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    • Invest in Crypto
      • Best Crypto to Invest in
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      • Best Gaming Crypto Coins
      • Best Utility Tokens
      • Cryptos Under $1
      • How to Invest in Bitcoin
      • How to Invest in Crypto
      • How to Invest in DeFi
      • How to Invest in NFTs
      • How to Invest in Stocks
      • How to Spend Bitcoin
      • How to Spend Ethereum
      • Make Money with Crypto
      • Make Money with NFTs
      • Most Undervalued Cryptos
      • Next Crypto To Explode
      • Penny Cryptocurrencies
      • What is DeFi Crypto
    • Crypto News
      • Best Crypto Apps
      • Best Crypto Signals
      • Best Crypto Wallets
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      • Exodus Wallet Review
      • Best Play to Earn Games
      • Bitcoin Mining Sites
      • Crypto DAO Projects
      • Crypto Games
      • Crypto Marketing
      • Crypto Tax Software
      • Crypto Youtube Channels
      • Financial PR Agencies
      • ICO Marketing
      • Reddit Crypto Discussion
      • Web 3.0 & Crypto
      • What are 'Shitcoins'
    • Bitcoin Casinos
      • Bitcoin Gambling Sites
      • Bitcoin Roulette Sites
      • Bitcoin Slots Sites
      • Ethereum Casinos
    • Earn Interest on Crypto
      • Aqru Review
      • Best Staking Coins
      • Crypto Banks
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      • Earn Free Bitcoin
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      • Earn Interest on ApeCoin
      • Earn Interest on AXS
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      • Earn Interest on Cardano
      • Earn interest on Ethereum
      • Earn Interest on MATIC
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      • What is APY in Crypto?
      • Yield Farming Platforms
      • Yield Farming vs Staking
    • Worldwide Crypto Guides
      • Buy Bitcoin AU
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      • Crypto Exchanges AU
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      • Crypto Exchanges NZ
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  • Cryptocurrency
    • Buy Crypto
      • Buy Bitcoin
      • Buy BTC with Apple Pay
      • Buy BTC with Credit Card
      • Buy BTC with Bank Wire
      • Buy BTC with eToro
      • Buy BTC with Paypal
      • Buy BTC with Prepaid Card
      • Best Bitcoin ETFs
      • Low Cap Cryptos
    • Long Term Investments
      • ALICE Price Prediction
      • ApeCoin Price Prediction
      • BAR Fan Token Prediction
      • Bitcoin Price Prediction
      • Cardano Price Prediction
      • DeFi Coin Price Prediction
      • Dogecoin Price Prediction
      • Ethereum Price Prediction
      • Floki Inu Price Prediction
      • Lazio Fan Token Prediction
      • LBLOCK Price Prediction
      • LUNA Price Prediction
      • Pi Coin Price Prediction
      • Polygon Price Prediction
      • Reef Price Prediction
      • SafeMoon Price Prediction
      • Shiba Inu Price Prediction
      • Stepn GMT Price Prediction
      • SXP Coin Price Prediction
      • XRP Price Prediction
    • Best Altcoins
      • Buy Basic Attention Token
      • Buy Biconomy
      • Buy Bitcoin Cash
      • Buy Binance Coin
      • Buy Celo
      • Buy Cardano
      • Buy Chainlink
      • Buy Cronos
      • Buy Dash
      • Buy ENS
      • Buy Ethereum
      • Buy Ethereum Classic
      • Buy HBAR
      • Buy Litecoin
      • Buy Livepeer
      • Buy Loopring
      • Buy Lucky Block
      • Buy LUNA 2.0
      • Buy LUNC
      • Buy Neo
      • Buy Polkadot
      • Buy Polygon
      • Buy RadioCaca
      • Buy Solana
      • Buy Spark
      • Buy Theta
      • Buy VeChain
      • Buy XRP
      • Buy ZCash
    • Best Crypto Exchanges
      • Best Altcoin Exchange
      • Best DeFi Exchange
      • Best P2P Crypto Exchange
      • Best DeFi Apps
      • Best DeFi Interest Rates
      • Best DEX Coins
      • Binance Referral Bonus
