Retaining Buyers and Sellers Is Easy, Right?

Retaining Buyers and Sellers Is Easy, Right?

Gemma Doswell

Copywriter at Paybase

Views 421

Retaining Buyers and Sellers Is Easy, Right?

12.12.2019 12:00 pm

So, you’ve launched your own online marketplace, gig economy or sharing economy platform. What’s next? You need to attract users and, more importantly, retain them. But it’s actually one of the biggest challenges for a platform business to overcome. A study found that the average lifespan of a platform business in the US market is less than 5 years, and even shorter in the gig economy where platforms collapse on average after just 2-3 years.

There can be any number of reasons for this but one of the most significant ones is disintermediation.


Disintermediation. It’s when buyers and sellers use a platform to connect but then transact independently, off-platform after the first transaction. Also known as network leakage, it’s a common problem, especially in the gig economy. Click here to check out our animation, where we explain exactly how disintermediation works and how best to avoid it.

But you don’t want to know the problem, you need the solution! Once you’ve watched our animation, scroll down to take a look at our top 10 tips to encourage buyer/seller loyalty and get ready to make your platform shine.

10 Tips for Retaining Buyers and Sellers

And don’t forget, if you want more from Paybase, scroll down to the form below to subscribe to our mailing list.

Latest blogs

Sonny Aulakh Pure Storage

How to support remote working without compromising productivity

As the need to work remotely continues to impact the daily lives of people and businesses around the globe, it places unexpected demand on IT departments. How do you transition supporting 30% of your workforce to work remotely to 100% in a matter of Read more »

Martijn Bos Holland FinTech

Making it through the rain: Finance in times of turmoil

You’d need to be living on a remote island, without electricity or internet to not be aware of what the world is going through right now – a medical crisis that has spread across the world and disrupted supply chains, goods and services production, Read more »

James Devoy Sysnet Global Solutions

PCI DSS and Remote Assessments

COVID-19 is obviously changing many aspects of daily life. Some will be short term measures to see us all through these times, although I wonder how many will become more permanent fixtures in our lives. The PCI SSC has provided guidance to allow Read more »

James Booth PPRO

Brave New World: A Futuristic Vision of Payments

Over the last ten years, the retail e-commerce ecosystem has undergone a wide-ranging transformation. As recently as 2010, the e-commerce and payments value chain were relatively straightforward: Any eCommerce merchant could integrate a payment Read more »

Nish Kotecha Finboot

How blockchain could potentially transform global healthcare in the wake of COVID-19

In the globalised world we live in, entities such as the World Health Organization (WHO) have been established to ensure cooperation between different governments on global health-related issues. In the face of pandemics such as the one we are Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel