Triple Your Sales on Both Marketplace and Branded Website
By Vincent Leong · 6th March, 2022
Marketplaces are Great
The opportunity of selling in front of massive amount of visitors ( 30.2 million on Shopee) that makes Shopee or Lazada the must-go platform to capture brand awareness when starting a business. No doubt marketplaces are great in providing sellers product exposure and consistent daily traffic, but there’re still challenges that are causing a slow growth.
In conjunction to Ramadan, let’s together unveil the recipe of tripling your sales in this article.
But first, are you experiencing slow growth or stagnation? And these could be the reasons
Customers expect lower price point
More and more sellers are flooding the marketplaces and the saturation often promotes intense competition. Hence, do you often find similar or same product offering from your competitor that is charging a lower price? As a result, many marketplace sellers often find them competing on price instead of the value.
Limited returning customers
Aside from strong competition, I personally find difficulties to get loyal customers on marketplace as the return rate is low due to the limitation of communicating with customers after post sales. Believe or not! It’s 7X more expensive to acquire a customer than retaining one.
Little or no control over your store
Marketplace possesses full control over the look and feel, this means that your store are technically the same as anyone else’s, which is hard for any store to stand out. Not only that, some may also experience poor promotion that limits the flexibility and creativity to run an effective promotion. Not to mention sellers might also bearing the risk of getting banned or penalty .
No one could ever remember your store name
Coming back to point 1, customers expect lower price point has shaped the shopping behavior into looking for low price point product with great reviews (Branding will never be the consideration). This has posted a great challenge to sellers that shoppers won’t realize which sellers they are buying from, instead they will refer that the product is bought from Shopee or Lazada.
As a long term impact, your brand is remain extremely low visibility and branding presence to marketplace as you can’t grow your business outside those marketplaces, own your customer database or do anything else because marketplace customers are not your customers.
Here’s what brand owners should know
- If you want consistent traffic, remain in marketplace
- If branding and customer retention are critical, go for branded website
- If you are looking to acquire new customers, link your online store to Facebook Shop
Ultimately, there is no single sales channel to achieve everything. But, you get the best of both world by selling on multiple sales channels!
Why? two words, increase sales!
All things considered, which is the most suitable selling platform for you is to combine both. Increase your brand exposure, opportunity to sell more and get online presence may be the best idea because, with that, you can avoid suddenly losing everything or getting banned from a platform that you get no control over. It's best to operate on more channels to mitigate the risk.
Venturing onto multiple sales channels selling with EasyStore!
✅Easy automation for busy people
✅Avoid price war
✅Gaining returning customer more than ever
It’s easy...By combining all the advantages from each platform, you may import every products directly onto EasyStore from your marketplace, so you don’t have to upload your product listing all over again.
This also creates an unified inventory system across sales channels, enabling you to manage all inventory across multiple sales channels (including Shopee and Lazada) in one place. Then, order and customers will be synced to EasyStore. There’s where you can begin to store your customers data for future use and communicate with your customers after sales, offering them valued added post-sales services.
By building your own branded website on EasyStore, this also helps in avoiding fierce competition because customers are landing to your website that consist only your products and offer, and will not be affected by competitors’ price cut. This increases your profit margin where you can charge at a higher price. Plus, you can also save on transaction charges as we don’t charge them as marketplaces do.
Without the rules and restriction holding you back, you’ll get the flexibility to create your own store and have the say on the look and feel. Complimented with sales promotion tools, you can be creative with your marketing mix that will lead to greater customer satisfaction. Besides, domain name (your store address) is one of the factors where shoppers remember and know exactly where to find you.
It’s always the time to scale!
Let’s scale your business and 3x your sales today with EasyStore multiple sales channel solution.
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