Marketplaces — An Online Retailer’s Best Friend?

By March 20, 2016April 25th, 2017Marketplace

Retailer’s Are Spending More On Online Marketplaces

Online retailers are always looking for an edge in the ever changing ecommerce landscape . They’re looking for ways to reach more customers and stand out from their competitors. That’s why in 2016, retailers plan to spend 32% more to sell their products in online marketplaces.

Are you one of these retailers? Here’s why maybe you should be.

What Is An Online Marketplace?

In an effort to ensure we’re all on the same page, let’s briefly discuss what an online marketplace is. If you’re familiar with Amazon or eBay, then you’re familiar with online marketplaces.

Online marketplaces are virtual spaces on the internet that retailers can go to to sell their products. Retailers pay a percentage of their sales in order to gain access to the built-in audience of these marketplaces.

Some of the most popular online marketing places out there include:

All signs suggest that more and more users will flock to these online marketplaces to do their shopping, meaning these virtual spaces are exactly what the doctor ordered for retailers hoping to increase sales.

The Benefits Of Using An Online Marketplace

Reach a wider audience

When it comes to big-name sites, like Amazon, more often than not retailers will see a return on their investment and then some. Last year, Amazon had more than 190 million monthly visitors. With that kind of traffic, it’s no wonder that retailers reported an average increase of 50% in sales.

Impressive. With very little effort and time on your end, you’ll reach new, global audiences in an instant, in an interface that most people are already familiar with.

Push your branding

Many retailers fear that if they push their selling hard in online marketplaces, they risk losing out on their brand recognition. But statistics show that’s simply not true. Customers who shop on sites like Amazon may have never heard of your brand, but they have a need and, if you’ve optimized your products, they may come across your offering.

In other words, they’ve discovered your brand. If you sell a quality product, and provide the user with a good experience, then they’re more likely to become brand loyal, and will return to you when they want other products in the future.

How To Make The Most Out Of Your Online Marketplaces

Here’s the beauty about online marketplaces: it doesn’t take too much time or effort to get started. However, that’s also a potential downside.

Because it’s so simple to get started, many retailers set it and forget it. But your little corner of Amazon, eBay, or wherever, needs to be optimized in order to stand out in the crowd. This includes using powerful and clear images and descriptions for your products.

OperationROI can help. We have a dedicated marketplace team that will audit your current needs and strategies and develop a plan that’s specifically customized to you, your niche, and your audiences. We encourage you to contact us directly at 1-888-277-5429 or by filling out our contact form to get started on leveraging the power of online marketplaces.

Marketplace Success Starts Here!

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