Chris started out as an eBay seller, then founded the UK & Europe’s premier resource for marketplace news, tips, and advice – Tamebay.
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Chris got started in marketplaces purely by accident. At the same time he bought a house, he got a notice of redundancy at work.
He began selling on eBay to make some money and get him through the summer. By Christmas time, he was still selling on marketplaces and had already forgotten to look for a job. He made his living there for the next 5 years.
For Chris, the best part of marketplaces is the endless opportunities they present, whether you’re someone who needs to replace their salaries or you’re a larger company using marketplaces as a marketing resource.
Why Sell On Marketplaces?
Brands are protective of their IP and brand image. If you’re not selling on a marketplace, somebody’s probably already there selling your products. If you do nothing else, establish your presence in a marketplace, stamp your authority there, and set your products and brand image in the manner you would like it to be presented.
Additionally, because of the pandemic, customers are in marketplaces and not in physical stores. This is another reason for selling on this platform.
All About The Brand Experience
Chris suggests to Google 2 things:
- Amazon Brand Registry – register your brand on there, start protecting your IP, and make sure your products are presented correctly
- Amazon A+ Content – to build beautiful product pages
With better product pages, you will be able to provide a better brand experience overall to your customers.
Can Any Brand Sell On Marketplaces?
There are certain brands that can’t sell on marketplaces. If you have no physical product to ship — such as if you’re selling subscriptions or services — you can’t sell on there, but you can still engage with consumers through advertising.
Marketplaces have highly segmented audiences you can drill down to the exact profile of customer you want to market to, and they can put your advert in front of those customers.
Getting Started On Marketplaces
The first thing to decide is whether you’re going to sell products, or if you’re going to market through advertising.
Then look at your product set and find out which of the marketplaces your consumers are likely to be on.
Also do the following:
- Go to the marketplaces and engage with those who might have an interest with your product set
- Look at what’s available on those marketplaces
- Look at what brand tools the marketplace has
- Assess how you’re going to move forward
Launching On 1 Or More Marketplaces
It’s going to take some time to set up and get everything done to launch. The great thing is when you’ve done one, the information you put in there will be useful for all other marketplaces you will get on eventually.
After eBay or Amazon, there are different marketplaces you can choose from depending on your product set.
Choosing What Products To Place
Chris’ short answer is list everything. His longer answer is decide based on the limitations of marketplaces, and where some might go to your website for a fuller buying experience.
Not getting your customer service and logistics operations right the first time.
If we’ve inspired someone to take their first step with Marketplaces – what do they need to know to give themselves the best chance of success?
Go and buy a load of stuff on the marketplace, ideally from different sellers in different categories.
Assess those sellers on factors such as turnaround time for shipping, what the communication is like, and how items were packaged. Get to know some of the norms of how the marketplaces work.
Find the outstanding sellers, learn what they’re doing, and apply those lessons to your business.
But the first thing to do is to get started on marketplaces, even as a consumer.
Once you’ve started of course you’ve got to ‘keep optimising’! So what’s your favourite way to improve Marketplace performance?
Go back to your listing, look at your title and your product attributes, and make sure you filled them out in accordance with the marketplace norms.
The other big thing is marketplaces like success so the better your feedback — which comes from your service and the more sales you get — the more sales they’ll give you and drive people to your listings.
If someone listening wants to learn more about Marketplaces is there one cheap/free resource you’d recommend?
Crystal ball time – what’s coming up in the next 6-12 months that we should be getting ready for in Marketplaces?
The next 6 months is going to be all about Q4 and Christmas. People have been locked up at home for 18 months and doing their shopping online and on marketplaces. They’re not going to stop.
Looking further forward, marketers also need to think about not just about selling on marketplaces, but a broader picture outside of your website. This includes social media, carousels, and messaging platforms.
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