Selling on Marketplaces eBook

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Selling on Marketplaces eBook

  1. 1. Listing Your Products on Online Marketplaces
  2. 2. About The Author Jared P Shaner A student of the game who believes there are no limits to learning nor humility. I absolutely love staying on top of the emerging trends and technologies for my clients and learning from those far wiser than myself. Ohh and I’m a Makers Mark Ambassador so it’s fair to say I love me some bourbon and the fine smell of mahagony About Plum Tree The Plum Tree Group is an Interactive Marketing and Technology firm, we work to implement enterprise level eCommerce solutions leveraging Magento Commerce. jared@plumtreegroup.net plumtreegroup.net @Jaredism www.linkedin.com/in/jaredshaner/
  3. 3. More Customers = More Sales Listing Your Products on Online Marketplaces If you're planning on launching, or have recently launched, a new site and are looking for a way to increase sales quickly...you may consider marketplaces. Marketplaces frequently get confused with comparison shopping engines, but there's actually a substantial difference. A marketplace will hold a summarized version of your inventory for you and then have established brands stand behind your products, giving them credibility. Additionally, as opposed to comparison shopping engines, marketplaces will have strict regulations that you must meet before being displayed on their site. Examples of such sites are Amazon, Sears, and Ebay. While marketplaces may be an entirely different game, requiring it's own sales model, it can be the initial lift in traffic and sales that you need. 1
  4. 4. Things To Consider When Choosing A Marketplace Does it effect my brand? Is there a similar business model? Be careful when choosing a marketplace, because you want to make sure it represents the culture and feel of your brand. Some marketplaces can come across as “discount-y”, while others may just pick up on a demographic that isn't your target market. Both of these things can be good, if that suits your brand You want to make sure the marketplace you've chosen has a similar philosophy when it comes to business. Without this agreement, customers may be confused and experience a lack of consistency in things such as response times, shipping rates, shipping time frames, and return polices. You don't want to confuse or annoy customers. 2
  5. 5. Things Ton Consider When Choosing A Marketplace Avoid internal competition You want the price of your products to be the same in your online store and marketplace. Fluctuating prices can be tempting if you're trying to capture quick sales, but think about your brand with a long-term lens 3
  6. 6. Why List on Online Marketplaces? There are a number of reasons why a company should list its products on an online marketplace. But what are the top reasons why you should do so? How Online Marketplaces Make Your Life Easier Reach • Online marketplaces have their own, rather large, audience • Gain access to larger potential customer base Larger audience = larger possibilities of buyers Comparison Shopping • This can be good or bad, but… • You products are displayed next to similar brands Show potential buyers why you’re better than the competition! 4
  7. 7. Why List on Online Marketplaces? There are a number of reasons why a company should list its products on an online marketplace. But what are the top reasons why you should do so? How Online Marketplaces Make Your Life Easier Fulfillment Options International Business • Ex: Amazon • Alleviate any inventory storage issues Say goodbye to annoying, needy customers and shipping issues! • Marketplaces have figured out how to sell overseas…so you don’t have to Reach even more customers by being accessible across seas. 5
  8. 8. Why List on Online Marketplaces? There are a number of reasons why a company should list its products on an online marketplace. But what are the top reasons why you should do so? How Online Marketplaces Make Your Life Easier Increase Revenue • It was found that retailers derived almost 15% of sales from marketplaces! It’s simple. Let the marketplace help you make more money. 6
  9. 9. The Major Players in the Game 1 Amazon 2 Google 3 Rakuten 4 Newegg 5 Etsy 7
  10. 10. Amazon E-tailer in the world 137 5x Million customers/week Users are 5x more valuable than eBay users 8
  11. 11. eBay 68 Reaches over 68 million people in the US/month. Over 100 million people worldwide. 175 1.3 Billion dollars in sales in 2013 Million people make a living off of selling on eBay Auction-style selling 9
  12. 12. Rakuten A Japanese electronic commerce & Internet company – going global B2B2C E-commerce site in Japan 4.7 Billion dollars in revenue in 2013 10
  13. 13. Newegg 2001 Founded in 2001 3 #2 Billion dollars -- net worth Online-only retailer 11
  14. 14. Etsy A marketplace focused on handmade/vintage items 30 Million registered users as of August 2013 1 1 Million sellers Billion in total annual transactions 12
  15. 15. The Must Have Software For Making Your Marketplace Work For You ChannelAdvisor ChannelAdvisor is a provider of cloud-based, or Internet-hosted, e-commerce services that enable retailers to increase profitability through dozens of online channels including Amazon, Google, eBay, Facebook, and more. Through automation, analytics and optimization, ChannelAdvisor leverages a single inventory feed to connect suppliers with shoppers to increase sales 13

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