Entrepreneurs around the world have created social platforms like Airbnb, Etsy, Elance and Taskrabbit to monetize utilitarian services using social networks. However, all these platforms are focused to address niche/specific categories, for example Airbnb focuses on community accommodation, while Etsy and Elance are social marketplace for handicraft and freelancers.
Here comes enMarkit, a social networking based free marketplace to advertise service for micro-entrepreneurs, small businesses across multiple social networks (Facebook, Twitter, LinkedIn and Google). It’s a 3-minute 3-click online platform to allow online sellers to set up their virtual store in 3 minutes.
enMarkit allows users to create their profile page, brand your store, share reviews and transact with others. With enMarkit’s profile, users can list services they wish as much as possible about their requirements including details like period of service, place where they need it and budget. All users on the platform will be notified of the wish and hopefully multiple service providers will contact them shortly.
enMarkit enables sellers to create a listing on the site with three easy steps – login, or create an account on enMarkit. Then, click on ‘enlist’ button on the top, describe service in detail, upload pictures to create an online catalog and mention address. Later on,
enMarkit informs sellers by email notification every time anyone buys or request to buy their service.
For receiving payments sellers need to have valid PayPal account, however for service providers based out of India can also receive payments directly into their bank account through NEFT or RTGS and mobile banking (via IMPS). [Recommended read: Explained: Interbank Mobile Payment Services [IMPS] in India]
enMarkit transfers money to service providers only after they have delivered the service satisfactorily. After sellers have provided the services, buyers are reminded to share their feedback or review about the service quality and if buyer is satisfied with the service/product, the payment will be credited to seller account within 7 days.
The venture is founded and bootstrapped by Vipin Agarwal and Ekta Mittal. “As of now, more than 900+ hits a day organically with all traffic being generated through referral marketing and zero expense on advertising campaigns. Overall close 3000+ registrations with couple of transactions every day have started,” said Mittal.
Currently with a 15 member team, the startup is based out of Gurgaon. enMarkit earns commissions on every user transaction on the site. “We charge different tiers of commission on varying businesses services and geographical location of service providers,” Mittal said.
The typical commission that enMarkit charges is 15% which is brought down algorithmically depending on sellers transaction volumes / (positive) user feedback and number of referrals.