As someone new to this industry myself, we can walk through this topic hand in hand. If I’m capable of understanding what’s to come, I have no doubt in my mind that you will too.
Welcome to the complex world of online marketplaces…
First off, Marketplaces are online stores where you can shop for a huge variety of products and brands. Examples of such marketplaces are Ebay, Amazon, Etsy and Wish. For the first time ever, shoppers are going to the web for most of their purchases. A huge 79% of US consumers shop online on various different marketplaces- the most popular being Amazon, Etsy and eBay (Source: TechCrunch).
Top 3 Marketplaces
It may be mind-boggling at first but here goes……
5 Ways to sell more on Marketplaces:
1. Choose a marketplace that reflects your business.
Where you sell your products directly reflects your business and the products you sell. If your products are handmade and of high quality, then choose an online marketplace that reflects this e.g.: Etsy or Artfire.
More examples below:
- iOffer – a well-traveled commission based marketplace.
- Shop Hand Made – like the name suggests, a marketplace geared toward sellers of handmade items.
- Atomic Mall – a marketplace that has both set price and auction options.
- Sell – a marketplace organized in a classified ad format.
- Xoole – a marketplace focusing on independent sellers.
Choosing to sell on the most popular marketplaces, as mentioned above won’t automatically ensure high sales- to increase sales, you should pay attention to the next 4 points.
2. Optimize your Title.
Increase SEO with relevant keywords in your product title by researching your industry or using keywords specific to your company. Optimize headlines and create good short descriptions. As of June 2015, Amazon titles have a set allocation of just 200 characters, with some categories recommending as little as 80 characters. So, it’s important to make the most of the characters you’re allowed. Think about how you yourself search for things online – flip this knowledge and use it to benefit your search ratings. Longer titles provide a better scope for your customers trying to find your products. The more descriptive you can be in your title, the easier it is for customers to find you.
3. Get more Customer Reviews.
Customer reviews are more powerful than you think. A whopping 84% of consumers trust reviews just as much as a friend’s personal recommendation (Source: Bright Local). From a content marketing standpoint – this is gold. Reach out to customers you know have enjoyed your product and ask for an online review. Marketplaces want to be associated with popular products to boost their own profits and drive more people to their site. Online reviews are important and have major implications through their ability to affect:
- Your ranking in local search engines
- Which search results actually gets clicked on.
- Consumers purchasing decisions
4. Make your photos irresistible.
Ensure product photography is of a high quality to reflect the quality of your business. Using a plain block color background isn’t always best. Experiment with print background or a more natural setting – this may be key to attracting customers to a particular product. Customers like to see the product in a range of different angles and to see them in action (videos).
Buyers, by browsing the list of interesting items, often come across dozens or hundreds of identical things. If we are not able to stand out in this monotonous listing, the primacy will always be our competition – Alternative images, along with optimizing titles can really help in standing out from competitors.
5. Do Competitor Research
Look at how your competitors are promoting themselves on the same marketplace. What’s working for others? What do they offer their customers to attract them? Mimic the competition without losing your identity. It’s important to make sure you’re doing what they’re doing and beyond to attract customers. To be successful on a Marketplace, it is imperative that you know the following about your competitors:
- The range of products (or services) they offer?
- How their products are packaged?
- How have they priced their products?
- In what way do they describe their products and what style of marketing do they use?
Remember, there is a process involved in selling more on marketplaces – it won’t happen overnight. You need to go above and beyond to get our products to the end user, especially when you’re in competition with countless other brands offering the same products.
Best of Luck,