In high-growth marketplaces sellers matter most
Analyst firm Forrester surveyed 2,030 marketplace platform sellers and found that platforms that offer services to help sellers sell more and ease the transaction process operate at a significant competitive advantage in attracting and retaining sellers.
Sellers seek streamlined selling experiences
Forrester’s research found that marketplace sellers increasingly demand a better experience. Sellers who encounter too much friction will either seek out competing platforms or quit selling altogether.
Marketplaces that prioritize seller services attract higher quality sellers
Retaining sellers requires agility, and working with a vendor that can help provide payment and customer support services becomes less of a “nice to have” and more of a “must have.” Research found that sellers care most about:
- Earning enough revenue justify time invested in selling
- Securing reliable and timely payouts
- Navigating the complexity of setting up a payment system
- Tracking income and taxes
- Expanding into new markets faster and cost effectively
“In the past, we were spending more time troubleshooting problems. We also had double charging problems when we did this by ourselves. With help from our vendor we eliminated all that. The administrative issues got easier, and now we’ve gone from two FTE engineers down to one-half.”
US-based SaaS company