Hey - it’s Fiona

Welcome to Marketplace Minute. It’s great to have you here!

This week’s hot topic is trust.

Trust is the foundation of every successful marketplace. Without it, customers won’t buy, and providers won’t list their services. But building trust doesn’t happen overnight. It requires thoughtful design, clear communication, and consistent actions.

So in today’s issue, I’ll cover:

• Why trust matters and how to earn it

• Real-world examples of marketplaces that excel at building trust

• Practical tips and resources to help you get started

How do I build trust in my marketplace?

This is such an important question, and it’s one that every marketplace founder should be asking.

Trust is what turns first-time users into loyal advocates. Here’s how to build it:

By focusing on transparency, social proof, design, communication, and security, you can create a marketplace where trust thrives, and where users feel safe, valued, and confident.

—> ✉️ Reply with your questions and I’ll answer them in a future issue.

Marketplaces that build trust

Let’s take a look at two marketplaces that absolutely nail trust-building:

1. Vinted (Second-hand fashion marketplace)

One of my personal favourite marketplaces is Vinted, a peer-to-peer marketplace for buying and selling second-hand clothing. They’ve built trust by creating a transparent and user-friendly experience.

For buyers, they offer a secure payment system and a buyer protection program that guarantees refunds if items don’t arrive or aren’t as described. They also have optional item verification that assures customers the item they’re buying is genuine.

For sellers, they provide clear guidelines on how to list items, set prices, and ship products.

What makes Vinted stand out is its focus on community. They encourage users to leave reviews and ratings after each transaction, which helps build credibility for both buyers and sellers. They also have a robust support system, including a help center and responsive customer service, to address any issues quickly. By prioritising transparency, security, and community, Vinted has created a marketplace where users feel confident and supported.

2. Turo (Peer-to-peer car rental)

Turo, often called the “Airbnb for cars,” allows people to rent vehicles directly from car owners. Trust is critical in this marketplace, as users are essentially handing over their cars to strangers or renting from individuals. Turo builds trust through a combination of verification, insurance, and clear communication.

For renters, Turo verifies user identities and offers a range of insurance options to protect both parties. They also provide detailed car listings with photos, descriptions, and reviews from previous renters.

For car owners, Turo offers a host protection plan and 24/7 customer support to address any concerns.

What sets Turo apart is its emphasis on transparency and accountability. They make it easy for users to communicate, set expectations, and resolve issues, which fosters trust on both sides of the transaction.

Why these marketplaces work

Both Vinted and Turo demonstrate how trust can be built through thoughtful design, clear policies, and a focus on user safety. By prioritising transparency, security, and community, they’ve created platforms where users feel confident and supported. These are key ingredients for any successful marketplace.

If you’d like to learn more, here are some great articles to help you build trust in your marketplace:

Fiona Burns

Find me on LinkedIn or Book a 1:1 call

If you enjoyed this newsletter, why not forward it to a friend.

Did someone forward you this email? You can subscribe to Marketplace Minute here!