The rise of ecommerce has taken every business to the next level. By understanding the buyers’ buying behavior, entrepreneurs started stepping into online businesses. The products that are sold online will come under any of the two popular categories ie. Physical products and digital products. The online retail stores are delivering physical products to their customers but still delivery and packaging of the products are very challenging. This difficulty is not faced by digital products marketplace platforms. All the digital products are shipped electronically to the customers through email or they can directly download it from the internet.
The technology advancement can be seen in the digital products marketplace. With the digital products marketplace, people enjoy personal freedom in the platform to sell digital product always has the upper hand over the physical products selling and it perfectly fits into global selling.
Type Of Items In A Digital Products Marketplace
Business Model of Digital Products Marketplace
Digital products marketplace maintain the independent business models. The supply chain is entirely different from the supply chain of a normal physical store. There is no burden of maintaining physical stock as far as digital products are concerned. Let us take a look on the business models of digital products marketplace.
Revenue Model For Digital Products Marketplace
Listing Fee Model
The digital products marketplace website owner can have a separate section for placing advertisements by the sellers. Sellers can make use of the space and can place their own advertisements that will be charged by the admin. Through listing fee, you can expect great website traffic
The digital products marketplace admin will have several commission slabs and the seller can select the one that is comfortable for him. Whenever a product of a seller is sold, he will give a commission amount for the sold product to the admin of the marketplace. The admin can have different commission options for different sellers.
With this method the admin can earn a fixed earning every month. The seller can become a member and can pay the membership amount. Subscription marketplace revenue model needs to be renewed periodically.
Challenges (with Solution) Faced By Digital Products Marketplace Software
- Sales Can Take A Dip Sometimes:
There is a lot of uncertainty when it comes to business. So there are lots of possibilities for the sudden decrease in sales, especially with the digital products marketplace.
2. Some Products Not Performing Well:
We may have several products in our digital products marketplace platform but the problem is only a few products will be fast-moving the rest will stay in our marketplace and their sales will be low comparatively.
3. Product Categories Shortage:
People always expect new arrivals in your marketplace. Especially repeated visitors will know well about your existing products and every time when they enter your site they search for the new ones. If there is no updation then there you will lose the visitors’ interest.
4. Website Performance And Functionalities:
Your website should be active always and should have enough traffic all the times. But this may not happen as expected. If your server is down then people will bounce back and you will lose your traffic.
Some other challenges that you will be facing as a digital products marketplace owner will be:
- Unplanned marketing strategies
- Fail to monitor the competitors
- Laws that keep hold on digital goods
- Problems with copy rights
Opportunities In The Digital Industry
The major crowd is available online and people are getting well-used to all digital products marketplace. Nowadays, nowhere you can find cassettes or CDs in any house. All are using the digital medium and they simply download what they want by paying it online. So there is always a greater scope for the digital industry in this modern world.
Launch Your Digital Products Marketplace Software with Zielcommerce
Zielcommerce is the best marketplace for digital goods selling business that has gained trust globally and fosters a new business relationship between the seller and the buyer. With zielcommerce, you can expand your potential audience and also can acquire new customers. The seller interface is clear and simple. The advanced analytics will let you analyze your sales and track your marketing strategy performance.
- Simple registration process – lets your user to have an easy registration with few steps.
- Vendor profile management – vendors will get a dedicated page to have their own profile and listings.
- Advance search tool – this is the most significant too for any marketplace. This will allow the user to have a quick search on the products.
- Flexible commission plan – admin can easily fix the commission slab and can also change it whenever required.
- One time cost – just pay once and own the complete software.
- Secured transaction – the platform to sell digital products marketplace is completely secured from all malwares so you can integrate the payment gateway of your choice.
Essential Features For A Digital Products Marketplace
Marketing Tips and Tactics for Digital Products Marketplace
Promoting your digital products marketplace is the key factor that is going to get you good business. One should wisely brand the product and reach the target audience in a short period of time. In this case, we can use all social media platforms that are highly popular nowadays and can run successful campaigns that will gain you more visibility. There are also several ways of digital marketing that can leverage your ROI easily.
Finding Influencers: there are many influencers who have lot of followers to their account. We can make use of those influencers for our marketplace promotion. By getting them you can have their followers visit your marketplace and in turn you can increase your traffic.