Ecommerce diversification – how to sell more? Online store or marketplace?
How to sell more?
Sooner or later, each entrepreneur face the question of how to sell more? Even though the solution is not the easy one, it is still possible. You have to realise, that by selling only on one marketplace, your competition can eventually dominate the market. What will be your solution then? Many companies went bankrupt because they focused only on one source of income. It’s not the worst way of doing business, but it can only work in the first phase of a company’s growth. The more time you are present on the market, the more you should think about different ways of acquiring your customers. It will not only increase your sales, but also it will give you a kind of protection.
To grow your business faster and provide it with better stability, find more information on how to diversify your business below.
Your brand’s store should be your primary sales outlet. It is usually the cheapest online solution for your business and allows you to build your brand with almost no restrictions. The sales fees are much lower on the SaaS platforms than on marketplaces.
If you run an offline store, such a solution should be the first step into the e-commerce world. Not only does it allow you to offer your customers an additional sales channel, but also to attract new ones from a much larger area.
To get more insights into the SaaS solutions we mentioned above, read our article “Which e-commerce solution to choose for your business?”.
You have to remember that building your store is not an endpoint, and sales will not appear by themselves. Marketing activities are the key here, and they require a lot of your resources. At this point, your future customers do not know you exist, and you have to present yourself to them by advertising. SEO is another necessary step – in this case, Google will help you succeed. In 2020 Google reported 92 billion website views. It is the largest web browser, having a 90% share in the market. Ads are visible at the top of the search list, but, in the long term, organic search gives you “free” traffic on your website.
Focus on building your brand identity and increasing brand awareness on your website.
What are the pros of having a brand website?
- Building your brand identity
- Having your customer base you can interact with
- Reaching a wider audience than in an offline shop
- No store blockades and complete control over it
- Lower costs of maintenance
- You can offer your customers better prices due to lower maintenance costs
Running your store takes time, and it’s a long-term process to acquire new customers. It takes a lot of work and resources. But after all, you should work on it so it will build a brand identity and your brand will be widely known. You shouldn’t also take SEO for granted, as people search everything in Google. Although, it can help you acquire new customers.
Marketplaces – an additional source of sales
The most important and the biggest advantage of marketplaces is the number of marketplace users. Apart from this, it is nice that you don’t have to worry about technical issues, as the platform itself is responsible for those. At the start, our main task is to present our products in the best possible way. It’s also good to integrate your account with the brand store.
Remember that there is no room for mistakes in customer service and order fulfilment on marketplaces. The quality of our service needs to be at 99%. Otherwise, customers can leave us negative feedback, which can eventually lead to a block of the account. A large group of competitors on the market also affects our products’ listings, as we become less visible. It’s much more difficult to promote your brand on marketplaces, as customers are looking for particular products. We want the customer to understand your message and the benefits of using your product.
Running your online store is a perfect way of diversifying your business. Your website will not be blocked, and it will help you get through while you have some issues with other marketplaces. Although, you have to work on profitability. The truth is that your website builds your brand, and using marketplaces increases your sales quite dynamically. If your brand is recognisable, the customers can go directly to your website. Thanks to the loyalty programs or special offers for new customers, they can switch permanently from the given marketplace into your dedicated store.
If you’re wondering how to sell more and want professional website service, take a look here. If you already have an online store and you still ask yourself how to sell more, use our sales services on Amazon, just contact us to cooperate.