Needs And Benefits Of Service Delivery Marketplace

We are global, interconnected society, and are very much familiar with online service marketplaces, and its need in our home and professional lives. From eBay to Apple’s app store, to e-commerce platforms such as Amazon and Alibaba, they all have now become essentials and effective catalysts for mutually beneficial exchanges online.

Need of service marketplace?

Service marketplaces do not sell goods or services themselves. They provide the platform to individuals and businesses to source the services they need from a wide variety of suppliers. For example you require a service, imagine trying to source that service, contact and bid with all the sellers that might give you that service on eBay by yourself, without the platform of eBay to organise and facilitate by bringing them all together on your screen. The task would be an Everest giving you a pain in the head.

Service marketplaces use cutting edge technologies and advanced IT capabilities to create a network of service providers and suppliers. Bringing together a wide range of vetted expert service providers, facilitating fair and open interaction with potential buyers.  It also manages the entire process to ensure ongoing standards for successful business. There are benefits for both the service buyer and their service providers.

Benefits To Service Buyer?

  • Services have been verified, pre-approved by the marketplace, ensuring a guaranteed quality of work.
  • Marketplace ensures the best value service is being sourced for your needs.
  • A wide variety of verified service providers can be accessed and filtered in one place.
  • Maximum choice means fair business, healthy competition, and good quality.
  • Monitor services / projects or ongoing services with convenience, efficiency, and clarity.
  • They help individuals and businesses to complete their task and improve their product and distribution cost effectively.
  • Reduction in money and time wasted on unsuitable service providers.

What are the benefits for service providers?

  • Save time wasted by filtering irrelevant projects.
  • Access to opportunities and projects that wouldn’t otherwise be available to them without marketing on large scale
  • No time and money investment on promotion.
  • Marketplaces provide a managed project approval process with clients, thereby reducing administrative work.
  • Follow clear set payment rules to the standard of the service marketplace, thereby giving safe, secured businesses to service providers.

The Much Needed Core Features To Start An On-Demand Service Marketplace

We all know that on-demand service marketplace is a great hit in this heavily competitive business world. One of the reasons of its success is that it incorporates with facilities that can actually meet the need of every user. By user we mean both the service professionals and service seekers. Service marketplace will sail smoothly only if the distinctive needs of the service professionals and service seekers are satisfied. In this blog we are going to see features needed to make your service marketplace have an appealing nature that grabs attention of maximum audiences.

What is Service marketplace?

Service marketplace is a business model that connects prominent service professionals to the service seekers to gratify the needs of local services like plumbing, web services, party planner, carpentry, home services and much more in a single platform.

Features required from service seekers perspective

Quick search

By quick search we mean searching the service professionals. The service marketplace website should have options for finding the service professionals either directly or giving request to find the suitable professional available for their service needs. This is one of the important features to look into while launching a service marketplace.

Easy Service request form

Service seekers have an option to fill a service request form to furnish their requirements, needs, service delivery time, payment mode and more. This form is displayed to various service professionals. They can confirm the request to the chosen service seeker based on the factors like service types, cost, time, and much more within a stipulated time. Service seekers get intimated about their service acceptance.

Social sharing

Service marketplaces connected with social media networks can help its users to share their experience about the service availed through chosen professional from the service marketplace. This creates brand awareness for the marketplace and the service professional. Additionally it infuses trust among the service seekers. So, add this valuable feature to your service marketplace site.

 Features required from service professional perspective

Form to list the services

The marketplace owner must take utmost care of giving convenience in listing the services in service marketplace website. A dynamic, clean, professional, verified and a user-friendly form is a must for service professionals to list their services effortlessly.

Social awareness

All the service professionals registered in the marketplace get social media support by promoting themselves and creating more awareness about their services in those local residents with ease.

Features required for both users

GPS

Service seekers as well as the service professionals accept to avail services nearby their own location. This convenience plays an important role in enhancing the success rate of the website.

Chat system

Chat support system helps the service seekers and professionals in clarifying and conversing with each other that brings up new business leads with ease.

Reviews and ratings

The reliable reviews, ratings and feedback help the future service seekers to avail the best and trusted local services. On the other hand, the service professional can take a look at the feedback of their services and enhance themselves to increase their opportunities.

Secure payment facility

Secure, easy and flexible payment options are one of the most needed features among the users to make their payments with ease and comfort.

Do You Know How Online Services Marketplace Work?

