Increasing online sales is the primary goal of every businesses, large and small alike. Whether you run a small retail business or work for a vast e-commerce giant like Amazon, increasing sales through online channels looks a lot easier than it actually is.
Here are the top ways to increase your sales:
Focus on coming up with your unique offer
This is one of the most effective ways to increase your overall sales. You need to be memorable! You need to have great visibility online. You can consider placing your offer on Amazon or eBay. This way you can benefit from the marketing power as well as heightened exposure for your set of products. If you are able to propose your offer on marketplaces, it can be a smart move. Also, you need to try to be visible inside the market. If you are a reseller, your offer might be associated with your set of competitors.
Certain times, you are likely to compete with many for similar types of products. In such situations, your visibility is mainly dependent on pricing plus service metrics. Marketplaces tend to promote the merchants who provide the customer with the best possible experience for the money that is spent. The sole way to put yourself above others is to come up with an attractive price with the best possible quality of service.
If you are the very first merchant who is proposing your product and if you are the only seller in the market, you will certainly have the opportunity to create the product sheet on that marketplace. You need to be responsible for this. It will certainly enable you to control the overall aspect of the offer made by you.
Keep in mind that every marketplace has its internal research algorithm. Make sure to apply the same strategy at the time of optimizing your set of products. Make sure to use Google research in a careful manner. You can even consider creating your product offer. Also, you will have the opportunity to make it visible plus saleable.
Pick your marketplaces smartly
At the time of starting out, your very first question will probably be which marketplaces you should pick. The criteria of your choice also come into play here. There are multiple marketplaces. And, you might just want to sell everywhere.
However, you must be careful that there is a vital agreement in place to get into and arrange logistics. Thus, you can start by deploying your firm to 3 marketplaces maximum and maybe prioritize to those who have lower requirements pertaining to responsiveness and customer service. This I likely to enable you to prepare in the right manner to succeed in the largest marketplaces.
Keep in mind that every marketplace does not have equal visibility. Some will have more effective SEO than others for your product type. No matter what, you must do a simple Google search for your flagship items to detect the platform which will give you more visibility. Also, remember to include a specialized online marketplace in your top choices, where they have less favorable SEO in comparison to the general marketplaces.
However, these have the advantage of providing qualified traffic and more awesome content that is adapted to specific product types. You must never forget that there are many marketplaces that are remunerated via commissions on sales and a monthly subscription that is fixed. Thus, try to anticipate the impact of this cost on your profit margin at the time of making your choice.
Deploy and centralize speed management
Once you have made your choice and your catalog, you might have to place your products in place on the marketplaces. You are required to be responsive and keep your catalog up to date to avoid issues. You can certainly decide to consult others as much as you can when it comes to availing technical assistance of some sort. You will also have to depend on your business sector plus specific criteria to help you. There are various solutions that have emerged in the latest years like tracking software and inventory management. This can be integrated into your e-commerce website. The system tends to maintain several updates from your catalog as well as order feeds between your website and market. Regular management, as well as listing process, come into play here. There are many other tools that tend to exist which allow you to automate it as well as manage different aspects of your marketplace strategy.
Try to meet marketplace requirements
Usually, marketplaces have multiple requirements that are often specific to each one. However, some are basic ones. EIN code is a common one. When the product arrives in the marketplace, it has a unique identification code which needs to remain the same. Make sure to use the code to organize the catalog. When you go ahead and place your product in a marketplace, make sure that they have EIN code. If they do not have EIN code, they will be rejected for sale.
However, there is an exception. The only exception is applicable to craft products or exclusive manufacturers. So, you must check that you have this info prior to starting out. If you do not have it, request from your supplier. Also, you can contact the authorized team of the organization to issue it. The second requirement is linked to product images. Marketplaces have risen the standards pertaining to the quality of picture and format. You must check that criterion prior to starting.
You must make sure that your logistics are able to provide the minimum level of service that is needed in the context of returns. Make sure to reference the returns time as well as the minimum response time. There are certain online marketplaces that do not wait for long prior to banning a merchant who has canceled sales.
Try to scale up for international markets
Once your marketplace strategy is in place, you can shift your focus on international sales. You can certainly extend your target and provide your products in areas where your competition is not that intense. However, before you do this, make sure to check that your logistics are running in the right order. Make sure that you can manage after-sales service in English.
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