Five Tips for Developing your Business on a Marketplace

by Marketing Team

marketplace payment , marketplace sellers

Five Tips for Developing your Business on a Marketplace

by Marketing Team

Currently, e-commerce is becoming hyper-competitive, and customer demands are more and more complex. Thus, retailers who sell on marketplaces must adopt a good marketing strategy to stand out from the competition and grow their business. Although advertising is an effective way to increase your multichannel presence, this strategy is not enough to set you apart and grow your business in marketplaces.

Five Tips to Help You Sell on a Marketplace

 

Five Tips to Help You Sell on a Marketplace

To help you do a little market research before you start, here are some Tips:

  1. Get noticed by offering a Unique Offer
    One of the essential interests of a presence on e-commerce sites is the visibility they offer. If you are a reseller on industry leaders like Amazon or eBay, your offering will most likely be associated with your competition. In this kind of situation, your visibility depends mainly on prices and services. The only way to place yourself above the rest is to "provide the best value for money".
  1. Learn about market requirements
    Markets have many requirements which are often specific to each of them. However, some are common to all. These include in particular:
  • EAN Code: This is a unique identification code for a product that allows you to sell it online or in stores. On marketplaces, this code is required to organize your product catalog.
  • Standards on product images: Each marketplace always imposes a standard on image quality. So, always remember to check this criterion.

To find out all the market requirements, check with a marketplace management agency.

  1. Choose your marketplace carefully
    Several marketplaces currently exist and it is tempting to want to sell everywhere. However, you have to agree on the logistics, which you shouldn't take lightly. The best way is to deploy your e-commerce in multiple marketplaces and choose those with lower customer service and responsiveness requirements. Also note that not all markets have the same visibility and notoriety. To find the one that could offer better SEO for your business - and where your products sell easily - just do a Google search for your flagship products to identify the platform that will give you more exposure.
  1. Optimizing the management of production speed
    When you have made your choice and your product catalogs are on the marketplace, you need to optimize the order management process. Indeed, it is important to be reactive, because you must keep your catalog constantly up to date to avoid problems.
  1. Prepare to enter global markets
    Once your market strategy is in place, consider selling internationally. Indeed, this is one of the main advantages of marketplaces. It allows you to broaden your target and offer your products in countries where competition is less intense. However, you should check that your logistics allow you to deliver larger quantities before this. And this at a greater distance within a reasonable time and cost. If not, you can also try dropshipping.

 

 

 

What you need to consider before you start

 

Before entering into a contract with a Marketplace Management Agency, you must analyze the needs of your business. Here is a list of factors that can help you make a decision:

  • How you choose to run your e-commerce depends on your infrastructure - in other words, your business model and your goals.
  • The current size of your catalog, but also the size you plan to offer in the future;
  • The data you will like to control: data on orders, products, stocks ...

When you've got those things right, make a list of your needs and start looking for the marketplace platform that can offer you apps to help you manage what you need. In this step, also remember to check if any of the manual processes you are using can be replaced by an extension. The latter helps make your workflow more productive because you can update everything easily and quickly.

 

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