The impending Coronavirus has shrunk the earlier 65% of people preferring an offline shop down to a mere 6.8%. This is proof that online marketplaces are the way of the future. In this guide, we will learn how to make this online marketplace opportunity most profitable and provide you with strategies and methodologies that will help you maximize the profits. Moreover, we will also take you through our most coveted solution that will surely help you simplify the entire process. First, let us take a look at a few of the most popular online marketplaces available at your disposal.
With over 5 million sellers and 197 million shoppers in the US alone, Amazon has become the biggest online marketplace in the world. Best suited for medium to large scale sellers wanting exposure to millions of customers and can handle the incoming traffic.
Its individual plan, priced at $0.99 per sale + selling fees, is enough to get you started immediately. The professional plan for niche products like fine art or collectibles is priced at $39.99 per month + selling fees per item + variable closing and referral fees.
Launched in 1995, eBay has evolved to be among the largest marketplaces with 180 million active buyers globally, generating $95 billion in sales annually. Best suited for sellers of new and used products, offering to auction their products to fetch a better price. With no setup costs and monthly/annual fees, eBay’s pricing includes an insertion fee + sales fee.
Priced at $0.20 per listing + sale fess, Etsy is ideal for small to medium sellers; Etsy caters to buyers looking for unique products. Products on Etsy are sold independent of the Etsy brand name, allowing you to cultivate your loyal customer base as you grow.
You must be wondering why we emphasize selling on online marketplaces. Here are the major reasons why online marketplaces are the boon that you are missing out on:
1. They are immensely popular among your customers.
2. Simple and easy to access
3. Instant access to billions of customers and new audiences
4. Unlimited reach where the sky's the limit
5. Increase in the level of trust since you are a verified supplier
6. Built-in internalization
Now that we have understood what online marketplaces are like, it is also crucial to understand these two major techniques used around the globe for increasing market reach and making that lasting impression:
Social Media Marketing
More than 450 million users visit social media channels every month. Social media can be used to define your company’s culture, share content, and showcase your organizational values. It can be used to engage with different buyer personas and create an emotional bond with your buyers.
Search Engine Optimization (SEO)
SEO determines the ranking of your product page on a Google search. While your customers can publish their content to improve your rankings, such as writing blog posts, leaving comments on platforms, interacting with FAQ’s and writing product reviews; it is your responsibility to better position your products which shows that you are putting efforts into your marketplace and value your customers.
C2 Corner Marketplace Booster
With this background, it is evident that the whole process may seem overwhelming and daunting for you to begin with. Keeping your business running simultaneously can be a complicated process. That is where C2 Corner Marketplace Booster comes into play.
Our services include marketplace selection. You get to choose from 100+ marketplaces and help you to sell, manage & control your product flow conveniently.
We will engage and convert relevant audiences from social media channels. We will ensure your product is at the top of any search for your product category, so your customers reach you faster.
You can get started with the Booster pack with three simple steps:
1. Select, Pay and Sign-up
Select and pay for the booster pack of your choice, and choose from the 100 marketplaces we offer
2. Company Information
Input your company information and other details to guarantee faster approval
3. Add & Sell Products
Add information about your products like name, delivery time, stock, price, and start selling.
Handling your online marketplace is a challenging task and performing it on your means diverting important resources that you could have used to grow your business instead. C2 Corner Marketplace Booster can help you exponentially increase your sales with significantly higher conversion chances while focusing your resources on growing your business.