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How Instacart Works: Comprehensive Business & Revenue Model

Guest User 22nd June 2015

How-instacart-works-business-model

What is Instacart?

Instacart is an on-demand grocery delivery platform facilitating doorstep deliveries of groceries and other home essentials in major cities of USA. The technology-driven business model of Instacart boosts of delivering groceries to customers in as little as 1 hour, making it one of the most promising and futuristic company of USA which is based on sharing economy model.

This grocery delivery startup has become so famous in the on-demand sector that a lot of budding entrepreneurs are interested to learn more about Instacart business model and understand its overall working in order to develop the next big thing in the sharing economy. This post from Juggernaut will show you how Instacart works and makes money along with some interesting facts and figures about this $2 billion valuation company.

Founders, Funding received, Facts and Timeline

Instacart was founded in year 2012. It is one of the most recent technology developments which has shaken the world by its business model. Being considered as a leader in on-demand economy, Instacart has received massive funding to expand its grocery delivery operations all across USA. Here are few facts about Instacart:

  • Founded by: Apoorva Mehta (CEO / Founder) and Max Mullen (Co-Founder)
  • Funding received: $275 million (Till the mid of year 2015)
  • Company Valuation: $2 Billion. (As per Jan 2015)
  • Revenue: $100 million (As of Jan 2015).
  • Headquarters: San Francisco, California, USA.

The following graphic will help you understand the quick growth of Instacart.

instacart-funding

The amount of funding received by Instacart clearly shows the trust of investors in this start-up and its projected future. To understand what makes Instacart a promising company, let me quickly take you through the salient features and the value propositions of Instacart. Thereafter, we’ll move on to understand Instacart’s core working and its customer segments.

Salient Features of Instacart:

  • Available in major areas of the USA including SF Bay Area, San Jose, NYC, Brooklyn, Washington DC, Philadelphia, Boston, Chicago, Austin, Seattle and Los Angeles.
  • A collection of over 300,000 items from several stores such as Whole Foods, Safeway or Costco enabling customers to place orders from their favourite store or to mix items from different stores into one order.
  • Crowdsourced Marketplace model with users being connected to personal shoppers who shop for ordered items and deliver them to the customers.

Value Proposition:

  • Tie-ups with existing supermarkets
  • Willing part time workers and their cars
  • Vast inventory
  • Extremely quick delivery
  • No warehouses
  • No shiny delivery trucks

Instacart’s 3 Customer Segments Explained:

Users:

  • They have an app from where they can order groceries by choosing one or more stores.
  • They can even order from a desktop or laptop using a web based interface.
  • Users pay online for their order and can tip their shopper in advance during check out.
  • Option to shop from any of the available stores in their area. An order can even be placed by combining items from different stores.
  • Users can schedule orders for a specific day and time.

Shoppers:

  • Shoppers receive orders on their smartphones.
  • Shoppers are stationed near the stores in order to save time.
  • They pick up the ordered items manually and deliver it to the customer.
  • Apart from the per hour pay, shoppers often get a tip from customers.

Stores:

  • Instacart has tie-ups with major superstores in various cities.
  • These stores have been able to increase their revenue through online sales via Instacart.

Instacart Business Model Canvas

changes done

The 4 step model about How Instacart Works:

  1. A customer places his order for groceries and pays online to instacart.
  2. A personal shopper receives the order and starts collecting items as mentioned in the order.
  3. Shopper pays the bill through Instacart’s prepaid debit card which is accepted at the store.
  4. The shopper then goes to deliver the groceries to the customer as per the address mentioned in the order.

Any tip paid in cash at the time of delivery directly goes to the shopper and the tip paid to shopper during checkout gets accumulated in his Instacart account and is paid at the end of the week along with the salary.

Instacart revenue model – How it makes money?

  • Delivery Fee

Every order processed by Instacart which is above the value of $35 attracts a standard delivery fee of $3.99 for a scheduled or 2 hour delivery and $5.99 for a 1 hour delivery.

Orders under $35 value are charged at $7.99 for a scheduled or 2 hour delivery and $9.99 for a 1 hour delivery.

  • Membership Fee (Instacart Express)

Instacart offers an annual membership by the name ‘Instacart Express’ priced at $99. Users having this membership can get free delivery of groceries for full 1 year with few terms and conditions.

  • Mark up prices (15%+ more)

Some stores selling their products on Instacart offer the same prices as their in-store prices but few stores listed on Instacart have a mark-up of 15%+more from their in-store prices. The revenue from these mark-up prices goes to Instacart which helps them pay the shoppers.

How Instacart finds customers?

  • Word of Mouth Advertising
  • Internet Marketing
  • Free first delivery
  • Various offers

The process of Recruiting Shoppers:

  • Application are invited from individuals who want to earn money by shopping in their free time.
  • Applications are processed by the recruitment team and a face to face, one on one  interview is scheduled.
  • Proper training is provided to selected individuals before they are ready to shop and deliver groceries.

Key Problems and Solutions:

  • Shopper Retention

    As all shoppers work part time, it is difficult to retain them for a long time. To enhance the earnings of shoppers, Instacart added an option to pay tip to a shopper in the check-out section of the website.

  • Reduce Delivery time

    Delivering groceries within 2 hours was a challenge for Instacart. To reduce the delivery time, Instacart places its shoppers outside the stores where it has tie-ups. Whenever a shopper receives an order, he is already at the store saving him 50% of the time.

  • Shopper Shortage

    As Instacart shoppers work as freelancers with flexible schedules, it is difficult to manage the freelancers fleet and assign instant tasks to them. To deal with this problem, Instacart introduced a “busy pricing” policy by which it adds few dollars as delivery charges to a customer’s bill depending on how busy its shoppers are. A part of this additional price is also paid to the shoppers so that they can work as quick as they can.

  • Customer Trust

    Customers lost their trust in Instacart when they came to know that the company is putting up its own pricing for products. These prices are marked up from the in-store prices. Instacart soon admitted to the marked up prices. However, few uses might have stopped using Instacart due to this, but majority are ready to pay the mark-up prices in order to get groceries at their door step.

  • Wrong item Delivery possibilities

    Sometimes a shopper picks up the wrong item and delivers it. To handle all such issues, Instacart has a dedicated support team which can be reached over the phone or through email. Refund is processed if the personal shopper misses an item in the order list.

  • Out of stock items

    Sometimes, Items in the shopping list go out of stock. In such cases, shoppers replace the non-available items with similar items that are available, which might not be wanted by the customer. To deal with this problem, Instacart allowed customers to add notes and they also added a “often out of stock” button on such items for the reference of customers.

