product-pricing

This story was originally published on HackerNoon at: https://hackernoon.com/how-to-increase-marketplace-commission-a-real-story.
A real story and step-by-step guide on how to increase commission on your marketplace without disrupting business model.
Check more stories related to startups at: https://hackernoon.com/c/startups. You can also check exclusive content about #startup-advice, #entrepreneurship, #product-pricing, #pricing-strategy, #marketplace, #startups, #business-development, #marketplace-comission, and more.

This story was written by: @notarseniy. Learn more about this writer by checking @notarseniy's about page, and for more stories, please visit hackernoon.com.

This article discusses the strategies and considerations for effectively raising commissions in a marketplace, using the case study of Radar's driving schools marketplace in Eastern Europe. It covers understanding seller economics, assessing the marketplace's needs, determining the new commission rate, communicating the change, implementing the increase, and the impact of doubling the commission rate. Thoughtful planning and clear communication are emphasized as key factors in successfully adjusting commission rates.

This story was originally published on HackerNoon at: https://hackernoon.com/why-you-shouldnt-be-scared-to-increase-your-marketplace-commission.
In this article, Arseniy Maximov, a serial entrepreneur and marketplace builder discusses why and how to raise your marketplace's commission.
Check more stories related to startups at: https://hackernoon.com/c/startups. You can also check exclusive content about #startup-advice, #entrepreneurship, #product-pricing, #pricing-strategy, #marketplace, #startups, #business-development, #scaling, and more.

This story was written by: @notarseniy. Learn more about this writer by checking @notarseniy's about page, and for more stories, please visit hackernoon.com.

Raising commission rates in a marketplace can be a daunting decision, but it can also bring numerous benefits. Adjusting rates based on initial estimates, responding to economic changes, funding platform enhancements, and preparing for future growth are all valid reasons to raise commissions. Addressing fears of losing sellers, initial backlash, competitive disadvantage, and transforming the challenge into an opportunity are crucial in successfully implementing this change. In this article, Arseniy Maximov, a serial entrepreneur and marketplace builder discusses why and how to raise your marketplace's commission.