      • Binance vs Coinbase
      • Binance Review
      • Best Binance Alternatives
      • Best Coinbase Alternatives
      • Bitstamp Review
      • Bitstamp Sign Up Bonus
      • Coinbase Review
      • Coinbase Sign Up Bonus
      • Crypto.com Review
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      • DeFi Swap Exchange
      • Social Trading Platforms
    • Best Meme Coins
      • Buy Baby Doge
      • Buy Dogecoin
      • Buy Floki Inu
      • Buy Shiba Inu
    • Best DeFi Coins
      • Buy 1inch
      • Buy Aave
      • Buy Algorand
      • Buy Ankr
      • Buy Avalanche
      • Buy Balancer
      • Buy Bancor
      • Buy Compound
      • Buy Cosmos
      • Buy Curve
      • Buy DeFi Coin
      • Buy DYDX
      • Buy Fantom
      • Buy Kyber Network
      • Buy Maker
      • Buy Ren
      • Buy Storj
      • Buy Sushiswap
      • Buy Tezos
      • Buy Uniswap
  • NFTs
    • How To Buy NFTs
      • Cheapest NFT Projects
      • Coolest NFT Projects
      • Best Metaverse Projects
      • Best Utility NFT Projects
      • Best NFT Apps
      • Best NFT Games
      • Best NFT Giveaways
      • Best NFT Lawyers
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      • Buy NFTs on Binance
      • How to Flip NFTs
    • Best Metaverse Coins
      • Buy ApeCoin
      • Buy Axie Infinity
      • Buy Decentraland
      • Buy DeFi Kingdoms
      • Buy Enjin
      • Buy Filecoin
      • Buy Gala
      • Buy GMT
      • Buy Immutable X
      • Buy The Sandbox
    • NFT News
      • Celebrity Backed NFTs
      • Celebrity NFT Owners
      • Most Expensive NFTs
      • New NFT Projects
      • NFT Calendar
      • NFT Horse Racing Projects
      • NFT Land Projects
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      • Sport NFT Drops
      • Why Invest in NFTs
    • Best NFTs To Buy
      • Azuki NFTs
      • CryptoPunks NFTs
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      • Crypto.com
      • DraftKings
      • Looksrare
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  • Stocks
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      • Best Biotech Stocks
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    • Company Stocks
      • Buy Alibaba Stock
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      • Buy Dividend Stocks
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      • Buy Stocks on eToro
      • Buy Stocks via Credit Card
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      • Invest in Stocks
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  • Trading
    • Best Trading Platforms
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      • Best Forex Brokers
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      • Best Forex Signals
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      • Copy Trading Platforms
      • Low Spread Forex Brokers
      • Low Margin Rate Brokers
      • Algorithmic Trading
      • Automated Trading
      • eToro Review
      • Capital.com Review
      • How to Day Trade Stocks
      • Day Trading Platforms UK
      • How to Trade Commodities
      • How to Trade Crypto
      • How to Trade ETFs
      • How to Trade Gold
      • How to Trade NFTs
      • How to Trade Oil
    • Trading Robots
      • Bitcode AI Review
      • BitIQ Review
      • Crypto Bank Review
      • Crypto Boom Review
      • Crypto Engine Review
      • Immediate Edge Review
      • Meta Profit Review
      • Metaverse Profit Review
      • NFT Profit Review
      • Oil Profit Review
      • Prime Advantage Review
      • Quantum Code Review
      • Teslacoin Review
      • Today Profit Review
      • 7Tesler Review
    • Bitcoin Robots
      • Bitcoin Blueprint Review
      • Bitcoin Buyer Review
      • Bitcoin Circuit Review
      • Bitcoin Code Review
      • Bitcoin Digital Review
      • Bitcoin Freedom Review
      • Bitcoin Motion Review
      • Bitcoin Prime Review
      • Bitcoin Profit Review
      • Bitcoin Revolution Review
      • Bitcoin Rocket Review
