Second: A feature rich service marketplace solution to quickly create and operate your platform
Cocolabs focuses exclusively on building marketplace solutions that sell services. Our undivided attention ensures a wide variety of features and the highest standards of customer satisfaction.
A service marketplace commercializes services offered by third party service-providers. It coordinates and validates transactions and acts as a trusted intermediary to ensure irreproachable and consistent quality.
In order to meet these requirements, we use Second. It offers more features than any other service marketplace solutions. Second offers 1,700 functionalities and 20 different extensions. This means that 90% of your needs can be met natively. What about the remaining 10% you might be asking? We take care of that. Our team at Cocolabs has almost 10 years of experience and has launched 100 marketplaces. We know how to create marketplaces that are fully in line with what customers want.
Second offers powerful user management features that are tailored perfectly for service marketplace solutions.
Customers are the users who will be booking services on a marketplace. You can either create an open platform that will allow anyone to make a booking, or you can restrict it to authorized users only.
You are the operator of your platform. Operators have the power to moderate listings, users and bookings. Operators can also follow all transactions and messages on the platform.
Vendors are the users who will be offering their services on your platform. You yourself can be a vendor, your employees can be vendors, or vendors can just be a third party who is using your platform as a marketplace.
Manage your profile to create your identity. Profile management enables users to state their languages, preferred communications methods, bank & payment details, bio, profile images, social profiles and to achieve additional verification levels (verified phone, ID, email…).
Know your customer and know your business (KYC/KYB) functions will be frictionlessly integrated into your platform. These functions will also dynamically adapt to each country’s regulatory requirements.
Natural and legal person management
Service providers can either be legal persons (companies) or natural persons (individuals). Cocorico offers the tools and streamlined workflows that allows for the seamless management of each type of user.
Privacy management and GDPR compliance
Second is a service marketplace solution that was designed for privacy. Second offers privacy features that protect user rights and streamline compliance operations incumbent to platform operators.
Service providers can synchronize the availability of their services in real time across all their calendars and yield management tools. Through the use of industry standard formats, synchronization with additional tools is often native, or it can be easily implemented.
Yield management & dynamic prices
Yield & dynamic pricing tools empower vendors to manage time-based prices in order to maximize economic output. Each service can carry specific pricing rules, such as variable prices depending on the date or time of the booking or dynamic pricing in relation to a surge in demand.
Time zone management
Matching and organizing services requires that each user’s time zone be taken into account. These features reduce no-shows at meeting times. As users travel and change time zones, bookings and alerts are updated accordingly.
Services are offered in industry wide time units. Hospitality offers bookings on a nightly basis, while most car rental companies will operate on a daily basis. Consultancy services, such as legal advice will instead operate on an hourly basis.
Service area coverage
Service providers can determine the area that their service covers through intuitive drag & drop tools directly on a map. This enables them to appear pertinently in search results, thereby providing better quality results to customers.
Marketplace operators often need to limit the geographic scope of their providers, either for strategic or regulatory reasons. Geofencing tools enable you to determine the areas in which you allow or disallow services to be offered.
Obfuscation tools enable your platform to display the location services are offered to users, without displaying exactly where you are located. This is achieved through marginal randomization of markers on maps, and by displaying offset areas rather than precise points.
Travel cost management
Performing a service at a client’s location can incur travel costs, either from the first mile traveled or starting after a certain distance has been covered. Calculating travel costs must be done by distance traveled, and it allows marketplaces to maximize the revenues of their vendors.
Built to close deals
Integrated messaging, file sharing, notifications, alerts, expiration delays, automatic translations, reviews, and rankings are all features that our booking engine offers. This set of features will help turn people who are interested into customers.
Adaptable booking workflows
Purchasing and selling a service online requires that workflows are adapted for each service. Cocorico empowers marketplace operators by allowing them to offer highly customized booking workflows that account for the specificities of each vendor and service.
Universal pricing policies
The pricing policy of each service will vary. Depending on the service, prices could be per hour or day, per service performed, per seat, etc. Regardless of what your pricing policy is, a fully adapted business logic is provided to vendors and customers.
Metrics made for services
Get a clear view of vendor performance, service statistics and customer satisfaction through the Cocolabs service metrics. The Second service metrics display the average service duration, vendor response times, deal closing rates, cancellation ratios, and much more.
Cocolabs creates service marketplace solutions that offer highly streamlined onboarding experiences for vendors. Designed primarily for services, the onboarding experience makes it easy for vendors to offer their services, regardless of if they are novices or experts at selling services online.
Moderation & curation
Marketplace operators have access to productivity tools that allow them to curate listings. These operate on top of global moderation policies, such as the requirement for listings to be vetted prior to being published.
Attributes offer a structured format for vendors to describe their services. They are also used to refine search results. Platform operators can define and update the attributes that are used by vendors easily and on the fly as their catalogue of services evolves.
Rich media management
Vendors can enrich their listings by adding media such as images, videos or PDF documents. This gives vendors the opportunity to engage more deeply with customers, and to offer a more complete presentation of the services they provide.
Searching by time & location
The stock count of a service is its availability over time in a given place. Customers can find available services reliably and easily, by sourcing availability in each service’s calendar, and by refining results within the desired geographic area. This is on top of habitual search criteria such as categories and attributes.
A calendar that is out of date or a vendor that does not have prompt replies to customers are precursors to poor performance. Search results rank vendors through 30+ criteria to determine which one has the highest chance of concluding a transaction with a customer.
Optimized for performance
Using specialized databases for each data set, search results are displayed instantly. This enables performance to scale up with your marketplace’s traffic and the size of your vendor base.
Designed for novice vendors and power sellers alike, the vendor dashboard helps manage messaging, bookings, listings, calendars, reviews and profile information amongst the many features provided.
Managing the purchase of a service is the heart of the customer dashboard experience. This includes sharing files, messaging vendors, following bookings and their statuses, reviews and following up on payments.
The operator dashboard streamlines moderation, curation and mediation of bookings, users, listings and transactions. Built to accelerate daily operations, the operator dashboard also offers powerful metrics, exports and filtering tools.
Commission based models
Charging a fee on transactions aligns your marketplace with vendors and buyers as the cost of your service is directly correlated with successful transactions. Calculated as a percentage or a flat fee per booking, the commission based business model adapts to most business cases.
Recurring revenues offers the ability for the platform to forecast revenues and for vendors to rely on fixed charges on their sales. Subscriptions can also be applied to customers in the case where they pay to access the catalogue of vendors on the platform.
Hybrid business models
Business models can be combined to generate different revenues from vendors and customers. This includes combining media buying models (cost per lead, cost per click…) with subscription and commission based models, which in turn can be differentiated depending on whether a user is a customer or a vendor.
B2B, B2C and C2C
In the case of B2B marketplaces, transaction rules are typically more sophisticated. For B2C marketplaces, workflows are adapted to the asymmetry between user types. Second ensures that business rules adapt depending on the relationship between vendors and their clients.
For the sharing economy and the business economy
Marketplaces need to dynamically adapt their onboarding process and booking workflows to offer highly customized experiences for each type of user. Know your Customer (KYC) and Know Your Business (KYB) procedures also adapt accordingly.
Demand driven or supply driven
Marketplaces are built around the relationship between vendors and customers. Supply and demand driven marketplaces each require specific models that deeply impact the user experience. Second offers dedicated solutions to create your marketplace, whichever the case.