Ecommerce can be complicated. Retailers and wholesalers have the opportunity to significantly scale their businesses by selling through ecommerce marketplaces outside of Amazon – such as Jet, eBay, and Etsy. Rach marketplace comes with its own expectations, built-in audience, tools for sellers and codes of conduct. Despite the unique features for each specific marketplace, there are many universal guidelines that can help retailers maximize sales across multiple platforms.
To help optimize your marketplace selling success, consider these ten tips.
#1. Offer “Free Shipping”
It’s no secret that even the smallest shipping costs can discourage customers from making a purchase. Over 50 percent of customers believe free shipping is more important than fast shipping. The reality is that some of the savviest ecommerce retailers simply estimate the cost of shipping and tack it on to the price of the goods they sell online, so they are able to offer customers “free shipping” at checkout.
#2. Work Those Keywords
Using keywords to boost SEO is essential for retailers who want to achieve high-ranking product listings on competitive online marketplaces. However, sellers shouldn’t ever have to try to come up with keywords without the help of an experienced marketer. Instead of spending money to outsource the project or to hire additional staff, sellers can use free platforms such as Google Trends and Wordstream to find the right words for product descriptions at minimal cost.
#3. Sell Private Label
Customers love the opportunity to get to know a brand, and retailers can build their own brand from the ground up by selling private label merchandise. Private label merchandise can help marketplace sellers become more independent from other brands, create more of a demand for their products, and boost revenue by selling a product that is uniquely their own. Private label brands are expected to surpass 25 percent of all retail sales in the next 10 years – which means there is no better time than now to get in on this action. Not sure where to turn for help though? Explore private label vendors at ASD Market Week!
#4. Buff Up Your “About” Page
There is no overstating the importance of a great bio to an online seller’s bottom line. Customers want to get to know brands and a seller’s “About” page is where they can make their company accessible to potential buyers. As a point of reference, an online seller “About” page should contain the backstory of the brand, stylish merchandised photos of inventory and the brand’s mission statement. This helps create a connection to the customer while giving them a snapshot of who they may be making a purchase from.
#5. Connect with a Community
Even in online selling, there’s a big advantage for retailers that connect to a community of their peers. From business advice to marketing partners, there’s no limit to what marketplace sellers can gain from working together. Etsy gives sellers the option to join a selling team, while Jet has a vibrant unofficial community on Reddit, and eBay has a great online forum for seller and staff discussions. Consider how being a part of marketplace communities can strengthen your marketplace selling.
#6. Use Available Tools
To cut out unnecessary expenses, it’s important for online sellers to take advantage of the free tools at their disposal. Many online marketplaces offer free analytics tools for sellers so that they can better understand their store’s online performance and key demographics. Most online marketplaces, such as eBay, also have a page that connects sellers to free listing tools that can help them post on multiple online platforms – including social media – with the click of a button.
#7. Sell Internationally
Once a seller has built a solid brand following and is ready to scale their business, selling internationally be the perfect next step to expose their brand to an entirely new consumer demographic. While expanding into international selling is easy to do on Etsy by simply changing shipping preferences and eBay by making listings available worldwide, other marketplaces such as Jet still aren’t selling internationally – so sellers who know they’re going to want to scale their business at some point should take this into account when choosing a marketplace.
#8. Mind the Packaging
When selling on online marketplaces, it can be a challenge for sellers not to get lost in the fray – especially when platforms limit how much they can promote their own brands or website. Through custom packaging, however, sellers can create a brand experience that starts the minute customers lay eyes on their package – and tissue paper, boxes, and stickers can all be used to help customers connect with the brand.
#9. Test Different Price Points
Online sellers can significantly increase their margins by testing different price points to see what customers are willing to pay. Now, this doesn’t mean tacking on ten dollars and hoping for the best, but a small markup can – depending on the item –significantly improve margins without alienating price-savvy regular customers and can also increase customer’s perception of the product’s quality.
#10. Toss in a Treat
A little something extra can mean a big deal to online customers. Whether a seller includes a thank you note, a coupon for to be used on a future date or even a piece of candy that becomes signature to your brand, customers will remember that you went a step above to provide an exceptional online shopping experience. As a result, they will also remember to return to you next time they are ready to make a purchase.
For retailers who sell via online marketplaces, putting in a little extra effort can make the difference between making a single sale and gaining a lifelong customer. Be sure you take advantage of this reality and incorporate the above tips to help.
Looking to learn more about the latest retail technology and how it can improve your bottom line? Attend ASD Market Week, where you can 90+ free educational sessions and connect with retail experts. Register to attend today.