There's an array of online marketplaces such as eBay, Alibaba, Amazon Marketplaces, Etsy, Big Cartel and Eventbrite that provide businesses with a channel to make high volume sales.
As the popularity of these marketplaces increases, so does the competition. Using the right marketing strategies and tactics on these channels is key to setting you apart from the pack.
There are various aspects that influence how successfully your product will perform in a particular marketplace, so it's important you sell in the channel that's right for you.
Choosing the right marketplace for you
When assessing which marketplace is best for you and your business, consider the following:
- How well does this site rank when searching for similar products and services?
- Will customers go to this site, and if they do, will they be persuaded to buy other products?
- What options exist for setting up a business page that includes your brand?
- What fees are charged? Are ongoing monthly fees included and/or per transaction charges?
- How easy is it to update on your products online?
- How well is the site promoted in other forums including offline forums?
Create effective listings
To ensure you've listed your products effectively, ask if:
- your title describes the product well – is it unique and does it include keywords? Use the same technique as you would for good search engine optimisation.
- your photos or logos are clear and well lit, and do they relate to your product and fit the marketplace specifications for images?
- your description clearly describes the product and explains how it would benefit customers'?
- you've included your business name?
Selling via an affiliate website
Selling through an affiliate business website can increase your reach to potential customers. It involves placing your product or service on another business’s website.
An advantage of selling through an affiliate is that it can expand your market place, particularly if the affiliate has a popular site. Disadvantages include your product typically being included as an advertisement, or the affiliate site taking a percentage of any sales made via their site.