Great question. It can be hard to run a marketplace for expensive items as I feel like people have a threshold for the amount of money they’re comfortable risking online through payments. Most people started with buying books online then built up their tolerance to risk through more successful transactions. Credit card refunds and Paypal buyer protection helped but people still have a number of internal checkboxes that they need to check before parting with large sums of money online.
These include:
Cues and social proof from your marketplace website
Whether they read about the marketplace from a reputable news source or were referred from a trusted friend
Whether there are online reviews
These are some of the basic issues around trust and this ties into what people look for when they’re confronted with buying something expensive online.
To help alleviate these natural fears in people when buying expensive services, you could look to build a marketplace that uses Escrow as a means of payment. This could either be through a dedicated escrow provider like Escrow or could be a built-in feature of your marketplace. You could also look to link up provider’s social profiles as additional social proof but, depending on your % commission or fee, you may find some people looking to bypass your marketplace and deal directly with the provider.
These two features will go a long way to providing more surety when someone is buying through your marketplace.
July was a great month across our core businesses and side projects. Let’s dive into what we’ve been doing… 📚 ContentsGenerous WorkSystem & ProcessSoftware RecommendationsSide ProjectsLessons I’ve LearntNext Month Generous Work Built several websites for clients on WordPress, Squarespace, Carrd and Weebly (dependant on their business needs and desire to update themselves) Built NPS-style surveys …
How easy is it to double the number of online reviews your business has? Not as hard as you’d think when you fix the leaky bucket that is the current process for most businesses. For one of our clients, they’d been using a NPS survey to monitor their key staff and how well they were …
I’ve had a ball working with a popular winery and seeing them using and implementing great systems in their business. A few takeaways regarding their systems: Booking calendar – whether this is online (for people to book themselves) or hidden (so you can enter the dates and keep track of availability), having a calendar online makes …
Further question details We are a growing accounting firm that is focused on providing our clients with the best bookkeeping and tax experience possible, we are paperless, tech-savvy and we think outside the box. We operate with a start-up mentality where we constantly adapt to our clients and move very quickly. We’d love to automate …
How can my marketplace build trust when selling expensive services?
Great question. It can be hard to run a marketplace for expensive items as I feel like people have a threshold for the amount of money they’re comfortable risking online through payments. Most people started with buying books online then built up their tolerance to risk through more successful transactions. Credit card refunds and Paypal buyer protection helped but people still have a number of internal checkboxes that they need to check before parting with large sums of money online.
These include:
These are some of the basic issues around trust and this ties into what people look for when they’re confronted with buying something expensive online.
To help alleviate these natural fears in people when buying expensive services, you could look to build a marketplace that uses Escrow as a means of payment. This could either be through a dedicated escrow provider like Escrow or could be a built-in feature of your marketplace. You could also look to link up provider’s social profiles as additional social proof but, depending on your % commission or fee, you may find some people looking to bypass your marketplace and deal directly with the provider.
These two features will go a long way to providing more surety when someone is buying through your marketplace.
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July was a great month across our core businesses and side projects. Let’s dive into what we’ve been doing… 📚 ContentsGenerous WorkSystem & ProcessSoftware RecommendationsSide ProjectsLessons I’ve LearntNext Month Generous Work Built several websites for clients on WordPress, Squarespace, Carrd and Weebly (dependant on their business needs and desire to update themselves) Built NPS-style surveys …
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