In one of my previous posts I explained Why (not) to Build A Two-Sided Online Marketplace? The challenge is to solve the chicken and the egg problem. The benefit is that with marketplaces you create a Network Effect which makes it easier to grow and more valuable for the users.

Based on the book Traction: Traction: A Startup Guide to Getting Customers from Gabriel Weinberg and Justin Mares. The book is very interesting and it is readable summary of all the ways to get traction. Connected to the book there is an interesting portal to discuss the book. The URL is discuss.tractionbook.com.

Based on chapter 14 Email Marketing, I described some idea’s to use Email marketing to Build A Two-Sided Online Marketplace.

email-marketing

Use lifecycle emails

These are lifecycle emails, where the email cycle begins when a customer signs up for your product and ends when the customer becomes active (i.e. the “lifecycle” of the customer). For marketplace the cycle is from 2 sides. Let’s say you start a marketplace to bring small jobs for companies and starting freelance to execute them together. The process is based on the Pirate metrics from Dave Mc Clure:

The jobs for a company:

  1. Acquisition: A company can subscribe for weekly newsletter with cases, to learn and get used how it is working with starting freelancers (so people with experience but not experienced to work for themselves)
  2. Activation: A company can submit a job for starting freelancers
  3. Retention: The subscribed company will get a list of freelancers who fit to the job. Company can apply with one-click in the email
  4. Revenue: Via weekly emails the progress of the project will be communicated. Hick-ups will be announced with alerts
  5. Referral: After the order is delivered the company will get a email to rate the freelancer

The freelancer to execute, gets a lifecycle email after subscription.

  1. Acquisition: Mini course, how to work as a freelancers with a company. The course will be provided in different emails, after subscription. To gain freelancers can be done with promotion of the mini-course (see other chapters in the book Traction.
  2. Activation: After running the mini course, the subscriber (freelancer) will get an email where he is invited for a small test. Based on the score of the test, the subscriber can be activated as a member (for example bronze, silver, gold member)
  3. Retention: The subscriber will get offers via email in which he can easy apply with one click
  4. Revenue: Via weekly emails the progress of the project will be communicated. Hick-ups will be announced with alerts
  5. Referral: After the order is delivered the freelancer will get a email to rate the company. The better the rating and the better the membership (bronze, silver or gold), the better offers the freelancer will receive via email.

Use email retargeting

Email retargeting is a tool you can use for revenue. If freelancers or companies seem to be satisfied but didn’t use the service for some time, you can send them an email and ask what is going on. Dependable of the reaction you can try to send them better offers.

The same for companies or freelancers who don’t seem to be satisfied after the first match. Ask them via email why they are not satisfied and react on it. Probably you can partly automatize the emailings after some time but quality should be the tartget and not to get rid of your members.

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