The main aim of a social marketplace is to give its members an opportunity to trade in their products. Along with having an online business, members have the scope to interact with like-minded people.
Inform A Large Group Of Population About A Product
Nowadays, most people rely on the internet for information, entertainment and socializing. By registering with a buy and sell marketplace, one can also get the feel of earning through the internet. Such sites are a platform from where people can advertize their products and also actually find some customers to buy them. This is a good source of promoting one’s home based business. Advertizing one’s products through other media like newspapers or printing leaflets is an expensive proposition. Moreover, one cannot reach out to a large number of people. On the other hand, by advertizing on a social marketplace site, one can inform a large number of people about his products or services. This means greater chances of informing prospective clients, some of whom may also actually mean business. One can join a buy and sell auction for free or for a minimal membership fee. Once a person registers as a member, he can view all the items that are advertized on the site and also access the links which lead to the products websites. Some sites charge a one-time joining fee after paying which the member can advertize his products on the site. Some online marketplace sites allow free membership but charge a certain fee to advertize a product for thirty days. The fee charged is the same for all products advertized, irrespective of their size or value. Some social marketplace sites allow free membership, but charge a commission if a product advertized on the site gets sold. The commission charged is generally a small percentage of the selling price of the product.
Increase One’s Contacts
Such sites are a good platform for entrepreneurs and also for others who are interested to buy and sell items. Often one can find a certain product advertized on the site which is not available in any real showroom, for instance an invaluable antique item. Sometimes a person may be interested in giving away a personal item which is in good condition but he does not need it anymore. By advertizing such an item on a social marketplace, he may find a person who is interested in it and would like to buy it at a lesser price than its actual market value. Through such kinds of bid and buy sites, the person who wants to give away an item can get a cost for it while the buyer can get a product of his choice at a lesser cost. An equally important aspect of such sites is that buyers and sellers can make friends with the people they deal with. The members who advertize their products can also post their profile on the site so that visitors to the social marketplace can get to know about them and their work. In this way, people can learn about others who are involved in selling similar items or interested in buying them.
By joining a social marketplace, one can expand his contacts, which is essential for any business enterprise to grow.