The Future:

Grocery delivery business has a great future as more people want the most easy and convenient way to buy grocery items. Promising delivery within 2 hours, instacart has become a powerful solution in the US and with $275 million funding, it is ready to take on other cities in the USA as well as expand outside the country. Forbes has ranked Instacart at the Number 1 spot in the list of America’s most promising company.

So now you know how Instacart works. This amazing technology can be used to create a similar business model in the on-demand segment. If you are dreaming to make the next big thing in this world, then this is the time to take action.

Get in touch with us and know how we can help you own the next technology masterpiece!

Want to get the business model of your On Demand Idea right?
Download the free eBook ‘On Demand Economy Business Model 101’ now!

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You may be interested in these articles

Customer

The customer-purchasing process could be a long and winding road. Multiple touchpoints on multiple channels intertwine to make a buyer’s journey that’s difficult to predict and influence to form an acquisition. Within a B2B pharmaceutical and natural science new business context, things are harder yet.

Even for the seasoned marker, marketing to draw in new customers and clients going into 2020 is difficult.

But assuming you have already got a roster of shoppers or clients on your books, you’ll focus less on the acquisition and focus more on keeping current customers happy and returning for more. It makes total sense: Spend longer with the clients you have got already won and stop chasing around aggressively searching for new clients. The costs associated also will be but the prices related to customer acquisition. To attain this, you’ll be able to look to make brand loyalty and reward your loyal customers.

Customer satisfaction levels

When it comes to customer satisfaction, there are five levels of measurement: 

  • Not satisfied: The customer felt their needs were not met.
  • Slightly satisfied: The customer felt that some needs were met but most were not.
  • Satisfied: The customer got what they expected.
  • Very satisfied: The customer got what they expected plus some pleasant surprises.
  • Extremely satisfied: All expectations were completely exceeded for the customer. 

5 Tips for Building a Loyal Customer Base

1. Offer Flawless Customer Service

Customer

It’s difficult to form a product/service that doesn’t have flaws, and your customers get that. But when something goes wrong, you would like to be there for the purchasers. By developing a culture that lives and breathes customer service, you’re more likely to scale back your churn. At the identical time, it’s imperative to leverage the correct communication tools. Frequent communications via the proper channels keep you fresh in their minds. It will enable you to unravel their queries and depart from this world’s crucial information. The subsequent customer communication channels are great ways to be there for your customers.

Live Chat: Live chat may be a quick and simple thanks to connecting your support agents with customers in real-time. Furthermore, with texting and hyper-connectivity becoming mainstream, this fits right into their digital habits. Agents can reach customers at precise moments in their purchase journey. Meanwhile, customers receive instant access to your support teams. What’s more? Live chat can even be leveraged to push warm leads all thanks to the tip of the sales funnel by easing the onboarding process.

Video and Voice Call: Dedicated tools that launch video and voice calls at just a click of the button make it very convenient for patrons to quickly connect with support agents for more comprehensive support sessions. Some video and voice call tools offer advanced features like zero downloads, one-click activation, one- or two-way video, and automatic recording.

Chatbots: AI-based chatbots can help to scale your customer support efforts overnight. A power-packed tool can even automate the handling of the maximum amount as 80% of your customer queries! And when conversations take a fancy turn, they will be intelligently handed off to the proper agents.

2. Hunt down customer feedback

Customer

One of the largest keys to improving and retaining customer loyalty is seeking out customer feedback. Sending out surveys, asking questions on phone calls, and keeping track of your ratings while soliciting for the maximum amount of feedback you’ll be able to get will ultimately be very telling in how you’ll be able to improve your customer service.

Online reviews and comments or tags on social channels or other online forums are great places to reply to both positive and negative customer feedback. Doing so will show that you just engage with all customers which you’re taking real criticism seriously so as to best serve your customers.

Sometimes it’s best to require negative responses during a private channel. After engaging in a very particularly negative comment, you’ll ask to modify to a non-public message or email so as to raised serve their needs.

For regeneration, you’ll be able to ask to showcase customers’ messages. you will even ask to conduct a follow-up interview or other style of engagement to urge more out of the nice review. it’s also good to always reward your customers for his or her positive contributions!

3. Create a Sense of community

With such a big amount of social media platforms, there’s no excuse for not creating a community. Communities are efficient thanks to starting a conversation along with your customers and encourage user-generated content. for instance, you’ll be able to ask customers to share pictures of them using your product and sharing it on Facebook, Instagram, Pinterest, etc.

4. Don’t neglect existing customers

It’s incredibly easy to forget your existing customers when you’re busy trying to achieve new customers. To avoid frustrating your loyal customers, confirm that your product or service doesn’t diminish over time.

5. Develop a homogenous brand identity

If customers can identify together with your company and feel good about it, they’re going to be more likely to stay loyal. Create the same, clearly defined identity for your business or product. Advertise to create brand awareness. Make sure all social media communications are in line together with your brand values. Provide consistently high levels of customer service.

6. Communicate your values

Customer

Before you can increase customer loyalty, you should first understand what aspects of your brand are worthy of your customers’ loyalty. Sit down with your team and come up with a marketing strategy that outlines what makes your brand stand out, what your purpose is, and how your values align with your customers’ core beliefs.

Specifically, your marketing should focus on those brand attributes that are unique to your brand and where you can stand out from your competitors. Sometimes standing out can mean standing up, which is becoming more common. Two-thirds of customers now buy based on belief, according to an Edelman study. But you don’t necessarily need to get political. In fact, that might not be true to your values. Your brand values should be your guiding light. Be firm in your beliefs and communicate them authentically. if you want to know more in detail, you can give it a read – top ways for businesses to build customer loyalty.

Takeaway

By now, you must have a much better plan to gain client loyalty. However, the talent of consumer retention comes through expertise, and it involves some trial and error. The necessary factor is that you just keep faithful to your initial vision, keep your eyes open for brand new market desires and opportunities, and always try to deliver high-quality. If you are doing all the above, building a powerful consumer base isn’t an undoable accomplishment for your company.

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astrology software

Let’s say you have a very important job interview tomorrow. You have polished your resume. Set all the alarms, brought your clothes back from the laundry, checked the fuel in your car. Basically, you’ve left no stone unturned to improve your chances of bagging that job. 

But later that evening, while on a call with one of your friends, who’s a tarot card reader, you are told to leave your house two hours earlier. She tells you that the said time window is auspicious and will get you the job. Now, silly as it may sound, you follow her instructions and leave two hours earlier. And guess what? You even land your dream job. 

Now, one may speculate all they want as to whether the card reading got you the job or something else was at work. The point is that you don’t mind getting a little extra help from an astrologer to improve your chances of scoring the opportunity. Unsurprisingly, you aren’t the only one thinking like this.

