The renowned scalability and great revenue potential of the online marketplace model have been displayed in remarkable fashion by multi-billion dollar companies such as Uber, Airbnb, and Amazon.
Developing an online marketplace used to present considerable challenges on account of the technological needs of a complicated multi-vendor system, in contrast to the easier single-vendor format of traditional e-commerce. The growth of content management systems such as WordPress, with its range of themes and plugins, along with other online web builders, have rendered it much simpler to get an online marketplace running.
Since WordPress began as a blogging tool, there is a popular misunderstanding that is only ideal for personal websites and blogging. This could not be removed from the truth; presently, WordPress powers more than 30% of the 1 million biggest sites on the web.
WordPress has also enlarged its presentations to contain e-commerce extensions such as WooCommerce, a potent plugin that changes 22% of the globe’s WordPress websites into revenue-producing e-commerce platforms.
But how to take care of the complexities of a multi-vendor marketplace?
WordPress possesses an answer for that also. After you have installed WooCommerce, companion plugins and extensions like Product Vendors, Dokan, WC Marketplace, and WC Vendors permit you to configure and administer the entire elements needed for a wholly operational marketplace. Collectively, these plugins presently uphold almost 20,000 multi-vendor e-commerce platforms.
The following are great reasons to build your marketplace with WordPress:
# 1 Comparatively Low Cost
WordPress is open source and therefore entirely free, and so are its numerous themes and plugins. Based on the charge of your domain, extensions, and theme, you could set up your site for under £100. Essential – read the fine print to assure that a plugin or theme purchase is a one-time payment, and not a monthly membership, as these could add up.
# 2 Lessen Time To Launch
Based on your technical expertise, you should be able to create a marketplace with WordPress within some days. Most WordPress themes are maximized for mobile gadgets, which implies that you won’t need to spend additional time and money to fine-tune your site arrangement for mobile users.
# 3 Reduce Risk
Product-market fit is critical to your marketplace’s success. A fast, low-cost initial version (or MVP) of your marketplace can provide vital user feedback to direct your product development. If redesign or pivoting is needed, your budget will be secured. Spending less money and time on your product at this stage lessens the chance of failure.
# 4 Uncomplicated A/B Testing
It is a nice idea to evaluate user behaviour to justify and better your marketplace concept. WordPress permits integration with apps such as Optimizely and Unbounce, which aid you to run A/B tests. An A/B test divides your traffic, driving one group to your current page (the control page) and another group to your new page (the test page). That way you can recognize the tweaks needed to maximise user experience and finally conversion rates.
# 5 Host Of Plugin Solutions
The WooCommerce plugin is a superb option for e-commerce websites. By itself, WordPress is a detailed piece of software that is equipped with mainly what’s needed to develop a splendid website. Nevertheless, numerous people find they wish to include specific features that aren’t present in the core product. That’s where plugins play their role – tinier pieces of software that can be uploaded to WordPress to enlarge its functionality.
Plugins are precious to an e-commerce portal, and you’ll require a minimum of one. A few plugins will allow you to develop and operate an online store, while others will aid with handling inventory, offering support, interacting with customers, and assuring security. Thankfully, many common e-commerce plugins do some or whole of these functions, not requiring you to install separate tools for every element of functionality you wish to include in your store.
Some of the best e-commerce plugins to select from are:
- WP eCommerce
- Ecwid Ecommerce Shopping Cart
- Easy Digital Downloads
# 6 Numerous WordPress Themes Offer E-Commerce Options
Apart from selecting your plugins, picking a theme constitutes the greatest decision you take regarding your site.
A theme constitutes a software package that decides your site’s styling – how it’s arranged, what it appears like, and how features like sidebars and menus operate. Your theme is critical as it regulates how your site seems to users. It also impacts how conveniently they are able to discover information and conduct purchases.
It’s vital to select a theme that is either crafted particularly for e-commerce or minimally possesses the entire design features you’ll require for your store. You’ll wish to select a theme that offers plenty of customization options, a wholly responsive design, and an interface that is user-interactive.
# 7 WordPress Offers Convenient Security Options
After you’ve picked up your theme and plugins, you begin installing your website. As you perform that, an important consideration should be security and updation of your site. Security solutions are must for every website, but in case of an ecommerce site you require a wide-ranging solution. This is because an online outlet houses individual user data and financial transaction records that need to be properly protected.
Since WordPress has undergone different versions and possesses a dedicated community assigned towards its upgradation, this core software is thoroughly secure. The WordPress community has focussed on all aspects of security that ensures the protection of your website as well as the personal details of your customer.
Some of the aspects of WordPress concerning security that keeps your site updated relates to backups if in case anything turns faulty. For this, you need to use a backup plugin like Duplicator. Besides, free tools like Sucuri Security are also available that bolsters the defenses of your site. Moreover, certain WordPress plugins also allow you to monitor user activity and site modifications, so as to view the activity of users. Like for instance, you can review Activity Log.
# 8 WordPress Constitutes A Huge Community
WordPress includes not only a technical support unit, but also a community of WordPress fans. As WordPress is utilized globally and can be customized in various ways, you can instantly find a solution if you experience any difficulty somewhere. The community support of this platform is ever growing as it has a large group ready to help newcomers and learners. You can find a host of WordPress courses present at Lynda.com.
If you are a newbie to WordPress, you can learn its fundamentals from its official WordPress help site, obtain structured online tutorials places such as WP Apprentice, YouTube channels that are dedicated like WPBeginner, support forums for particular plugins and themes like the WooCommerce forum and various Question and Answer forums.
WordPress provides an amazing solution for your ecommerce site and offers you a decisive launch into the online marketplace. WordPress lets you build a storefront that is professional, caters to customer demands, and is fully functional. It is indeed difficult to find a more versatile, customizable, and properly-supported platform.
It’s the only WordPress that offers you a string of plugin solutions like WooCommerce, unlimited themes to support e-commerce options, easy security solutions, and placing at your fingertips vast community support.