Questions

What is the best marketing strategy for a 2 sided market business?

4answers

I have a business that operates in this space and it can be tricky because of the dynamics. That said, not knowing anything about the sector, size or scope of your business and the question it makes this hard to answer.

It's generally accepted that the greatest example of a 2 sided market is the credit card business ... and they're a useful example of how to create market efficiency and marketing prowess in the space. In this kind of thing I'm a big fan of R&D (ripoff and duplicate) what they're doing well ...

Watch for the cross-market effects. That is the larger your network side of the market the more attractive and differentiated you are from competition. Secondly, the pricing model likely has a more lucrative side and a more subsidized side. The greater alignment you can bring to those sides around purpose the greater the long term synergy. Finally, these models tend toward a dominant player ... watch out for that (unless you're that player).

Good luck.


Answered 7 years ago

Given that marketing / growing a two sided marketplace business is one of the more difficult things you can do in the realm of startups, there's no canned answer to that question. It can depend on the business. You need to seek help from experts, of which Clarity has a few of the top ones in this space.


Answered 7 years ago

That you need to figure out, but first you need to understand the 2-sided marketplace.
The purpose of a two-sided marketplace platform is to facilitate interaction between providers and customers. Charges a commission or another kind of each transaction. Multi-sided marketplaces make it significantly easier, faster, and cheaper for customers to find what they need. As an example, consider what getting a taxi was like before Uber entered the market. Depending on the market, the customer either needed to call a number or stand on the street and wait for an unoccupied taxi to drive by. Two-sided marketplaces make it significantly easier, faster, and cheaper for customers to find what they need.
You can read more here: https://www.sharetribe.com/how-to-build/two-sided-marketplace/
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath


Answered 4 months ago

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