Posted 01/18/2021

Marketplaces: The 2021 Business Hero

Marketplaces: The 2021 Business Hero

2020 was a tough year for business in South Africa and around the world. The unexpected lockdown saw small businesses losing out and not being able to trade in the traditional sense. Despite this, we saw some business heroes who came up with innovative ways to save small businesses and keep them in business even during tough times. 

Marketplaces are traditionally platforms that enable buyers and sellers to come together to perform transactions. Due to social distancing, and in an effort to ensure customer safety, many businesses have come up with safer ways for businesses to trade with their customers. In response to this we have seen online marketplaces become the norm. 

Different kinds of online marketplaces 

Social Media Marketplaces 

Social Media has become an integral part of our lives. According to GlobalWebIndex and Facebook, consumers between the ages of 16-24 are turning to social media for product research. People really love convenience. In a world where we are constantly all busy, finding a place where you can not only socialize but also buy essential items is a bonus. Facebook, WhatsApp and Instagram have made it easier for customers to buy online. 

Social Media Marketplace Heroes: Facebook MarketplaceInstagram Business, WhatsApp for Business

B2C Marketplaces 

Big corporations have stepped in to help small businesses. Big corporations have set up marketplaces that aid small businesses by allowing them to sell directly to the end consumer via their online marketplace. These marketplaces aim to help small businesses throughout the country gain brand awareness and for them to connect with consumers online. On these marketplaces you can find plumbers, hairdressers, cleaning companies and more. 

B2C Marketplaces HeroYep! by Telkom Business and Visa Business Directory

B2B Marketplaces 

B2B Marketplaces have filled the gap that the other marketplaces cannot fulfill. These marketplaces are helping B2B service providers in the SME sector to connect with B2B service seekers. These marketplaces are there to ensure that these businesses also stay afloat and that small businesses are able to make some money. On B2B Marketplaces you can find services such as Accounting, Human Resource, Web Development and more. 

B2B Marketplace Hero:

The benefits of a marketplace

  • A marketplace gives you a way to market your products or services 

  • You can advertise at a much cheaper rate than other advertising channels 

  • Through online marketplaces, your brand gains increased brand awareness and sales 

  • The ability to reach new markets 

  • Being able to collect proven reviews from your customers

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Marketplace Landscape in South Africa

Marketplaces are not entirely new in South Africa, however it's only recently that we have seen them become more popular. Marketplaces date as far back to Bid or Buy which was established in 1999 as an online shopping and auction marketplace. Ever Since then, we have seen many more pop up including

How Serv Can Help You 

The benefits of signing up to the Serv marketplace is that leads or potential customers come to you. Once you have secured your leads all you have to do is convince them to choose your business over your competitors.

Serv gives small B2B businesses a platform to shine and compete with big corporations. Join Serv now for as little as R125 per month and get qualified leads straight to your inbox.

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