Marketplace platforms are online platforms that connect buyers and sellers of goods or services, such as Airbnb, Uber, or Etsy. They are a popular and profitable business model, as they offer convenience, variety, and value to both sides of the market. However, building and growing a successful marketplace platform is not easy. One of the biggest challenges is acquiring customers, both on the supply and demand side. We will share some of the best acquisition strategies for marketplace platforms, based on our experience at Multiverse Software, a leading mobile application development agency specializing in rapid and cost-effective software solutions for clients across various industries.
Google Ads is a paid marketing strategy that allows you to appear at the top of the search results page, where users interact the most. It provides instant visibility to users searching for products or services related to your platform. It also allows you to target specific demographics, interests, and behaviours. This means your ads will reach users who are most likely to be interested in your platform.
For example, when searching for “Places to live in Quebec City” or “Where to live in Quebec City” Airbnb’s link pops up as the first search result because Airbnb has promoted their listing on Google Ads to be at the top. This way, Airbnb can capture the attention of potential travellers who are looking for accommodation in Quebec City.
Google Ads Screenshot for Airbnb
Google Ads can be a powerful way to drive traffic and conversions to your platform, but it also requires careful planning and optimization. You need to choose the right keywords, write compelling ad copy, set a realistic budget, and track your performance. You also need to ensure that your landing page is relevant and user-friendly so that users who click on your ad have a positive experience and take action.
At Multiverse Software, we can help you create and manage effective Google Ads campaigns for your marketplace platform. We have the expertise and experience in mobile app development, web backend development, and UI/UX design to ensure that your platform delivers on its promise and converts visitors into customers.
SEO stands for Search Engine Optimization and refers to the organic or unpaid marketing strategy of optimizing your website for search engines to acquire more customers. The goal of SEO is to choose relevant keywords that users might use when searching for a platform like yours and incorporate them into your website content, title tags, meta descriptions, URLs, and other elements. This helps your platform appear higher in search results, making it more discoverable and hence getting more users. SEO provides a sustainable and cost-effective way to attract organic traffic over time.
For example, with one of our previous projects - Canadian Nanny, we used AI text generations for listings (users had the ability to edit), this made sure to optimize for SEO and that the content is unique. This helped us appear higher in search results when users search for phrases like “Nannies near me ”.
Canadian Nanny Descriptions
SEO can be a complex and dynamic process that requires constant monitoring and updating. You need to conduct keyword research, analyze your competitors, create quality content, optimize your site speed and performance, build links, and measure your results. You also need to keep up with the latest algorithm changes and best practices from Google and other search engines.
At Multiverse Software, we can help you with all aspects of SEO for your marketplace platform. We have the knowledge and tools to help you rank higher on search engines and drive more organic traffic to your platform.
Email marketing is one of the oldest and most effective digital marketing strategies. It involves building a list of interested users and sending out newsletters or promotional emails to get them to visit your platform. This allows you to communicate directly with your audience, build trust and loyalty, and increase conversions.
You can use email marketing to highlight key features and benefits of your platform, share success stories or testimonials, offer discounts or incentives, or announce new updates or features. For this, you need to segment your audience based on their preferences and behaviours, craft engaging subject lines and email copy, design attractive layouts and visuals, test different versions of your emails, and track your performance. You also need to comply with the email marketing laws and regulations in your country or region.
For example, the following is a promotional email from Airbnb. Not only do they make it visually appealing, but with every section, they also have an accompanied CTA (call-to-action) button to encourage user to visit their site. Also note that at the end, they have mentioned some of their features like a wishlist and flexibility for dates & places.
Airbnb Promotional Email
Social media is another popular and powerful digital marketing strategy. It involves actively participating in relevant social media communities, groups, and forums, where you can share valuable insights and subtly promote your platform. It allows you to reach a large and diverse audience, increase your brand awareness and reputation, and generate word-of-mouth referrals. You can use social media to showcase your platform’s features and benefits, share user-generated content or reviews, answer questions or feedback, or run contests or giveaways.
For example, Uber has a strong presence on various social media platforms, such as Facebook, Twitter, Instagram, and YouTube. They use social media to share their latest news and updates, highlight their social impact and initiatives, feature their drivers and riders, and engage with their followers.
Social media can be a great way to connect with your potential and existing customers, but it also requires consistent and strategic effort. You need to choose the right platforms for your target audience, create a content calendar and schedule, post relevant and engaging content, interact with your followers and influencers, and monitor your performance. You also need to keep up with the latest trends and best practices on each platform.
Acquiring customers for your marketplace platform is not an easy task, but it is not impossible either. With the right strategies and tools, you can attract and retain more users to your platform and grow your business. In this article, we have shared some of the best acquisition strategies for marketplace platforms, such as Google Ads, SEO, email marketing, and social media. We hope you found this article helpful and informative.
We would love to hear from you and help you with your marketplace platform development or marketing needs. Please visit our website or email us at [email protected] to get in touch with us.