Retaining Buyers and Sellers Is Easy, Right?

Thu, Nov 28, 2019, by Gemma Doswell

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Platform Economy

Disintermediation

User Retention

So, you’ve launched your own online marketplace, gig economy or sharing economy platform. What’s next? You need to attract users and, more importantly, retain them. But it’s actually one of the biggest challenges for a platform business to overcome. A study found that the average lifespan of a platform business in the US market is less than 5 years, and even shorter in the gig economy where platforms collapse on average after just 2-3 years.

There can be any number of reasons for this but one of the most significant ones is disintermediation.

Disintermedi-what?

Disintermediation. It’s when buyers and sellers use a platform to connect but then transact independently, off-platform after the first transaction. Also known as network leakage, it’s a common problem, especially in the gig economy. Click here to check out our animation, where we explain exactly how disintermediation works and how best to avoid it.

But you don’t want to know the problem, you need the solution! Once you’ve watched our animation, scroll down to take a look at our top 10 tips to encourage buyer/seller loyalty and get ready to make your platform shine.

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And don’t forget, if you want more from Paybase, scroll down to the form below to subscribe to our mailing list.

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Paybase Event! Marketplaces and Gig/Sharing Economy Platforms - Fast Track Your Success

On October 11th Paybase is hosting a collaborative workshop and networking event for online marketplaces and gig/sharing economy platforms. You may be wondering why we decided to host such an event, and why we’re so excited about it. In this blog, w...

Thu, Sep 20, 2018, by Dan Whale

Workshop

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Paybase collaborative workshop 2: In photos

Last week saw Paybase host the second in its series of collaborative workshops, aimed at fast-tracking success for platform businesses. Thank you to all those that came to listen to our three industry experts share their words of wisdom - especially...

Thu, Jan 24, 2019, by

Workshop

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How do payments work for online marketplaces / gig / sharing economy platforms?

Choosing the right payments option can be the best early decision your business makes If you are currently setting up your platform and are starting to think about payments, bear in mind, platform payments work differently than payments for more tr...

Wed, Feb 27, 2019, by Dan Whale

Platform Economy

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