Technology

Which is the best marketplace software? Open Source vs Paid Software.

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Running an eCommerce business? Or decided to start an eCommerce business?

This article is for you!

Ecommerce is the most welcoming business in today’s busy world. Most of the people ended the day in shopping online. It will save the customer’s time and can help to purchase 24/7/365.

How an eCommerce business benefits you?

#1 Convenient Access:

We all know that eCommerce is very much hectic between the customers because of its comfortable usage of shopping. If you increase more convenient for your targeted customers by making them shop more, your eCommerce sales will be increased.

Another main reason is, the shopping process and the website should be user-friendly to merge with that particular platform. You have to keep in mind about this friendliness with your customers.

Since customer shops without a time limit, you have to provide proper customer support for all time. The helpline will be ON always to fulfill the queries of the customers. Customers will recommend your store with their friends if the services are useful and good. This will result in increased customer traffic.

#2 Popularity:

If you are already running a physical store; your customers will be coming from that particular local region where your local store is situated. Or otherwise, if you are new to this eCommerce business, then you don’t have existing customers.

ECommerce will help you in this situation by getting huge traffic to your online store. Since the website will be available worldwide, your online store will reach many customers. So, it’s not a problem of having local or no customers.

Search Engine helps you a lot by recommending your website to those who require your Niche products.

The only thing you want to do is identifying the correct keyword. Google aids you by providing an appropriate keyword planner tool. This tool is the best business partner for you as it gives all the necessary search teams that are used by the customers. The tool will provide you the volume of users who uses those keywords in the form of low and high competition keywords.

You have to identify the correct search term in the keyword planner tool by the customers and arrange the content based on it to rank top in the Google search.

#3 Analytics:

Google also provides you another great tool called Google Analytics, where you can analyze the source to improve your website performance.

The source will be Users, Geo, Device, etc.,

Users:  In Users’ source, you will be provided with details like no of users reached your website.

Geo: Here, you can find the user’s location including their country, continent, and cities. So that this will help you to increase your marketing growth to that region.

Device: In this section, the device used by users like mobile/PC/tablet will be shown. For example, if mobile users are low, then you have to improve the mobile performance of your website.

This Analytics will help you to identify all the users’ details to improve the website according to your targeted customers.

#4 Easy Marketing:

Marketing the products will be easy in online compared to offline marketing helps in reaching more customers.

E-mail Marketing: The technology is improved well and all have their own Mail-Id. So, gather the mail id of your customers and you can email your products, offers, and services seasonally to the customers to get in touch with them.

Content Marketing: Content is the best thing to notice on your website. To drag the audience towards your store, produce different forms of content like audio, video, post, etc., with fun, colorful and useful. This will engage the viewers more with your store.

SEO: SEO is also an intelligent process to do which helps you to rank high in the Search engine in an organically to get organic customers.

Thus, eCommerce also helps you to promote your products easily in various ways.

#5 Traffic:

If you follow the above four points successfully, then traffic automatically generates to your website that too as an organic customer.

–>We discussed the benefits of eCommerce. Now how will you buy that eCommerce platform?

#6 Multi-Vendor Marketplace Platform:

In Multi-vendor, since many vendors selling the same products, customers will have many choices for a single product and it aids them to choose the best at an affordable price.

Hence, Multivendor software is the best eCommerce platform for beginners to spread your business.

You have 5 types of the multivendor marketplace, from that, you can choose the best-suited type for you.

  1. Online Product Marketplace: This is the most used type where the sellers and buyers connected for the eCommerce process. E.g.: Amazon
  2. Online Service Marketplace: This type is especially for the service provider. This type helps you to offer services all over the world via this one huge platform. E.g.: Fiverr
  3. Online Rental Marketplace: Based on the name, in this type, you are allowed to rent goods from another. E.g.: Ola
  4. Hybrid Model in eCommerce: This type comprises both the product and service-based models. E.g.: Olx
  5. Hyperlocal Marketplace: This type is useful when you are promoting your goods and services in nearby locations. For example, Swiggy.

Learn more in detail to understand the complete process of these Marketplace types here: 5 Types of Multivendor Marketplaces.

After deciding the type of your business, it’s time to buy the marketplace platform to start the eCommerce activities.

Ready to buy the best Multivendor Marketplace Software?

Now, you can have three important points to decide while starting eCommerce business in the Multivendor software platform.

  • Understand the Multivendor platform process
  • Analyze the competition
  • Plan your Budget and buy the Multivendor eCommerce platform

#1 Understand the Multivendor platform process:

Decide the niche: Niche is the particular product that you want to sell in your eCommerce platform. The multivendor platform is acting as the bridge between you (the admin), vendors and buyers.

You want to invite vendors to your platform to start selling their products in your space. You can check that the vendors will match your niche in their online store. Because your interest in running the business is important to achieve the success level.

