{"id":6483,"date":"2021-07-08T10:49:51","date_gmt":"2021-07-08T08:49:51","guid":{"rendered":"https:\/\/www.cocolabs.com\/?p=6483"},"modified":"2021-07-08T10:49:51","modified_gmt":"2021-07-08T08:49:51","slug":"the-various-strategies-and-goals-behind-a-service-marketplace","status":"publish","type":"post","link":"https:\/\/cocolabs.rock4technologies.com\/en\/blog\/the-various-strategies-and-goals-behind-a-service-marketplace\/","title":{"rendered":"Service marketplace: The various strategies and goals"},"content":{"rendered":"<h2 style=\"text-align: center;\">Miniseries E-commerce features Part 4<\/h2>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Welcome to the chapter 4 of our series dedicated to service e-commerce. This episode is about the various strategies and goals behind a service marketplace.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a small reminder, our first episode was about <a href=\"https:\/\/www.cocolabs.com\/en\/blog\/services-marketplaces-are-the-next-revolution-in-e-commerce\/\">why services marketplaces are the next revolution of e-commerce<\/a>. In the second part of our mini series, we have shown <a href=\"https:\/\/www.cocolabs.com\/en\/blog\/e-commerce-features-current-e-commerce-tools-are-not-adapted-to-services\/\">why traditional e-commerce tools are not adapted to sell services<\/a>. Finally, we showed you some reasons why we think that <a href=\"https:\/\/www.cocolabs.com\/en\/blog\/why-platformization-through-marketplace-is-key\/\">platformization of services ecommerce is key<\/a>.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">In this episode, Hugues Odasso, Channel Manager at Cocolabs will explain the various strategies and goals behind a service marketplace. The marketplace model can be used in various business models, such as a B2C marketplace, a <a href=\"https:\/\/www.cocolabs.com\/en\/b2b-marketplace\/\">B2B marketplace<\/a> or a C2C marketplace which can be used for <a href=\"https:\/\/www.cocolabs.com\/en\/blog\/collaborative-economy-platforms-the-responsible-solution-for-selling-services\/\">collaborative economy<\/a>.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<p><iframe loading=\"lazy\" title=\"Miniseries E-commerce features #4 - The various strategies and goals behind a service marketplace\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/wCqFHqQdCmI?feature=oembed&enablejsapi=1&origin=http:\/\/192.168.2.122\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">First of all there are five main of the various strategies and goals behind a service marketplace.<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><b>1. Services e-procurement<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The first strategy is e-procurement of services. The marketplace model can be useful in this sector to improve the management of internal purchases. A platform improves the experience for users and external providers and gives them the possibility to have a best in class service.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">This strategy is mainly about improving operational efficiency of the company and has three main objectives.<\/span><\/p>\n<p>\u00a0<\/p>\n<ul>\n<li><b>Improving the activity management<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Indeed, thanks to eprocurement marketplaces purchasing departments have a 360\u00b0 overview of all the purchases made internally. It increases the number of data available and they are more accurate. It allows to reduce and automate the low value tasks of the procurement department<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<ul>\n<li aria-level=\"1\"><b>Easing the purchasing process for internal teams<\/b><\/li>\n<\/ul>\n<p><b><span style=\"font-weight: 400;\">Services e procurement platforms look like B2C ecommerce ones. So it makes it easier and faster to buy even internally, by adapting the B2B experience to the standards expected by users in their everyday life. The internal customer will be more willing to use an easy internal purchasing tool. Therefore it will prevent shadow purchasing.<\/span><\/b><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<ul>\n<li aria-level=\"1\"><b>Improving sourcing of services providers. <\/b><\/li>\n<\/ul>\n<p><b><span style=\"font-weight: 400;\">I<\/span><span style=\"font-weight: 400;\">ndeed thanks to the marketplace model the detection, the onboarding and the selection of new service providers is eased. The purchase department can manage them, as well as receiving a good overview of the providers who are sollitated and attractive. The marketplace model helps having a better global overview of the activity.<\/span><\/b><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">As mentioned before purchasing departments, as well as administration and public services and freelancing industries might be concerned by the strategy.