LetGo is a free program that allows you to sell a variety of items with just a few mouse clicks. Simply photograph the goods, and the system will determine whether or not to make an acceptable announcement and conduct a sale. The page includes a summary of LetGo’s key features, functions, and advantages, as well as instructions on how to build your own software that works similarly.
Contrary to popular belief, the secondhand market is reaching its full potential, and now is the best time for businesses to invest in it in order to reap the rewards.
Consumption is inextricably linked to our current societal structure. We are depleting resources at an unsustainable rate, resulting in a natural as well as economic imbalance. On the other hand, the secondhand market appears to be a viable solution to these issues.
This article will walk you through the process of creating a marketplace app similar to LetGo. To learn more about the details, keep reading.
It’s impossible to overlook Letgo when it comes to the forerunners of the second marketplace. One of the most popular classified applications on the secondhand market. For a long time, LetGo has dominated the second marketplace. Despite being a startup, it competes fiercely with established competitors such as Craigslist, eBay, and others.
LetGo has been successful in facilitating $23 billion in transactions to date. The app has over 45 million downloads and requires a minimum weekly transaction of $5 million. The company was founded in 2015 with the goal of providing customers with an extremely well-designed, highly optimized, and intuitive user interface. To date, LetGo has raised $975 million in funding.
Every day, 500,000 used items are advertised on LetGo, with 100,000 of them being sold, according to DMR figures. Consider how important functionality and customer convenience are in popularizing a peer-to-peer e-commerce marketplace app like LetGo if you’re wondering what drove the user base to such heights.
LetGo has undoubtedly grown into a fantastic platform where people can easily sell and buy a variety of items over the course of its existence.
A Step-by-Step Guide to Making a Marketplace App (9 Easy Steps)
It’s more important than ever to have a complete game plan in place before you start building an elaborate app with various features like LetGo, so you can implement the best method for building such an app. The best way to go about it is with a solid business concept. This will ensure that you have everything planned out from the start and that you are never caught up in the work process.
- Workflow and Business Model
Building an application from the ground up necessitates a well-defined and simplified approach, as well as focused efforts and discipline. A procedure can help you channel your resources in a more effective manner. Here’s what you can expect if you try to build a LetGo-style app and want to come up with your own business model. Continue reading to find out more about the details.
- Development of ideas
It makes no difference what the nature and characteristics of the application are. To gain a better understanding of the concept of what you want to produce, you’ll need to go through an ideation phase. LetGo was created with the goal of providing people with an easy-to-use application for selling and buying used items. As a result, he acts as a middleman between sellers and buyers. It will be difficult to turn the tables in your favor over time if you are unable to incorporate this core essence into your application. If you want to appeal to a larger audience, simplicity and convenience should be prioritized.
- The Ideal Structure
When working with large amounts of data, it’s more important than ever to have the right architecture to support an application’s operations. You must be able to master traffic management with the help of a well-designed structure as you anticipate an increase in user numbers every day.
4. Database servers
Only after diving deep into the world of data will you realize how important it is to have well-optimized data servers to ensure that your application’s back end runs smoothly. While there are many options available on the internet, keep your application’s and users’ needs in mind when making your decision.
- The Back Office
You’ll need a lot of time, study, and effort to come up with a back-end setup that will help you achieve your goals if you want to add features that will set you apart from the currently existing applications where users can sell and purchase used items. The fundamental functionality of an application is found in the backend. The less time you spend on maintenance in the future, the more streamlined, efficient, and optimized your backend is.
- Front-end programming
The appearance of your application has a significant impact on user popularity, which is a well-known fact. While most people focus on how it differs from other programs, you must make sure that the user interface you choose will eventually build trust among app users, allowing them to feel comfortable using payment gateways.
This, on the other hand, is something you’ll have to figure out for yourself. You have completed the front end of the application when you are satisfied that the application’s outlook and user interface are user-friendly, somewhat familiar, easy to use, and reflect the spirit of your application.
- A mobile device application
After the back and front ends of the application have been completed. Testing and deployment are the next steps. However, keeping the app’s implementation in mind is critical to avoid becoming trapped in a never-ending cycle of testing. This will aid you in developing a bug-free application with fewer errors.
Because communication over APIs must be seamless in order to not only attract new users but also retain them by providing a pleasant customer experience, the mobile application is the most important component of the process.
Aside from that, novice developers are likely to overlook app nativity. If you’re making an iOS version of your software, make sure you follow all of the iOS guidelines to the letter; the same goes for Android.
8. Gateways for Payments
Payment gateways are always a major concern for an eCommerce platform. These gateways must be secure at all times because they handle financial transactions
- Marketing Methodologies
Standing out from your competitors in the eyes of customers should be a top priority when trying to carve out a niche in a crowded industry. One of the most effective ways to do this is to use excellent marketing strategies.
What Makes a Letgo-Like Marketplace App Profitable?
Many different components and techniques make up a business model for an app like LetGo. The best method, on the other hand, is to concentrate on item selling and acquisition.
Membership options on the platform also provide a promising revenue stream. However, if you’ve managed to keep a certain number of customers, this is something you should consider.
Aside from that, clickable advertising can help your app become more profitable. Check out the following features if you want to learn more about LetGo’s revenue model.
Improve the Premium Option
This premium feature will promote the sale of a specific entity by placing it at the top of the search results for a 24-hour period, and it will cost sellers $2.
LetGo Pro is a more advanced version of the LetGo app.
LetGo is a fiercely competitive platform for auto dealer sales. LetGo Pro can be used to generate more local leads, raising the stakes and bolstering the deals. This is made possible by imports and ad synchronization. LetGo Pro costs $99 and comes with a 30-day trial period.
Google’s AdWords
You’ll see how contextual advertising can be beneficial if you follow the book’s instructions.
Incorporate These Key Features into Your Marketplace App
Control Panel for Users:
- A flashing screen
- Registration is required (Google, Facebook, Phone, and Email) –
- Your account will be verified.
- Please enter your username and password (Email ID and Phone)
- Explore
- Chat
- Favorite Artists
- Go to My Account to manage their account and billings.
- Details about the product
- a promotional code
- Geolocation
- View the Sellers’ Profiles
- Product evaluation/rating
- Control Panel for Administrators
- Signup/Login
- Dashboard
- Profiles of Sellers and Customers are double-checked
- Organize your customers and sellers.
- Make a plan for your invitations.
- Make a prize list.
- Payment
- Notifications via push notifications
- Ahead of time notification (SMS, Email, Facebook, WhatsApp)
- Sellers’ Panel
- To log in, use your unique ID.
- Promote
- Make sure your profile is up to date.
- Advertisements Should Be Placed
- Contact
- Stats
- Using the app to communicate
How to Start a Marketplace Solution (as a Bonus)
Here are some pointers for creating a successful marketplace software like LetGo. Continue reading at this link:
- From the standpoint of a user, consider how this software can act as a link between merchants and buyers.
- Prepare a cash flow strategy. The amount of money you put in, how much you spend, and how long it takes you to break even.
- Ascertain that the project’s business strategy, process, and technical components are all in order to ensure that everything runs smoothly.
- The testing stage of the app development process is crucial. You must correct any flaws or malfunctions that you find.
