attracted by the user experience and added convenience.
Existing companies will need to embrace the on-demand economy and transform their service and delivery systems to meet consumer demand. If not, they may find themselves disrupted by those who do embrace this shift.
Start an On-Demand Marketplace Today
It’s one thing to read about the benefits of an on-demand video platform. However, it’s even better to see it in action. We want to introduce you to the many ways that Yondo can benefit your enterprise with our all-in-one on-demand platform. Seeing is believing, so contact Yondo today to request your free demo.
A high-quality platform will provide you with all the tools you need to make on-demand content and services a reality for your enterprise.