By Zoe Ripley, EMEA marketing director at ChannelAdvisor
There is so much potential for home retailers and small businesses when selling on online marketplaces. But with so many platforms to choose from, it can be hard to know which will suit the needs of your business and reach the right audiences. To help retailers make the most of the marketplaces available to them, ChannelAdvisor has come up with some top tips to amplify sales and expand your online presence.
Choosing the right platform: There’s no single platform that will fit your business perfectly, but it’s important to take the time to assess what will suit your priorities. For example, if branding is important to you, you might consider selling on eBay, which is more flexible than other marketplaces in allowing you to customise your product listings. Unlike some other channels, eBay does offer retailers the opportunity to recreate much of their brand within their own seller account. However, you might prefer to leverage the reputation of an existing brand. Amazon takes great pride in managing the entire shopping experience for its buyers and has worked hard to create a winning formula that its customers love, with third-party sellers now accounting for 39 per cent of Amazon’s total sales.
Look for deals: If you have the luxury of a large quantity of certain products (combined with good prices), consider eBay’s Daily Deal programme. eBay promotes these Daily Deals in a prominent position, making it possible for products to stand out and be seen. Daily Deals group together products within a certain category together, assisting retailers to move large amounts of product, resulting in significant spikes in revenue. Also consider that many other marketplaces also have deals worth investigating.
Respect the reviews: Retailers are able to solicit feedback from buyers to help their seller history; in fact, these reviews are vital. However, it’s important to provide buyers with the freedom and ability to express their opinions. Any attempt to manipulate ratings and reviews could result in a loss of selling privileges on a variety of platforms.
Make the most of new marketplaces: Though Amazon and eBay are the big players, they’re not the only ones. Recently there has been an explosion of emerging marketplaces both locally and globally, including La Redoute, Trade Me and Rakuten’s Play.com. These marketplaces are hungry for new sellers to help them compete, meaning that it’s easier for retailers to reach new audiences without much extra effort or cost. Spend some time exploring these sites and determining which ones have niches and audiences that are strategic for your business.