By Filip Balun, Head of Growth at TalkJS
November 18, 2022
In the last couple of years, real-time messaging has become an integral part of many online marketplaces. Not only does it improve logistics between buyers and sellers, but it also plays a role in preventing disintermediation, so-called 'platform leakage'. According to the Forrester report on online consumer behavior, messaging could also help lower the abandon rate of online purchases.
"Fifty-five percent of US online adults are likely to abandon their online purchase if they cannot find a quick answer to their question."
– Excerpt from the Forrester report
We agree that adding real-time chat and moderation improves the buying experience. Sellers can support their customers on the spot, and administrators can moderate the environment to build trust across the marketplace. And with a better UX, we could get more transactions.
A lot of marketplaces still have contact forms instead of chat. Buyers need to leave an inquiry by filling out the form, and an email is sent to the seller. It's far from what users today expect from an online experience. They want to get their questions answered right away.
Often, one of the users is offline or just not using the marketplace at the right moment. If they receive a chat message, they usually get notified by email, visit the website, and respond there. Although, in some chat systems, users can respond by replying to the email notification. Making it possible for users to chat by using email even when not on the platform. The messages land safely back into the chat.
Without chat and conversation monitoring, there’s no way to prevent disintermediation from happening in your marketplace. It’s best to track a hefty list of keywords that could point to misconduct. And also stop users from sharing contact information like phone numbers or emails. It’s something you need to stay on top of – all the users doing deals behind your back.
"Marketplaces are built on the foundation of trust."
Mike Williams makes a good point. Trust between the supply and demand sides is at the core of every thriving marketplace, especially in B2B, where larger deals are happening and just one user misbehaving can ruin the trust of a supply-side company. You want to be on top of it with tools like Marketbase. It gives you a 360° view of all conversations and the ability to moderate any interaction.
If you are a TalkJS customer, it’s surprisingly easy to start using Marketbase to monitor and auto-flag messages being sent through TalkJS. This is done through a simple no-code integration and only takes a few minutes of configuration to get started. In case you need to integrate TalkJS, it’s best to use this getting started guide.
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