Digital marketplaces are proven and highly efficient mechanisms for connecting buyers and sellers, outweighing the traditional one-to-one customer/provider relationship model. Digital marketplaces enable seamless interactions and transactions, making it easy for users to conduct business, and achieve economies of scale to supplement efficiency and growth.
However, a digital marketplace presence is not an instant guarantee to success. Risks such as privacy and data security concerns, platform reliability and a declining user base, can trigger a negative network effect, creating a perilous downward spiral for your platform. Therefore, it is crucial for digital marketplace owners to consider a comprehensive roadmap in navigating potential pitfalls and maximizing the return on investment (ROI) from their platforms. This whitepaper provides insights on opportunities, challenges and considerations associated with digital marketplace models and helps you strategize for success.
Download this free whitepaper for insights on:
- The evolution of the marketplace model
- Marketplace ROI
- Marketplace profitability
- Build digital ecosystems faster with Torry Harris MarketplaceTM