      • Bitcoin Smarter Review
      • Bitcoin Up Review
      • BitcoinX Review
      • Bitprime Gold
      • Bit Index AI
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    • Hosting
      • Best WordPress Hosting
      • Enterprise Hosting
      • UK WordPress Hosting
      • Wordpress VPS Hosting
      • Cheap Wordpress Hosting
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      • Best Legal Software UK
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    • Marketing
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      • PM Software
      • PM Software Small Teams
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      • Best Scheduling Software
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      • Task Management Tools
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      • Best Agile Tools
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    • Password Managers
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    • Affiliate Marketing
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Business 2 Community
  • Investing
      • Invest in Crypto
      • Best Crypto to Invest in
      • Best New Crypto Coins
      • Best Crypto Airdrops
      • Best Crypto Faucets
      • Best Crypto Giveaways
      • Best Crypto IDOs
      • Best Crypto ICOs
      • Best Crypto Lotteries
      • Best Crypto Presales
      • Best Gaming Crypto Coins
      • Best Utility Tokens
      • Cryptos Under $1
      • How to Invest in Bitcoin
      • How to Invest in Crypto
      • How to Invest in DeFi
      • How to Invest in NFTs
      • How to Invest in Stocks
      • How to Spend Bitcoin
      • How to Spend Ethereum
      • Make Money with Crypto
      • Make Money with NFTs
      • Most Undervalued Cryptos
      • Next Crypto To Explode
      • Penny Cryptocurrencies
      • What is DeFi Crypto
      • Crypto News
      • Best Crypto Apps
      • Best Crypto Signals
      • Best Crypto Wallets
      • Best Crypto Cold Wallets
      • Exodus Wallet Review
      • Best Play to Earn Games
      • Bitcoin Mining Sites
      • Crypto DAO Projects
      • Crypto Games
      • Crypto Marketing
      • Crypto Tax Software
      • Crypto Youtube Channels
      • Financial PR Agencies
      • ICO Marketing
      • Reddit Crypto Discussion
      • Web 3.0 & Crypto
      • What are 'Shitcoins'
      • Bitcoin Casinos
      • Bitcoin Gambling Sites
      • Bitcoin Roulette Sites
      • Bitcoin Slots Sites
      • Ethereum Casinos
      • Earn Interest on Crypto
      • Aqru Review
      • Best Staking Coins
      • Crypto Banks
      • Crypto Credit Cards
      • Crypto Interest Accounts
      • Crypto Lending Platforms
      • DeFi Lending Platforms
      • DeFi Staking Platforms
      • DeFi Yield Farming
      • Crypto Loan Sites
      • Crypto Savings Accounts
      • Crypto Staking
      • Earn Free Bitcoin
      • Earn Free Crypto
      • Earn Interest on ApeCoin
      • Earn Interest on AXS
      • Earn Interest on Bitcoin
      • Earn Interest on Cardano
      • Earn interest on Ethereum
      • Earn Interest on MATIC
      • Earn Interest on NEAR
      • Earn Interest on Stables
      • What is APY in Crypto?
      • Yield Farming Platforms
      • Yield Farming vs Staking
      • Worldwide Crypto Guides
      • Buy Bitcoin AU
      • Buy Bitcoin CA
      • Buy Bitcoin DE
      • Buy Bitcoin DK
      • Buy Bitcoin IE
      • Buy Bitcoin ID
      • Buy Bitcoin IN
      • Buy Bitcoin IT
      • Buy Bitcoin NZ
      • Buy Bitcoin PT
      • Buy Bitcoin SG
      • Buy Bitcoin UAE
      • Buy Bitcoin UK
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      • Crypto Exchanges AU
      • Crypto Exchanges CA
      • Crypto Exchanges DE
      • Crypto Exchanges IE
      • Crypto Exchanges IN
      • Crypto Exchanges IT
      • Crypto Exchanges NZ
      • Crypto Exchanges SG
      • Crypto Exchanges UAE
      • Crypto Exchanges UK
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  • Cryptocurrency
