Estimated reading time: 7 minutes, 32 seconds
Finally, after making all the efforts to sell your products offline, have you made up your mind to step into the eCommerce world? But, are you worried about where and how to start to get the best possible returns? If that’s your situation, then you really need to check our detailed guide on selling on an online marketplace.
Moreover, if you’re a junior marketer, store owner or an eCommerce manager, then this blog is just for you. So, without dragging much, let’s get to the point!
The number of internet users has arrived at 4.1 billion by the end of July 2018. Not only this, it is expected that half of them would shop online in 2021. Can you believe it? Today, one out of every two internet users is gonna order something online. You see, you definitely took the right decision to set up your E-store.
Excited enough to know more? We are too!
What to Sell On An Digital Marketplace?
First things first, you need to select a product to sell online. Choosing the right product is actually much like rocket science, that’s why you need to have some prior knowledge of the market!
So, you wish to sell a product that will give you the hottest and highest returns, right? Then open your ears, eyes and mind! This guide is going to be so helpful for you.
The first question is what to sell online? Honestly, there are plenty of products that you can sell on an online marketplace. To select one, you need to do proper research and studies, otherwise your failure is final!
Either you can sell the products that everyone needs. Or, you can select the ones that are only needed by a particular audience. Various eCommerce websites such as Amazon, Flipkart sell commodities. Moreover, Etsy focuses mainly on unique, handmade and bizarre products.
Other than this, you can also choose to sell a combination of both. Only if you have the required knowledge to manage them both effectively. Besides, if you decide to sell common commodities that can be found on every other E-store, then it would be hard to gain attention.
Picking up a unique product can be a daunting task, but it’s not impossible, right? So, here are our suggestions for you, keep reading to know more..
Points That You Should Keep In Mind Before Selling On An Digital Marketplace
- You must choose or create such products that solve the issues of people. Don’t worry, it doesn’t need to be brand new, it could be a slight modification on an already existing product as well.
- The Ecommerce market is expanding largely and quickly, so step into it as soon as possible. There’s a lot of risk in it but this can prove to be the most effective selling strategy. It’s all the matter of timing, the early you step into it, the earlier you will get the returns. Most importantly, establish your credibility and goodwill as soon as possible. This will let you be the pro in a game when everyone’s just stepping into it, what say?
- You can sell your products through your store or these big eCommerce stores like Amazon, eBay, Email, affiliate websites, social media, Craigslist, and many more. Don’t bother much because starting your e-store is also not much of a task. All thanks to the hosted services like PCI compliance, SSL certificate, and shopping carts.
- What about the payment gateways? You can select as many payment gateways as you wish. A lot of them also offer various SEO and business tools to let your e-store appear on the top of search engines. Also, the more options, the more will be customer satisfaction. Tell me, what’s better than this?
On the contrary, begin selling products only if you’re sure that they’ll let people indulge in guilty pleasures. You can’t do that? Don’t worry, then you can find the products that you’re impassioned about.
Selling Products With Amazon is Indeed a Great Way To Start!
If you’re a beginner with no tough knowledge of selling online, then Amazon is a good option for you! Why? Because it is the most famous online store, with around 2.53 billion pounds, as of 2019.
So, how to start? First and foremost, choose a product that you’re gonna sell with Amazon. Just for your basic information, let us tell you that you can sell pretty much everything except some restricted items.
As soon as you’ll decide what to sell, you can select a plan. You can pay 28 pounds per month to sell as many products as you want. Other than this, there’s a plan where you need to pay 0.72 pounds for each product you sell, that depends on you.
Moreover, if you’re just a beginner, then opting for the individual plan would be a better idea. Because with this plan, you’ll only need to pay the transaction fees and not the flat fee. So, an Individual plan would save lots of money.
What Are Some Basic Marketing Strategies For E-Marketplaces?
Here are some of the basic marketing strategies that you can follow to achieve success in your online business.
Stand Out In The Customer Service
Customer service should always be your priority. You must try each possible way to make your customer happy and satisfied. No doubt, the expectations of the customers touch the sky but you need to touch it too. After all, gone are the days when buyers used to be the king, now the marketplace is a kingdom of the customers.
Most importantly, you must aim at providing a user-friendly environment for the customers. Also, the payment and delivery options should be top-notch. For instance, the customers of Etsy expect some personal communication. Whereas, the customers of Houzz expect faster delivery.
Besides, there are some things like personal communication, quick reply service and problem-solving, amicable environment, faster delivery, quality, discounts, easy returns, and other such things that make the customers happy. So, you must keep on making these services better.
Enhance Your Listings
It's always a great idea to optimise your listings for SEO and to make them click through rates better. Make sure to showcase good HD pictures of your product, do proper research of the tags and keywords, and pitch them in the product descriptions.
Moreover, your main focus must be the customer. So, make sure to present all that is in the product to them, in the best possible way. Also, you can make use of various SEO tools too.
Adjust Your Pricing
Make sure to automate the pricing to every single e-marketplace. The reason why the price should differ is, the structure of the fee and audience are quite different.
The best and proven way to keep a record of all the pricing on each online marketplace is by using an automation tool. It is a pricing tool that lets you know about the pricing of different marketplaces.
Yeah, one thing that you need to keep in mind is that you must put proper pricing of your product on Amazon. Because various studies show that almost 44% of the shoppers' checkout the price of any product on Amazon.
Promotions And Advertising
Marketing without advertising seems more like life without water, isn't it? Promotions and marketing go hand in hand. That's why you must promote and advertise your product as much as possible.
There are a lot of online marketplaces that provide advertising and promotion services to sellers. One among them is Amazon, where customers are earning huge sums of money. Also, the advertisement platform of eBay is quite developed.
In addition to this, various other channels such as Houzz and Etsy are also working on their advertising services. Although they are less vigorous and don't provide customisation that you can get on Google Ads or Amazon, they are still powerful in generating sales, clicks, and impressions.
Offer free shipping
What can be better than free shipping? Nothing Every one of us are customers at one place or the other and we expect free delivery, don't we? Even the studies show that almost 96% of the customers expect free shipping. And you know what? Some of us even abandon the carts after looking at the delivery services.
The point is, that's how important the delivery services and free shipping are!! So, you must work on making the delivery services better to achieve success. Moreover, there are some E-marketplaces like Wish and Etsy, they offer free shipping through more impressions and lower fees.
So, here we are at the end of "The Ecommerce Guide For Selling On Online Marketplace." We hope you are now totally equipped with all the strategies to boost up your online marketing game!
In case you find any difficulty or you need some guidance, then you can surely contact us at RVS Media Limited.
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