A whopping 30% of US adults believe in astrology. While this is not a clear majority of the population, the rest of the population isn’t on the other side of the fence either. A significant chunk of the population hasn’t got their minds made up about astrology, meaning they might not mind taking a plunge into astrology software.

Why build astrology software?

We live in the digital age and are more used to getting our needs fulfilled instantly, rather than later. The same holds for something as controversial as astrology. Gone are the days when someone would travel all the way to an astrologer to learn what lies in the future. In other words, it can be said that online astrologer consultation marketplace is the dark horse of the Indian online marketplaces!

astrology software

A typical consumer, these days, would take the phone out of their pocket, search for an astrology app, and download it to get a horoscope made for them instantly. If you have an astrology business and haven’t gone digital, then the chances are that you are missing out on a large chunk of potential customer base. 

However, the above logic applies to you only if you already have an astrology business. If you are still in two minds about starting your astrology business and launching an app, then here are a few reasons to help you make up your mind.

The pandemic boosted the astrology business

It’s tough to keep the Coronavirus pandemic out of any conversation these days. It swept across the globe in no time and made innumerable small and medium enterprises go out of business. Funnily enough, it seems like even astrologers themselves couldn’t have predicted the kind of success they’d experience during and after the pandemic’s peak.

The first couple of weeks of the pandemic were equally difficult for astrology businesses as they were for any other business. However, things started getting better right after that period. All the uncertainty and the loss of loved ones made people turn to astrologers. All of them wanted to know what the future holds for them.

While this isn’t exactly something to celebrate, the fact remains that the pandemic played a major role in bringing more customers to the astrology businesses. You shouldn’t hesitate to cash in on that with the best astrology software.

How is Panther the perfect platform to build your astrology software?

astrology software

When it comes to building an astrology app, you’ll have two options to go about it. The first one is to create a custom app by assembling a team of developers and putting in a lot of money over a long period of time to finally launch the app and website. 

Custom app development will make you go through multiple development phases and spend a lot of time and resources on them. A loose breakdown of a typical process would look something like this:

  • Market research
  • Competition research
  • Hiring
  • UI/UX design
  • App development
  • Testing
  • Deployment and support

Based on your region and specific requirements, custom astrology app development could cost you anywhere between $10,000 to $300,000.

If you are someone who’s not well-versed with the technicalities of creating a digital product, then the path of custom development might not suit you that well. You don’t want to find yourself caught in sprints, testing, analysis and whatnot. Especially when the revenue generation is yet to begin. 

The other option you have to build the best astrology software online is to use a ready-to-ship online consultation marketplace such as Panther. It allows you to set up an online consultation marketplace in no time, with all the advanced features and at very competitive pricing.

Let’s have a quick look at all the useful features you can have by building your astrology app through Panther

astrology software

Conclusion

If you seriously wish to start an online astrology business, then you need something that would let you get started in no time and is also easy on your pocket. Panther is the perfect solution for your needs. With a nominal monthly subscription fee, tons of advanced features, and a speedy turnaround, it’s the perfect partner for your astrology consultation marketplace idea.

And if you want to learn more about the trends of online astrology consultation, here is a small read on “why is online astrology getting so popular?”

Moreover, you’ll also get regular updates for the application that will help stay updated with the ongoing market trends at no added cost. So, waste no time and visit Panther right now to start your online astrology business.

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90% of the success of a product or service is its marketing or promotion. If you start an online marketplace, the first and foremost thing is for you to attract stakeholders to your platform. 

It’s easy if you are a big brand. For example, a few days ago Netflix launched an e-commerce platform. Since Netflix has huge brand equity, it won’t have to struggle much to get people’s attention. But even Netflix was unknown during the reign of Blockbuster. All big brands like Netflix, Amazon, Zomato started small and now reside in the hearts of millions of people. The tool that takes them from nothing to being a synonym with the activity ( Netflix =OTT watching, Amazon =shopping) is promotion.

So the question arises, what is promotion?

Nathan Earling gave quite an analogy. He said, “ if your product is a party, promotion is the invitation to attend. Promotion can be defined as a form of communication to inform the target audience about a product, service, brand, or issue. This communication is of influencing nature and calls the customer for action.

In the case of an online marketplace, promotion is of two types: one is to attract potential customers and merchants to your platform. The second one is to communicate your products and offers to your customers so that they make a purchase. Your Yelo provides you with numerous promotional tools. Listed below are the ones you can find in the marketing section of your admin dashboard:

  •  promo codes
  •  referrals
  •  ad banners
  •  loyalty points
  •  push campaigns
  •  gift cards
  • FB shops

Promo Codes

Promo codes or promotional codes are alphanumerics that businesses offer to encourage purchase. These codes provide checkout discounts. The discount can be on a specific product, a delivery charge, and whole order and can be in percentage or specific dollar amount. The maximum amount of discount that can be availed as well as the minimum cart value of the order to qualify for it is also determined by the admin. Yelo enables you to provide 3 types of promo codes:

  • Auto apply promo codes: These are the most commonly used codes. As the name suggests, they are auto applicable during checkout. When the customer places an order, during checkout the code is visible and the amount is deducted from the cart value automatically.
  • Public promo codes: These are the codes provided mostly by food delivery companies like Zomato, Swiggy, Dominos, etc. During checkout, the code is visible below the cart value and the customer has to manually enter the code, if the cart matches the criteria of code, it will be applied, else it will show an error message.
  • Hidden promo codes: These are special codes and are available to limited people only. You can send these codes as a refund for an order, or as a birthday gift. These codes can be sent by email, SMS, etc and are to redeemed by manually entering while checking out.

Referrals

Referrals are one of the most popular promotional tools. A referral program can be a big benefit to your business. For one, it enables you to attract new customers at a very low price. Referrals are important because not all happy customers are promoters. Unless they see a friend or family member in need of your products or services, he might never think of referring to them. Referral programs provide your customers with an incentive to refer your platform to others. A referral program standardizes the way you invite and reward customers for sharing your brand with others. By offering a formal referral program – with clear and attractive rewards – you can increase the odds of your business getting word of mouth. In yelo referrals provide discounts to both referee and referrer.

When you enable referrals from your admin dashboard, you define all the perimeters like amount and criteria for the discount for both referrer and referee. When someone refers your marketplace to his friend or family, he shares a unique code with the referee who has to type it in during the checkout of his first order to avail the discount.

