Build a service marketplace strategyService e-commerce and service marketplaces are a Greenfield opportunity
This wonderful opportunity may however lull companies to err in their strategy to seize a dominant position because they attempt to apply retail e-commerce strategies to build a service marketplace. This opportunity is new, and so are the roads to success. Second’s team of marketplace experts help your team understand the fundamentals of service marketplaces, identify the paths to success, and determine an operational roadmap to build, launch, and operate your platform.
Service e-commerce and service marketplaces are a
Service marketplaces are a new category of e-commerce that encompass differentiated strategies at every step towards success. Aligning stakeholders and members of the operational team is essential to advance cohesively through the operational stages of building, launching, and operating a service marketplace.
The “Service Marketplace MasterClass” aligns team members around a common understanding of the driving concepts of service e-commerce.
The “Service Marketplace MasterClass” is technology agnostic and suited to all stages of service marketplace development. This includes companies already operating a marketplace that wish to align all members of the team.
- Differentiating product and service commerce strategies
- Service marketplace ecosystems
- Service rendering models
- Service booking models
- Marketplace business models
- Core features required to build a service marketplace
- Introduction to successfully onboarding service providers
- Naming conventions
Digital services catalogue structuration
Retail relies on Product Information Managers (PIMs) to structure and manage product catalogues. This family of solutions is ill suited to manage service catalogues, namely because services, providers, and customers are inseparable – concept which doesn’t exist in PIMs.
Second helps large companies and startups around the word design strategies to shift their service offerings into a centralized catalogue both to improve internal management and metrics, but above all to then expose and distribute services online.
Digital services structuration often precedes the launch of a service marketplace and is therefore completely technology agnostic:
- Structure your existing service offering
- Map the relation between operations and service catalogue information
- Identify data-collection strategies and data-pools
- Establish impact on existing IT systems
- Define data migration plans
- Determine the operational roadmap towards a centralized and digitized service catalogue
Recruiting and onboarding vendors
Vendor acquisition strategies are radically different in service marketplaces as compared to retail marketplaces. Typically a service marketplace will carry more providers than a product marketplace (Uber has twice as many vendors than Amazon does) and service marketplaces often create much stronger and dominant positions by successfully convincing providers that theirs is the right marketplace to onboard to.
Second helps you plan and implement your vendor onboarding strategy on a global or local scale:
- Ideal Vendor Profile (IVP) identification
- Minimal vendor density determination
- Quality verification strategies
- Vendor Management System (VMS) implementation
- Vendor onboarding UX design
- Vendor sourcing partners identification
Preparing your go to market
This service is offered in conjunction with our consulting partners network
Go to market strategies are deeply coupled with the operational capacity to reliably deliver standardized quality of services on your marketplace. Our expertise helps bridge the initial gap between operational realities and market opportunity.
Working alongside global reaching partners, Second helps you conceive and implement an operational go to market plan:
- Target market definition in relation to vendor acquisition strategy
- Ideal Customer Profile identification
- Brand positioning and quality thresholds
- Service catalogue roll-out strategy
- Marketing & communications strategy
Managing organizational changes
This service is offered by our consulting partners network
Digitizing the sale of services often goes in pair with organizational changes. This new distribution model directly impacts operations but also deeply transforms business models, legal frameworks, and possibly service procurement and production chains.
Second’s partner network has extensive experience in helping companies successfully transform from a linear approach to a platform model.