Unlocking the online potential

It shouldnt come as any great surprise to hear that the way we buy goods and services, both domestically and commercially, has changed. Over the last 20 years we have seen the rapid emergence of online marketplaces, from those with a tremendously broad offering such as eBay or Amazon to the market specific platforms such as Rightmove, Moneysupermarket or Expedia.

The recycling and resource market has been slow in its progress towards an increasingly digital world. The majority of companies generally still adopt traditional sales and marketing techniques that are often reliant upon large, inefficient and expensive sales forces. There are those of course who have embraced the internet working on search engine optimisation, developing pay per click marketing, and implementing display advertising into their marketing strategies. The result is an industry that is in a similar place as car insurance was before the rise of Gocompare.com, or travel before Lastminute.com transformed the market in 1998.

Visibility

The reason these digital marketplaces were created and are successful is simple. They provide visibility and choice to everyone involved; service providers on the one end and consumers on the other. There is no need to get individual quotes from providers as these can all be generated in one place. From a service providers perspective they benefit from having access to a larger customer base, that is actively seeking to buy a service or product.

These benefits can be realised in the majority of markets, and waste and recycling is no exception. The resource market continues to evolve, and efficiencies are sought by both waste management companies and producers of waste. A digital marketplace will not only provide visibility to the market but will also make it easier to transact therefore reducing costs for all involved.

In reality there have probably been two major barriers to the development of an online marketplace for waste and recycling services but both are now surmountable. Firstly, at a macro level the internet itself is now ripe for marketplaces. Technically we now have enough speed and infrastructure, such as payment systems, plus a wide availability of online connectivity. Secondly, the waste industry is a relatively closed market. It is heavily regulated and legislated, making it difficult to understand for lay people who more easily understand every day markets such as property, recruitment or travel. It is in these sectors where the lower hanging fruit was to be had – that first saw online markets developed.

Technology

Waste was, and is, however, always going to have its time in the digital sun. The pressures on business and our familiarity with technology means, I believe, that the time is right for the sector to take the next digital step. The creation of a digital marketplace for waste and recycling, where recycling companies can subscribe to view and bid will act as an additional sales channel in much the same way Expedia does for British Airways. Waste producers will of course benefit, as we have seen in other sectors, from increased choice and the ability to get quotes from a selection of pre-checked and licensed providers all at the same time.

Recycling and resource companies can register for free for a limited time at http://itscollected.com/collectors.