First impressions count. And with online marketplaces, first impressions REALLY count!
Make sure you’ve thought through what you want that first impression to be and how it can effectively communicate exactly what it is that you’re offering, it needs to be easy to understand at first glance to both vendors and customers alike.
This ‘dual’ communication can present a bit of a challenge initially.
What is a value proposition?
So what is a value proposition? Value proposition forms part of a businesses marketing strategy and summarises a company’s core values, such as what the brand offers, how it operates and what it stands for. Communicating the value proposition ultimately demonstrates why a person should use their platform, buy their product or services or engage with them.
How to communicate your value proposition
You need to work out how to explain your idea to other people such that it is both easy to understand, and an exciting proposition. To do this effectively you need to understand your audience and customer segment.
When a new product is launched, start with the onboarding of sellers. This should always be the priority as with no sellers you have nothing to market. Then, when the full marketplace is launched, we suggest targeting customers.
Let’s take a look at some of the ways you can successfully communicate your value proposition to your sellers and customers:
- Identify your USP and brand
- Determine your UX design and user journey
- Collate reviews/social proof
- Make sure you have clear CTA’s (Calls to Action)
Remember, you’re looking for vendors AND customers. But as most of your users are going to be customers, make their call to action the focal point of your site. You’ll want a catchy line that explains your brand proposition in its most simplistic form, or hooks people in by recognising what their need is. Narrow things down by getting users to input their geographical location if that’s appropriate.
Use images that potential customers can relate to. If not images that are taken purely for your purposes, look at stock imagery and match to your target audience as closely as you can. As soon as possible, add testimonials so that people can relate to their own experience, these can’t be over-estimated in the impact they can have on potential customers.
Following this, draw in vendors in a similar way, give them a reason to want to trade through you. You’ll probably want to direct vendors to a separate onboarding page so that you can be more specific.
Getting the tone and value proposition on your marketplace correct is crucial when creating that all-important first impression. Make sure you carry that tone (and visuals) on in all of your communication so everything is professional and cohesive.
Once you have your style in hand you’ll need to move on to the customer experience of your marketplace. This incorporates not just what it looks like but how it actually works for your users.