Every online retailer wants to strive for more. Greater audience reach, revenue, reputation gain, brand awareness, and so on. All this can be achieved by starting sales in the marketplace.

The leading marketplaces in the US are Amazon, eBay, Walmart, Etsy, and Target.

About 2 billion people visit Amazon every month. About 690 million people visit eBay. 380 million users visit Walmart. Etsy boasts about 240 million visits and Target has approximately 176 million visits every month. This is a huge number of visits and it is unlikely that a single online store website can boast that many visits.

In this post, we will share the benefits and opportunities offered by large marketplaces for retailers.

Create listings

As with working on a website, on marketplaces, it is important to work out every listing of the products you sell with high quality. It’s important to structure every detail: product names, quality photos, specifications, keywords, and category definition.

Successful listings can be used to create flawless product cards. Write an enticing description, highlight a product with a free online background remover, offer a great price, and more. Having worked out every detail, you can be sure that your product will rise in the search results and become noticeable to a large audience.

Ready-made advertising solutions

Marketplaces offer ready-made options for advertising products. You no longer need to rack your brains over large marketing campaigns and invent something new. Ultimately, you cannot always be sure that your ad campaign will be successful.

After creating listings, you will only have to choose an advertising condition for which you will be willing to pay so that your product does not appear on the last search pages.

Amazon offers a comprehensive set of brand advertisements that can help you build brand awareness much faster. You can choose to advertise individual products or display your products when customers enter highly specialized keywords.

eBay advertising allows you to increase the number of sales and audience reach by 10% for sellers who periodically take advantage of the opportunity to advertise. Sellers who regularly buy ads can increase their sales and audience reach by 35%.

Close relationship with customers

Thanks to marketplaces, you get the opportunity to have a close connection with your customers.

Warm communication with customers and quick problem resolution will help you improve your store’s ranking. Customer reviews influence 90% of other customers’ decisions to buy a product from you. The close trust you build with your customers will play a defining role in how your store operates in the marketplace.

More than half of buyers expect to be able to solve problems with a single interaction with a seller without involving the marketplace staff. On such platforms, it is important to reply to a message within one day. Otherwise, the risk of getting negative feedback increases. This factor can also affect the blocking of your store until the conflict is resolved. If you maintain good and fast communication with your customers, it will increase your products’ rankings in search results.

Price policy

Selling on the marketplace gives you quick access to your competitors’ prices. Price plays a decisive role in getting a Buy Box. You can make an automatic price adjustment that will change on its own if your competitor decides to get ahead of you and lower the price.

If the number of sales of a product increases, then you can raise the price of the product. If you see that the product is not selling well, then you can set up an automatic decrease in the price of the product from 5 to 10% in order to attract customers.

Process automation

When working online, it is important to automate as many work processes as possible. You get the opportunity to automate the transportation of goods. This way you will be able to direct the goods for delivery to the most profitable partner who will ensure fast delivery speed to the customer’s home, assign a lower price for order picking and determine the fastest route from the warehouse to the buyer’s home.

Moreover, you can use the automated inventory management service. The system will take into account the availability of goods and inform you if a certain item runs out of stock, which will allow you to quickly bring the corresponding item to the warehouse.

Customers will be able to automatically track the location of their goods and will receive up-to-date information about the delivery.

Goods delivery

You have the opportunity to work with different carriers. Among the most famous are FedEx, UPS, and USPS. If you want the goods to be delivered quickly and efficiently, then you should choose the first two options. If you are interested in a lower cost of services, then you can choose the last carrier.

You don’t have to choose a single carrier for all orders. Depending on the cost of services, your budget, and other factors, you can regularly choose any carrier for delivery.

Conclusion

Marketplaces are a great option for increasing audience reach, sales, and building brand awareness. Taking advantage of the opportunities offered by marketplaces, you can quickly become a successful retailer, which will be chosen by a larger number of customers.