      • Buy Crypto
      • Buy Bitcoin
      • Buy BTC with Apple Pay
      • Buy BTC with Credit Card
      • Buy BTC with Bank Wire
      • Buy BTC with eToro
      • Buy BTC with Paypal
      • Buy BTC with Prepaid Card
      • Best Bitcoin ETFs
      • Low Cap Cryptos
      • Long Term Investments
      • ALICE Price Prediction
      • ApeCoin Price Prediction
      • BAR Fan Token Prediction
      • Bitcoin Price Prediction
      • Cardano Price Prediction
      • DeFi Coin Price Prediction
      • Dogecoin Price Prediction
      • Ethereum Price Prediction
      • Floki Inu Price Prediction
      • Lazio Fan Token Prediction
      • LBLOCK Price Prediction
      • LUNA Price Prediction
      • Pi Coin Price Prediction
      • Polygon Price Prediction
      • Reef Price Prediction
      • SafeMoon Price Prediction
      • Shiba Inu Price Prediction
      • Stepn GMT Price Prediction
      • SXP Coin Price Prediction
      • XRP Price Prediction
      • Best Altcoins
      • Buy Basic Attention Token
      • Buy Biconomy
      • Buy Bitcoin Cash
      • Buy Binance Coin
      • Buy Celo
      • Buy Cardano
      • Buy Chainlink
      • Buy Cronos
      • Buy Dash
      • Buy ENS
      • Buy Ethereum
      • Buy Ethereum Classic
      • Buy HBAR
      • Buy Litecoin
      • Buy Livepeer
      • Buy Loopring
      • Buy Lucky Block
      • Buy LUNA 2.0
      • Buy LUNC
      • Buy Neo
      • Buy Polkadot
      • Buy Polygon
      • Buy RadioCaca
      • Buy Solana
      • Buy Spark
      • Buy Theta
      • Buy VeChain
      • Buy XRP
      • Buy ZCash
      • Best Crypto Exchanges
      • Best Altcoin Exchange
      • Best DeFi Exchange
      • Best P2P Crypto Exchange
      • Best DeFi Apps
      • Best DeFi Interest Rates
      • Best DEX Coins
      • Binance Referral Bonus
      • Binance vs Coinbase
      • Binance Review
      • Best Binance Alternatives
      • Best Coinbase Alternatives
      • Bitstamp Review
      • Bitstamp Sign Up Bonus
      • Coinbase Review
      • Coinbase Sign Up Bonus
      • Crypto.com Review
      • Crypto.com Sign Up Bonus
      • Crypto.com Visa Card
      • DeFi Swap Exchange
      • Social Trading Platforms
      • Best Meme Coins
      • Buy Baby Doge
      • Buy Dogecoin
      • Buy Floki Inu
      • Buy Shiba Inu
      • Best DeFi Coins
      • Buy 1inch
      • Buy Aave
      • Buy Algorand
      • Buy Ankr
      • Buy Avalanche
      • Buy Balancer
      • Buy Bancor
      • Buy Compound
      • Buy Cosmos
      • Buy Curve
      • Buy DeFi Coin
      • Buy DYDX
      • Buy Fantom
      • Buy Kyber Network
      • Buy Maker
      • Buy Ren
      • Buy Storj
      • Buy Sushiswap
      • Buy Tezos
      • Buy Uniswap
  • NFTs
      • How To Buy NFTs
      • Cheapest NFT Projects
      • Coolest NFT Projects
      • Best Metaverse Projects
      • Best Utility NFT Projects
      • Best NFT Apps
      • Best NFT Games
      • Best NFT Giveaways
      • Best NFT Lawyers
      • Best NFT Lottery Sites
      • Best NFT Presales
      • Best NFT Wallets
      • Buy NFTs on Binance
      • How to Flip NFTs
      • Best Metaverse Coins
      • Buy ApeCoin
      • Buy Axie Infinity
      • Buy Decentraland
      • Buy DeFi Kingdoms
      • Buy Enjin
      • Buy Filecoin
      • Buy Gala
      • Buy GMT
      • Buy Immutable X
      • Buy The Sandbox
      • NFT News
      • Celebrity Backed NFTs
      • Celebrity NFT Owners
      • Most Expensive NFTs
      • New NFT Projects
      • NFT Calendar
      • NFT Horse Racing Projects
      • NFT Land Projects
      • NFT Trading Card Games
      • Sport NFT Drops
      • Why Invest in NFTs
      • Best NFTs To Buy
      • Azuki NFTs
      • CryptoPunks NFTs
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      • Binance
      • Crypto.com
      • DraftKings
      • Looksrare
      • Magic Eden
      • NFT Launchpad
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      • OpenSea
      • Rarible
  • Stocks
