Running an online marketplace comes with a bunch of challenges, and there are a lot of different pieces that need to fall into place for complete success. However, what many sites seem to struggle with is to actually monetize on their efforts.
There are different ways to go about it – some of the more common solutions are to either sell more ad space, introduce premium content or look to expand your offer with consultancy services etc. – but will these activities really have the desired effect, if the content quality and offers on your site are not optimized?
Think about it, it makes sense to optimize your own site and offerings before asking someone to pay for using them.
56% of buyers would buy the product in a good listing
We know that buyers are attracted by good content, in fact; only 20% would buy the product in an ad with poor description and 73% were unlikely to return to the site. Compared to 56% and 37% for a good listing. And we also know that sellers are attracted by a big pool of potential buyers, so why not prioritize making sure to offer both buyers and sellers the best possible experience?
Ensuring that your product provides value to your users will make convincing them to stay and pay a much easier job.
At the Property Portal Watch Conference in Bangkok, we revealed the top 9 listings to remove from your real estate site in order to optimize for monetization. Here is the full recording of the presentation: