5 Best Practices for Selling on E-Commerce Marketplaces

To sell more online, you need to be in the market.

Of course, you already know. Experienced brands and retailers know that to compete online, they need more market share from Amazon’s 100 million Prime members, 168 million active eBay buyers worldwide, and 127 million visitors Walmart per month.

What you may not be aware of is the wide variety of opportunities that can be used to dominate this and dozens of other markets. From price to advertising, mountain ranges increase every month. If you don’t zoom in, your competitors will.

In short: the days of simply listing on modern markets are over. There are advertising campaigns to manage, cash positions to buy to compete and execution processes to streamline. And that’s just the beginning.

 Best practice 1: Targeted market advertising

If there is a big challenge that any veteran e-commerce company faces, it is this: until you develop a solid marketing strategy, there remains an uphill battle to stand out in the market. Without the right ads, your ads will never appear at the top of search results or reach the right customers. If you want to increase visibility and sales, strong marketing is essential.

From Amazon:

Sellers who use a full set of adoptions on Amazon generally grow two to three times faster than those who don’t.

  • Amazon-sponsored products can be used to promote individual offers. This type of targeting results in higher quality clicks from buyers looking for very specific keywords associated with your product and can generate a much higher ROI than many other pay-per-click programs.
  • Amazon-sponsored brands can be an effective way to reach consumers who are looking for but still don’t know what to buy. These banners promote products just above the search results to alert more people about the items you are selling.
  • Amazon coupons allow you to create attractive promotions in the form of digital coupons that appear in the results of market research. Offer percentage or dollar discounts and target targeted customer segments whenever possible.

On eBay:

eBay Promotions Manager and promotion lists increase sales and reach 11% and 30%, respectively, for regular sellers

  • eBay Promotions Manager is designed to help sellers create attractive offers that capture the attention of buyers and encourage them to spend more. You can use it to promote business and provide incentives that reward customers for stretching their wallets.
  • EBay’s promotional offers show your ads to consumers looking for specific products. These ads track shoppers on their shopping journey, with channels highlighted in search results, product review pages, related articles, and more. You only pay when there is a sale, which makes promotional ads a very cheap and risky strategy.

Best practice 2: Optimized product content

There is a list of products that buyers see and a list of products that people buy.

The difference? Optimized product content.

It’s not just what you list, it’s how your offers are structured. Titles, images, descriptions, keywords, and product categories force consumers to buy. The more engaging the content you use to market your products to the world, the more likely an ad is to be at the top of search results and generate more purchases.

As product data is sent to markets and transformed into offers, high-quality content can make the difference between a great product and a buried product, so an increasing number of retailers and brands are relying on robust data feeds to ensure that the product is up to the brand. requirements. not only does it meet the unique standards of each market, it is also noticed.

Best practices n. 3: contact customers

How do you get in touch with customers on Amazon? What can you do to provide exceptional customer service through eBay and Walmart? How do you get people to come back and buy directly from your brand the next time they sign in to Google Express? The way you interact with consumers has a direct impact on sales and loyalty. About 54% of consumers stop doing business with a salesperson when they have a bad customer experience. But it offers great experiences and is likely to be a recurring business. In markets, it takes many different forms, including:

Reviews and ratings:

In general, your main focus should be to maintain positive ratings and comments wherever you sell. Seller ratings from other consumers influence the purchasing decisions of 95% of buyers. The way you meet a consumer’s needs can influence the purchasing decisions of almost 100 others. The trust you build in the process will go a long way towards connecting with customers across all channels. For example, at Walmart.com, feedback from sellers in other markets is an important factor in analyzing requests for this invitation market.

Response times

In the digital age of live chat and social media, consumers don’t want to wait. Almost 40% expect problems to be solved in an interaction. Responding to complaints and inquiries is so important that markets have coined a term for this: Contact Response Times or CRT. According to Amazon, requests with messages answered within 24 hours receive 50% less negative feedback than messages with a response time of more than 24 hours. In fact, poor performance in this area can lead to account suspension, while high CRTs can increase your chances of winning bigger selling positions, like Amazon’s buy box.

Returns

The way you manage the return process is a big step towards ensuring customer loyalty and benefits. While more than half of online shoppers avoid sellers with strict refund policies, the opposite is true for more generous shoppers: 95% will continue to buy products after a positive return experience.

Answer customer questions as quickly as possible, preferably in one day, and don’t forget about weekends, as this counts in response time.

Best practice 4: structured pricing strategies

As buyers focus more on the wide range of options to buy the same product at different prices, it will no longer be the details and images of the item that will catch your eye. The price plays a central role. And having a structured pricing strategy is essential for success in the market. Two main areas are:

Automatic recovery

Rules-based or algorithmic, it is a must to compete in any large market. If you want to adjust prices based on competition or generate higher profits in the Purchase Box without sacrificing revenue, the repricing tools will make these changes take effect immediately. The key is to use a system or tool that you adapt to competitive prices across all channels – think of Amazon and eBay, as well as Walmart and Google Express – so you can reduce the risk of market breaches.

Performance-based pricing

A strategy that uses business rules to create a dynamic pricing structure that automatically adjusts based on sales performance. When sales fall, the price also falls. If orders are placed more often, the cost of the item increases again. For example, if you want to keep a product active, you can automatically reduce the price of a product by 10% if no more than five are sold in a week.

Best practice # 5: automatic compliance

If you include a lot of spreadsheets and manuals in your response operations, it’s time to put things on autopilot. The more you automate, the better equipped you are to streamline delivery times and reduce delivery costs. For example, successful salespeople often use:

Intelligent order routing so that each order is sent to the most efficient fulfillment partner based on shipping speed, delivery rates, warehouse uploads, and other factors.

Automatic inventory management to ensure that inventory levels in different markets are always up to date.

Automated shipping tracking to automatically mark packages as “shipped” as soon as delivery begins and to ensure that customers have the most accurate and up-to-date information on the location of packages.

The future of e-commerce markets

Markets are great channels that can increase your online presence and improve your performance. But standing out in the face of so much competition is a common challenge for brands and retailers. By following these seven proven practices, you can connect with more customers, streamline operations, and ultimately increase sales like never before.