The Marketplace is known as a kind of virtual shopping mall which has numerous advantages when compared to its own ecommerces. It makes it easier to find a product by bringing together several brands and stores in one place. In the marketplace, customers find competition, which means more choice and better prices.
With the evolution of the internet and the increase in the number of people shopping online, more businesses have started to connect and use this channel to distribute their products. A Marketplace is a community or a place where people and companies meet to do business, buy or sell something. The main advantage of using this strategy is visibility. Selling products on a marketplace means being able to be found more easily by the buyer.
Some examples of Marketplace are: B2W (Americanas, Shoptime and Submarino), Magazine Luiza, Carrefour, among many other stores.
The increase in results is a consequence of positioning within these platforms. The better your delivery service, the better your customer relations and the more referrals you get, the more sales you'll get.
In this article I'm going to show you some of the advantages of expanding your business to the Internet and how Marketplace strategies can boost sales results.
1- Marketplace management
You can't sell what you don't have. Knowing this, it's very important to keep track of your products and sales processes. In other words, keep an eye on updates on the platform, which goods are available, which are coming in and which are going out. Also pay attention to stock control, which products are selling best and which need more visibility.
Marketplace management makes it easier to organize and control everything in a way that is beneficial for more results. It also helps to identify problems in the sales process more quickly, simplify compliance with deadlines and prevent future complaints and conflicts with buyers.
2- Market Analysis
Companies that focus on market research are always one step ahead, so they win their victories by ensuring that their brand has its share of the market.
Market analysis is essential for making more confident decisions, identifying mistakes in time to correct them, discovering the strengths and weaknesses of the competition, among many other benefits.
Knowing what the market is like at the moment and which way it is going will make it easier to make the right strategies to achieve successful results. We know that the market is constantly changing and being aware of new trends and demands will be totally valid for increasing sales.
3- Search for more niche marketplaces
In the world of online shopping malls, there is no exclusivity requirement. This means that shopkeepers can sell their products on several marketplaces at the same time. This diversification strategy brings incredible results, precisely because the merchandise can be found in several places, even if it is already advertised.
A major advantage is the diversification of income sources. There are benefits for the business's cash flow, as each marketplace passes on payments on specific dates, reducing dependence on a single payment.
By advertising on more than one retail chain, you can broaden the number and profile of potential customers. It's common for customers to be loyal to certain stores, and this gives the buyer confidence because it's their platform of reference.
4- Ads tracking
Creating ADS campaigns without thoroughly measuring statistics is a shot in the dark. By luck you can get good results from your campaigns, but relying on luck is not enough.
Searching for relevant information about your products, such as: search volume, number of purchases, among others, will help you create targeted campaigns with a higher conversion rate.
Once the campaign has started, you need to continue monitoring the metrics so that you can see in "real time" which products are generating the best results and which need to be changed.
This monitoring is necessary to check whether it is worth investing in certain ADS campaigns, how the reach of the products is going, etc. With this data, actions tend to have more assertive results.
5- Differentials and positioning
In a shopping mall, for your store to be chosen, it needs to attract extra attention. In the online world, it's no different. You need to have something that stands out and instigates the shopper to choose your store and your product in particular.
Although this niche is broad, you will still have competitors. Your differential will be a great ally for your product to be chosen by the buyer. That's why you should look for your differential, which could be in the product, the price, the added value, the delivery method or the service.
You also need to have a well-defined positioning, thus avoiding unnecessary waste or mistakes. That's why you need to be careful when choosing the marketplaces that sell your products. The ideal niche marketplace should have an audience similar to yours, which likes the same things and has high purchasing potential.
Conclusion
In this article, I'll show you the main points of how Marketplace strategies can give your business incredible results. The online shopping world is expanding more and more, so your physical store may no longer achieve the same results as an online store.
Nowadays, it's common for people to use their cell phones more for shopping than to go to a mall or look for physical stores. The Marketplace will make it easier for your products to be seen and found.
I would like to take this opportunity to present LEAN Marketplace ImplementationWith this service you can make your products available on the biggest platforms on the market, with a specialized team to implement and manage your Marketplace.