How I Raised $250k
8trade - a no-code builder for B2B online marketplaces, co-founded and designed end to end through to a $250k raise.
8trade helps create and maintain online marketplaces, without any coding skills or IT knowledge.
Users have the flexibility to tweak various marketplace settings such as visibility, category tree, subscription plans (integrated with Stripe), and more. The admin has the power to prioritize the settings that are most crucial for their marketplace, and 8trade offers a user-friendly web tool for managing them.
All of this is presented in a modern and sleek interface, designed to meet the B2B requirements of users across different age groups.
All About the Idea
We all recognized that trust is the foundation of any successful business, and we made it our top priority right from the start. Our mission was clear: to provide a simple solution that harnesses the power of business communities.
Together, my team and I set out to empower these communities by creating a modern tool that automates everyday trades of goods or services. Our goal was to support community owners in monetizing the valuable liquidity that had been fostered within these business societies.
Empathize
In the pre-product phase, we conducted over 40 interviews to ascertain how potential customers support their existing business partners in finding new deals. We also explored how they manage their existing communities and what budgetary considerations they have for potentially developing their own customized tools. Through this research, we identified a common pattern that emerged.
Problem or (even) Problems...
Many trading communities face challenges in setting up and maintaining their own online marketplaces. They often lack technical knowledge, resources, and have tight budgets. This poses a significant barrier for entrepreneurs and small businesses within these communities who could greatly benefit from an online presence and reaching a wider customer base.
The traditional methods of building an online marketplace require coding skills and significant financial investments, making them unattainable for these communities. As a result, they miss out on the potential opportunities offered by the digital economy and struggle to grow their businesses.
User Persona
We synthesized our research into clear user personas representing the non-technical community owners and small businesses we were designing for - capturing their goals, technical comfort, budgets, and the barriers preventing them from launching an online marketplace today.
Competitive Analysis
By conducting a thorough analysis, we carefully assessed the strengths and weaknesses of our competitors in the market. This exercise gave us valuable insights into how our product stacks up against existing services and revealed a unique opportunity for us to fill a specific gap.
It became evident that our goal was achievable - to bridge the gap between user-friendly marketplace builders available to customers and the ambitious vision of B2B needs, packed in an easy-to-use product.
User Flows
By diving deep into interviews and conducting thorough user research, we've developed multiple user flows that put non-technical users at the forefront. These user flows have allowed us to visualize the step-by-step processes within the application, making it easier for users to accomplish their tasks smoothly and effortlessly.
Low-fidelity Wireframes
First visual representation of the marketplace builder. Developers could get a first understanding of the functionalities of the final product. We produced 80+ screens.
High-fidelity Wireframes
Hi-fi mockups captured the look and feel of the product in a much more advanced way. The goal was to create a user experience that delivers a cohesive and well-designed experience.
Home Page
The objective was to create a compelling and informative landing experience for a SaaS that effectively communicates the value proposition of our platform. The clear call to action and user testimonials helped build trust and encouraged visitors to take the next steps.
Usability Testing (Key insights)
- We ran remote usability testing sessions with younger beta testers, allowing them to try the product on their own and provide their insights.
- We also conducted guerilla testing in a few locations with older B2B clients, getting their perspectives on the product and how it aligns with their needs.
- Additionally, we performed first-click testing to observe how easily users can find the desired actions and navigate the product's "happy path."
The design thinking behind 8trade has ensured not just an optimum product-market fit for developed markets, but more importantly for us, suitability for Africa's burgeoning e-commerce opportunity. This has made aligning our Free Trade Zone (FTZ) go-to-market strategy with 8trade seamless and affordable. Through this partnership we seek to unlock customer-centric value on the back of future-proof innovation and technology.
Namatirai Zinyohwera — Free Trade Zone Founder
