Omni Channel Selling The Essence of eCommerce
Selling whether online or offline, (Know the Key Differences between Offline and Online selling) is now, not limited to any individual platform.The audience or specifically customers are now not limited to any store or a particular website. People love to shop irrespective of time, place and market. As now people are more interested in online shopping because of the fast pace life and more accustomed to smartphones, it becomes even more important for online retailers to make their brands and products available for their customers at every discoverable website, marketplace, social media and mobile apps.Promote your brand and products in all marketplaces to reach your customers. Once you become discoverable at all the places, your customer’s spectrum would expand and will result in higher sales from each marketplace.
Online selling and e-commerce are now trending and have become the strongest means of business and sales, therefore it becomes necessary for sellers not to stuck and only focus on any one platform.
Selling online on various platforms is termed as multichannel and/or omni-channel retailing. Multichannel selling nowadays includes marketplaces like Amazon, eBay, etc. and social media too. Retailers are now focussing on various channels to flourish their business, e-commerce has shown a new way of business. Growing technology, cheaper rates of internet and cheaper cost of e-commerce store setup attracts most of the businessmen towards the virtual retailing. Any business can now hit the global marketplace just by launching a website or setting up a store in any marketplace or even on multiple marketplaces simultaneously.
Importance of multiple-channel retailer-
If you are a Store Owner on a single Marketplace, then you would be amazed to see the following figures:
- Social media has impacted about 52% of retailers to sell their products on many platforms. Retailers share their posts and promotions on different websites so that customers can look at their products. Like, comment and share options of websites make the product’s branding and promoting more easier. However, the impact of social media on people can’t be hidden.
- 42% of retailers are submitting SKUs on different e-commerce websites.
- About 30% of retailers are moving to mobile apps so that customers can easily access their store.
- 20% of people use mobiles to redeem coupons while online shopping from any websites or mobile apps.
- More customers: Through multiple marketplaces, more customers would adhere to your websites and stores. In a second-quarter survey done in this year, eBay has emerged with 29% hike in its users from its last recorded 157 million users with 203 million registered users. With a figure of 596 million listed products, eBay has a hike of 35% in its last year’s report. This data is solely for eBay, you can yourself, imagine how other marketplaces and websites can attract more customers and would expand the list of registered users.
The above facts show that retailers are now moving towards multichannel retailing and if you too were in dilemma of using or not using multiple marketplaces to expand your business, the above facts can surely convince you to sell through omni-channel and earn more profit.
Side-effects of Multichannel selling-
Every coin has two faces so as multichannel selling too. But these side-effects are smaller than the advantages it offers.
i. Costly: At the initial level, setting up store at each marketplace may cost you more bucks but later on the profit from these places would compensate all your investments.
ii. Complex to manage: Having multiple stores at multiple channels can be complex to manage as each marketplace would comply you to follow their guidelines. As Amazon is strict in its policies, likewise eBay, Shopify would also have their own policies for sellers. Thus managing all at one time can be cumbersome. But if you work with right strategy, then no one can stop you from flying your flag among your competitors.
How to manage Multi-channel sales???
- Work with Business Intelligence: No doubt, online shopping has influenced the shoppers at depth, therefore before putting your foot forward towards omnichannel, firstly analyze your customers and their choices on different platforms. Make a workout plan as per your business experience and challenges that you may face. With analytical skills and intelligence, manage the demands, inventory and sales.
- Data Management: Manage the data sheet for your products, inventory, right price and right platform. With the spirit of right strategy, go ahead to the path of profit and more sales.
- Campaigning is must: Whether on a single channel or multichannel, campaigning is an important part of selling. Promoting products with right campaigning opens better opportunities to attract the target audience. If you have any offer on shopping or any discounts on continuing shopping experience, you should clearly mention the conditions, deals and offers with the products.
- Use Omni Channel specific tools: Various tools are available in the online market which can help you to maintain your omni-channel sales and business. If you alone cannot handle the multi-channel market, it is better to use automated tools and software available in the market.
- Outsource your business: When you don’t have time to handle multi-channel market and sales it is good to outsource your business and services to the efficient third party service providers. The outsourcing service providers can handle your business in a better way with its team that manages all channel markets behalf of you. Seat on your relaxing chair and see your multi-channel business flourishing.
Go where your audience is-
The audience or specifically customers are now not limited to any store or a particular website. People love to shop irrespective of time, place and market. Thus you should reach your audience at all the marketplaces and social media. Promote your brand and products in all marketplaces to reach your customers. Once you become discoverable at all the places, your customer’s spectrum would expand and will result in higher sales from each marketplace.
Here are some popular places where you can promote your products and brands.
Marketplace List: List of online marketplaces and websites is too long. Apart from Amazon, eBay, Shopify, Etsy etc. are the marketplaces that will add more customers to your stores. While the websites like fancy.com, Fab, Wanelo, ShopStyle, OpenSky, The Grommet, Polyvore etc. are shopping websites where you can promote your brands and inventory and see the gushing customers at your store.
Promotion on Social Media: As Amazon is the biggest online marketplace, likewise facebook is the biggest social media where millions of people can communicate with each other globally. Also, Instagram, Whatsapp, Tumblr, Snapchat, Pinterest etc. are the place where you would find the line of visitors that may be converted into your buyers.
Amazon is the biggest online marketplace for retailers and this creates a tough competition amongst the retailers. Although many sellers have established their trust on Amazon customers and they earn a good sum through Amazon, yet the game becomes tougher as many new sellers join Amazon on regular basis. So, from now onwards you need not only to learn the tips of How to sell like a pro on Amazon.com but also need to go through other marketplaces strategies and guidelines to become a good seller and look for an efficient service provider to manage for your global customers. If at an initial level you find some difficulties in omnichannel services of store setup then you should take an assistance of service provider like Evantage. If you want to earn more profit, do not limit yourself only to one channel. Go ahead and explore your business.