A Marketplace Works like Magic on Service Performance
For decades, eCommerce has been plagued by inefficiencies, particularly in the realm of Services. To grasp why a Service Marketplace is essential, it’s important to recognise that Services remain an unsolved part of the eCommerce equation.
Success in eCommerce hinges on both {PRODUCTS + SERVICES}—not one over the other, but both working together. While Merchants sell via a platform PRODUCT (their online store), online success depends on SERVICES (like Email, PPC, and Facebook) to generate traffic. Clearly, a blend of {PRODUCTS + SERVICES} is critical for merchants to succeed.
In response, IRP has created a SERVICE MARKETPLACE that unites {PRODUCTS + SERVICES} in one ecosystem. We believe that a Marketplace has the potential to solve the Services in eCommerce. But are we on the right? Read on…
eCommerce is Solved by {PRODUCTS + SERVICES}
Not ONE or the OTHER - BOTH COMBINED
Why a Benchmarked Service Marketplace is the Missing Link
In eCommerce, Services have by far the greatest impact on profitability, yet they remain largely unregulated, inefficient and unbenchmarked. Without clear benchmarks, Merchants are left in the dark about whether their Services are truly performing. If over 50% of eCommerce success depends on Services, then a data-driven approach to Service Trading is essential.
Benchmarks, data, and competition of Services are just as critical as the platform for profitable online selling. Since Service outcomes CAN be measured in direct financial terms—Costs and Sales—a SERVICE MARKETPLACE offers a simple yet powerful solution to measure performance, rank providers, and offer Merchants choice.
Service Markets drive Performance by COMPETITION
The Service Marketplace has Worked Magic
Merchants who have engaged in the Market achieved remarkable results. The Service Market identified Inefficient Traffic Spend, Cost Overruns, Poor Channel Performance, Poor International Sales, Better Providers - and some Merchants have seen sales growth of over +400% simply by changing Services.
This IRP Service Marketplace approach - where data has been collected on every Service Provider's historical results - removed the guesswork and risk to offer decisions based on data. It has transformed both eCommerce results and thinking.
Competition, when it is embraced, breeds excellence and innovation. Measurement of Service Provider results - in Traffic Costs and Revenues - puts the Market onto a profit footing. Merchants are then given the power and resilience of a Market to deliver results.
eCommerce PROFIT is built on {PRODUCTS + SERVICES}
Conclusion on the IRP Service Market Investment
The Service Marketplace has demonstrated the power to transform outcomes. Competition forces Service Providers and Agencies to perform and innovate. It addresses the unsolved Services side of eCommerce using data and competition.
IRP has invested in Data and a Service Market - for sure the future is AI & Big Data driven but Services must not escape data, accountability and competition.
IRP do not believe in "eCommerce Magic" but the IRP SERVICE MARKETPLACE is the next best thing.
Read more about the IRP Service Marketplace...
