The best online marketplace strategies for new merchants

Putting up an online marketplace store is one of the easiest ways to sell your products. This is because you’re already provided with the tools for the online shop. This includes the platform you’re selling on and the platform where you can track orders.

However, an online marketplace is a double-edged sword. Competition is stiff, as you’re selling on a platform with hundreds of other shops – some of which may even be selling similar products. With this being said, one way to give your store an edge is through effective marketing. 

If you’re new to being an online marketplace seller, and you’re not sure how to go about your marketing plan, don’t worry! We’ve got you covered. Read on to learn some of the best marketplace marketing strategies you can use.

Do research on your competitors

As a new merchant, it’s important that you see what your competitors are doing. This isn’t so you can copy their content, but so you can see how they reach out to potential customers. Doing some market research will also give you insights on the needs and wants of your target audience. 

Additionally, make sure you go through the channels that your target audience uses. Where you reach out to them is just as important as what you say and how you say it. 

Utilize in-app advertising and campaigns 

One advantage of using an online marketplace is that it usually already has advertising options. This can be done through in-app pop-ups, banners, and sale day campaigns. Some stores also invest in having their products show up first when customers enter specific keywords. 

Explore the possibilities on the app to make advertising and marketing easier for you. This saves you time and effort so that you can focus on running your online store.

Generate buzz with social media

Even if you’re selling on an online marketplace, that doesn’t mean you can’t attract customers through other platforms. One effective way to direct users to your store is by creating buzz on social media. 

Create witty and timely content that will engage your target audience. This helps create brand awareness, and will get them curious about your products. They might even follow your page, and eventually purchase a product once they’re ready. 

Maximize positive product reviews

One of the best ways to build credibility isn’t by talking about how amazing your products are; it’s by having customers vouch for you themselves. In today’s day and age, reviews and feedback play an important role in a customer’s purchase decision. That’s because these anecdotes are coming from people who already tried your products. 

Having said this, make sure to maximize your positive product reviews and store ratings. You can post these on social media so that your audience sees how credible your store is. It will also help if you respond to these reviews, even just to say thank you. This shows customers that you care about their experiences, and not just about sales.

These are just some of the best online marketplace marketing strategies that you should consider for your store. It won’t be easy standing out in an online marketplace, but staying consistent with your efforts will be worth it in the long run. 

If you’re looking to further elevate your online business, you may need to consider getting an E-commerce partner. If this is the case, there’s no better option than Payo! 

Payo is a leading E-commerce service in the Philippines that offers holistic E-commerce solutions. We provide everything you need, from Warehousing and Last Mile Management to Marketplace Optimization and Advanced Remittance.

Want to make E-commerce simpler and easier? Sign up with us today or send us a message at info@payo.asia. We’re looking forward to hearing from you!