Green Alley Award finalist 2016, restado – 1 year after
Dear Dominik, restado was one of the six finalists of the Green Alley Award 2016. Have you been able to extend the reach of your digital marketplace since then?
The Green Alley Award has helped promote restado as a platform for buying and selling construction material in many aspects.
We were able to use the event to talk to experts in the Circular Economy and the construction industry about our new concept and to validate it. We subsequently used the feedback to improve and fine-tune our business model.
Moreover, we established valuable contacts and partnerships that helped us double the stock on our platform. At the moment we are working on further exciting partnerships which help us integrate the platform with existing larger construction companies to augment their service offers.
Besides the exciting developments on the seller’s side, we could sustainably increase our number of visitors by 350% as well as double the sales by implementing the feedback from the experts.
To sum up, the Green Alley Award was an important and big step for the development of restado.
What are the future goals for your start-up?
Within the next few weeks, we will upload an improved layout of our platform, which was developed on the basis of the feedback from experts, partners and the platform users. It will then be possible to, for example, search building materials by attributes such as a brown front door or a garden fence with a length of 2 meters.
This summer, we also plan to integrate the complete buying process on our platform: Hence, an interested buyer can buy the building material and pay directly. Also, the seller can process the shipment directly via our platform.
As already mentioned, we are currently implementing exciting partnerships. In the future, these will make it possible for construction companies and producers of building materials to put surplus building materials automatically on our platform through their internal systems. Moreover, we have already integrated the biggest building material platforms in Germany on restado and plan to integrate further ones.
Have you faced any obstacles? How did you manage to overcome these?
For one, we faced the great challenge of defining the future concept. There were different opinions and directions. Hence, we talked to partners, experts and the users to find the best direction for restado.
Also, the sufficient monetization of restado was a challenge that is directly linked to the concept. After detailed finance planning, we are convinced that we have overcome this challenge.
Another challenge is to attract the attention of potential users to restado using a low budget. We were able to master this challenge for example with Guerilla Marketing and other creative marketing methods.
We are well aware that there will be many more challenges. Nevertheless, we are optimistic to solve these and to extend our position on the market.