Add iOS & Android apps to your marketplace

Intro (0:00)

Is it a good idea to add mobile apps to your marketplace? So an Apple app and an Android app. Let's discuss it.

The 30-second test: acquisition vs retention (0:07)

Here's the 30-second test for whether you should add a mobile app to your marketplace right now. Is your problem getting new buyers, or bringing buyers back?

If it's new buyers, so the acquisition side, then new buyers come from Google, social, word of mouth and so on. An app store search will not bring you new buyers. When you search on the App Store, the biggest ones come up, like Etsy, Amazon and so on. Nobody will find you there. So no app yet - spend your time on supply and demand.

But if your problem is getting buyers back, so a retention problem, then an app is definitely a retention tool, and an app can make sense. In just a second, I'll show you the three signals you should look at to decide if you should add a mobile app to your marketplace right now.

Why an app is not an acquisition channel (0:58)

Let me just prove this. I'm here on the App Store, and I search for something like "vintage watches". You can see that it's mainly the bigger ones that come up. Chrono24 is a big marketplace, I think they're from Germany. There's eBay down here. Many of these are already huge. So if you make a new mobile app for a new marketplace, it's very hard to get new buyers from here. But again, if you have existing buyers, so if it's a retention problem you have, it still makes sense.

If I then make the same search on Google, so "vintage watches", you can see that some of the same ones come up, like Chrono24. But when I click on it, it takes me to their website, not their mobile app, of course. So this is what makes sense to focus on, because this is where you get new buyers: search on Google, social, basically the acquisition area, not the retention area. But if you have a retention problem, then it still makes sense to add a mobile app.

When you do NOT need an app (2:04)

Let's make this even more concrete. You do not need a mobile app for your marketplace if:

• You are pre-launch or early. Your job is basically to get supply and demand. First get sellers, then get buyers, get the flywheel running. An app adds zero new listings and zero buyers.
• Your buyers only purchase once. They find you, they buy, and that's it. Then you don't need a mobile app, because the download itself is friction.
• Your growth comes from search, so from Google-indexed pages. Then no app screen is needed, because every app hour you're working on is an hour off from what's already working.

And a free move instead: save your website to the home screen. That's the easy thing all your buyers and sellers can already do. And if your buyers won't even do that, they're never going to download your app anyway.

When you DO need an app - the 3 signals (3:07)

So when does a mobile app make sense for your marketplace?

• You have repeat purchases. Consumables, collectibles, rentals, bookings. Then every extra return visit equals direct revenue for you.
• Your marketplace runs on conversations. Messages, offers, booking confirmations and so on. A mobile app makes that smoother. An email seen three hours later versus a push notification on your phone - that's a big difference.
• Your existing audience is a community that identifies with you as the founder. Then your icon on their home screen equals a badge of belonging.

So overall: if two of these three signals are there, then yes, add a mobile app, because it will be a huge retention machine. If not, then you should not make a mobile app for your marketplace.

Why push notifications are amazing (4:20)

Just so you know what I mean by push notifications: if you have a mobile app, you receive push notifications, and they're even seen on the lock screen. You get a new message, you get a new order, and so on. That's not possible if you just have a normal website for your marketplace. But if you have a mobile app, so an iOS app and maybe also an Android app, this is possible. And that can be a huge advantage for some marketplaces, like a booking marketplace, or a marketplace where buyers and sellers send a lot of messages to each other.

How it works on Prometora (5:09)

The cool thing about how it works on Prometora: if you add mobile apps, so an iOS app and an Android app, to your marketplace, it's not three separate storefronts you have to take care of. Every time you add a listing, or your sellers add listings, update prices, or you as the marketplace owner change the design, it's updated automatically, instantly, on all three. It works the same way as your web marketplace: you update it from there, and right after, it's also updated on your mobile apps.

Adding a mobile app to your marketplace also only requires around one hour of your time. We quickly talk, and then all you basically have to do is set up a developer account on Apple and on Google Play. On Apple it costs $99 a year, and Google Play is $25 one time. Then you just invite Prometora in. So it's still your app, we're just invited in, and we set everything up for you. Within 2 to 4 weeks, you're ready to go live with your mobile apps.

Outro (6:40)

If you'd like to add a mobile app to your existing Prometora marketplace, please let me know and we'll get it up and running as quickly as possible. And if you're new to this channel and interested in building an online marketplace, go check out prometora.com. There's a 14-day free trial.