Loyalty Points

The main objective of this promotional tool is to create brand loyalty. This is a very common technique among credit card companies. Its objective is to persuade people to make more purchases. In this tool, on every purchase, customers get intangible points. Admin sets rules and earning criteria. After earning points, customers can redeem these points for getting a discount on the next orders. Admin determines the monetary value and redeeming criteria of the points. Yelo also enables you to set expiration dates for the points thus persuading customers to redeem at the earliest.

Gift Cards

Gift cards are a special kind of promo code that you, admin provide to your customers. They can be provided for special occasions like anniversaries or birthdays. They are helpful for attracting customers who were active on your marketplace in the past but now have gone inactive. You can provide them gift cards to make them feel special and get them back to your platform.

Push Campaigns

It is a promotional approach in which promotional material is presented to a large audience at once through mass communication channels. It is generally achieved through TV, flyers, newspapers, etc. In the case of Yelo, you get a mobile push and chat messages for customers and mobile push notifications for your merchants. Mobile push notifications are in-app notifications that a customer receives whether the app is opened or not. Chat messages are notifications that a customer gets in the chat section of the application.

Ad banners

This promotional tool on your online marketplace is for the merchants. These are featured or sponsored products and merchants of your marketplace. They are visible on the top of your website or mobile app and are the very first thing that a customer sees. Clicking on the banners will take customers to the dedicated product or merchant. You can link an external webpage too with the banners.

Facebook Shop

By integrating your platform with Facebook, you can integrate your platform with Facebook pages. This would allow you to add products from your marketplace to FB shops

Having a store on social media platforms not only generates sales but also builds your brand awareness and brand association. It develops an audience and facilitates you to solve queries instantaneously. 

Yelo is working on integrating with other social media platforms too like Instagram and Pinterest.

Search Engine Optimisation (SEO)

SEO is one of the most integral aspects of promotion. It is the process of improving the quantity and quality of traffic to your website organically. Optimizing search engine putting your website among top results on the search engine. When a customer is looking for something that you provide, your page is among the top results. Yelo provides you with an in-built SEO tool that can help you get the most relevant prospects on google as well as social media. 

SEM is an inorganic version of SEO, wherein you will buy AdWords and pay for google ads so to bring in relevant traffic to your marketplace.

Conclusion

Seth Godin rightly said, “Marketing is no longer about the stuff that you make, but about the stories you tell.” Promotion is the way you tell your stories to your customers and merchants. It is the way of narrating your marketplace to the world. With Yelo you get access to numerous such channels. Choosing the right one for your online marketplace can increase your brand equity. The hyperlocal marketplace is the next big thing and promotions are what will make yours the great thing. If you are already using yelo, check out these tools. If not, get Yelo’s 14 days trial!

Know how Yelo can add value to your Business

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Jungleworks is happy and feels proud to share that our Flightmap mapping solution has been tested in 40 countries, and out of them, we have already received remarkable results from 20 nations. Among the countries which have shown positive results, Germany, Denmark, UK, and France are included. 

This brings us to the fact that Google Maps API isn’t the only option that remains for those who want to use accurate mapping services for their businesses. Using location data and maps API is crucial for every delivery business, irrespective of the type of deliveries handled by the organization. 

Be it a cross-country delivery arrangement or one that is limited to a small city; navigability is the key. Without a robust navigation structure in place, delivery businesses will be marred with delays in delivering the goods, high operational costs, unsatisfied customers, and so on. 

It all leads to a point where a business is forced to shut down. Ergo, we know that having a delivery system in place is essential. In a world where the big bulls are in it to win it, Flightmap is an intelligent Google maps alternative API and will compete with it to bring the benefits of a low-cost and potent navigating system

But is Google Maps the only Option?

In 2018, Google merged its 18 individual mapping solution API services into three core offerings;

  • Maps
  • Routes
  • Places

Each of these has its distinct features and requires a particular setting to work. Delivery businesses have to embed the relevant Maps API into their backend system to use and let their customers use the required service. 

For instance, organizations like DoorDash, Postmates, UberEats, Swiggy, etc., all use maps to help the vendors, delivery agents, and customers. While each of these stakeholders has a different purpose, the delivery agents require accurate location data and mapping services to ensure timely delivery and find the best routes.  

This makes Google Maps the key to success. But since 2018, Google has started charging businesses to use these services. And that’s not all, Google implemented a pricing structure that resulted in a cumulative increase of 1400% in terms of costs for using its services. 

Every organization has to adhere to the fee structure, which is set according to the usage. Google holds a monopoly in this domain, and this deters any new entrant from competing with the biggest bull in the market. As a result, delivery businesses of all kinds and structures end up paying. 

Another peril is that the way data is being controlled by major players may not be favourable situation in the future.

Flightmap is a Healthy and Cost-Effective Google Maps Alternative API

Flightmap brings all the benefits you receive with Google Maps API and much more at marginal prices. Where Google offers 28,000 transactions in a month, we provide 1 million transactions at relatively lower costs. 

Flightmap has the largest directory of APIs and SDKs, giving you a plethora of mapping services, including customized routes, search, location data tracking, and predictive route analysis. 

We bring one of the most comprehensive navigation systems to your dashboard with the aim to streamline your business operations and make them more efficient. With successful testing completed in over 40 countries, plans are underway to include other countries on the list below. 

Try Our 30 days Free Demo- Signup
Watch a 2 min video and see what Flightmap can do for your Business- Flightmap Video
For more visit – https://jungleworks.com/Flightmaphome/

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Online Healthcare Consultation

It is no surprise how the healthcare industry has grown over the years . Healthcare is an indispensable part of our life. And hence it needs a constant revolution to fill in the demands . Healthcare combined with IT and technology or Online Healthcare Consultation has made lives easier for both patients and healthcare providers. Further, the onset of the COVID-19 pandemic significantly impacted the telemedicine industry. In 2019, the telemedicine industry was worth $41.63 billion. In 2020, it saw a stellar growth of 91. 7%, making it a $79.9 billion industry. The use of on-demand mobile apps has increased drastically over the years and especially after the COVID-19 pandemic. As of 2017, almost 1.7 Billion smartphone users had some sort of mobile healthcare apps on their device. This constitutes half of the smartphone users around the world. In 2020, the mobile healthcare app market saw a major surge with a market value of more than $84,81 7 million. 

It has spurred medical consultants to expand their reach via the Internet through various platforms and mobile apps. The best part about these applications is that using them isn’t rocket science either. If you are thinking of starting an online healthcare consultation business, now is the right time to do so.

Why There is a Need for an Online Healthcare Consultation App?

Without a doubt, online healthcare consultation apps bridge the distance gap between patients and healthcare providers.

But, how? 