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      • Buy Disney Stock
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        • Algorithmic Trading
        • Automated Trading
        • eToro Review
        • Capital.com Review
        • How to Day Trade Stocks
        • Day Trading Platforms UK
        • How to Trade Commodities
        • How to Trade Crypto
        • How to Trade ETFs
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        • Bitcode AI Review
        • BitIQ Review
        • Crypto Bank Review
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        • Crypto Engine Review
        • Immediate Edge Review
        • Meta Profit Review
        • Metaverse Profit Review
        • NFT Profit Review
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        • Prime Advantage Review
        • Quantum Code Review
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        • Today Profit Review
        • 7Tesler Review
        • Bitcoin Robots
        • Bitcoin Blueprint Review
        • Bitcoin Buyer Review
        • Bitcoin Circuit Review
        • Bitcoin Code Review
        • Bitcoin Digital Review
        • Bitcoin Freedom Review
        • Bitcoin Motion Review
        • Bitcoin Prime Review
        • Bitcoin Profit Review
        • Bitcoin Revolution Review
        • Bitcoin Rocket Review
        • Bitcoin Smarter Review
        • Bitcoin Up Review
        • BitcoinX Review
        • Bitprime Gold
        • Bit Index AI
    • Software & Social
        • Hosting
        • Best WordPress Hosting
        • Enterprise Hosting
        • UK WordPress Hosting
        • Wordpress VPS Hosting
        • Cheap Wordpress Hosting
        • Website Hosting for Small Business
        • Agencies
        • Mobile App Development Agencies
        • Social Media Marketing Agencies
        • Influencer Marketing Agencies
        • Email Marketing Agencies
        • CRM Software
        • Best CRM Software
        • CRM For Small Business
        • Best Free CRM Software
        • Best Client Management Software
        • Other Software
        • Best Legal Software UK
        • Job Mgmt Software UK
        • Best HR Software UK
        • Best Payroll Software UK
        • Best Dental Software UK
        • Inventory Management Software
        • Accounting Software
        • Free Accounting Software
        • Accounting Software for Mac
        • Marketing
        • SEO Marketplaces
        • Email Marketing
        • Workflow
        • PM Software
        • PM Software Small Teams
        • Marketing PM Software
        • Free PM Software
        • Best Scheduling Software
        • Best Scheduling Apps
        • Task Management Tools
        • Best PM Apps
        • Best Agile Tools
        • Best Antivirus Software
        • Best Antivirus Software UK
        • Best Antivirus Software Canada
        • Best Antivirus Software India
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        • Password Managers
        • Best Pw Manager Australia
        • Best Pw Manager UK
        • Best Pw Manager Canada
        • Affiliate Marketing
        • Crypto Affiliate Programs
        • Best Financial Affiliate Programs
        • Affiliate Marketing Programs
        • Best Website Builders
        • Best App Builder
        • Best Ecommerce Platform
        • Best Landing Page Builder
        • How to create a Blog
        • VoIP
        • Best VoIP Services
        • Best Virtual Phone Number US:
        • Best Virtual Phone Number for Business
        • Best Virtual Landline UK
        • Best VoIP Home Phone Canada
        • SEO Software
        • Ahrefs Review
        • E-mail Marketing
        • Semrush Review
        • VPN
        • Best VPN Services
        • Best VPN UK
        • Best VPN for Android UK
        • Best VPN for Firestick UK
        • How to Watch Love Island UK From Abroad
        • Best VPN Canada
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    Digital & Social⟩Ecommerce

