Perhaps your business started on Amazon, one of the largest e-commerce markets on the planet. As of last year, 55% of surveyed Americans used Amazon first when they wanted to search for a product online. And over the last 2 years, Amazon Prime doubled in size, currently serving approximately 80 million U.S. members, up 38% over the previous 12 months. With the average Prime member ordering $1,300 in products each year, and the average non-member customer spending $700, business is absolutely booming.
It may seem intuitive to stick with one channel (i.e. Amazon) if it’s working well for your business. However, if your brand is only available via one or two sales channels, there is a massive opportunity for your store to tap into different audiences on other established platforms. Utilizing a multichannel e-commerce strategy can help your business grow to new heights while boosting your marketing efforts and giving your brand a diversified stream of sales.
Here’s how your business can benefit from having a presence on more of the world’s top marketplaces – and how you can streamline the influx of new orders you’ll receive (without lifting a finger).
Benefits of Multichannel Sales
1. Tap into established audiences with contextual commerce.
Today’s shoppers are used to be marketed to and catered to in a way that is convenient for them. You must bring your products to the shopper. With more options than ever, many consumers aren’t choosing Amazon as their primary resource for searching and purchasing products. Instead, they may prefer another marketplace such as Walmart or Jet.com. In order to be seen by those consumers, your business must integrate the foundational concept of contextual commerce:
Your business must be where the consumers are.
Establishing a multichannel e-commerce strategy enables your brand to position itself in front of the different audiences that established marketplaces such as Walmart and Jet have built up. Each leading platform has a current base of consumers that know, like and trust the marketplace. With multi-channel sales, your business can reach new market segments and increase brand recognition.
2. Optimize discovery of your products.
Another byproduct of publishing your products on multiple marketplaces is better SEO, as your products will be more likely to populate in search results. Furthermore, consumers will be able to find your products when searching on whichever shopping platform they are already using. If consumers are purchasing similar products on marketplaces that your business isn’t currently utilizing, it’s time to consider creating a presence.Many shoppers utilize websites such as Walmart and Amazon for convenient window-shopping, researching items and comparing similar products before deciding what to purchase. Some consumers may discover your brand on one marketplace and then search for the products on your website or another marketplace, choosing to purchase from whichever platform they feel most comfortable with. This enables your brand to create customers from new shoppers who may be wary of purchasing from your shop’s website.
3. Diversify your revenue streams to become more resilient.
If your store only exists on a single marketplace, your business is entirely at the mercy of that marketplace. If your brand’s account is suddenly suspended, your whole business comes to a halt for an indeterminable amount of time. It’s enough to ruin your brand’s reputation – even if your account gets reinstated on the marketplace.Don’t keep all of your company’s eggs in a single basket. Mitigate your risk and diversify your revenue streams by enabling sales through multiple channels.
How to Streamline Order Fulfillment with Multichannel Sales
If you know your business needs to break into new marketplaces, it’s time to do some market research and create a strategy. Your company will need to prepare for the impact of adding sales and distribution. Each platform has unique rules, guidelines, and fees associated. Using GeekSeller to integrate your product offerings across multiple marketplaces, your business can exist seamlessly in a multi-channel distribution model, with inventory synchronized in real-time – and the option to have orders automatically fulfilled by a third-party logistics service, so you can manage your business remotely.