Making The Most Of MarketplacesMarketplace Management
Fulfilment is key – keep up with demand, hit targets. But don’t be too frightened of the big marketplaces. They set out requirements to ensure the customer experience is the best they can offer - not to trip you up as a retailer.
Recoup the benefits of working with a well known, trusted brand – e.g Amazon. It’s the first port of call for so many online shoppers - and with trust comes the confidence to spend.
Identify the opportunities – what are the product categories that will work best on Amazon or eBay. It might not be the right move to put all of your products on marketplaces. A bit of analysis into your product ranges before launching can make all the difference to the results.
Don’t be frightened – yes, as we’ve said, there are rules, regulations and boxes to tick. But the setup and maintenance is not too taxing. Speak to the Docnet team for more details about M3 – our marketplace integration software that keeps the whole process of listing on marketplaces so much simpler to manage.
Average percentage of revenue some of our clients take from marketplace sales ranges from 5 to 10% - that’s a decent chunk of sales coming into your business over and above your other online efforts.
Yearly targets and reviews – these are key to marketplace success. Ensure you have a goal to aim for – reassess and realign your strategy if necessary.