Today, Austin-based BidModo launched a public beta version of its free online small business marketplace where business owners connect with local companies in a variety of business service categories. From accounting to graphic design, BidModo provides an online marketplace to increase productivity, reduce costs and link local companies.
BidModo is live nationally in 80 cities with active connections in over 100 business service categories, with the company planning to roll out in each focus city when once they reach a critical mass of vendors. Austin is the first city to receive an official launch.
Founder Troy Schwartz, who ran a video company in Austin prior to starting BidModo, explained the company’s rational in a statement today: “I would regularly hear of companies in town turning to New York or San Francisco to hire for their video needs. And I can’t tell you how many times I’d meet people in Austin who would comment that they wished they knew I was here. It was time for a simple technology, an online market place, to connect businesses in a better way. That’s why we started BidModo.”
BidModo allows for business owners to post a service request and review a short list of suppliers that meet specific cost, need, scope and services requirements that are vetted by the online marketplace database. This allows for easy comparison of cost, vendor profiles and ratings from previous clients of the vendors. The value is saved time and money and the ability to link with the best possible vendor.
Vendors, on the other hand, have the opportunity to scan over 100 different business service functions and are able to complete an online profile for free. Vendors can then view real time requests posted in their local area, ideally saving them time and dependence on traditional advertising or cold calling leads. In addition, a vendor is able to use their dashboard to track sales conversion rates. Finally, the cost to a vendor only occurs when they are chosen to perform work.
There are several important components to BidModo’s online marketplace. The product clearly allows for an opportunity to capitalize outside one’s trusted word of mouth network, and it’s a great supplement to expand that network. Leveraging new technology to expand relationships allows for better working arrangements leading to reduced costs, better products and greater revenue for all involved.
Furthermore, the aspect of local is fantastic. Not only is there an immediate benefit between vendor and business owner, but a sense of community grows. With constant concern in Austin about expansion and its effect on our sense of community, BidModo may well be able to promote and assist in both aspects, but at the expense of neither.