We’ve all heard the commonly used phrase, “Success doesn’t come easy”. That phrase is especially true if you are an entrepreneur running your own marketplace. Competition is tough and how can you distinguish yourself the rest? Well B2Community has shared 7 ways you can improve your marketplace success.
Don’t you hate it when you order is incorrect and you can’t get ahold of someone to fix your issues? Let’s not be that company. Ensure you have enough customer service representatives to handle any issues that may arise. Have a clear explanation of return policies and delivery schedules.
Keep an eye out
Knowing your space is key to success. Understand who your competitors are and what they are doing. Often times other marketplaces are keeping an eye out on you and watching what your every move is. This can help eliminate price undercuts and stay competitive. While pricing is a big factor, focus more on the quality. If you are producing high quality products, then your pricing scale will be justified.
Cross promotion is one of the best things you can do for your marketplace. Don’t limit your audience to just your own. Marketplaces are all over the world and what may be well-known in the US may not be in other parts. Try to broaden your horizons and connect with others outside of your location.
Use social media accounts to connect with marketplaces even if they are not in your industry. Promoting and engaging with others can increase your reach to find potential customers. Millions of people are on social media and and be a great place to find your target audience.
Don’t load your products at once
Apple never releases its iPhone, Macbook, or iPad at the same time. They strategically scatter their products at different dates to keep the buzz going and not force people to pick from the items. Many people have become Apple brand loyalists and do not even realize it, including myself. I always keep an eye out for the next product release which seems like it happens every couple months.
By spreading product releases, it also keeps products relevant meaning they will keep their search engine results higher. The more relevant, the easier to find when using search engines.
Use social media
As I mentioned above with cross promotion of your marketplace with others, using social media can help boost your leads. Using it for other purposes such as customer service, building communities, and keeping your customers up to date is a great way to use it as well. While you are building that trust and bond with your customers, it becomes inviting to others as well. Showing you are active on social media responding to others and being interactive shows you care more than just about your product itself.
Relationships are a big part of selling and generating leads for your marketplace so take advantage of the age of social media we live in. Be part of the movement and don’t get stuck behind. Realistically, your competitors are already on social media so keep a look out.
Be appealing to your audience. If you are a marketplace selling shoes and you have poor quality images, it will be much tougher to sell. Without clear and professional photos, customers can not fully decide if they want to buy the products. Having a visual in front of them help persuade the decision making process.
If you do not have the equipment or experience with photography, there are plenty of freelancers that will be more than happy to take your photos. It may be a bit pricey, but can be cheaper than buying all the equipment and trying to teach yourself how to take photos and getting the right lighting.
It is important let your audience know images are not to scale. While that may seem like a no brainer, people may get confused and receive something much bigger or smaller than expected. As you adjust your photos to your website, include dimensions of each product. Let your audience know what to expect prior to purchasing to help avoid any returns or confusion down the line.
As you continue to make improvements within your marketplace, don’t be afraid to step outside of your comfort zone. Competition is growing faster than ever with marketplaces and striving for ways to improve is a must.
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