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Five Methods To Create A Marketplace Platform

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Five Methods To Create A Marketplace Platform

There are plenty of different options when it comes to creating a marketplace platform. Selecting the right one for you is a long process that concerns your income, deadlines, aims, and your skills. Here, we cover 5 favored approaches which will help you build a nice marketplace platform and discuss the pros and cons of each of them.

Methods to Create a Marketing Platform

Every method has a huge range of attributes that will help you understand these marketing platforms better.

Building a Marketing Platform from Scratch

If you are tight on the budget, this method can be best for you. This one is the cheapest way so far. And you don’t have to get a pricy license due to the autonomy.

But with the other methods, you can easily adjust different characteristics and performance speed by getting a hired team of professional developers. If you are making your marketplace platform from scratch, your developers’ team has an obligation to do the best job they can. But take into consideration that you have to make some updates and upgrades in the future – always keep scalability in mind.

Hiring a Coding Team to Build a Marketing Platform from Scratch

Build a Marketing Platform from Scratch

To implement the first method, you should have some knowledge and put some effort into your work. When you hire a team of professional developers, you take all responsibilities off your shoulders but you still have all the rights to make decisions and the final say is yours.

As a result, you get a new and unique marketplace platform. But keep in mind, that this method might cost you up to $50,000 if you hire developers from the US. That’s why it might be a bit pricey. But the end results are definitely worth it.

Building a Marketing Platform with the Existing Solutions

This method has a quick payoff but it also requires more investments at the beginning to make the start a bit more powerful. And there might be some extra costs like paying a set price each month.

Hiring a Coding Team to Build a Marketing Platform with the Existing Solutions

This method is very much alike a preceding method, but it involves third-party developers.

If you don’t have strong development skills to supervise the platform in the future and you can cover all the costs, you might consider using this method. It is quite pricey. The cost starts at $10,000 but it saves you lots of time.

Saas for Creating a Marketing Platform

Saas for Creating a Marketing Platform

One of the easiest methods to start your own platform is to use SaaS, which stands for ‘Software as a Service’. This service allows interacting with the platform interface without any deep coding knowledge. It doesn’t cost as much as previous methods we have mentioned. The price is about $1,000 and it doesn’t sound much when you think of the income you will get in the future. The service, however, has limited possibilities for creativity.

Things to Consider Before Picking the Method

We can’t name the best method that we’ve described above because it depends on various factors like the following.

Consider Your Budget

List your budget and see if you can hire the professional developers’ team. The price for this service starts at $5,000 and can go up to $50,000 or even more. But this option gives you an opportunity to get a superb marketing platform and some time to upgrade your business.

Consider Your Experience

You can easily work with SaaS by yourself if you know some basic HTML and CSS. But if you’re not sure or you don’t know, don’t spend time learning it. Just hire a coder that will help you with that.

Consider Your Time Limits

SaaS platform is the fastest to create. It can be made within a few weeks. Other methods might take up to several months to create.

Conclusion

When you decide to choose one of the above methods, see what goals it pursues. But it’s easier to find a professional development team to help you out with that.

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