Business ideas & future opportunities : Classified ad business
Advertising denotes a proven approach focusing on enhancing the visibility and reach of any particular product or services. Online advertising has gained immense traction as numerous businesses start migrating to the digital dimension. Classified ads soon became popular as because of their affordable advertising options.
Future Possibilities of Online Classified Ad Business
The success of Craiglist, Gumtree etc catalysts the entrance of new businesses into the niche. Now, in India alone, the classified market is expected to reach INR 195.3 billion by FY ’2020. Moreover, it is predicted to grow at a pace of CAGR 24% during the forecast period FY’2016-FY’2020. Moreover, the tech Giant, Facebook has surprisingly launched a classified ad marketplace recently, which is expected to take on Craigslist and the market for newspaper classified advertising as well.
Advertising has become an important part of any businesses. Especially in digital businesses, advertising is considered as one of the most effective methods to improve your exposure and online presence. Similar to all other businesses streams, classified ads business has also opened themselves to the change in technology. Below mentioned some key approaches that might help you secure your future in the classified ad industry.
- Personalize your classified ad platform for maximizing efficiency
- Integrate social recommendations
- Smarter search and organization
- Focus on localization. Users like to purchase from the neighborhood
- Keep your website load time less than 3 seconds
- Above all, constant focus on your goals and requirements are mandatory
Automated Advertising: The future Ready to Unfold
The world now is so obsessed with the efficiency and perfectionism. We seek perfection beyond human abilities, this gives rise to machines. Many of business streams have already embraced this concept of automated functioning. Online classified ad solution is not an exception as well.
How does it work?
The automated approach has already been implemented in few many industries. Recently, we have seen robots performing surgeries as well as giving other medical assistance. As for now, there are two distinct ways through which advertisers are automating their advertising efforts. They are,
- Monetary based algorithms
- Ad-performance based algorithms
How does it Influence your Business?
Automating your classified business can create a great impact. These algorithms can optimize your online ads to create the highest CTR for your ads. It can reduce CPC (cost per click) and save you money on the top end. Most importantly, you don’t have to be afraid of losing your money in advertising. You can use a use a monetary based algorithm to change your bids to achieve your desired ROI.
Starting a Classified Ad Business- Steps to Follow
To make a fortune out of a classified ad solution is not so hard as many believe. Below given a specific set of guidelines to leverage the full potential of your business.
Choose an Untapped Niche
This denotes the most important factor. To find a niche that is less explored but still has enough visitors or engagement is the first thing to accomplish. In fact, to compete with the big fishes in the pond can be disastrous. As an entry-level business, one cannot afford to challenge the competitors like Craigslist and all. This makes the niche-focused approach the best possible choice for a beginner in the classified ad business. You can either choose a particular region or even a keyword, and you can outrun those market leaders one at a time.
Set Up an Excelling Classified Ad Platform
A Platform or website is where the customer initiates and completes their operations. It can influence the decision making, in fact, the whole business process. There is a multitude of factors one should consider while developing an online platform. From the UI to the SEO part, everything is crucial and one can’t allow any flaws to occur during these process of development. However, building a classified ad platform from the scratch can be hectic. You have to spend a considerable amount of money, time and effort to make this happen.
Drive Traffic to the Website
This typifies the core SEO concept. Building an efficient platform is not just enough. Without targeted traffic, the platform is useless. Implement effective marketing strategies, promotions etc to enhance the online presence.
Monetize the Platform
Once you have some traffic on your platform, you can try making some money out of it. Featured ads, membership packages, banner ads etc are the few among the many ways to make some money from your classified ad business.
Related blog: Business & Revenue Models of Classified Ad Business
Ready-made Online Classified Ads Solution- Quick and Easiest Way to Set Up a Classified Ad Platform
The easiest way to deploy a customized classified ads marketplace is tailor-built solutions. Agriya, one of the most reputed software development company has recently introduced an excelling online classifieds software, ideal to set up a complete ad platform right away. This facilitates entry-level businesses to deploy the platform quickly, thereby eradicating the possible development challenges such as extended production cycle, extra cost, resources and so much more.
Online classified ads are known to be very effective in extending the customer base and reach. This attracts more businesses and service providers into the classified ad scenario. The business possibilities associated with this particular niche are nearly limitless as well. The only thing that makes the difference is how efficient and result-focused your business is, and how updated you are in terms of market and technology.