Many businesses fade out within 3 months of setting up their first store on the marketplace (Daraz, Yayvo, GoCart, etc) and they are far away from setting up their own website. It is a smart choice to set up the store on local marketplaces before setting up the website so that, you can learn the dynamics of online-selling and test the market before launching your own website.
Here are the 5 Easy Steps to boost sales on marketplace
Update marketplace settings like profile, shipping, payments, logistics etc.
Many store owners do not update their details on the marketplaces and face problem at various stages. For example, they may be stuck at shipping, payments and/or customer support. Many businesses didn’t even GoLive due to incomplete information.
High Define Products Portfolio
Many businesses make a big mistake by not putting a high-resolution image and description on the marketplaces. The product portfolio plays an important role. This is a one-time investment, and you can use your product images and descriptions at various marketplaces and social media.
- There must be at least 5 images for each product
- Your product title must contain highly searched keywords/tags on Google (see Google Keyword Tool)
- Product short description can be around 200 words
- Product long description can be around 300 words
- Within the long description, other products can be promoted. For example, if you buying shirts, we also have ranging of ties to choose from.
Test run your venture.
First, 10 order should come from friends and families just to check how you are doing on the marketplace this first-order helps you in many ways. In marketing terms it can be called as a focus group and mystery shopping.
- It helps you to understand how to receive and process the orders
- Analyze the best logistics to send out orders
- Acquire 5-star ratings from your families and how to communicate with them.
- Setting up accounts on marketplaces, vendor and logistics to analyze profit and loss.
Multiple Selling Point
As per a research, an online retail business grows if it has a presence on at least 5 avenues which could be few marketplaces, store on Facebook, webstore on domain and WhatsApp. So, buildup the store on all these places before you launch so that, you may generate few orders from each of the touchpoints.
Always maintain the MRP (maximum retail price) and give a discount on it. This way you can reduce/remove the discount down the line when your stores start getting popular. Instead of spending the entire promotion budget on marketing, do spend some portion on coupons, free shipping, etc
These are few quick steps to get you started with your online venture.
Tell us how you made success in your digital launch.