Updated: Nov 1, 2021
The world is changing every single day, and so is marketing. Thanks to the advancements of technology, a new era of the marketplace will make marketing agencies obsolete. So, what do you think this new era is going to look like? Grab a cup of coffee and bear with me for 5 minutes.
As some of you might hear the term "managed marketplace," you start to wonder what it means and how and why it is the next wave of the marketplace? Don't worry; you are not alone. Interestingly, Bill Gurley, a general partner at Benchmark, recently tweeted a similar question concerning the difference between a managed marketplace and a traditional marketplace.
So, let me explain it to you. A marketplace is a platform that helps make the connection between buyers and sellers. Think about the digital market, like Amazon.com, for a second. It enables buyers and sellers to engage in one-stop-shop transactional relation, regardless of geography or location. On the other hand, the managed marketplace is defined by Version One Ventures as "marketplaces that don't just connect buyers and sellers but take on additional parts of the value chain to offer a better experience."
For instance, at 150birds, we offer a Marketing-as-a-Service (MaaS) solution that leverages peer-to-peer marketplace with service added for freelancers and B2B and B2C companies that lack marketing resources. We guarantee essential clients like startups and SMB's by offering necessary resources that clients can tap into and all the aspects of marketing to free up the financial burdens that entail from marketing agencies.
By adding managed services, marketplaces can unlock new demand by helping both parties, buyers, and consumers, overcome the trust issues associated with most peer-to-peer marketplaces.
Managed Marketplace vs. Market Agencies
Marketing is an essential part of business, as the art of attracting customers requires marketing. Without marketing, your company is sitting by the door, hoping that Santa might come knocking. Many companies hire a marketing agency instead of keeping things in-house. However, no matter how good the agencies are, working with them is deadly to many companies.
Facts like these signal a need to find an alternative solution that can serve companies advanced marketing functions but at a lesser cost, which is why managed marketplaces will make the marketing agencies obsolete. Here is how:
The model enables both parties a customized scope and bundle of services that fit virtually any budget, timeframe, and list of business requirements.
It provides customers access to a vast pool of talent at a low cost to improve marketing functions.
It enables customers to discover and build trust with the end provider more effectively.
Considering the benefits that would bring, online managed marketplaces are potentially the next generation of the marketing agencies. This model will make the traditional agency model obsolete and likely to restructure relationships between customers and marketers, enabling professionals to work remotely. Once the digital transformation finishes, this will become the standard practice, and there will be no turning back or no need to switch back.
At 150birds, we are here to help you create the ideal buyer personas that will help you better target your customers and help your business grow. Make sure to check out our services to see how we can improve your business and book a call to get started with your marketing team.