Imagine a situation when you have to rush to the hospital or your local physician to consult for any illness. Booking a new appointment with the specialized doctor could take a longer time than expected. According to HealthCare drive, patients in the US have to wait for 24 days to get a new appointment. Apart from the long wait times and queue, COVID-19 wreaked havoc on everyone, and the hospital’s were one of the most vulnerable places due to the spread of infection.

Benefits of Online Health Consultation

Online Healthcare Consultation

An online healthcare consultation works much the same way as other consulting businesses. The idea is to schedule and book an appointment with the doctors.

Without the need to physically meet, the hassle of travelling or waiting in long queues, patients can contact the physicians from the comforts of their home. However, this requires a platform where the patients and healthcare providers can have smooth and efficient communication. 

For this purpose, online healthcare consultation apps are designed with a plethora of features and functionalities that make communication a breeze. 

The growing popularity of the telehealth industry can be attributed to the fact that it provides benefits to healthcare providers as well as patients. 

The benefits of online consultation for doctor’s as well as the patients are manifold and may serve a common purpose in some cases for both parties, such as overcoming the geo-restrictions, saving costs, and reducing the chance of infections .

Benefits of Online Healthcare Consultation App for Doctors

  • Improve patients access to care
  • Contribute to more efficient use of time for doctors and patients
  • Help reduce healthcare costs
  • Enable high-quality communication with patients
  • Enhance the doctor -patient relationship
  • Cost-Effective
  • Accessibility
  • Manage Invoice
  • Feedback from Patients
  • Manage Workload

Benefits of Online Healthcare Consultation Apps for Patients

  • 2 Cheaper than Physical Visits
  • No Need to Travel
  • Digital Prescription and Reports
  • Reduced Risk of Infections
Online Healthcare Consultation

The satisfaction rate from the virtual consultation has been recorded as 99% since the onset of COVID-19. Well, the above benefits show why Telemedicine healthcare is the future and investing in the healthcare consultation business is a good idea. If you are considering getting a telemedicine app for your business, you must hop on to the next chapter and get a thorough understanding of it. 

Wrapping Up: 

The healthcare consultation business has come a long way. With 1:1 consultation and effective communication, patients can now seamlessly connect with the healthcare providers of their choice. Now, healthcare consultation has become bidirectional. Customers are now in the endless pursuit of interacting and getting their issues resolved quickly. It has become even more crucial since the onset of COVID-19 with the rising virtual healthcare services. With the right marketplace development partner, you can also create a successful and feature-rich mobile app or a consultation marketplace. To get brand recognition, you must do thorough research about your industry and its requirements. 

Telehealth marketplace development partners can help drive the right type of audience and improve brand visibility. Jungleworks’ solution, Panther can help you with an on demand healthcare marketplace having robust features that ensure maximum efficiency with cost optimization. It has everything to get you started; from customer management to tracking, marketing to invoice generation and more.

And one of the biggest advantages of choosing online healthcare consultation over the physical one- setting up an online healthcare consultation business takes up even less than 24 hours.

Hope this guide has helped you understand the benefits of developing a consultation marketplace and how to achieve the business goals through the same.  Let us know when you are ready to play your role in contributing your part to this new normal.

If you enjoyed reading this, we’re sure you will also love checking out what we have in store on our YouTube channel. You can also head to our page for more info!

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The global consulting market has witnessed phenomenal growth over the past couple of decades owing to the increasing need for assistance across such diverse niches as healthcare, business operations, financial services, and many more. North America which accounts for nearly half (44.5%) of the global consulting market, generated around $78.7 billion in 2019 followed by Europe which accounted for $45 billion.

Consulting

One study estimates that by 2020, 40% of the American workforce (a.k.a. 60 million people) will be freelance or contract workers. And that means some big changes in what companies will be looking for in their consultants.

Another major change that’s impacting the consulting industry is the ease in which people can find valuable information virtually. Communities have sprung up on the internet that tailor to professional development in every field. Much of the insight that would have been provided by consultants in the past can now be accessed on your phone or computer with just a few button presses – and most importantly, at no cost.

The COVID-19 Spectre – How Global Consulting Industry Fared During The Pandemic?

The COVID-19 outbreak brought the global economy to a standstill and had far-reaching consequences that were felt across all industries. The consulting industry is no exception to that. While hard to estimate, researchers try to come up with a number for the knock-on effect on the consulting industry. And they predicted that the industry could lose up to $30 billion in revenue in 2020. The magnitude of the disaster looked almost certain to cause a recession in the near future. 

Trends That Will Shape The Future of Global Online Consulting Industry

Consulting

The pandemic shaped the consulting industry trends moving into 2021 with an expectation of a dynamic shift towards virtualization, digital disruption, and flexible & personalized offering to businesses. Let’s discuss the key trends that are set to shape the consulting industry post-pandemic.

1. Greater Emphasis On Tangible Outcomes: The businesses seeking consultation in the post-pandemic era will anticipate quantifiable results. There will be an expectation from business consultants to eliminate the expensive diagnosis and implement cost-effective solutions. They will also be required to make sure that their strategies are aligned with the operational realities.

2. Personalized Consulting:  For Unique Business Challenges: Since all businesses have different requirements, they are no more looking for off-the-shelf solutions. Which are not specific to their business’s needs. Business consultants are now expected to eliminate the one size fits all model. And they are expected to know the operational insights of the business. This will facilitate them to bring adapted services to the table that meet the industry, functional, and client context.

3. Remote Consultation Over In-Person Consultation Visits: Working with businesses via remote consulting became the modus operandi in the post-pandemic world. This led to the widespread usage of virtual consulting platforms. Fast-tracking virtual consulting platforms can deliver the same outcomes as traditional consulting. And are going to remain strong in this new era.

4. Long-Term And Deeper Involvement In Business Operations: Consultants in the past would leave once they’d offered their services and seen them implemented in a business. However, clients now expect consultants to be fully involved. Also, get deeper insights as well as share the risk of implemented solutions. Consultants are required to build value-oriented business models instead of gearing towards quick wins and chasing new opportunities.

Online Consulting Platforms Have Made It Easier to Find Independent Consultants

Consulting

Back in the day, the consulting industry was dominated by large consulting firms. And just because expert advice existed doesn’t mean everyone could access it. Usually, it was the large or well-established companies that had the privilege of hiring consultants.

Fast forward to 2020, online consulting platforms have turned the tables and made top consultants more accessible to all businesses – small or large.

The process of hiring a consultant from an online consulting platform is very simple. Companies can have a confidential chat with a representative of these freelance platforms and state their requirements. Then, the freelance consulting platform’s representative sends profiles of handpicked independent consultants to the company. Businesses can go through the profiles of highly skilled consultants and select the best one for their project.

