Tips for success in the marketplace

To finish this section, we will give you some tips to help you sell more on marketplaces:

• use high quality images;
• Take advantage of paid advertising options to reach more users;
• Don’t forget to make the price clear in your posts;
• avoid the “Free” label when it is not;
• just make one post of the same article;
• offer multiple payment options for your customers;
• have several national and international shipping services;
• create a delivery, returns and refunds policy;
• Take advantage of chatbot technology to resolve frequently asked questions.

Still not convinced about selling on a marketplace? Well, here are the advantages and disadvantages so you can make a good decision.

What are the advantages of a Marketplace?

For users, the Marketplace is more practical , after qatar telegram data all, they can see offers from several sellers on one website. This way, it is possible to compare and choose the best price easily.

Plus, you can shop at multiple different stores and make just one payment , instead of going through multiple checkout processes at multiple sites.

For merchants, this is synonymous with collaboration . By advertising their products on a marketplace, companies – whether large or small – gain more visibility and manage to increase sales .

The concept is the same as that which justifies the success of a physical store in a shopping centre . People may come in to buy a product from another store, but they see the products in your window and end up buying from you too.

The Marketplace is a showcase in a virtual shopping center .

In addition to visibility, companies also gain reputation with consumers. When a smaller, less well-known store places its product on the Marketplace of a market giant, it manages to overcome some purchase objections typically linked to a lack of trust.

How does a Marketplace work?

If you want to do business on a Marketplace, the jiangxi mobile phone number list process is simple, but requires attention. Basically, you need to register your company and your products.

From there, your products begin to be disclosed, appear in surveys and are suggested to users according to their search and purchase history .

You should be aware of the commission charged by the company that manages the Marketplace!

The commission corresponds to a value ranging from 9.5% to 30% of each sale made. The variation corresponds to the level of disclosure you request during registration: the greater the visibility of your products, the higher the commission.

Knowing this, you need to evaluate the feasibility of entering a Marketplace.

• Does the profit margin exceed the cost of the product plus the cost of the commission?
• Will the expected increase in sales volume offset the reduction in profit margin?
• Or will the Marketplace boost your sales but destroy your profitability ?

In addition to the commission, the Marketplace also has a deadline for transferring sales values.

This period varies from 2 to 45 days from the publication or delivery of the order. It is a way of ensuring proper customer service.

Consider these factors and conduct a detailed financial feasibility analysis before deciding whether the Marketplace is worth investing in.

Another point that needs attention is the choice of the Marketplace to which you will associate your company. The public that visits each of them may have subtly different profiles , both in relation to their interests and demographic factors.

Therefore, it is important that you register in the Marketplace that has users most aligned with the profile of your clients .

Finally, read the policies and terms of the chosen platform as well. You are obliged to comply with these conditions. Otherwise, you may receive complaints from customers and be removed from the platform or penalized in other ways.

Keep in mind that companies that maintain a marketplace are very strict about compliance. After all, their reputation is at stake.

What is the importance of a Marketplace?

As we have already said, the Marketplace has a positive impact on visibility and credibility with customers. But these are not the only factors that lead to increased sales.

The Marketplace is also efficient in customer loyalty , offering the necessary tools for you to create actions that add value to the user experience with your brand.

Think about Black Friday: thousands of merchants on Marketplaces offered products at special prices. By participating in this event, you create an opportunity for the customer to have a positive experience , thus ensuring that they will buy from you again.

It is much simpler to promote such an event online than in a physical store.

Furthermore, compared to an e-commerce site, the Marketplace does not require as much investment in marketing . There are also no high IT (information technology) costs, with development and hosting. The company that manages the Marketplace takes care of that for you.

In other words, the Marketplace increases sales while reducing costs , thereby boosting profitability.

Another advantage of the marketplace is the scalability of this model. As your product portfolio grows, it becomes much easier to showcase your products to your customers. Basically, there are no limits.

Have you ever thought about associating your company with more than one Marketplace? There are two important advantages to this practice.

First, you can reach more people – all users of Marketplace A plus all users of Marketplace B.

But, don’t forget: as we have already mentioned, you always need to look for Marketplaces that have a user profile compatible with your company’s typical customer.

Secondly, you can reach the same user, more than once , who will have repeated contact with your brand on different platforms, creating more opportunities for the purchase decision.

To top it off, the Marketplace is an easy-to-maintain alternative . The process of registering products can be carried out by just a few people. This way, your team can focus on more strategic activities, such as analyzing the market, defining prices and choosing new products for your customer portfolio.

What are the best practices associated with implementing a Marketplace?

First of all, it is important to learn how the chosen Marketplace works . By this we mean learning in depth, not just step by step, how to register items.

How should you describe a product to attract users’ attention? Which photos can arouse the most interest? Keep in mind that your “shop window” is competing with that of several other retailers.

Even if you join a marketplace, you will most likely have an e-commerce site and perhaps a physical store. It is essential to ensure consistency in product quality, service and delivery across all sales channels.

To do this, it is necessary to create unified management instead of segmenting the control of each channel.

In addition, the procedures and parameters must be identical. For example, it makes no sense for the time needed to prepare an order to be longer in the physical store than in the Marketplace.