5 Ways to Grow Your Marketplaces Presence in 2014
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1. New Marketplaces
If you’re selling only on Amazon, or only on eBay, you should really consider adding the other. These two marketplaces continue to dominate the space. If you've already tackled these, it may be time to look to Sears, Newegg or Rakuten.com Shopping as a potential new revenue stream. Retailers who sell electronics and tools especially tend to find success on Newegg, while sellers in the home and garden category typically yield good results on Sears. (Stay tuned for more details on this differentiation in a future blog post.)
Take it to the next level. Make sure to review and act on your Amazon and eBay Insights. These can be found under the Optimization area of the eBay and Amazon sections in the ChannelAdvisor platform. Insights will provide you with SKU-level information on how competitive your pricing is, how many sellers are using Fulfillment by Amazon (FBA) on an item and what eBay item specifics are missing. You’ll also receive tailored recommendations on potential new products you can source to grow your business.
3. Cross-Border Trade
EBay's Global Shipping Program (GSP) is an easy way to test out cross-border trade while only having to ship domestically. Shipping and customs charges are automatically included in the buyer’s checkout purchase total and the program is free for sellers. GSP can help increase sales within months, and facilitate orders from more than 30 countries. In fact, eBay is hosting a webinar on GSP next Thursday, January 30th if you’re interested in finding out more. Sign up here.
Amazon too has a similar program called Amazon FBA Global Export. In the US, for eligible products using FBA Global Export, orders can be placed from international locations if the buyer is in a supported country. Check out this blog for further information.
Have you tried out Dropshippers? This blog post talks about the benefits of using a dropshipper for fulfillment, such as expanding your catalog and improving fulfillment time. If you are already using a Dropshipper, take time to review your your drop-shipping agreements and setups to ensure that they aren’t hurting your seller status. The late purchasing surge during the recent holiday season caused some delivery delays, which may have affected your seller metrics.
Do you find yourself spending hours manually managing inventory across channels? ChannelAdvisor software helps to reduce that time-consuming work and allows you to focus on other areas of your business. Make sure to take time to set things up properly from the beginning so that when you upload a new file it automatically sends the information everywhere you want it to be and makes updates accordingly.
BONUS TIP! 6. Outsource
Why not leave the management to someone else--free yourself up to concentrate on strategy? Our Managed Services team of experts lives and breathes marketplaces and can help set up the automation you need and provide guidance on strategies that will lead you to success on online marketplaces. (http://www.channeladvisor.com/platform/excel-with-services)
Blog post by Luke Evans, Manager, ChannelAdvisor Marketplaces Services
Understand the value of marketplaces? Before you jump, make sure you also fully understand the financial benefits of working with a software partner. Download our FREE white paper for more info: Should You Go It Alone or Through a Provider?