Subscription Marketplace Checklist
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Build with right platform & features
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Manage your Vendors
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Generate Revenue
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Grow with the right strategy
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Launch Your Marketplace
The idea of subscription boxes is nothing new, but with convenience of subscription plans the industry forsubscription boxes has spiked from $57 Million in 2011 to$2.6 billion in 2016.
The sudden surge of covid-19 has shown the global subscription box market to reach a value of$22.7 billion in 2021 and exceed to about$65 billion by 2027. Even without these figures just the benefit of having a steady revenue flow should be enough to get you started. Use this guide to check what you need to start to subscription marketplace.
Fun Fact:
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Around 54% of online shippers subscribe to a subscription box service
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Most e-commerce subscribers are likely to be within the age range of 25 to 44 years.
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Many popular subscription services charge a relatively low subscription fee of $10 or less
Select Your Platform
Select the best plan that suits your marketplace business
CMS Platform Recommend
CMS is a content management system with a set of scripts for creating, editing, and managing site content.
- Get ready-made infrastructure from the provider
- Add any feature compatible with WordPress
- With many developers, you save time
- The Support team's got your back
- Save cost on development
Custom Platform
Custom platform is created keeping specific needs of users in mind.
- Personalize your platform
- Added feature equals to added cost
- Customisation takes time
- Create a unique platform
- Not ideal for future customisation
Top Subscription Marketplace Features
Know Your Vendors
Understand the variations available in the marketplace
Solve the Chicken and Egg Problem
Who Comes First Buyers or Sellers? Easy tips to add sellers
Marketplaces are built on the premise of buyers and sellers transacting with each other. But when you start, you have none of those. So how do you convince sellers to join a platform without buyers and vice versa?This problem is referred to as the chicken and egg problem of online marketplaces. Read Here to gain an in-depth insight. Ensure excellent service providers Build a community
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Ensure excellent service providers
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Build a community
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Find an enterprise client
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Be the single-player
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Promise to find buyers for your suppliers
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Create a super niche and leverage
Marketplace Monetization Strategy
Study of Important Marketplace Module
Key Takeaways
Components | Netflix | Cratejoy |
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Type | Marketplace for movie subscriptions | Earn their income by selling small subscription boxes of multiple products. |
Revenue Generating Process | Netflix creates subscription-based packages for viewers to get access to the desired content. | Cratejoy charges its user's service costs (including delivery charges) along with a transaction fee for the platform's usage. |
Customer Benefit | Apart from producing personal content Netflix partners with various directors and producers to keep the content game up. | Cratejoy offers analytics, customer portals, and dedicated support to users.. |
Advertisement Strategy | Netflix leaves no stones unturned when it comes to advertisement from social media marketing to email marketing to running ads they have done it all | Cratejoy keeps it simple and sticks to only facebook and instagram advertisement. |
Synopsis | Netflix has amassed a significant part of its audience by selling personalised content available by subscribing to various packages. | Being a part of the market has allowed Cratejoy to create a customer base big enough to attract merchants. |
Grow Your Marketplace
If you are looking to grow your business, here are a few option for you to try