2019's Most Inquired Professional Services Marketplace Model

As a recent couple of decades were the years of e-commerce boom, for online marketplaces particularly the Service Marketplaces, this is a decade of exponential growth.

With the e-commerce already reviving the way we shopped for products, the online marketplaces now help us search a plethora of services much speedier.

Be it the medical services, freelancing services, travel or hospitality services to name a few.

In whichever specifics the services marketplace may be, it’s prime role is to connect the people with service providers.

Thumbtack, TaskRabbit, Handy.com and many more service marketplaces are becoming routine names for people.

It literally took a good ten years for the customers to warm up with the idea of services marketplaces.

With experiencing a lot many varied economic models, the services marketplace industry has undergone several phases of evolution.

On this note, it becomes vital for companies to have a killer business model to lead and survive in the competition marathon.

A number of businesses have recognized the essential aspects that contribute to design a lucrative business model.

This blog gives a firsthand look to these key elements of the professional services marketplace model that’s pretty perfect for a services marketplace.

Take a look!

Serving professional services marketplace model piece-by-piece

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Be ready to meet these challenges on your way

• Long purchasing journey:

After requesting a quote, it turns out to be a pretty long process for the buyers as well as for the service providers. The buyer has to confirm the quote and the service providers need to confirm their availability for providing expert services. Till both the parties do not get confirmation, the marketplace for expert services cannot proceed with a transaction.

• Difficult to track actual values on time:

It’s after the final delivery of expert services that makes the definite exchange of money on the app. This dwindles the service marketplace capability to track the actual values on time.

• Offline transactions:

On the other hand, the user who has to make a payment can drop out from the online platform and go ahead with the offline transactions.

Where there are problems, there are solution makers

• Direct connect feature and profile review options for the customers and freelancers

One way to curb the challenges when the professional services marketplace model actually comes into existence, is to take care at the time of designing a platform outlay, that both the parties get value additions in using the app and not a sole concentration on providing added value services to the clients only.

With providing a direct connect feature for the clients to contact the freelancers and on the other hand, giving all access of evaluating client transaction data to the freelancers will give full justice to both the parties to make them use the app more frequently.

• Community reviews and ratings

Another way to strongly repute a professional service marketplace model is the community reviews and ratings on the professional services. These ratings can be accessed by all the service seekers and app users. So the freelancers can easily justify the quality and price quoted by the ratings they achieve on the app.

Closing thoughts

Every marketplace has its own unique set of advantages as well as the challenges.

For developing a parallel app like Thumbtack, needs an expert consultation to make it a successful marketplace app for the local pros.

Reason being, the expert consultants can be the best buddies to guide on the cost-effective, profit-yielding and creative ways to grasp a differentiating factor and provide unmatched app development solutions similar to Thumbtack.

Put forward your app development requirements for a Service Marketplace.

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