    7 Steps to Launch a Successful Online eCommerce Marketplace

    author imageAnkush Mahajan Last updated: 25 May 2020
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    The growth of ecommerce marketplace websites is on the next-level. According to a digital commerce analysis, the top online marketplaces Amazon, eBay, Alibaba, Etsy, etc.have accounted for 58% of global online sales in 2019. It clearly shows people prefer to buy from multi-vendor marketplaces due to different reasons such as competitive pricing, assured product quality, better customer experience, etc.

    mohamed_hassan / Pixabay

    Also, the above stats are inspiring many Entrepreneurs to start their online marketplace where they can invite local sellers or vendors to sell. If you are thinking to launch your multi-vendor marketplace, then here are some steps to launch a successful online ecommerce marketplace:

    1. Market Research & Competition Analysis:

    Analyzing the market and competition is the most crucial step. Gather information on your customer needs and analyze competitors’ market strategy. There is a famous quote by “Beth Comstock” American business executive:

    “Know thyself. Know the customer. Innovate.”

    It will help you make an informed decision regarding choosing the right business niche. Think about what problems your online marketplace is going to solve.

    1. Contact Different Sellers

    You may consider this step in the later stages, but that is not the right approach. Reach out to sellers who are selling on other online marketplaces and ask them about the pain points and the benefits they are getting on selling there. Take the help of offline or online surveys to understand sellers’ requirements.

    1. Documentation or Requirement Gathering:

    Once you are done with the research part, create a requirement gathering document to find out the answers to the questions below:

    • What are the features and functionalities you want in your multi-vendor marketplace?
    • How would you handle Shipping and Delivery management?
    • Do you need to integrate any third-party APIs? If yes, what are those?

    You can hire a technical team for requirement gathering to save your time & efforts.

    1. Pick the Right eCommerce Platform to Start:

    Choosing the right technology solution is very important. You need to choose an ecommerce platform that comes with in-built ecommerce features and can be easily customized. There are two types of ecommerce platforms, ie. Saas & License eCommerce platforms. Licensed or on-premises ecommerce platforms are considered the best solution to start multi-vendor marketplaces because they allow more flexibility and control. However, if your budget is limited, Saas (Software as a Service) ecommerce platforms are good to go.

    1. Finding Investors:

    You can skip this step if the budget is not a concern for you. However, I have seen that in many cases where the initial investment is high, clients are looking for investors. Or you can search for online crowdfunding sites that will help you arrange the money.

    1. On-board Sellers after the launch:

    Once your online marketplace is launched, the next crucial step is on-boarding the sellers. Here are a few strategies you can follow to on-board the sellers on your online store with ease:

    • Make a list of sellers who are selling on other online marketplaces
    • Create an email template and describes the benefits of selling on your platform and pain areas of sellers that your online marketplace is addressing
    • Reach out to them on their social media profiles
    • Start Display ads on sites like eBay, Etsy, or other sites where multiple sellers are selling the products
    • Also, you can use offline marketing techniques like Print Ads, Billboards, Telecalling, etc.
    1. Invest in Online Marketing:

    In this competitive world, you can’t expect sales just by setting up an online store. Digital marketing is one of the cost-effective marketing techniques to bring buyers to your online marketplace. In the early days, you can start with SEO (Search Engine Optimization) & Social media marketing. Google Ads are costly, invest in it wisely, and it is better to get help from an SEO or Adwords expert.

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      This article was written for Business 2 Community by Ankush Mahajan.
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    Author: Ankush Mahajan

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    More by this author:
    • 5 Ways to Nail eCommerce Marketing for your Online Store
    • 5 Trustworthy Product Review Websites for 2020
    • COVID-19: eCommerce Platforms Offering Help to Global Retailers in this Pandemic

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