Every other person you meet today is an online business owner. The trend of eCommerce and the ease of starting an online store have made it easier for anyone to open up a multi-vendor e-commerce marketplace just like that. But then, how many of them have succeeded in shining brightly than others? Hardly few.
Well, as easy starting an e-commerce business sounds, maintaining and raising its bar is not something everyone can manage to do.
The way eCommerce is bubbling up, it is expected to hit $4.5 trillion in 2021 without a doubt. We can guess by the figures that how much crowded the eCommerce marketplace is today. And if you are the owner of a Multi-Vendor Marketplace Store, for people to notice you among such a competitive crowd, you got to play some tricks and try some hacks to swim the ocean of e-commerce and win the trophy. We will tell you how.
Customers today are not just interested in the product or service they are acquiring online but are also keen to know the background of it too. Who you are? How you came up with this idea? What challenges you overcame and so on. Telling them all will give an emotional touch to your brand and as a multi-vendor, you can also encourage your sellers to share their stories as well. The more good exposure your vendor partners will get, your brand will become more popular in the market.
With your and your vendors' stories, you will be not only simply selling products/services, but in a way will be actually giving an experience of it to your users before they buy/acquire it for real.
Of course, the quality of product/service and price matters the most to the customers, but your survival depends more upon how you are serving them. Customers are looking for a great experience in any business. The one that delivers the best, they stick to them.
A customer can face difficulty at any point on your store and if don't have an efficient customer service team to pull them out of it, remember they have plenty of other options who offer the same you are offering in a better way. If you don't want them to migrate to others, make sure you have an efficient and dedicated service team too.
Ensure whether your customer service team is quick in responding to queries, trained in handling the customers well and skilled in solving errors as much as possible at their level or not so that customers don't just walk out of your site.
You can't compete unless you know whom you’re up against. Take some time to peek into your competitors. Run a background check, study their tactics, this will help you plan your move well.
Since it is not that you are selling something unique that nobody has ever discovered, you got to keep an eye on your competitors. Make a strong and bold online presence, stay updated with the latest trends, be open to change something as and when required, re-develop your aged website with latest technologies, offer something unique than your competitors, take feedback from customers and modify or serve accordingly, all these will help you make your e-commerce marketplace definitely different from others. For best results, implementing Magento Multi-vendor eCommerce Marketplace Software onto your store will yield amazing results beyond your expectations.
As much your online presence is important, equally important is for you to socially connect with people. Reviews, ratings, testimonials of customers are what makes you socially famous. As they are the proof how great your customer service is. The more they are satisfied, they will not only keep coming to you but will bring four others with them as well. Like today, before opting for any service or buying any product, people do check out reviews, hence, gaining a good social exposure is something you must get in any way.
Not all eCommerce marketplace is the same, you might be good at something your competitor is not. Try to figure out what your strengths are so as to use it as an excellent tool against your competitors. How? What's Google for then? Monitor your website using Google Analytics and know your digital strengths as in what and from where are you getting website traffic. Like, if it is coming from Facebook, focus more on Facebook posts and ads. If it is the blogs that attracting your customers, focus on your content more. Concentrating more on your strengths will make you an expert in it and gain more attraction easily than others.
The market is changing at every second. Your today's tactics may not work tomorrow. Therefore, you must keep experimenting with new ideas every now and then. Try new campaigns, advertisements, offers, designs, themes, etc., as per the target audience you are serving. The soon you break your monotonous pattern and try something new and creative, the better.
The market is too crowded for any customer to wait for you. If not you, they have a plethora of options to choose from. Hence, in today's eCommerce marketplace, Darwin's theory 'Survival of the fittest' truly proves to be right. You got to have your store built with an exceptional Magento marketplace software builder to make it self-efficient enough to lure customers and once you get them to notice you, you can easily impress them using all the above tactics, at the right time, in the right way.
