How Does Thumbtack Work as a Business?
Thumbtack app basically matches the customers looking for the best service providers for accomplishing their tasks qualitatively to the service providers who are looking for the jobs.
Thumbtack clearly has got a dynamic business model, with two interlinked stakeholders that are both needed in order to operate the services like thumbtack
The Customers: The stakeholders who are looking for domestic, local, or professional services from qualified local professionals.
The Pro: The stakeholders who want to offer their services in exchange for some money.
Thumbtack introduces the customers with the service providers, or as the online service marketplace calls – pro, by asking the customers to answer a few specific questions about their exact requirements.
According to the scope of the work of the customer, Thumbtack shares those details with the skilled pros by keeping the contact details of the customers private in order to avoid the problem of contact masking and spamming of the customer’s inbox.
By posting the job description, within a few hours, interested and available pros will respond to the request by paying for sending the quotes and then the quote is communicated to the customers.
Considering the problem of contact masking when the service provider gets hired, the commission model cannot be integrated within the platform.
But Thumbtack has a solution to all. It devised a new revenue model, unlike its competitors. The service providers pay for sending the quotes on the platform. This is how the payment is already made and the contact sharing can be done at this point of the stage.
Thumbtack allows the customers to compare the professionals on the basis of the quote estimate, customer review, contact info, personalized message, and business profile.
Even after the comparison, when the customers are doubtful, they still have the option to hire the best professionals by calling or messaging them if they need more information about their service.
The platform also helps them to negotiate on the price by allowing them to schedule a chat and interact with them.
Once the negotiation is done, the customers can hire the pro.