As from the 2nd of April 2020 – we will be increasing our commission fee on Poptop which will affect all of our suppliers on the platform. Our current commission fee of 8.41% (inc VAT) will be increased to 12% (inc VAT). Throughout this article, we are going to be very transparent, and inform you why we have to take this step as a company and how it is going to affect your listing on Poptop.
The Journey So Far
Since Poptop was founded in 2015 – we are extremely proud of what we have achieved in a small number of years. We are now one of the fastest-growing startups in the UK and have now increased our team size to a total of 15 employees based in Newcastle. In 2019 we became the first event marketplace in the world to release Instant Quote and are hugely satisfied with the product we have built for our suppliers. In order for Poptop to grow and develop even further – increasing our commission, for the first time since 2015, is a necessary step we must take.
How Will Increasing The Commission Help Improve Poptop?
Our ambition at Poptop is HUGE and we know we have the potential to build a bigger and better service for our suppliers. This commission increase means we will use the additional revenue to reinvest into continuing to develop our technology and improve the service we offer. This will truly help us build a platform that satisfies the needs of all our suppliers.
We have a huge backlog of ideas that will improve our service but currently, we do not have the resources to implement these. We want to be very clear and share with you below a few of the steps we will take to improve our service for you.
Invest In Marketing Promotions: We want to grow our client base throughout the UK even further. We want to improve our brand awareness and reach out to more client segments. By 2020 we plan to grow our client base x5 times. This will result in more leads and bookings for you on the system.
Product Development: We want to always improve our product based on our suppliers feedback. Further features will be released on the supplier dashboard including:
- New redesign of the dashboard
- Allow suppliers to respond to reviews
- Release of a mobile app
- Add external bookings/reviews to Poptop
- Calendar system which allows +1 booking per day
- Improvements to Instant Quote packages
- Redesign of the catalogue
Team Expansion: Hire exceptional team members. More team members can help us achieve better results more effectively and efficiently. We currently have a small team of 15 in the UK and need more resources to achieve bigger and better results.
We understand that you may have questions regarding our price increase and we are more than happy to answer. If you would like to schedule a call with James (Head Of Supplier Department) and discuss this matter – please contact and this will be arranged.
We really want to emphasize that this commission increase will allow Poptop to expand and grow and build a valuable website for our suppliers. We have benchmarked this fee against competitors and with this small % increase, it still means we offer the least commission charge on the market.
When will this change happen?
From the 2nd of April 2020 – our commission will change to 12% inc V.A.T. We want to give our suppliers plenty of time so they are aware of this update. This will be the first increase to commission since Poptop was founded in 2015.
Will this affect previous bookings and quotes submitted?
This will not affect any previous quotes or bookings. For example – if you have received a booking before April 2nd we will still take our commission of 8.41% from the deposit.
Will the booking process still stay the same?
Yes – the booking process will stay the same. This means our 12% commission will be included in your deposit as it works now. We are certain this will not affect your bookings as this small % increase will be shown as a deposit to all clients.
Do I need to make any necessary changes?
Once we increase our commission you may want to look over your pricing structure on Poptop. This means changing your base fee to reflect this 12% commission in your deposit. The minimum deposit you will be allowed to submit will be 12% of your overall quote. We will be sending out regular reminders about the commission increase before April 2nd.