Here are some steps to make the most of Marketplaces, which are essential for anyone selling online
Have you ever thought that “Marketplace” is the buzzword for those who sell online, or even for those who are still thinking about getting into ecommerce? No wonder. The big sales platforms have become the main stage for ecommerce worldwide. But, how do you make the most of Marketplaces?
First of all, these platforms have specific rules for displaying the products of retailers and suppliers, under penalty of having their registration banned or even not accepted. Without doubt, this makes consumers trust sellers on Marketplaces more than in a one-stop store, for example. So, start by adapting your ecommerce to these rules.
How many Marketplaces should entrepreneurs be on?
Retailers should not limit themselves to being present in just one or two Marketplaces. However, it is not always advisable to do so indiscriminately. It is essential to analyze which platforms are aligned with the business and the ability to meet customer requests.
It’s also important to consider that there are niche Marketplaces aimed at specific product segments or categories. In certain cases, it is more strategic to list products on fewer channels, but to choose those that are most relevant to your niche market.
This way, there can be less competition and a more qualified audience, made up of consumers who are specifically looking for that product category. Basically, there are Marketplaces specializing in practically every category and type of product.
How to start selling and improve sales
Once you’ve chosen the platforms to sell on, it’s best to start slowly in order to understand how the sites work. Initially, it’s important to understand the general logic of these platforms. Ideally, you should carry out lots of tests, analyze what you learn and make improvements, and then gradually expand the products you sell and your presence on other Marketplaces.
Also, another important point for these platforms is price. The prices of the products on the online store may not always, or almost never, be the same as those on the Marketplaces. In addition to site-specific fees, sellers are highlighted by the algorithm based on their lowest price.
Therefore, market research is essential, as is including the most competitive products with the best margins in the Marketplaces to ensure profitability. It’s worth spending more time on this research in order to frequently monitor the “ups and downs” of the market.
Use a Marketplace integrator
Finally, a tip that can mean a considerable increase in sales with little effort. Being on multiple Marketplaces is undoubtedly a good strategy, but it will be a lot of work if you register manually, one by one. As we’ve already said, these platforms have specific rules to follow and a meticulous registration process.
Therefore, using a tool that makes it possible to centralize all the data on the Marketplaces in one place, and control all the sales at once, means, above all, more agility and less time commitment. Marketplace integrators, or hubs, also offer other tasks and facilities, such as reports, invoice generation, important business information and much more.
Putting an online store in these large virtual malls can definitely represent a leap forward in business growth, provided it is done strategically. Therefore, it is necessary to have the best practices, the most appropriate tools and a vision of continuous improvement.
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