Imagine this: Businesses can now hire people who have worked for Fortune 500 companies like Google and Facebook very easily. The knowledge and skill sets these independent consultants can bring to a company, without making them spend half of their human resource budget on them, is really commendable.

How are Consultants benefiting from the rise of Consulting Platforms

Consulting

One of the very common reasons why some consultants leave big consulting firms to become freelancers is to avoid the ‘up or out’ system that a lot of consulting firms have. Indeed, things can get extremely competitive. Not to mention the organizational bureaucracy that might hold back a lot of gifted and talented consultants. Going freelance has a lot of benefits. And the ability to take on big projects without bureaucratic hindrance is one of them – something which is almost impossible when working as an employee for another company.

To make things more convenient, the online consulting marketplace has made it easier for consultants to find more clients. Consultants don’t always have to scour through their professional network to get new work. A lot of times, companies use the online consulting marketplace and approach them on their own.

Just a few decades ago, this might have been impossible. Many people probably didn’t even use the word ‘freelancer’, let alone hire one. And even today, finding new work consistently as an independent consultant might have been difficult if it wasn’t for a growing online consulting marketplace. Luckily, there is supply as well as demand.

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 Telemedicine

As The famous saying goes “Necessity is the mother of invention/innovation “. We have also observed the rise of many innovative ideas one of which is Telemedicine. Telemedicine involves the use of electronic communication and software to provide clinical services to a patient without an in-person visit.

During the pandemic, telemedicine has stepped up as a provider of primary and urgent healthcare for common ailments. And without exposing the patient and the doctor to the possible risk of the covid 19, conduct psychological state appointments, triaging patients with covid 19 symptoms. With Providers now seeing 5 to 175 times more patients via telemedicine and telehealth since the pandemic. Many in healthcare services believe that telemedicine has evolved more in six months than in the last decade with a 75% satisfaction rate.

Will Telemedicine Keep Growing Post Covid-19?

Now the question arises, will there be a growth in Telemedicine post covid-19 ? Frankly, we don’t know when the covid-19 pandemics will be gone for good. Or what the world will look like post-Covid. But we do know the role played by telemedicine in tough times like Covid 19. Now the world is familiar with telemedicine and knows the benefit it bestowed. And we can now say that telemedicine is here to stay.

Telemedicine

Research also shows the increased level of familiarity and satisfaction among both patients and consultants. That being said, it’s very hard to imagine that the world will go back to the ways things were. The Demand for telemedicine will only grow in the post covid world. As now it’s becoming a common practice to use and saves time and is easily accessible. The increase in consumer adoption rate for telemedicine is also a very good sign for the future of telemedicine. It has more than tripled from 11% in 2019 to 46% in 2020.

A study by Frost and Sullivan predicts that telemedicine market will see a seven-fold growth in market share by 2025.

In What Ways Telemedicine Is Expected To Grow?

According to experts, telemedicine can grow in two ways post covid-

  1. Telemedicine will transition from stand-alone ‘vertical’ to permanently integrated option for local practices
  2. Across a much broader range of specialties & practices, it will offer video consultations with a range of payment models. It will also include direct pay/subscription, retaining and expanding on hybrid healthcare delivery approaches.

These changes won’t replace the thought of a brick-and-mortar health care practice. But instead supplement them and make new ways to draw in and look after patients.

Pre and Post Pandemic Scenario

Pre-pandemic, most use of telehealth involved patients engaging with clinicians they might never see face to face. And certainly never follow-up with again. But Covid lockdowns changed that. Both clinicians and patients found that a lot of use cases sustained remote patient care via video quite well. And for a way broader set of use cases than previously attempted. Specialties have experimented broadly beyond urgent care visits for brand spanking new and existing patients. For instance, using video for medication adjustments, taking an in depth history for a replacement patient at a specialist practice, conducting pre- and post-surgical consults, and initiating physiotherapy protocols.

The Road Ahead

In the post-Covid ‘Roaring 2020s,” how patients will discover a practice and join a panel are likely to shift. Options for contacting a clinician, the way to buy their care, and what a patient encounters once they reach an office, will all matter quite ever. Two things will become more important:

  1. Virtual introductory options to recruit new patients,
  2. Direct pay options.
Telemedicine

Based on these trends, expect many practices to experiment with direct-to-patient care models. Including discrete fees for introductory video consults and/or subscription offerings for video and asynchronous (e.g. text or chat) access to the practice. Experts anticipate these hybrid models will grow and expand. Particularly as deductibles, copays, and other patient responsibility components continue to increase and practices compete more directly with practices that directly target these growing patient segments.

Conclusion

Telemedicine won’t revolutionize health care on its own. But the experience of many Americans during the pandemic assures us that it’ll become a permanent fixture of the healthcare ecosystem. One likely to account for a growing share of revenue in our $4 trillion health care economy. These changes are largely positive for clinicians and patients, and will lead to both improved access to the healthcare system and new ways for clinicians to generate revenue. For Americans who have grown familiar with the convenience of remote care, but need a durable relationship with a practice , the efforts of practices across the country to integrate telehealth will make sure that continues to be a reality.

Looking at the data and arguments it is quite obvious and safe to assume that telemedicine will continue to grow. And thrive post-Covid Pandemic and will be a New Normal. If you are looking to deploy a telemedicine marketplace now is the best time to move your approach from reactionary to strategic. Continue to build a competitive platform following current market trends and offering of course enabled by our robust and powerful panther platform to reach more patients.

Telemedicine will continue to grow and play a major role in a hybrid model of care that emphasizes treating patients where and how they prefer at home, on the go, or in-person.

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The explosive nature of direct-to-consumer business surely is turning many heads. Since more and more big brands are opting to sell directly to customers via online channels and mobile apps, it is a win-win for both parties involved. And that is the defining aspect of the D2C model of business because it only has two parties, the buyer and the seller. 

In simple terms, direct-to-consumer business involves you selling your products to consumers and completely eliminating any intermediaries in the process. We see this a lot nowadays, especially in the fashion industry – brands sell clothes, shoes, phones, computers, and much more. The fact that big names like Apple, OnePlus, Nike, Adidas, etc. are utilizing D2C is proof that it is a profitable mode of doing business.

In fact, in the last year, Nike saw 1/3rd of their sales coming from their website. This is largely due to the global pandemic that we are stuck in, but it is still business as usual for Nike. The fact is that the DTC brand example is the talk of the town because of how effective and reliable it is.

