Revenue with Multi channel selling :
Ecommerce sellers are in constant fear of losing their hard-earned customers to their competitors. The sudden change in the Amazon A9 algorithm or Google updates might bring down a seller’s product listing from top to the last page. Ecommerce technology changes rapidly and the sellers must keep up with the changes with Multi channel selling.
You might be thinking that I have started the blog with too many negative thoughts? But this is a fact and the sooner you accept and work on it, the faster you would be able to adapt to the sudden eCommerce changes.
The online world is filled with opportunities and you can even rectify the mistakes you have done during selling. But rather than rectification, strategically planning makes more sense, saves your time and puts more money in your pocket.
So, want to know How?
The word is known as “Diversification”. This is known as the buzzword of financial planners, but now this is adopted by online sellers too. The online sellers call it as “Multi channel Selling”. Multi channel selling means you can sell your product on multiple channels. Multiple channels are not restricted to marketplaces only, you can sell on your website, social media sites, and various other platforms.
Ok, if you are new to multi channel selling then you might be scared that being a start-up how would you manage and sell on multiple marketplaces. I will give you a strategic solution on that too. But before that let’s have a look on:
Why you should sell on multiple channels?
The very first reason for selling on multiple channels is that people might easily discover your brand, no matter which platform they visit. Multi channel can solve a whole lot of your problems by:
Increasing Customer reach:
You might have an appealing website and best products, but if no one stumbles upon your product, then you will face really hard times making sales. However, if you list your products on multiple marketplaces apart from your website, your brand and product reach can significantly increase.
Offering easy and convenient Shopping experience:
People like to buy products that come more easily to them. If they are used to Amazon and like the easy shopping experience, they won’t visit much on eBay and Etsy that has so many processes before placing an order. So, if you are available in all the marketplaces where shoppers feel convenient to shop, then for the customers you provide a good shopping experience.
Helping to know your Audience better:
If you sell on multiple channels, you get the chance of gathering more information about your customers and their shopping habits. You can later use the gathered information to craft your new sales campaign. With the information, you get the clarity to decide which channels would be more profitable to target.
Multiplying the sales during peak days:
There are a number of peak days like back to school days, black Friday, Christmas season and many more. Multi channel selling would provide an advantage of multiplying sales during the peak days.
Potential Customers shop on multiple Marketplaces. So, you have to do detailed research on where your customers shop more. This would help you to target the right platform. For example, you have your web store and you are selling your product on Amazon as well. But, being a handmade item, your product has more potential and audience at the Etsy marketplace. Here you need to apply the multichannel strategy to know which platform works best for you.
So how to apply the multi-channel strategy?
Follow the same logic when you selected the first marketplace to sell on. If not, then here are the details:
Consider your customers: The very first thing you should do is to research. Find out which platform provides the highest customers for your products. After listing down the platform check what your customers read? Who do they trust? What are the products they click on? The customers on that particular site might like to shop from niche markets, socially conscious companies, online retailers, apps, or a mix of them.
Acquiring Customers: Using the previous marketplace statistics and details, you would know which customers to target during SEO or social media marketing. With this, you can easily consider the marketplaces that have the same characteristics.
Keep a check on your competitors: Know what competitors are doing? Which are the marketplaces they are targeting? Which marketing strategy they are applying to? So that you can also implement the same strategy.
Check out the Interwebs: If you are still not sure where to go? Whether to rely on Google, marketplace or other platform statistics? Then check out various websites. You may even come across a website that holds similar products as yours. You can start with that to understand the selling point and identify various options.
Start with one: Don’t overburden yourself by signing up on all the marketplaces. Start with one initially and then with time you can opt for multi channel listing.
How to Manage Multiple platforms and increase sales with Multi channel Selling?
Leverage the best inventory management software, to make your eCommerce selling smooth. The eCommerce selling includes a whole lot of processes like creating an account on multiple marketplaces, then managing inventory, orders, tracking purchases, managing accounts, and shipping, and lastly dealing with customers. What if you can manage this all on a single platform. You can leverage inventory management software like KartzHub for managing your entire selling processes at one single place and without the need of hiring extra resources.