Earn Money: You can earn the money while the vendors register their business in your platform as a subscription fee. You can offer many deals while the vendor subscribing to the platform; it is an indirect form of marketing to attract more vendors to your platform.

Also, you make money whenever the purchase is made in the vendor store; you will get the amount as a commission fee.

Take Responsibility: Since you are the admin, you have to take all the responsibilities of the eCommerce space like the design of the store, price comparison list, helpline, customer support process, and shipping process.

If any complaints in the products, the buyers will directly report to the vendors but the admin has to take all other main responsibilities.

#2 Analyze the Competition:

Competitor Research: The eCommerce is famous from the past years, thus when you are entering into the business, you will need to face the competitors in the niche. This is very important to analyze to become first in your eCommerce business.

Competitor Analysis tool: Competitor behavior will be analyzed in Google Analytics (GA). You can use the competitor website in the GA and analyze the features as we discussed above. You can find the keywords and technologies used by the competitors in the tool.

Features to note: Competitors will use some keywords in their site. You have to find the not used keywords by your competitors and use those keywords in your website if you find that keywords are valuable and high ranking to cover the customers who are using those search terms. Similarly, note the content that your opposite team is making and develop the best competitive content to become higher than the opposite team.

#3 Plan your budget and buy the best eCommerce marketplace platform:

Validating the Budget and time-frame will help you achieve success in the project on time.

Budget is the first thing comes to mind when starting any new business. You have to fix the budget that you are going to invest in this online eCommerce business.

Based on your budget range, you can have two types to select:

  • Opensource Marketplace Software
  • Paid Multivendor Marketplace Software

Opensource Marketplace Software: Opensource Software is a good option as it is available for free. Also, it gives free access to the source code and provides better customization options. Since the platform is maintained by you, more technical knowledge is needed to design the online store effectively.

Paid Multivendor Marketplace Software: The paid multi-vendor marketplace software is the best option for beginners; even it will cost some amount, not giving access to the code, it is the best because you don’t need technical knowledge to use this platform.

We will start chatter about the actual topic…

Both the OpenCart b2b marketplace and Paid Marketplace software have their function; they differ with some points. Let’s confer about the key differences in which the multivendor Marketplace software differ irrespective of the money.

Open Source vs Paid Marketplace Software

Which is the best marketplace software to buy?

Open-source or Paid Software!

#1 Opensource Software:

  • Pricing:

The multi-vendor eCommerce open source is available for free and also provided the source code for free. But it has a little number of functions. To add the extra functions to this multi-vendor marketplace open source platform, you have to use the addon to your platform which will cost some amount to you.

It provides free source code but the source code is also enabling your software owner; this means your source code will be recreated by them.

In this multi-vendor OpenCart free platform, even the source code is given at no cost, there are some other issues included with it like Security, IP, Functional issues that you want to solve individually.

  • Customization:

When comes to customization, the open source marketplace platform is the best option. Yes, it is highly customizable.

Even the open source b2b marketplace is free, the software will provide you many customization options. Some of the following features you will be benefitted here are:

  • Integrating Design: There are few free templates available for you to change the design of the store.
  • Developing New features: If you want to add new features, it is possible. But you have to pay the amount and add addons to the software if that feature is highly appreciated by your customers.
  • Long term software updates: Updating the software is very important to add new changes in the software makes the customers happy to get something new.
  • Enhanced vendor activities: The vendor can able to modify changes in the online store.
  • More flexible compared to the paid platform: Flexibility is high in this open source software.

Let’s check into support.

  • Support:

Since you are the only person to maintain all the functions in this free multi-vendor marketplace software, you need technical knowledge to solve all the issues. Since it is free, it has some limited features.

At the same time, technical knowledge will be necessary to solve all your issues. There is no support available for you from the software. It is a little disappointing thing to know, but this is the truth.

  • Scalability:

If the customers increased in this marketplace software open source space, you may want to edit the source code but with some issues. Because it is a limited feature, you can’t expect many changes in the free multi-vendor eCommerce software.

Also, without support, you need not provided with modifications and need to use addon with the amount to solve the problems.

  • Security:

In all businesses, security is the most important aspect to analyze. In a free marketplace platform, you will not be provided with high security. When something goes wrong, you have to take responsibility for all issues.

Again, you can have an option to keep addon on your platform to maintain minimum security.

  • Installation:

If you are gaining many customers, then the features are necessary to fulfill the customer’s expectations and requirements.

In this open source b2b marketplace platform, you have to install all the additional features by paying some amount. Addon will help you to add additional features.

  • Uses:

Thus, you can buy this free marketplace to sell all your products, only if you have a temporary eCommerce business or a light-weight business process.