Go Direct to Consumer

Competition in Business

Ever since e-commerce sites such as Amazon, Flipkart, Myntra, etc. started providing the common folk with everyday items online, people have realised the convenience of shopping online. This has impacted retail traders the most. Retail businesses have had to take the brunt of online shopping mainly because they fail to offer the same discounts and offers that the big players can. The cutthroat competition in the market has had everyone vying for more customers. Going online has clearly been the best bet as we see many retailers launch their own apps and websites. The verdict is crystal clear, taking your store online is a must, but if you can target your consumers directly, then you have a sure shot at big success.

Why Go Direct to Consumer?

By choosing a direct-to-consumer approach, you effectively give your business a great head start. Some of the best advantages of D2C are listed below.

Building a Relationship with Your Customers

A D2C business deals directly with consumers, so chances are that you can interact with your customers more easily than before. With the possibility of receiving instant feedback in the form of reviews and ratings, you can reach out to customers personally to deliver better experiences. Not only does this build your brand reputation but it also ensures that you will have enough repeat customers.

Possibility of Data Collection

Let’s face it, customer data is a gold mine for any online business. With each and every order, whether be it from a past customer or a new one, your data repository gains much-needed addition. This data helps you target customers with personalised offers and promotions. Offering personalised experiences to your customers is a great way to ensure brand loyalty and earning goodwill. Most customers expect exceptional service along with good product quality. Therefore, personalised marketing ensures the best customer support.

Launching New Products with Ease

No longer will you need third-party platforms to announce new launches or festive season offers. Run your campaigns directly on your website and mobile apps and you can guarantee that you will receive the desired visibility and reach that you expect. 

Why DTC Brands Are Winning Retail?

A DTC brand is sure to succeed in the current climate. With the COVID-19 pandemic rendering retail stores moot, now is your chance to strike. The market is hot and is expecting more and more new players. You can see examples around you every day. The food industry in particular is thriving in an online-only market. Food is an essential item so it should come as so much of a surprise.

However, keeping in mind the work-from-home scenarios, you can anticipate what the market demands. For example, furniture sales have seen a sharp rise because people working at home require proper desks and chairs. The same can be said for home decor, appliances, coffee makers, and pretty much anything else people need to stay equipped at home. Clothing brands have enjoyed good business despite braving a pandemic because people’s love for clothes is never going away.

To establish your brand, you need to figure out what is being consumed and what is not being supplied enough. With an online-only selling model in place, you can be assured of bigger profit margins. This allows room for better marketing coupled with the right content strategy. 

Take Your Brand to the Next Level with TIger

Jumping into an online D2C business without prior experience can indeed be unfamiliar and overwhelming. With enough market research, you can learn what consumers want. On the online front, you need a platform that can do your work for you. Well, you’re in luck! Tiger by Jungleworks is a D2C website platform that can fulfil all your application requirements and then some.

If you want to take your brand to the next level, you need to capitalise with a good start. Tiger delivers on that promise with its multipurpose platform. Do more with less using Tiger. 

To start off, Tiger brings an easy-to-use website and mobile app that can be mapped with your product portfolio. With a website in place, your business can be officially on the market in no time. Additionally, rich features such as a fine-combed UI along with multiple gateways give the users an immersive experience. 

From a business standpoint, Tiger establishes a platform that can cover all your basics in one place. Sales, marketing, and service can all be handled right from the master website. 

  • With automated marketing, you can target customers with personalised ads. 
  • AI-enabled chat allows you to deliver seamless customer support 24/7. 
  • Reporting and analytics give you the impressions that your brand created and allows you to infer assumptions.
  • Customer reviews and ratings give you a clear idea about how your products are performing.
Direct to consumer brands -Tiger

Tiger gives a 360-degree holistic view of your business with its simple layout and user-friendly application. With the option of third-party APIs, you can always decide which other features you want to add to make your website fully equipped. Direct to consumer brands have it all made for them with the functionalities that Tiger offers. The best part is that it is highly affordable even for a small startup. Quick and sophisticated implementation by our experts ensures that you can go to market within a day. If you are looking for a personalised website and app that represents your brand the best, Tiger is the answer.

Conclusion

Keeping up with trends is absolutely essential to stay relevant today. In a competition-heavy market, the innovator is the one that always comes up trump. Online businesses are booming, so jumping on the bandwagon is a good idea but you will only be guaranteed success if you think two steps ahead. With Tiger, you get a clear jumpstart and you can be assured that you begin with an advantage over the others. Tiger has helped hundreds of brands launch their D2C websites, so they bring in the much-need expertise that your brand needs. Choose what is right for your business and always move in a direction that leads you forward. TIger is here to help you in your online journey. Book a free demo now!

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Gig Platform: An Introduction

Changing eras bring about new buzzwords in the market. The “Gig Economy” is no stranger to the trend. The dynamic wave of the modern working population has transcended beyond the conventional hiring trends. As we veer towards an economy that also prioritizes the time and flexibility of the new workforce, the value they bring reigns supreme. Not only does the gig economy benefit the workers, but it also helps employers save costs and amplify their businesses at greater speeds.

So, what is a gig economy after all? 

A gig economy facilitates an open market of job opportunities and short-term work assignments offered by companies to contractors and freelancers who render their services if or when required. The on-demand gig economy comes with increased productivity and efficiency for companies that conventional full-time employment lacked. With technology spearheading the breakdown of traditional ways of working, the freelance economy has thrived in the last couple of years. Moreover, the gig economy lets workers work from just anywhere. A Statista report shows that about 85.6 million people in the United States will be a part of the gig economy by 2027! Needless to say, remote working has become more normalized than it was before. With companies saving on rental and other on-site costs, the demand for professional freelancers has undoubtedly soared.

Gig platforms like Upwork and Fiverr are not new to the game. While people work their daily 9-to-5s, freelance work has become a way of fringe earning on the side. On the other hand, some choose to work solely as freelancers. Such on-demand talent platforms or gig marketplaces offer a collaborative space to freelancers/contractual workers and employers on the same plane.

Types of gig workers

The gig economy is a vast sphere of professionals offering a wide scope of services across multiple domains. McKinsey divides independent workers into four different segments:

  • Free agents
  • Casual earners
  • Reluctants
  • Financially strapped
Gig Economy Trends 2021

Upcoming trends to watch out for in the gig economy

Technology has pushed the world to go online. Many professionals all over the world prefer to choose the freedom and autonomy contingent work assignments bring to the table. As we progress into 2021 after a year of battling a pandemic, the transformation in the global workspace has been phenomenal. The employment statistics have swiveled with the gig economy witnessing changing patterns and trends in the market. Let’s take a look at how the gig workforce will be affected in the coming years.

