how Logiwa uses real-time tracking to help customers get up to 100% inventory accuracy and increase shipments by 2.5x.<\/a><\/p>\nBranding<\/h2>\n
\u201cOh, I got it from Amazon.\u201d Did you ever say that before you started selling online? Honestly, you may have heard it at a family or office party. The question of course is: Did they really get it \u201cfrom\u201d Amazon? Or via Amazon? We\u2019re willing to bet the latter. This is why branding is a top concern for online marketplace businesses. With over 100 million Prime subscribers, brand loyalty is high, it just may not be for your brand.<\/p>\n
There are over 1,000 on the Walmart Marketplace and more than 300,000 U.S. sellers on Amazon. Most customers can\u2019t name a single one. Small marketplace businesses get swallowed up by the eCommerce giants\u2019 names and logos.<\/p>\n
Make the Marketplace Work For You<\/h2>\n
Most marketplaces are product focused, and that makes the sellers interchangeable for most consumers. Etsy is an exception to this. Once a customer finds an item to click on, they see other items listed by that seller on the page. When Amazon shows additional items, they don\u2019t consider presenting the same seller. It\u2019s usually \u201cOther Amazon customers who bought \u2018X\u2019 also looked at these items.\u201d<\/p>\n
![\"Promoting](\"https:\/\/cdn2.hubspot.net\/hubfs\/3469233\/ink%20(17).png\")
<\/p>\n
Why are they different? One of Etsy\u2019s brand pillars is unique gifts made by people. The different sellers are a part of their brand and marketing strategy. The same isn\u2019t true for marketplaces like Walmart and Amazon. For many marketplaces, you can\u2019t even customize your storefront, further removing your brand from the products you\u2019re selling. So what\u2019s an online seller to do?<\/p>\n
Treat Your Brand Like the Asset It Is<\/h2>\n
You have to place your brand out there for customers to engage with. Do your market research and understand where your customers like to be. Do you target a demographic that loves Instagram? Or maybe busy folks who appreciate a great newsletter delivered to their email? Find out, and engage your customers the way they prefer.<\/p>\n
Reviews and Customer Service Are Key<\/h3>\n
Many marketplaces place the burden of customer service on the sellers. You often don\u2019t get to engage with customers unless there is a problem. This makes your online presence (like your website and social media) even more of an asset to you. Reviews are hard to come by for some marketplaces. One out of every three eBay buyers leaves a review. For Amazon, the average is around one out of every thirty.<\/p>\n
Build a strong following with your customers off of the marketplaces. You can engage with them on social media, through email marketing, and your website. Many happy customers for get to leave reviews. Ask your customers to leave a review of your product. Include the link for them. When you make leaving a review as easy as possible, you’re more likely to get one.<\/p>\n
Besides helping you connect with current customers, reviews influence potential customers. Around 88% of customers polled for a Zendesk report said that customer service reviews influenced their buying decision. So put some effort into getting those reviews. Most customers won’t make a purchase without reading some.<\/p>\n
Lower Profit Margins<\/h3>\n
Marketplace selling is a key to many eCommerce businesses\u2019 success. No one can deny the amazing reach these platforms have. We shudder to imagine the amount of ad spend you\u2019d have to commit to have the same visibility. That being said you must keep in mind that these marketplaces are looking make a profit as well. When you make a sale, so do they. There are a lot of little (and sometimes big) things that chip away at your actual profit.<\/p>\n
If you plan for these fees, then you can still come away with a decent profit margin.<\/p>\n
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Request a free demo to learn more about Logiwa WMS.<\/h3>\n
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