In the earlier part, we discussed about what successful sellers actually do to get their sales figures on track and get categorized by marketplaces as “serious” players and also get pushed by them for free. We learned that such sellers list their products in the right categories on respective marketplaces; they always strive to satisfy the end users by honoring their SLAs through dependable logistics partners, and their product catalogues are neat and their content (product descriptions and images) impeccable.
Marketplaces offer their assistance in the following ways.
Sharing critical insights and inputs with sellers
Once a seller starts generating good order volumes through these means, they start getting the attention of the respective marketplace. It is no secret that marketplaces have critical insights about the performance of all their listed products and also about the buying capacities and preferences of people from different parts of regions in which they operate. These marketplaces then start pushing such professional sellers in getting more business on their platform. They share invaluable inputs and insights with their best-performing sellers and help them to perform and sell even more.
Offering advice on targeting customers and price comparisons
Based on their internal insights, marketplaces guide such sellers about geographies and regions in which particular products do better and where they should target customers for better output. They also share with sellers the product price comparisons vis-à-vis other sellers so that they price their products competitively.
Advising on types of promotional activities and their scheduling
Marketplaces also make their sellers aware about the types of promotions that really work during specific time periods. Sometimes they ask sellers to run the buy-one-get-one free campaign, while at some other time; they push sellers to run some other specific campaign. As for the time of sale, marketplaces also ask sellers to open their sale window either in the morning, afternoon, or evening, depending upon their knowledge as to when maximum customers buy stuff online. They also guide sellers about weekends on which they should schedule their promotional activity and also whether they can increase/decrease their product prices for maximizing profits on such days.
Marketplaces use all their experience, data, statistics, and analytics to arrive at invaluable insights for their sellers. They have specific insights about the when, where, and how of online selling, which has maximum probability of success for sellers.
*With global marketplaces set to own 39% of online retail market in 2020, their importance cannot be stressed enough in the eCommerce world.
Naturally, sellers cannot get access to such invaluable insights without the help of their marketplaces. And marketplaces share these rare fortune-changing insights with some sellers absolutely free! Hence, it is very important for a seller to pay attention to the size of their catalogue, the kind of seriousness they display in their business processes, the quality of their products, content, and services, and their SLAs with marketplaces. These are the only aspects that can give them adequate order volumes for marketplaces to consider helping them to perform better.
SaaS-based SelluSeller can work wonders for such sellers who want to increase their sales volumes by using all the right means. It not only streamlines a seller’s regular online selling operations, but also takes care of product creation and listing, pricing, inventory, order and logistics management, and current and future (scheduled) promotions management.