What is the biggest challenge for Letgo clone ? - PowerPoint PPT Presentation

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What is the biggest challenge for Letgo clone ?

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Many experts are cracking their heads wondering how letgo clone makes money if they don't take commissions from their users. Another interesting fact is that they don’t even force their users to transact money using the letgo clone. – PowerPoint PPT presentation

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Title: What is the biggest challenge for Letgo clone ?


1
What is the biggest challenge for Letgo?
2
  • While Airbnb Uber are believing that Letgo has
    empowered its users with this simplified business
    model. Lets look into the business model canvas
    of Letgo for taking the clear view.

3
  • Value propositions
  • Users and buy and sell used goods
  • Chat with each other
  • Featured listing feature for quick selling
    purpose
  • Customer relationship
  • Assistance through the website
  • Self -taught

4
  • Customer segments
  • Sell old goods
  • Buy old goods
  • Chat in the platform
  • Negotiate in the platform
  • Buyer should pay the seller offline
  • Revenue streams
  • Revenue from ads
  • Revenue from bump ads

5
  • Unlike other online classifieds platforms, Letgo
    has made everything else will fall in its place
    without complicating the structure.
  • A great lesson from Letgo is that putting up an
    ad should be not be complicated. Letgo redefined
    the digital ads platform with its image
    recognition. All a user need to do is to upload
    an image and the AI recognizes the product and
    tags it under the relevant category.

6
  • The real challenge for Letgo at the moment is
    tackling the social networking giant that is
    introducing a new feature where its users can buy
    and sell products through socializing.
  • There is no fact that Facebook is having more
    active users than any other apps. And the concept
    of introducing marketplace is a hit, a minimal
    hit to make it sound more general.
  • Letgo has managed to raise its number of users
    than craigslist and sustained its reputation
    through the traditional marketing practice.

7
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8
  • While Letgo took the long road and scrapped the
    efforts of other classifieds platforms, Facebook
    did it reversely. Or to be honest, Facebook
    already knew that the marketplace will nail the
    shopping concept. And it was right. By knowing or
    knowingly the Facebook used the reverse marketing
    concept.
  • The point that Facebook has highlights like
    groups and communities making the high road
    eternally so painful for how does Letgo will
    sustain this market. And its groundless to say
    that they also dont need to bother about their
    investments.

9
  • While this was the major challenges for Letgo,
    it also happened for it to meet its soul
    competitors. Popularly was known as Letgo clone
    or online classified businesses like Letgo. These
    type of companies did not imitate Letgo but they
    were inspired and established their online
    classified business using Letgo clones that are
    available in the market. Though Letgo clones
    purpose is not to replicate Letgo but to provide
    pathways for organizations that can use these
    clones to simplify the procedure.
  • While talking about the Letgo Clones will be a
    vast subject which we dont want to do for now.

10
  • Do you know what stood as Letgos backbone?
  • It was monotony innovation that won the
    campaign for Letgo against counterparts. And with
    challenges like these Letgo can overcome this
    too.
  • See the pattern?

11
  • What do you think?
  • My general opinion is If youre willing to
    create a classified business you should always
    research your competitors. This process is not
    something you do in the beginning or at the end.
    This must be an ongoing process, where you can
    analyze more about your company. This will also
    helpful while creating a unique selling point for
    your business.
  • Please share it with Appkodes Joysale.
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