Marketplace apps are possibly the hottest startups right now. Uber, Airbnb and Groupon all have reached billion dollar valuations at an unprecedented rate. Not surprisingly, VC investments in seed stage marketplace apps is soaring.
However, more than any other app, the success of a marketplace depends on the fast execution, engaging design and scalable technology. You’ll likely have one chance to get right, before the copycats enter the market. Make the best out of it.
All marketplaces initially struggle with the chicken-and-egg problem. To get buyers, you need sellers, and to get sellers, you need buyers. One can’t make the it work without the other.
As most marketplaces get their revenue from transaction fees, acquiring users at a high cost can be a killer. Apps like Uber and Airbnb have designed referral engines to lower their CAC.
Fraud and spam detection are absolutely critical. Especially in the early days, you need to build a reputation, trust and deliver a flawless customer experience.
Given the time it takes to solve the chicken and egg problem, you’ll need to give yourself enough time to build your business. This means doing things efficiently so you can increase your runaway.
Most marketplace startups are easy to copy. The best answer to copycats is fast execution. And to execute fast, you need a reliable and highly scalable technology.
Many marketplace apps target highly regulated markets. There are two choices: either grow fast like Uber and let regulators adjust or design your product strategy knowing where you stand.
For a marketplace to disrupt an existing industry, it has to grow at a breakneck pace. With little margin for error, you’ll have to find users who are going to love your app soon and define a minimum viable product so you can test your assumptions early and rapidly.
The rest comes down to moving fast, and building a reliable product with viable sales and distribution model.
A great idea is only part of the story. What makes ideas successful is the perfect execution. From fully fleshed-out wireframes, customer personas to an elevator pitch, our product strategists will help you develop a product strategy that aligns perfectly with your business goals.
Instead of following some generic specs or business plans, we will help you identify the minimum feature set and, working hand-in-hand with real customers, we’ll progress towards finding a product market fit.
Our approach is designed to help minimize the risk of failure and develop a product that works in the market. Using our industry expertise and financial industry partners, we’ll help you take your idea from initial concept to a working app with users and a viable business model.
Building a disruptive cryptocurrency technology starts with the right focus. We’ll help you define a minimum feature set, establish feasibility and lock down the product positioning.
Every idea is built on some educated guesses. We’ll help you develop a minimum feature set, designed to collect enough data feedback from real customers, so you don’t have to rely on guessing.
Design is about how the app works. The ultimate consequence of a great design is high user adoption. We believe in clean, simple, user-centric design that aligns with your business goals.
We’ll provide you with a full team of expert strategist, developers and designers to build an app that’s according to highest design and technology standards.
We have developed a series of workshops to help you prepare your company for a VC investment and take the right steps towards landing your first investment deal.
Once the official version hits the market, we’ll help you collect user data to improve the product, and can provide access to our full stack marketing team.
Their audacious vision is to help transform the most innovative and challenging ideas into reality, by becoming the leading technical co-founder for entrepreneurs.
Appster is the fastest growing App Development company. With offices in three continents, from San Francisco to Melbourne, we’re building the most innovative app technology company in the world. If you want to have a chat, get in touch!
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Are you truly committed to your idea? Is your idea unique and original, or is it another "me too" app? Use this tool to determine if your idea has potential, and if you are prepared to do what it takes to make your app succeed!