What is Marketplace?
The marketplace is defined as an e-commerce site where products are provided by many different third-party vendors and processed by market operators. Examples Lazada, Shopee, and 11street.
Many of the sellers are complains about their sales low, because of no luck on the website that they have built. But luck is not the fact to increase sales, is the fact on how you promote your website and integration! Here we will tell you about that advantage of integrating marketplace.
What are the benefits of making a website integrating with marketplace?
Marketplace and own e-commerce website
We examine selling products on the online marketplace or on your own e-commerce site. We also looked at a hybrid approach that you can take advantage of both platforms. When making this decision, think carefully about what type of business you want to create, how quickly you want to generate revenue, and how you plan to differentiate yourself in the customer’s mind. Doing it will put you in a good position to dominate any sales method of your choice.
Two or more above marketplace can increase sales
One of the main reasons for having marketplace is that it can increase your sales by a factor of two. You can enter the market by owning 4-5 stores and selling similar products. Price-sensitive buyers typically search for the product they are looking for, click on the store and make a purchase. Therefore, having 4-5 stores means you have a higher chance in the corresponding market.
Redirect customers more streamlined on your own website
What you have to remember is that not every customer can buy it right away. This means that they are logged into your Shopee, Lazada or 11Street product list or your own website and they may not buy it immediately. However, another benefit of selling products in your own store is the ability to reposition your customers. It works by using cookies to keep track of what customers are looking at and then sending them super-personalized ads to remind them of what they are browsing when they are in other locations on the web. This is usually enough to generate sales.
Use smart pricing strategy
When you have 4-5 stores in the market, you can create a psychological pricing effect, so maybe 4 stores selling the same product but at a high price and 1 store selling at a lower price. Therefore, this will attract buyers to buy lower-priced products, but fact is the store is still owned by yourself!
king of the search engine in the website. So mobile friendly website is very important.
High traffic on the marketplace
One of the difficulties many e-commerce owners have when launching their own websites is that they have a hard time generating traffic. They spend a lot of time building a beautiful website with some great products that they think consumers would like, but the problem is that no one visits their website. The first solution here is to spend money with SEO experts to help create content and drive your site to further improve Google rankings. Second is to spend money on buying paid advertising and directly provide quality services to potential customers. For a new e-commerce store, the money may be tight, which may not be a viable option if you want to make a quick profit. But let’s take a look at the marketplace. If you look at Shopee’s or other marketplace total traffic, you’ll see that there’s already enough traffic on the site to help you generate traffic. Therefore integrating with the market place will increase your traffic!