• About
  • Advertise
  • Careers
  • Contact Us
Tuesday, July 1, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home How To

Navigating Virtual Market in an African Context, by Babatunde Adekanmbi

by Techeconomy
January 31, 2022
in How To
0
UBA
Advertisements

The global impact of technology ever since its inception has brought about a lot of positive impact though coupled with some negative effects but we can’t downplay how it has facilitated developments across all facets of life.

The issue of virtual market navigation particularly in an African context is one of the results of technological impact in our current disposition today.

First, we  need an  understand  of what virtual market is all about, it is marketplace based on the internet where numerous companies execute economic transactions.

The virtual market is an advanced development of the traditional way of marketing, although people are still going by this modality on small scale  but business owners and Corporate Organizations have adopted the use of  Virtual market to enable more sales and customer engagement.

It’s imperative we understand the mode of operation of a virtual market for optimum maximation. It is not relatable to the existing  e-commerce sites that entails businesses selling their own products through a website, virtual marketplaces are where third-party sellers can transact businesses (also known as e-commerce marketplaces), such sites may feature individual traders, large-scale manufacturers of goods, or anything in between.

The third party sellers are known to be the retailers, small business owners, enabling them reach virtually to the final consumers in different jurisdiction at a specific period of time.

The following tips highlighted below will give an insight on how to navigate a virtual market particularly in an African Context

Research your target market

Knowing your target audience is a prerequisite to enable you navigate effectively, you need to understand your target audience, you can do a demographic framework, age groups, gender, location etc. Learning from existing businesses relatable to what you do will help out. This will Facilitate sales engagement, customer satisfaction.

Design your marketplace operations

Marketplace operations entails working hours, payment operations, delivery time that needs to be setup and getting your customers informed.

It gives your potential customers a sense of direction when transacting business with you. They are able to plan this in their schedule whenever they choose  to patronize your brand or business

Choose the right business model

Having the right business model is a veritable tool for navigating the virtual market. It gives you a sense of responsibility and direction.

It is the overall framework that keeps your business operations in Check on the Long run. Your customers will be willing to transact businesses With you because you have a model that is operational and it gives no room for compromise. Both parties key into the framework since it’s available.

Select the right marketplace software

Having  the right software for your marketplace  is equally important, whether you’re considering the use of social media platforms, email marketing tool or website for customer engagement. It equally aid swift Communication between you and your customers.

The market research you have done will enable you know which platforms your potential customers are used to

Outline the essential marketplace features

Having an outlined feature for your marketplace is an enabler in making your potential customers decide to transact business with you.

It should entails features that are user-friendly , that  gives an overview of what your services and products  entails. Integrating the right features will Facilitate More sales to your business or enterprise

Choose a marketplace payment solution

Payment solutions are applications setup to facilitate payment of goods and services. It’s important you make use of a payment solution that will be easy on the part of your customers, with  less Technical issues and good Internet services.

Your customers may be deterred from patronizing you continuously if your payment solutions are not user friendly or easily accessible

Assemble a great team

You need to setup a team of high quality professionals, your team members should be knowledgeable about the type of business you operate.

The success of your business would be as a result of the attitudinal response of your team members to your customers. Their ability to understand the concept of your business enhance the growth of your business

Build your marketplace platform

Build a marketplace platform that your customers can trust. This can only be achieved if your customer service is swift, reliable and readily accessible, ensuring your customer queries are attended to in an ample time.

A platform that is responsive where you can resolve customer queries faster without physical visitation of the customer to your business location would also be of great help.

Loading

Advertisements
MTN ADS

Author

  • Techeconomy
    Techeconomy

    View all posts
0Shares
Tags: Babatunde Adekanmbivirtual market
Techeconomy

Techeconomy

Next Post

Angola Cables, only Local African Operator in Top 100 CAIDA Global Rankings

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Musikilu Mojeed - IPI Nigeria President

IPI Nigeria Appoints Idris, Garba Shehu, 25 Others to Committees

3 months ago
PC industry

PC Industry Facing Third Year of Decline; Revenue to Drop by 0.5% to $219.2B in 2024

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.