Gigs marketplace in E commerce

The Insider on Gigs Marketplace for a Solid E-commerce Business Model

The next big thing in the world of e-commerce is the online gigs marketplace to book artists and performers. This niche addresses the issue in an efficient way as the event planners, party hosts, and performers had a tough time finding each other. Bringing the performers and seekers together and organizing the market, creating equal opportunities for both the involved parties and the idea is very simple.

Whether in the operations or in transactions, the ecommerce industry has always been all about transparency and in comparison to the conventional, offline methods, the online gigs marketplace also led to better and faster bookings.

The success of market players such as GigSalad and GigStart shows that these companies have found the pulse and have understood how to tap it the right way as the online gigs industry is relatively new.

Let’s dive in a bit deeper

GigSalad

GigSalad was founded in 2007 by Mark Steiner and Steve Tetrault. The revenue which they are earning is $7.3 million having Twitter followers of 6356 and Facebook followers around 29170.

It started with well-established artists and bigger numbers when Mark put his dream into motion. Mark aimed at minimum $5000 or above per gig and 10% of its commission. This was however meant more than this.

Asking if he could find a gig or an event for them soon as he started receiving signups from the local artists, bands, and performers. For the gigs, they were ready to pay commissions. GigSalad today is a $7.3 million strong company with more than 25% profit margin 11 years later.

GigSalad never asked for venture capital from anyone for a company that grows within its own means. To find a performing artist that suits their requirement, the company is constantly growing and has helped many event planners.

GigStart

GigStart was founded in 2013 by Atit Jain, Madhulika Pandey. The revenue turnover for them was $4.4 million. They had Twitter followers of 481 and Facebook Followers of 20621.

The result of realization is what GigStart is. Event planners and artists Atit and Madhulika had to make and receive an endless number of calls while looking for venues.

The duo decided to streamline the process and thus the road to GigStart started shaping up as the entertainers market was chaotic.

GigStart’s majority share which is 85% was purchased by Mumbai Based Kwan Entertainment and Marketing Solutions, a Mumbai based celebrity management firm 3 years after its inception.

Following a 3-step strategy is what the GigSart recommends the artists:

  • Getting discovered
  • Looking attractive
  • Getting booked

GigSTart has made a strong presence in India’s National Capital region with more than 400 artists in 17 categories. In the Asian and African continent, the founders aim to make a huge name.

The reason behind the success of GigSalad and GigStart

Merely following the business model is not enough while GigSalad and GigSTart have inspired many other startups of the kind. From the founders of these top shots, there are other lessons too which one can learn.

Before becoming an agent, Mark Steiner worked as a craft service provider. The day he launched GigSalad he already had major performers willing to work with him with prominent bands and artists in his portfolio.

Over a span of 24 years have helped him make a smooth start as the connections and relations he established. Steve Tetrault his business partner is a designer. It is all Steve when it comes to the website of GigSalad.

The same connections have also helped him grow through possibly the oldest marketing tactic or the word of mouth moreover.

Madhulika and Atit made sure their contrasting backgrounds become their strong suit at the same time. While Madhulika has an arts background and their diverse talents complement each other very well, Atit is an engineer.

With someone who has a talent different from yours that is the importance of teaming up. Bringing something new on the table becomes difficult if you and your business partners come from the same background. The founders of GigSalad and GigStart relied heavily on marketing while their varied talents had helped them to complement each other as they both knew how to master the business model to the core.

Online Gigs industry meeting the challenges

The major challenges which Madhulika and Atit faced were the scattered market of artists. Things seemed to run in a haphazard manner as there was no order. Bringing the maximum possible number of artists and performers on board and streamlining communication is what the challenge was.

As the artists were not listed on the yellow pages and many of them used to go off the radar whenever they felt like, the latter was a major challenge.

The high price due to the involved agencies, managers, and other middlemen was the other challenge. For the talent agencies marketplace was not the one.

To the event planners and party organizers, bringing the freelancers close was the core idea. Charging a nominal fee for each successful transaction, Mark stopped being an agent and became a connecting dot.

Growth Prospects for Gig Marketplace

For success, the industry paints a bright picture with a huge scope. Event Peppers, GigMasters and Gigmor are some of the other names which are doing great apart from the key market players whom we mentioned above.

In the entertainment industry, the utility and popularity of events point to the growing needs of the performers and the artists. On this need making huge profits while helping event planners and performers find an organized market to earn for companies like GigSalad and GigStart.

The numbers of smartphones based ticket shoppers are increasingly consistent although computers remain the preferred device for people to buy tickets.

To run Gigs Marketplace for Event Planners & Artists is Mobile App required?

If you do not want your business to grow and maximize its reach, an app is not required. An app is a useful addition to your arsenal in any other case. The mobile app packs a plethora of benefits from offering mobility to instant access to better retargeting.

The question would be what kind of app should you go for and not whether you require an app or not.

Your budget, the stage of your business and your traction in the market are the three primary factors which should be the basis for making your decision:

Native Apps

The native apps offer amazing speed and reliability developed for a specific mobile operating system. Reaching out to your marketplace users are made easier through the push notifications.

A good amount will go for you to create individual apps for different operating systems and as the operating system which you are looking at you also need many codebases. When you have a huge audience and you are absolutely sure about your app’s success, then only go for it.

Hybrid Apps

For multiple platforms, these hybrid apps are built and are easier to manage and can be scaled for any OS.

On the performance front, the hybrid apps do not do so well. When you do not know how your app will be received by your audience they are an ideal option.

They are not as pragmatic as a permanent viable solution as it is good as a test run. To see which one suits your budget and needs the best before finalizing on either of them do a native v/s hybrid app comparison.

Progressive Web Apps

PWA can be assessed through any browser from any smartphone as a web development approach gives a website the same interface an app would have.

The PWAs are gaining popularity among business owners as well as the end users as they are considered to be the future of mobile apps.

Building Practical and a Salable App

A light, speedy and easily navigable design is what all apps need to have. The online performers booking app should also be able to establish an artist’s credibility apart from the essential nitty-gritty such as online booking and ticket purchasing features.

  • The video content should be handled by the app effortlessly
  • Things run even better when people can see their performance and also a review help in a great deal in establishing an artist’s credibility.

Provided that the research and analysis are not limited to just getting the business model right as building an online gigs marketplace could be your best decision. You need to decide what all features the marketplace app would have.