#2 Paid Marketplace Software:

  • Pricing:

The paid marketplace will cost you some amount which has two formats:

  1. A) SaaS type pricing:

Software as a Service (SaaS) is one type of marketplace platform business, where the software is available for the rent and it is hosted centrally by the third-part applicants of the software.

The price of the SaaS is based on a monthly or annual subscription model.

Example: Gmail, one of the popular SaaS mail service providers.

Cons of SaaS:

-Since the host is controlled by the owner of the software, you have to be dependent on them.

-SaaS provides unlimited features but you have to pay the amount which is excluding the basic features of SaaS.

-SaaS being handled by the third-party team, security is not assured in this SaaS marketplace Software.

  1. B) One-time subscription Model

One-time subscription is the best option as you have to pay the software with one time and you will be provided the features for lifelong without any additional costs.

The total cost of this model will be less when compared to peer to peer marketplace open source platform because the payment for addon will be high based on the extra features you needed on the online store.

For instance, Purchase Commerce is the best multivendor marketplace software, which you can purchase for a onetime payment with the lifetime subscription model. It is based on the next-gen technology (i.e., Angular and Node-based technologies). Purchase Commerce also provides unlimited features similar to SaaS without any additional costs.

Customization:

When comes to customization, the paid marketplace software will also be highly customized space.

Customization here includes:

  • Different themes: In paid software, there are several templates available for you to access and you can design the store based on your customer requirements.
  • Category Management: Since there are many products available in one huge place, an organization is necessary to find the products quickly. Hence, the category is significant to add in the platform and it is also customized. You can order the products based on your wishes.
  • Filter Option: The filter option will also be available in the software to make a quick search for a particular product. There is no limitation to make customization.
  • Shipping Page: You can customize the shipping page; for example, you can put all details like payment and shipping information on one page or a separate page.

As to say, Purchase Commerce is a highly customized eCommerce platform where you will have colorful and varieties of Angular themes to design the store effectively to indulge your targeted customers. All the mentioned features are available in the Purchase Commerce platform.

  • Support:

Since you are paying the amount in the Multivendor marketplace, you will be provided with the appropriate technical team to solve your issues and you don’t need technical knowledge. The helpline will be available all the time.

Also, it is paid and it has unlimited features to access the features in the online store. This paid eCommerce platform is especially helpful for beginners.  Purchase Commerce is also user-friendly and provides technical support for you 24/7.

  • Scalability:

If the customers increased in the paid software, you can edit the source code easily without any issues and modify the features according to your customer requirements.

This paid software will provide you permission to make modifications based on your idea. If something goes wrong, along with the support and your scalable features, you can solve the problems easily.

  • Security:

In this multivendor space, you will be assured with high-end security and the owner of the software will provide you an efficient solution when you face some issues.

Security is not even a problem and all the customer details are highly protected by the highly secured database. CMS (Content Management System) software is used here to manage all the digital content safe.

  • Installation:

Here in this paid space, you can be provided the software with all the features installed properly. You can even add additional features. The regular updates are available correctly on time.

  • Uses:

The paid software is useful for a giant like marketplace business and specially designed for the long-term business model. It is also useful for short-term business.

As I say, Purchase Commerce is also a lifelong business model software.

Summary

As we discussed much information about the open source eCommerce marketplace and paid Multivendor eCommerce software, each platform has its pros and cons.

FeaturesOpen-source SoftwarePaid Multivendor Software
PRICEFree to use; but for addons, it needs an extra amountSaaS monthly subscription method or the One-time payment method with lifelong support
SUPPORTNeed Technical Knowledge, but free source code available.It does not require technical knowledge.
SECURITYLowHigh
SCALABILITYNot very highHigh
CUSTOMIZATIONVery HighHigh
INSTALLATIONAvailable if paying extra costsAvailable
FLEXIBILITYHighHigh

 

Final Thoughts:

The paid marketplace software is the best to buy for long term eCommerce business. It has provided you all the inbuilt technical and non-technical features, so you need not responsible for all problems in the software.

You can also refer to the Purchase Commerce, eCommerce platform which provides both the single-vendor and multi-vendor marketplace Software at an affordable price. Built with the latest technologies on Angular and Node, it will fulfill all the customer requirements and helps to attain huge traffic to your eCommerce business. It is an SEO friendly platform.

Purchase Commerce has enclosed various important features in it to meet your needs like Payment gateway integration and customer management, etc., You can refer more features here: Purchase Commerce eCommerce Platform Features

Buy the best ecommerce platform and start to develop your online store now to reach worldwide for getting a greater number of customers. I hope this article will give you some idea about the open source multi-vendor eCommerce platform and paid marketplace software.

James Stephan
James Stephan is a Digital Marketing Manager with Infinijith, a globally recognized full stack development company specializing in mobile & web application services. He provides innovative ways to help tech companies, startups, and large enterprises build their brand.

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