From 2017 to 2022, retail ecommerce sales in the United States have more than doubled, jumping from $425 billion to more than $875 billion. Story is very similar in other emerging economies such as China and India.
This growth in ecommerce business has a direct impact on all kinds of companies. According to some research reports, 55% of the businesses selling on marketplaces have profit margins of over 20%. At the same time, another poll indicates that 43% of small businesses experience sizable revenue growth with online sales. Therefore, if you want to expand your ecommerce business or increase revenue from your online sales, listing your products on online marketplaces is a must.
Marketplaces allow you to quickly gain access to large customer base, even if you have your own eCommerce enabled online store. There are many marketplaces that cater to individual industries and business types (B2B or B2C).
We can help you select the right marketplace, set it up and even manage your campaigns on an ongoing basis.
Advantages of listing your products on marketplaces
Disadvantages of listing your products on marketplaces
Before you jump into listing your products on any online marketplace, you need to first identify the most suited and appropriate online marketplaces for your brand & products. Not all marketplaces are created equal. Selecting and listing your products on a marketplace not suited to your products, could cost you not only marketing money but also wasted effort, causing frustration.
Every online marketplace has its own unique requirements, product categories, listing fees and audiences. You’ll also want to understand the different strategies for marketplace sellers – which ones hold the most promise for your products, what you need to do to ensure a smooth start etc. You also need the ability to manage your catalogue & updates on each one of those marketplaces. And biggest of all, if the marketplace provides a platform for sellers to advertise their products, you need the ability to setup those campaigns, manage and optimize those campaigns on an ongoing basis.
Hence, you want to make sure that you do upfront research on marketplaces to determine which ones are best suited for your products, and also your own internal skills capability to manage these listings.
Identifying the right one for your business, to setting up your product catalogue, managing them on an ongoing basis, designing, setting up and managing those marketing campaigns on the marketplace etc could all be very daunting and time consuming. We simplify it for you.
Our Offerings in Marketplace Management
Our Marketplace Management Services offers you a comprehensive end-to-end services – marketplace identification, Configuration, Setup, and ongoing Catalogue, Bid and Campaign Management. We use both platform provided and other 3rd party tools to analyze and reconcile data and derive actionable insights.