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Read our page about <a href=\"https:\/\/www.cocolabs.com\/en\/revolutionize-your-e-procurement\/\">e-procurement marketplaces<\/a> to learn more about this strategy and how Cocolabs could accompany your company towards that goal.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<h2><b>2. Digitalization of an existing catalogue<\/b><\/h2>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">The second strategy is the digitization of an existing catalogue which is the case when a company already provides services but does not sell them online yet. This marketplace model strategy is a good way to better manage the activity, reach customers and \/ or access new markets.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">This strategy helps cover two main goals : the operational efficiency and the customer growth and loyalty. It covers three main levels:\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<ul>\n<li aria-level=\"1\"><b>Develop and better manage the activity through a new channel<\/b><\/li>\n<\/ul>\n<p><b><span style=\"font-weight: 400;\">Indeed thanks to the marketplace model a company can reach more customers by improving the offer\u2019s visibility as well as its presentation and therefore its understanding. It is also a good manner of generating qualified leads and sales with low effort. The third advantage is to automate low added value tasks.\u00a0<\/span><\/b><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<ul>\n<li aria-level=\"1\"><b>Scale the activity and extend an offer catalogue<\/b><\/li>\n<\/ul>\n<p><b><span style=\"font-weight: 400;\">As previously mentioned it is a good way to access new clients and create new cross-selling opportunities through new offers. The marketplace model gives the possibility to grow externally with the lowest cost and risk strategy.<\/span><\/b><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<ul>\n<li aria-level=\"1\"><b>Adapt to customers\u2019 needs and enrich knowledge<\/b><\/li>\n<\/ul>\n<p><b><span style=\"font-weight: 400;\">The marketplace operator can access direct and real-time data to strengthen customer segmentation and knowledge. It is also a good manner of piloting the activity in an agile way and of testing new approaches and offers directly with the customers.\u00a0\u00a0<\/span><\/b><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">The companies potentially concerned by the strategy are the personal service industries, the professional service industries, the installation & repair industries, the administration & public services as well as the software providers.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">The <a href=\"https:\/\/www.cocolabs.com\/en\/digitize-a-service-catalog\/\">digitization of an existing catalog<\/a> is an important topic at, visit our page on this topic.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h2><b>3. Developing a new business model around services<\/b><\/h2>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">The third strategy of launching a service marketplace is to develop a new service business model. The aim is to launch new services either around an existing offer (product or service) or around a sector of activity.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">This strategy covers three strategic goals: customer loyalty, external growth and disruption prevention. It has three objectives and benefits:\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<ul>\n<li aria-level=\"1\"><b>Increase customer loyalty and value<\/b><\/li>\n<\/ul>\n<p><b><span style=\"font-weight: 400;\">Developing services around an existing offer can help reduce pain points. It is also a good way to grasp unaddressed cross-selling opportunities. And finally the brand image and preference is improving thanks to the marketplace model.\u00a0<\/span><\/b><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<ul>\n<li aria-level=\"1\"><b>Explore new territories and reach new customers<\/b><\/li>\n<\/ul>\n<p><b><span style=\"font-weight: 400;\">A marketplace could be a good way to develop new services around the core activity. Thanks to it its operator could grow externally with the lowest cost and risk strategy. It would also be a tool to test new approaches and offers directly with the customers.<\/span><\/b><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<ul>\n<li aria-level=\"1\"><b>Shift the organization and extend the offer catalogue<\/b><\/li>\n<\/ul>\n<p><b><span style=\"font-weight: 400;\">Finally the marketplace model helps developing new business models and sources of revenue. It reinforces the organization\u2019s customer centricity by making decisions based on customers behavior. Its operator could be able to anticipate market shifts and disruptions.