They attracted buyers (users) and sellers (suppliers/service providers) and built enormous, asset-light empires to enable commerce and collaboration across the globe. And thanks to the flywheel nature of successful platforms, (ie. attracting more buyers brings additional sellers who then offer even more products and attract even more buyers) many of these platforms have achieved nearly unrivaled monopoly status and the subsequent profits that go with it.
Unfortunately, not all marketplaces and platforms are so lucky. Although sites like Etsy, Upwork, DoorDash, and Cars.com are incredibly successful, the vast majority of marketplaces and platforms are not so lucky.
It doesn’t need to be this way.
Monetizing Marketplace Trends
At Veezoo, we enable platform and marketplace businesses to turn their unrefined data oil into sellable gold, analyzing and simplifying the mountains of marketplace data into tangible, data-driven insights and market trend reports businesses can then sell back to their sellers/suppliers or financial analysts.
For instance, if you are an Airbnb host with a business to run, it pays to know things like: “what is the average nightly price by room type in Tiergarten Sud?” or maybe you want to add a few more neighborhoods, or even find out: “how many listings for less than 100 euros by month?” Well, with Veezoo you can ask that and much more, allowing marketplaces to offer granular, actionable insights into the platforms they run.
And the uses of Veezoo are as vast as the platforms themselves. Want to know “how many new Italian restaurants were added to DoorDash in NYC in 2020?”, “what was the average Uber ride fare and wait time last September?”, or “which wines sold best last Christmas?” Not a problem.
Considering launching a plumbing business in LA or opening an Asian restaurant in Queens? Imagine how valuable it would be to ask Yelp’s database for answers.
That is Veezoo – a simple natural language interface to ask data for anything.
If you run a platform or marketplace business and are interested in exploring additional ways to monetize your data, set up a call with our team. You have invaluable data and based on our experience working with other marketplaces, your sellers are more than ready to pay you for those insights.
The best part? Better insights and data-driven decisions allows your sellers to better serve your customers/users, making the whole experience better for all parties. Which leads to more transaction fees, better brand loyalty, and the beginnings of a defensible flywheel.
Want to try Veezoo yourself? Sign up for a free 14-day trial to connect your data and in seconds, start exploring the insights hidden within your data.