When And How To Take Advantage of New Marketplaces
Here on the podcast, we talk a lot about Shopify-centric topics and it’s no secret that we love the Shopify platform, but it would be remiss if we didn’t tell you about other places you could and should be selling your products. So today we’re going to cover why you should be selling your product across multiple marketplaces and tell you how you can make it happen.
The ecommerce climate is incredibly competitive today, as customers know they have multiple options when it comes to getting a single product. They may know to buy something directly from your brand’s website, but even if they know this, so many consumers will fall back on familiar patterns like searching on google and using google shopping, or just going straight to Amazon or eBay.
Key Advantages of Selling on Multiple Marketplaces
Selling on these marketplaces will allow you to tap into these consumer patterns, so that you reach more customers that wouldn’t have otherwise seen your product. To reach the most shoppers, you’ll want to look into marketplaces like Amazon, of course, Google, Ebay, Walmart and there are so many more of these big guys that have tons of consumer traffic and will get your product in front of millions of buyers.
Diversifying where you sell will also increase your chances of making a sale, and this isn’t just because of the traffic on these marketplaces. Different marketplaces have a different look, a different vibe, and different rules that will all influence how your product is presented to shoppers. This essentially means that you’re able to pitch your product in a different way, and still close the deal. You don’t just have one shot.
Selling across various marketplaces also gives your business more security. For example, as we all know, Amazon frequently changes their rules, adjusts seller rates, and can just plain suspend your product, and they’re not the only marketplace doing this. If you’re only selling on Amazon, you could be losing on significant revenues if something like this happens and your only shot for selling the product is lost until you figure it you. Selling your product in two or even three places, means that if you run into an issue with one channel, you’re still at least able to sell your product elsewhere while you troubleshoot the issue.
Quipt: A Tool for Selling on Multiple Marketplaces
These reasons are compelling, but there is also a lot of work involved in selling on different marketplaces, which is why it’s essential that you use the right tools, and here at ONELIVE we’ve partnered with Quipt, a platform that makes selling on multiple marketplaces as streamlined as possible, so you can confidently move forward in increasing your profit and reducing your operating costs.
Quipt Features: Monitoring Inventory & Listing Products
The Quipt inventory module a ton of useful information for seeing what products you have in stock, cost of goods and recovery of those costs, and the suggested retails price (SRP) that you send to each channel. From the inventory page, you can also click into each product to see which marketplaces it’s listed on, that channel’s listed price, and more. From here, you can easily activate or deactivate which channels the product is listed on, simply be moving the toggle to ‘ON’ or ‘OFF’ and filling in the SRP. Getting your product live on each marketplace is so easy! Once an item is listed on a new marketplace, you can even schedule things like special pricing promotions.
Quipt Features: Order Tracking & Fulfillment
Through the Order Module of the platform, you can view all orders that have been placed and the platform even monitors the order to make sure it’s been shipped on time and wasn’t somehow missed in the shipping process (because as we know, these things sometimes happen). Through this module, you can also move through the full fulfillment process by printing pick lists, packing slips, and even the carrier shipping labels.
Quipt Features: Native Customer Support Tools
The Service Request Module allows you to handle any scenario in which a customer reaches out about their order. Since Quipt saves all order data, you can easily search for a customer’s order by a variety of parameters. You can then do things like reship a product and even send a pre-paid shipping labels for a return directly to the customer’s inbox. You can then document the nature of the service request and include information like resolution type, reason, and even add custom notes.
Reach out to learn more!
While you may be selling on multiple marketplaces, it doesn’t have to feel like you’re running several different businesses! Platforms like Quipt, which offers the best end-to-end solution for managing marketplace expansion and post-sales processes.
Please feel free to email me directly with any questions firstname.lastname@example.org or go to onelive.com/start.