Today, a marketplace is a boon to many small and medium retailers, but let me tell you, a wrong marketing approach will keep your products unnoticed and in the end affect the bottom line of your business. So, to make the most of marketing on marketplaces, below are 5 essential tips that you need to keep in mind for a happy selling.
As a retailer, it is certainly profitable to post every products on Amazon, eBay, Shop Clues and similar marketplaces, but some of these marketplaces limits you – at least in the initial stage - on the number of products you may post or on categories in which you may post. Therefore, it is always recommended to monitor and analyze consumer behavior and list products that are in trend or best selling products, that marketplace shoppers will want.
Don't limit yourself to Amazon and eBay
No doubt, Amazon marketplace integration can bring the best return on investment and eBay marketplace integration can help you expand your reach, but don't limit your product offering. Instead, there are many other marketplaces to try, depending on your product offering. Just to name a few options, Cqout.com, eCrater.com, iOffer.com, can be used, depending on the product your offer. If you are a retailer selling handmade products, then Etsy.com cannot be missed.
Sell niche products
With more and more sellers diverting their products to online marketplaces, it becomes crucial for you to find a way so as to make your product stand out in the crowd. Try and list products for which there are few competitors. Just to give an example, Amazon marketplace integration creates one page for each product available on its site. Therefore, if you are selling one those, then your product are stuffed into the same page. This way it becomes difficult to make your product visible, unless you are willing to keep them at the lowest price that your competitors.
So, offer niche products on marketplaces that will help you gain both sales and profit margins.
Sell across the globe
Do not limit your offering, but rather have shoppers from across the globe. With the rise of ecommerce software solution, you can know easily integrate your marketplace store with shipping solutions like FedEx to help with cross-border sales. This way you can widen your reach, as you go on.
Manage your credibility
You never know, you credibility can make wonders in your sales. Giving an example, to qualify and win Amazon's “Buy Box” contest, apart from other factors, Amazon determines how prominently that retailer is featured. Keeping this in mind, it becomes important for your to increase customer engagement and satisfaction. Utilize social networking sites for customer engagement, and encourage feedbacks.
EBay marketplace integration offers a platform where it buyers and sellers rate each other. So, if you sell on eBay and if your customers has paid for the product, shoot a positive review, in return she may give you one too. This way you manage your credibility.
Marketplace integration is the buzzword today, but it requires more attention to the details highlighted above. Listing your products on marketplaces is not sufficient, you have to market well to get your products noticed. Executing the 5 essential tips mentioned above will help any retailer a huge advantage over your competition, which in turn will lead to more sales and profit!