Most Important Component of Rental Marketplace Platform
Rental Sharing is the most inspiring business model for many entrepreneurs and they are very determined to start a business like Uber, Airbnb, and Lyft. However, the entrepreneurs are not aware of choosing the appropriate features for their rental marketplace platform. In this competitive market, engaging user experience with suitable features is the most important thing to sustain. To help the entrepreneurs out there, I have pointed out the necessary features that should be inbuilt in the rental marketplace platform.
Must-have features for a rental marketplace platform
Adding a suitable set of features not only increases your customer engagement but at the same time, it also helps you stay ahead and stand out from the crowd. The biggest challenges are to use a rental marketplace platform with interactive features that engage the customer completely. So what are the features that must be inbuilt to boost revenue? Hence I have explained to you in detail about some prior features of rental marketplace platforms,
- Advanced search and filters
- Calendar availability
- Secured payment gateway
- Google map integration
- Smart notification
- Analytics
- Ratings and reviews
- Security for Ceaseless payments
- Online assistance
Let’s see in detail about how it is useful in rental marketplace platforms,
Advanced Search and filters
The advanced search filter is necessary if the marketplace has an abundance of services to offer. Users cannot skim through all of the listings in a short span of time. They should be able to search for the desired item according to their wishes. This feature can help the users to search according to location, and also date, etc.
Calendar availability
In rental marketplace platforms, manage the listings is a tedious process. It enables the provider to make their service available or unavailable for certain days so that the renter can select and book according to their convenience. It makes more helpful for both the provider and also renter.
Secured Payment gateway
The online pay eases the entire payment transaction. The users may be in any part of the world and prefer an effortless payment system including credit card, PayPal, net banking, or digital wallets. The feasible payment option provides a hassle-free environment to the users. It makes the user experience more convenient and also secure payments.
Google map integration
Navigation is the most important feature consideration when having an online marketplace. It tells the user about the exact location of the service provider and also the route to be taken by them. It makes it more convenient for the user.
Smart notification
The notification feature is essential to make the rental business successful and also profitable. This is one of the undeniable features incorporated in the online marketplace. Informing users about replies, messages, and other activities is quite important. It also keeps the user engaged, promote personal interaction, and also smooth processing. They can easily be notified about special offers, discounts and also it makes the marketplace more convenient and functional.
Analytics
Having an online business is not only delivering superior user experience but also generating consistent revenue and also keeping customers clung to their business. It assists to satisfy the motive by offering a clear insight into session time and behavior. This feature helps to make better decisions, updates, and also leads to high revenue rates.
Ratings and reviews
It is impossible to forego without this feature because nowadays most of the decisions taken by the users are data-driven. This feature helps the user to express their feedback based on the service provided by the provider. It helps build trust among the service provider and also the renter.
Security for Ceaseless payments
Security has become the top concern for any online marketplace. With personal data being at risk of loss, customers and vendors will not feel confident about joining your marketplace. For modern marketplaces that process payment details of the customer must comply with encryption practices such as SSL certificates. It maintains a secure connection and also strict data protection which builds trust in your marketplace.
Online assistance
Chat support is the most significant feature that should be added to your rental marketplace platform. The user tends to rush to customer support at the moment of need. They mainly prefer knowing about pricing and also booking. Focusing on both buyer and vendor is necessary to shape a transparent and personal way for them to interact. Adding the live chat helps to build an ongoing relationship and pave the way for loyalty, trust, and regular customers. This is why it becomes essential to add the feature of live chat or 24/7 hotline for your own marketplace.
Winding-up
I hope that you got some clear ideas about important features that should be in the online rental sharing platform. Also, While building such kind of rental marketplace platforms, you should always keep the customer in focus as they are the ultimate drivers of the growth. Study the user behavior, identify their needs, and provide a better user experience. If you have any questions regarding the development of the online marketplace, feel free to drop a mail to support@radicalstart.com. Our experts will get in touch with you.
