Marketplaces ChannelAdvisor By ChannelAdvisor

Driving Growth Through Marketplaces

The opportunities to drive expansion and leverage the power of marketplaces are enormous, but we know that it can be overwhelming. That’s why, together with Power Retail, we have put together a Special Report, Marketplaces for eCommerce Success, which you can download here.

For a snapshot of what this report has to offer, here are some key takeaways on how you can drive growth through marketplaces:

  • Strategy

There is no need for guesswork. Look at your competition, develop a pricing plan, see what works and what doesn’t overseas and ensure you’re listing your products broadly to be seen by a potential customer looking for you. This is why listing across various marketplaces is also vital. Let technology guide the way. The right partner can align with you to streamline your processes, save you time and money and ensure you’re working towards your business goals and can grow successfully. Whether you have marketplace experience or not is irrelevant. You can partner with the right technology providers to get decades of marketplace support behind you.

  1.    Rating and Reviews

Ratings and reviews exist to weed out poor performing sellers. The marketplace itself could investigate you if you’re getting negative results. From a positive perspective, it also means that a customer who is unfamiliar with you can automatically feel a sense of trust if you have great ratings and reviews. Ratings and reviews have a huge role to play when it comes to growth, attracting new customers and leveraging your brand. Ensure you’re encouraging your customers to leave feedback by excelling in your customer service and product offerings.

  1. Competitive Pricing

Amazon changes pricing on its millions of products in a 24-hour period (sometimes altering the price of a single product up to 8 times in one day). This isn’t something you can manually keep on top of which is why it’s important to let the technology work for you. It’s a tricky balancing act to ensure that you have competitive pricing, with the best opportunity for prominent positioning, while also remaining profitable. ChannelAdvisor’s Algorithmic Repricer helps you win the Buy Box while maintaining profit.

To find out more about your can make the most of the marketplace boom in Australia and scale successfully, download our latest report or contact us today.