Maximum savings and minimum expense is the main focus for almost every modern organization and individuals in the current economic environment. Many organizations and individuals are turning to online services marketplace to optimize their indirect expenses. You get the talent you need to support your business ‘operations and household through an online services marketplace. It is like shopping at a grocery supermarket versus your local convenience store. By supermarket we mean much broader option to choose from, better pricing, support team to help you find the exact thing, handle ‘s  payment processing, and delivery options too. The local convenience means just the convenient shopping, where you need not go far but have to pay high for the same product or an inferior offering.

How Does An Online Services Marketplace Work?

A services marketplace is similar to online marketplace where you buy consumables, but in services marketplaces you buy services instead of physical products. Here you get to have access to the skills your business and household work requires, at a given time, for the pricing you need. Services Marketplace saves time and energy by helping you spend less time in sourcing skills and delivering the same and giving more time to innovate your business or spending leisure time at home. In this blog we are going to see the simple steps that incorporates services marketplace.

Sourcing

It’s a challenging task to find the talent you need, but with online services marketplace, you can access various skills from vetted service providers without investing much time. Services Marketplace enables businesses and individuals to source a wide variety of services across different categories – from Accounting to Property Services, Automobile Service to Health, Beauty & Fitness – which can be delivered locally. Services marketplaces can be found in various countries with their local service providers. No more Google. No more frantic phone calls. No more sticking with under performing providers. Now it’s easy to complete a simple online brief form to outline your requirements and buy a service from a pre-vetted provider.

Purchasing

The competitive bidding procedure in Services Marketplace helps you save for your organization and household. Once you have a talent requirement, you need to outline your requirements by submitting your brief form. It will be shared with the appropriate providers who will draft and submit quotations outlined with their skills, experience, and your specific deliverable.

Managing

For any effective project management, efficient communication and collaboration is required.  Service provider and service taker will gain access to an in-platform task management tool and online collaborative environment. All the task information, from initial to regular status updates, is completed through the cloud software and managed services platform. Few platforms also have Instant Messaging feature which allows service taker and service providers to communicate in real-time.

Delivery

Online service marketplace and its dedicated service providers ensure that the task stays on time, on budget and delivers in line with the terms agreed. These marketplaces have review system and social shares to help service takers get confidence with the platform. Exlcart Team with its unique Service Marketplace platform has the capability to manage various service providers and their projects and tasks from start to finish, achieving the best possible outcomes for your marketplace.

Service Marketplace – A Great Opportunity for Start-up’s

I am writing this blog today about service marketplace not because it is one of the hottest sectors where technology is peeping in fast. Simply because I was impressed the way this sector is trying hard to flourish with its quality and timely services. The fan in my room had been creating noises incessantly, and the local electrician that I knew did not turn up despite of repeated calls. I was irritated and looked upon a solution online. I happened to see various start-up’s in this service sector. I booked an electrician from one of the most rated website to fix my fan. My appointment was promptly acknowledged with an email, followed by a call. Thankfully, the electrician turned up on time, he was quick to analyse the problem, fixed the fan, and charged only what was mentioned on the website. No haggling, No bargain,No late appointments. It was a pleasant service experience, and I became a satisfied customer.

After this I thought of the infinite people who struggle on a daily basis to get such efficient home service experience – be it electronic repairing, plumbing, carpentry, laundry, home tutors, hobby classes, health wellness and other set of service market. And then I realized how and why Urbanization of this service sector happened in the other parts of the world and was the next big thing happening in India.The home services industry in India is growing rapidly with about 69 start-up’s founded in 2014 alone! This is a highly disorganized market, and thus holds an opportunity ranging from $100 Billion-$400 Billion.

Upon a little survey I found good players in this service market, which include HouseJoy, Zimmber, near.in, taskbob, Mr. Right, Findyahan, Urbanpro, Urbanclap, Doormint, Hometriangle, Qyk, and many others which provide home services like plumbing, painting, electrical service, laundry, pest control, in health and wellness for e.g. physiotherapists, yoga instructors, in tuition and hobby Classes for e.g. dance, music, zumba, maths, to events e.g. mehandi artists, photographers, and birthday party planners. The range of services provided varies from 6 to 1000 categories.

This service marketplace sector is witnessing an influx of funds from many individual investors and institutional investors alike.  The deal value disclosed by 15 of the start-up’s listed above has crossed more than $25 million, indicating that the sector is fast catching attention of many online marketplace players. Soon Service marketplace will see the same dynamic activity that e-commerce sector in India is currently seeing. Not far is the time when 1 or 2 service marketplace players will emerge as clear market leaders.

Source: Internet, Forbes.