If you are running an online commerce store, then you need every edge that you can get over your fellow competitor. This is particularly accurate if you are in a highly competitive market. Being in the wrong place at the wrong time can spell disastrous to your ecommerce business, and that means the online marketplace that you are a part of.
Not all online marketplaces are made equal – some are bigger and have more visitors while some are not. Knowing where to put your services and products on display, is just as important as the product or service itself. It doesn’t matter if your brand is the best at what it does, nobody knows if nobody sees you…
We shall be taking a look at some of the characteristics that set apart the top ecommerce platforms from not too great online shopping platforms.
Bigger Is The Better Choice
The larger the market size gets, the better it becomes. Why else do you think so many e-commerce stores are setting up shops in them, and not the smaller alternatives? The larger the market is, the higher is the probability that you will find your target audience there. From there on out, you can think about expanding on your reach further.
Great Customer Support
The same way how your customer needs post-sales support, customers of the online marketplace which are businesses like yourself also require assistance. The assistance could be in the form of in-built software and a platform that allows for seamless business processing e.g. sales figures, profit margins, accounts receivables, and so on. If you have all of the needed facilities in one place, then it is easier for you to transact and do business. When you stumble on a problem, there should be ready assistance from the online marketplace’s end.
You want to sell your goods on a platform that offers competitive pricing. This could mean lower flat fees or a lower percentage of commission on the goods and services sold. Make a list of all of the options and balance out what makes the most sense for you, to maximize your profit margins as much.
Remember that selecting a marketplace that nourishes your business is extremely important to be able to go guns blazing. Take the time to research different online marketplaces, and make a note of what each one has to offer. To say that a wrong online marketplace could ruin any business is no understatement.