Moving forward to the past, classified advertisements are the main revenue source for newspapers and many business owners are interested in publishing their ads cost-effectively according to their preferred choices such as size and information etc.
In the later 90’s era, the classified slowly entered into website banner placement that were like popping up mushrooms after the rain. But, now it has completely transformed in the shape of digitized platforms such as online mobile applications where it is easy to connect with common peoples.
Do you believe it or not? Apps like Letgo pave the way for classified ads to easily reach the public. Moreover, the online application companies have generated huge annual revenue growth especially in three digits millions.
Have you ever thought about how these online classified apps succeed? The reason behind the success is the convenience offered to all people. Along with this, any person including both shop owners and customers can sell or buy their items in this digital marketplace.
After reading all such things, if you are interested in gaining more profits from this digital space. Then starting an online classified ads business using Letgo Clone is the best choice for you.
Having more interest in online classifieds, let’s continue reading this blog below.
Choose Your App Preferences in Online Classified Business:
Before launching your first online classified marketplace in digital space, you should be aware of your business cycle model, analyze your targeted audience and finally examine the niche that are in current trends of the online market.
So that you can showcase the trendy items to the sellers via online classified software. Let’s discuss the two classified ads models that are available in the industry. There are
- Horizontal Classified Model
- Vertical Classified Model
Horizontal Classified Model:
In horizontal classified model, the online classified application platform that suits all the products starting from automobile to makeup accessories. This application model concentrates on all categories to get clear searches and results. Moreover, it offers tons of goods and there is no limitation of products and services beyond it.
So, creating this app model can benefit the people to sell and buy all product items from one digital platform.
Did you know? Researchers find that almost 75% of people stay active by searching in online classified applications to buy or sell second hand products.
Vertical Classified Model:
In horizontal classified model, the online classified application platform that suits only specific categories or businesses. In this type, you can get involved in real estate and automobile industries like second hand cars selling and buying marketplace.
Moreover, this app platform only concentrates on narrow categories, but it will be easy for niche specific audiences. And overall the customers quantity is less than the horizontal classified model.
Having a less audience base can affect your revenue stream of your online classified ads business. But this vertical classified model is a better solution who deals with expensive niches like real estate and automobile industries.
Based on the market demand, the both classified models are highly evolving and making dominance in their user circle.
Let’s choose your own online classified model based on your preferences and build a specific classified application for it.
Key Features To Launch an Online Classified App:
As you are running an online classified business, it is important to have different categories of product listing in your application. Providing multiple categories of buying and selling items can find their needs in a convenient manner. By this, you may be aware about this category and able to provide services for all types of audience widely within your online application.
Sometimes, the users may get confused while buying and selling product items from your online classified application. To avoid such a case, you can come up with a simple smart search bar that helps the users to search the listing items within seconds.
Enhanced Bidding Options:
Enhancing the bidding option can increase the revenue of both seller and owner. First of all, you need to know what the bidding option is. If more than one user is interested in buying the same product, then the bidding option plays an important role.
Using this bidding option, users can bid on their interested products. Finally the highest bid user can buy the product from the seller. By this, the selling prices of products would increase higher and reflect in your revenue.
Trendy Product Showcase:
Focusing on season based selling and buying products listing can increase your revenue growth. For that, you can showcase the trendy and season based products in your listing section. This helps the people to know trending items based on seasonal occasions and you can clear the stocks with this trendy product showcase feature.
Focus on User’s Experience:
Focusing on the user’s experience can improve your order sales and revenue from this online classified ads application. So, you need to come up with admiring user interface designs and excellent features. All of these make the users comfortable while using this app.
Protecting the user’s data with high level security can help the app owners to retain the potential users within your online classified services.
Revenue Model of Classified App:
From the online classified apps like Letgo, you can earn through multiple platforms through advertisements and commission from the sellers. Let’s discuss it in detail below.
This premium model is to display the product items of your subscribed seller, who desires to add his product on the top live page of your online classified application. This ad would showcase for certain days based on the subscription plan of the sellers they made in your app.
This sponsored listing feature allows the seller to list their product items on the front page randomly in your online classified application, the more clicks placed by users will increase your advertisement earning points. You can also follow the ad sponsor feature in the trendy location too, for giving additional value to the products.
After reading this blog, you would get some knowledge about how you can gain more profits from online classified business. Instead of developing the online classified application from scratch, you can try this Letgo Clone. This helps you to save more time and money while developing the app from scratch.