Last Updated: 10th March, 2021
Imagine you have just finished your graduation and you need some career advice. You turn to your parents, but they are not from the same field, and thus, unable to guide you properly. You want to get advice from someone from your field so that you know you are on the right path for a bright future.
When you fall sick, you visit a doctor. When your car breaks down, you visit a service station. But what do you do when you need some personal, professional, or relationship consultation? Nowadays, people are resorting to the internet for everything like shopping, ordering food, finding a home, finding a car, buying groceries. So, why not have a portal where people can seek consultation from experts!
Launching an Online Consultation Marketplace is a good idea for aspiring entrepreneurs. Focusing on bringing consultation seekers and consultants together on a platform, this business idea is an innovation in itself. FATbit analyzed the inside out of this business and created a guide for entrepreneurs who want to be part of this revolution. What follows next is a thorough discussion on the business model, revenue channel, and critical features of an online consultation marketplace.
As we mentioned earlier, the online consultation marketplace is a common meeting point between consultants and consultation seekers. The website has several consultants listed with their expertise, ratings, and other details which makes it easy for the consultation seekers to find consultants according to their requirements. The process is simple; the users just have to sign up and find the appropriate consultants for the problem they are looking to be solved. Depending on the target audience and niche market you can decide which all categories you want to add to your website.
The right revenue model for your online consultation marketplace will help you reach your business goals and sustain long-term growth. Below listed are some revenue models that can be adopted for your business.
Commission: One of the primary sources of revenue for the online consultation marketplace is commission. The consultation seekers are charged per session and the payment is transferred to the Admin account. After deducting the pre-decided commission, the admin transfers the remaining amount to the consultant.
Freemium: Consultants and consultation seekers can access the platform for free for a limited time and sessions, post which they need to purchase the monthly/ annual subscription of the platform to access the platform. The payment from the subscription fee is a direct revenue source.
Featured Section: Admin can opt to add a featured listing section on the platform to display the popular consultants in lieu of a nominal fee. Being listed in the featured section will give them more visibility and more clients.
Ads: Partner with the relevant businesses whose advertisements you can display on your website. These ads can be served by any third-party ad network like Google AdSense.
Business owners often find themselves in a quandary over which features to include in their online consultation platform. Below listed are some of the most pertinent features for increased growth and better client engagement.
Now that we know the essential features of an online consultation platform, it is equally important to understand which business domains this software is applicable to. There are several industries with a fruitful ground for consulting services. Here are some of the popular ones:
As the consultation market is growing exponentially, having an online consulting marketplace is a lucrative one. Yo!Coach is the turnkey solution that allows entrepreneurs to build their own online consultation marketplace. The software can be easily tailored to the personal needs of any consulting service and additional functionalities can be added as required. Currently serving a huge clientele, the software is in high demand because of the following features:
Bridging the gap between the consultants and consultation seekers, Yo!Coach is not only a powerful software but also the need of the hour that can help you start your venture with a solid footing.
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