Stigma surrounding gig employment will attenuate

People with steady full-time employment are usually commended more than gig workers. However, with changing times, this stigma and prejudice will eventually slip away. The notion of gig work always being the second choice of employment doesn’t hold anymore. To put a number against it, 61% of freelancers view freelancing as a choice rather than a necessity.

Gig platforms will be highly popular

As the freelance workforce continues to grow, the need for a stabilized and collaborative space will become the need of the hour. As gig workers will search for an integrated solution to find work with ease, employers will want to get in touch with qualified professionals without speed bumps.

The gig economy will be all-inclusive

The gig economy is welcoming of people with various capacities. Instead of expecting people to work during business hours, the gig economy offers a larger space for anyone to unleash their skills and capabilities. Freelancers also enjoy flexible opportunities for cross-functional displacement. With the right skill and/or passion, anyone can leverage the booming gig economy.

Build your gig marketplace with Husky!

Creating a gig marketplace from the scratch may sound like a task that needs extensive and unhindered investment, but not with Husky! Jungleworks’ talent marketplace builder Husky comes power-packed with plug-and-play features at your disposal. Husky is a sturdy end-to-end SaaS solution that can get you started with your freelance marketplace within minutes! However, if you wish to design your marketplace with added features, you can go with our Headless solution.

Your admin dashboard – Oversee every function of your marketplace from one single dashboard. Manage payments, commissions, seller activity, project categorization, and more!

High-octane apps and websites – Design dynamic apps and websites for your freelancers and seamlessly connect with them on Husky. Avail features like custom project search, payments, and more! With integrated live chat support, manage disputes and discuss projects with no hiccups!

What’s more in store? Husky comes equipped with hundreds of integration options, multi-lingual support, device-agnostic interfaces, and an infallible reviews system. Get in touch with us to build your Gig Platform.

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A freelance marketplace connects businesses with independent contractors that can perform some work remotely. Among online freelance businesses, websites such as Fiverr and Upwork (formerly known as Elance) have become very popular. Their service provides safe, convenient access to contractors for ad-hoc projects by providing a convenient and safe means for contracting experts remotely. A platform allows customers to find freelancers and agencies who offer a variety of services, including design, marketing, copywriting, and software development. 

Challenges with current freelance marketplace platforms

While freelance marketplaces have become the hotspots for gig workers to find side hustles, they come with their fair share of challenges. With less governance and control over the work, employers usually face conflicts with current freelance marketplaces. Let’s see how.

Not choosing the right professional

Freelancing is contingent-based work. Therefore, enterprises must find a professional who can deliver high-quality results within a deadline. For the end product to match with output expectations, a company needs to hire a qualified freelancer with a strong work ethic. Current marketplaces offer a myriad of options to choose from, which may lead the hiring process to run astray.

High charges and additional costs

Finding professional freelancers in a talent marketplace can be hefty. Hiring gig workers the conventional way may require you to pay a premium. Moreover, the seller’s quoted price may not correspond with the quality or the effort needed to complete the assignment. Having a personalized talent marketplace can help enterprises bypass the added costs and hire freelancers through a more standardized process.

Prevalence of fraud sellers

Some gig platforms in the market practice less control over their listings and service renderers profiles. This, in turn, makes room for possible fraudulent activity. Not every seller listed on freelance marketplaces offers genuine services, which can often result in employers getting scammed. For example, a service seller may demand payment through unusual routes or may commit identity theft. Staying clear of these rampant malevolent practices can be tough if you’re using a freelance marketplace. 

Commission charges

Freelance marketplaces are an attractive avenue to look for talent due to their cost-efficiency. However, most freelance platforms charge commissions that can eat into the costs you’re saving by hiring a freelance professional. This can make it impractical for companies to outsource work to freelancers and would rather have someone on payroll to do it since the commission charges often offset the savings that companies would otherwise enjoy.

Fake reviews about the sellers

A lot of freelance marketplaces are fiercely competitive due to the large number of professionals offering their services on the platform. Most platforms reward professionals with higher ratings and reviews by giving them more visibility and thereby more work. This could push a significant number of these professionals to fake reviews and inflate their ratings to seem attractive to potential customers. Companies who hire such freelancers are often left feeling disappointed with the quality of work delivered despite ratings and reviews seeming promising. It’s hard and might be impossible to tell fake reviews and ratings apart from legitimate ones. An internal marketplace for your company will give you control over the ratings and reviews, which can help you pick the right professional for the job.

Too many options to choose from

Most freelance marketplaces today are brimming with people looking for work, however, that’s a poor indicator of the quality of work delivered. People might bid on projects even though they might not have a background in them, or have the adequate skills to perform the tasks. This can leave customers confused with far too many offers to pick from and most of these offers aren’t worth the price. An internal talent marketplace can give your company control over vetting professionals to make sure they have the right skill profile for the services you require. Further, this can help you pick the best offers from verified, skilled professionals, saving you time and money without compromising on the quality of work.

Poor insight on past performance

Platforms that offer freelance services often lack a system that lets you gauge the performance of freelancers. Ratings and reviews posted by other customers can be misleading and irrelevant to your organization’s requirements. A talent marketplace custom-built for your company can help management take stock of how efficiently the freelancers can contribute to the company. Freelancers onboarded on your site will not only have the right skill set that you require but also be more familiar with the working of your company. This allows them to be better acquainted with the kind of results you expect and work towards delivering that. Better compliance with requirements and specific data points tailored to your needs will help you understand and gauge performance. 

Poor integration into existing teams

One of the major issues with freelance marketplaces today is the inability of remote workers to collaborate and integrate with existing teams working on a project. This leads to discord and a lack of coordination between people or teams working on the project and thereby reduces efficiency drastically. However, freelancers on your platform can help your teams integrate better with remote workers due to familiarity with processes and other company-specific ways of doing things.

Communication gap

Freelancers offering their services on generic marketplaces often face a communication gap with the client. The freelance professional will not be able to do their best if the platform doesn’t allow them to communicate with the client easily. This communication barrier can make it difficult for your work to be done as you intended it.S

Solution

Building a custom talent marketplace for your business is a great way to get more work done, faster and better. This can help your company save on precious time, money, and human resources while also being more efficient with the outcomes. Companies around the world are shifting focus to building a internal talent marketplace helping them achieve better results in tasks they have an aptitude for while relying on remote freelance platform to execute on-demand tasks.

 The pandemic has proven quite disastrous for businesses that failed to look for talent beyond their payroll. Hiring remote workers can help your business function even when your full-time staff is unable to work. A talent marketplace builder like Husky can help your business scale new heights in a matter of a few simple steps. Get in touch with us to find out how to go about building a custom freelance marketplace for your business.

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