\u00a0<\/span><\/b><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">This strategy is especially relevant for retailers, bank and insurance companies, manufacturers for example for installation and repair services, personal and professional service industries.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<h2><b>4. Unification & federation of an existing network<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The fourth of the various and goals strategies behind a service marketplace is the unification and federation of an existing network. In this case a marketplace can help leverage connexions and build a network effect through a new online distribution channel.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">This strategy covers four strategic goals which are the following:\u00a0 the customer growth and loyalty, the external growth, the disruption prevention and finally the network effect. This strategy serves two objectives and benefits.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<ul>\n<li aria-level=\"1\"><b>Monetize an audience and build a network effect<\/b><\/li>\n<\/ul>\n<p><b><span style=\"font-weight: 400;\">Thanks to the marketplace model a company can identify gaps and synergies to build a win-win-win strategy as described in our article 3. A services marketplace helps increase brand fidelity for both clients and partners. It also helps improve positioning and to be at the centre of the ecosystem.\u00a0<\/span><\/b><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<ul>\n<li aria-level=\"1\"><b>Prevent disruption<\/b><\/li>\n<\/ul>\n<p><b><span style=\"font-weight: 400;\">A disruption can occur from a competitor or an external actor. A marketplace can consolidate market-share and customer loyalty by strengthening the value proposition. Finally the operator can identify and fulfill gaps in the value chain to protect and or increase its margin.<\/span><\/b><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">This strategy can be used in the following sectors: bank and insurance, professional service industries, lobbies and industry groups and finally administration and public services.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.cocolabs.com\/en\/federate-a-network\/\">Federating a network<\/a> requires knowledge of experts, don\u2019t hesitate to <a href=\"https:\/\/www.cocolabs.com\/en\/marketplace-quotation\/\">contact our team<\/a>.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<h2><b>5. Create disruption<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The fifth and last strategy that we identified is to create disruption. A company can create disruption through a marketplace by creating a new service or a new offer that it doesn\u2019t offer yet, nor its competitors. Thanks to those new offers a marketplace operator would be able to shift completely its market and bridge the gap between him and other companies.\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">There are\u00a0various strategies and goals behind <\/span><span style=\"font-weight: 400;\">services marketplace <\/span><span style=\"font-weight: 400;\">if you want to learn more about the service marketplace model, don\u2019t hesitate to <a href=\"https:\/\/www.cocolabs.com\/en\/marketplace-quotation\/\">request a demo<\/a>.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>Sources :\u00a0<a href=\"https:\/\/www.ecommerce-nation.fr\/top-ecommerce-france\/\">E-commerce Nation<\/a>\u00a0\u2013 Top 100 E-commerce and\u00a0<a href=\"https:\/\/www.insee.fr\/en\/accueil\">INSEE<\/a>\u00a0\u2013 Les TIC et le commerce \u00e9lectronique dans les entreprises en 2019\u00a0 \/ enqu\u00eate de 2013 \u00e0 2019<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Miniseries E-commerce features Part 4 \u00a0 Welcome to the chapter 4 of our series dedicated to service e-commerce. This episode is about the various strategies and goals behind a service marketplace. As a small reminder, our first episode was about why services marketplaces are the next revolution of e-commerce. In the second part of our&hellip; <a class=\"more-link\" href=\"https:\/\/cocolabs.rock4technologies.com\/en\/blog\/the-various-strategies-and-goals-behind-a-service-marketplace\/\">Continue reading <span class=\"screen-reader-text\">Service marketplace: The various strategies and goals<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[89],"tags":[],"class_list":["post-6483","post","type-post","status-publish","format-standard","hentry","category-digitalize-your-services","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Service Marketplace: the various strategies and goals<\/title>\n<meta name=\"description\" content=\"In the fourth episode of our mini series dedicated to services e-commerce, you will 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