Use these tools to find an interesting site name:
- Domain Name Generator.
- Lean Domain Search.
- Domain Hole.
When you have several applicants for the title of "Best Domain Name of All Time", do not rely on super-creativity. Often this harms the business, as strange names scare away users and do not give an idea of what kind of site it is, what it does, and why you go to it. The bet should be placed on the sharpness, brevity and ease of perception. At the same time, do not use numbers, they are the most difficult to remember, and also do not use hyphens and non-standard domain zones.
You can register the selected domain name on the websites GoDaddy, Domain.com, Dreamhost, Name.com, Bluehost, Namecheap. They have the largest user bases and available domain names. Prices are approximately the same everywhere - from 10 to 300 dollars per year, depending on the domain zone.
Step 3: Concept, Functions and Design
Website concept. A document that spells out all the key parameters of the site that being developed: goals and objectives, nature of activity, market and competitor analysis, design concept, positioning and marketing policy, semantic core and more. The emphasis in the concept is on general points, since the document should become a support for further development. The project overgrows with details as development progresses.
Basic and additional functions
Deeper integration with social networks.Additional functions for buyers:
- Pop-up notifications, reminders.
- Product comparison and recommendations.
- Gift certificates.
- Wish List.
- Additional functions for sellers:
- Advanced listing, inventory and finance management.
- Tools for analyzing customer behavior.
- Tools for creating a store page.
- Marketing tools.
Website Monetization. If you are not a state or a public organization, then you are creating a multi-vendor site for profit. There are several ways to do this:
UX/UI site design
- The system charges a fixed commission or percentage for each successful trading transaction conducted through your website.
- Buyers and sellers make monthly / annual payments for using the site. On some sites, only one of the parties pays.
- Listing fee. The seller pays for the placement of goods. The size of the fee, as a rule, depends on the category of goods (clothing, electronics, drinks, etc.).
- Basic functions on the market are free, and premium ones are paid.
- This can be an advertisement of third-party services (other sites) or an advertisement of internal goods (the first position in the listing, a catchier ad, an offer in recommendations, etc).
. The design of the marketplace
is the first thing a user pays attention to when entering your site, therefore it should be attractive and memorable, and if you have chosen a highly specialized niche, then this niche should be relevant. To develop such a design, it is best to hire specialists who know exactly what such a portal should look like. This approach will save you time and save you from many mistakes.
Step 4: Website Promotion Methods
Unlike traditional online stores, where there is only one seller, multi-vendor platforms are focused on two types of users: sellers and buyers. This means that you need to solve the chicken and egg dilemma - how to attract buyers without sellers or how to attract sellers without buyers.
Search for sellers. Experts advise starting with suppliers, because it is an investment for them, and it is a waste of time for them. There are several ways to search for sellers:
- Contact sellers in other markets. This strategy was used by Airbnb. They searched for short term rental listings on Craigslist and suggested that they advertise on their site.
- Use Google, aggregator sites, and business directories. Start with the Yellow Pages and Yelp if you are targeting the North American market, or just look for suppliers on Google. This approach was used at Etsy.
- Find sellers on social networks. If you have chosen a highly specialized niche, it will be easy for you to find sellers in the corresponding groups of social networks Facebook, LinkedIn, Instagram. You can also find seller accounts on Twitter and YouTube.
Having found sellers, give them a lot of attention and time to explain the advantages of your site, help with filling out profiles and ads. Also do not forget to offer discounts, promotions and bonuses for the right to be among the first sellers on your multivendor trading platform.
Search for buyers. Here you can use traditional approaches with contextual advertising on Google, social networks and relevant websites. Just do not forget about promotions, discounts and bonuses. There should be a lot of them at the start.
Step 5: Three Development Approaches
Development from scratch. It requires a lot of time, money and effort, but allows you to realize unique ideas. In addition, development from scratch gives you complete control over copyright, which is important if you decide to implement white label solutions created on the basis of your site.
Ready platforms. Creating a multi-vendor market using open source software such as Cocorico, Mayocat or Sharetribe. The result will not be as unique as when developing from scratch, but the cost of time and money will be significantly reduced.