How to Create a Successful Online Marketplace w/ Ed Vincent

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By Live Your Edge Podcast and Gilbert Joa. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

He created a Marketing tech company and had data consultancy where he learned a lot about the world of subscription based marketing and what makes gross margins important which evolved to Festival Pass.

In this episode you’ll learn about:

  • The journey of Ed on starting Festival Pass and getting it into the hands of millions of festival goers
  • The two sides of the marketplace
  • The 4 attributes of marketplace:
  1. route density and global density
  2. Homogenous and heterogenous inventory
  3. High and Low frequency price
  4. Medium and Long tail
  • Customer reward system

“The ability to take multiple data points from a consumer based upon their behavior, their interest, [is a] lifetime value to the platform.” - Ed Vincent

“It's a collection of multiple experiences that kind of led me to this. I tried to choose businesses that I'm passionate about.” - Ed Vincent

Ed just like Steve Jobs believes that you can't connect the dots. Looking forward, you can only connect them looking backwards. And it seems like you drew a lot of your current execution ability, operations ability from previous businesses that you've been part of for help.

He shared that the ones that succeeded are the ones that just persevered through, and didn't give up in the face of adversity and just kept moving.

LinkedIn: https://www.linkedin.com/in/edvincent

Website: https://festivalpass.com/

89 episodes