Market networks, the unicorn companies.
Market Networks form a new category of digital companies that combine the best elements of social platforms and marketplaces like Airbnb.
Marketplaces provide transactions between multiple sellers and multiple buyers.
Social networks allow a person to represent herself through a digital profile, build her own online universe add people in it, and share others’ universes.
What’s unique about market networks ?
As James Currier explains it in this article for Tech Crunch, market networks :
- Use SaaS workflow software to focus action around longer-term projects, not just a quick transaction
- Promote the service provider as a differentiated individual, helping to build long-term relationships
A market network often starts by enhancing a network of professionals that exists offline. Many of them have been transacting with each other for years using fax, checks, overnight packages and phone calls.
By moving these connections and transactions into software, a market network makes it significantly easier for professionals to operate their businesses and clients to get better service. A many-to-many 360 ° transaction pattern is key.
What must a market network take to be a success ?
- Target more complex devices
- Consider each client unique, and each professional unique
- Focus on a project to launch collaboration
- Help relationship building
- Make referrals simple and frequent
To discover exemples of market networks, you can read the whole TechCrunch article here.
Photo credit: Bigstock
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