How Services Market Place Helps You Build Your Small Business

With the evolution of technology especially video in the internet there are many new business models emerging in the internet. Services market places are very smartly using this video platform to promote this new business model. Like how Borat used you-tube to market itself, services market places are using video in a completely different way to promote themselves creating a win win situation for both service providers and service seekers.

As E-bay is for items, iGanit is for services. iGanit is an online auction market place primarily for services businesses. Consumers who need services can post their need for a specific service. Small business organizations(SBOs) that provide services can bid or offer quote and win consumers’ business.

Big corporations that offer certain services use TV advertising to invite consumer attention and get business. But do they deliver on what they promise?, everything sounds very rosy in the advertisement but when it comes to reality it is a different story. But there are SBOs who do a great job but do not get the attention they deserve. And SBOs don’t have that advantage of advertising instead have to use word of mouth to invite consumers’ attention and get more business. iGanit is primarily aimed at creating a level creating a level playing field by helping SBOs get more business using an internet based feedback rating system and consumers get the best bang for their buck and hence creating a win win situation for both the consumers and SBO.

By the same token SBOs do not have huge expense for TV advertising and hence can pass those savings to the consumers.

As any sales man knows, nothing is more powerful than a good referral by a satisfied customer.

iGanit helps SBOs to record those referrals @ [http://www.iGanit.com] and use those referrals as a tool to win more business. The more referrals an SBO gets, higher the SBO’s feed back rating is, the more reputed the SBO is and hence more consumers want to do business with that SBO.

iGanit predicts after looking at the evolution of online click and mortar industry that sell variety of products over the web, the same is going to happen for services industry. So for SBOs that want to make effective use of iGanit, iGanit recommends that SBOs’ make iGanit their primary front office and invest as less in physical infrastructure like physical office and primarily drive their businesses from [http://www.iGanit.com].

Terminology Service Seekers: Consumers – Anybody who need services, for example Bob needs to get his house painted. His home is a two storey home of area about 2400 square feet. He would like to find a service provider that can do a good quality painting job on his home for a nominal fee. Bob is a service seeker

Service Providers: People who provide that service, For example all the home painting businesses in Bob’s area

Service Need: The service that people need. Paint Bob’s home is the Service need here

Bid: Fee charged by service provider under method 2(invite bids) – Fee charged by various painting businesses

Winning Bidder: Service provider with the lowest cost to execute the Service need – Peach Painting Company

Quote: Fee charged by service provider under method 1(invite quotes) Fee charged by various home painting businesses

SBO: Small Business Organization

Detailed Description with an Example Bob can process his Service need in two different methods @ iGanit.

Method1-Invite Quotes – In this above example Bob visits [http://www.iGanit.com], registers @ iganit.com, pays a small listing fee and posts his service need explaining the service need in detail if necessary including photographs of his home. He also mentions any terms such as pay only by credit card and he also mentions a deadline – end date and time before which all the quotes need to be submitted.

Various service providers look at this listing and offer bids/quotes to complete this service need

Bob gets quotes from service providers, various home painting businesses. Bob also can see the rating of service providers. Based on the two factors Bob chooses the best service provider and does business with them.In method 1 quotes offered by various service providers are visible only to Bob, the service providers cannot see each others quote.

Method2-Invite Bids – In the above example Bob visits [http://www.iGanit.com], registers with iganit.com. Then Bob posts his service need explaining the service need in detail if necessary including photographs of his home. He also mentions any terms such as pay only by credit card and most importantly a deadline – end date and time before which all the bids need to be submitted. iGanit charges a fee to Bob as soon as a single bid is placed for the service need.

Bob gets bids from service providers various painting businesses. The bidder with the lowest value wins the service need and Bob does business with the lowest bidder.

In method2 the bids offered by various service providers are visible to other service providers and Bob. This will create competition among the service providers to win Bob’s business hence the service providers will lower the price to win Bob s business resulting in Bob getting the best deal.

Feedback Rating. Let us say Peach painting Company (  PPC ) won Bob’s business and  PPC  paints Bob’s home. Bob is very happy with the job that  PPC  did and hence Bob leaves an excellent rating for  PPC  in the website

Later consumers can look at  PPC’s  rating and may decide to do business with  PPC  even though  PPC’s  quote may be higher.

Directory of Service Providers – Service providers can also get registered and opt to receive e-mails whenever a new service need is posted in their category of business. PLC’s competitor Roswell Painting Company (RPC) heard about this  PPC’s  business with Bob and can register with iGanit to get notifications as soon as a Home painting service need or any other home related service need is posted so that RLC can also bid/offer quote to win business with consumers like Bob.

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