When you close your eyes, do you dream of increasing your sales and capturing a larger portion of the market? If so, you’re not alone. Competing in the world of e-commerce requires gaining an edge, putting yourself where your customers can find you, and building on your successes along the way. Multi-channel selling is one pivotal way to do all three. This article will teach you how to employ multi-channel selling to increase revenue and optimize sales.
What is Multi-Channel Selling?
Multi-channel selling means offering your products through a variety of websites and venues. In addition to your own website, you can list your products for sale on other digital marketplaces and online stores. This strategy allows customers more opportunities to find and buy your products.
Why Should You Use Multi-Channel Selling?
This question comes down to “does multi-channel selling work?” The quick answer is: Yes. Most consumers turn to e-commerce websites they trust and are familiar with. Using a third-party site like Amazon capitalizes on Amazon’s reputation to your advantage.
Multi-channel selling introduces you to customers where they naturally spend time. Reaching them as they browse social media or Pinterest becomes a way to pique their interest and invites them to learn more about your products and brand. Of course, more customer exposure means more chances to convert shopping or browsing into sales and allows customers to engage more deeply with your brand.
Where to Sell: Multi-Channel Selling on eBay, Amazon, and Walmart
The first step to successfully using multi-channel selling is to understand which marketplaces are right for your business. The differences in multi-channel selling on eBay, Amazon, and Walmart is the brick-and-mortar equivalent of selling your product in a Big Box Store like Target or a street market. All of these environments can generate sales but not all will equally work for your e-commerce business.
Of course, you can list on a variety of channels to see which generates the most sales, or you can put your energy into which channel is the best fit from the get-go. Spend some time shopping and looking for similar products to your own on these channels. Which venue best highlights products like yours?
Amazon offers a great balance of high-end products with more affordable options. eBay may have less competition but feels more like a discount site. And Walmart Marketplace is becoming a big contender among third-party sellers and has high standards for their retailers. They can get your product in front of millions of potential customers.
Where Else Can You Sell?
Mobile marketplaces are becoming more and more popular which makes these platforms a great way to gain market share. Half of today's purchases are processed on mobile devices, additionally, more teenagers own smartphones than they do laptops. These e-commerce trends are not likely to change any time soon.
Don’t forget that social media can be a vital selling platform. With almost 4 billion social media users worldwide, you can gain exposure and capture sales through Pinterest, Facebook, Twitter, or Instagram. Put your time and energy into Twitter, Pinterest, and Instagram since users on these platforms tend to be more open to exploring and following businesses that are new to them.
How to Maximize Revenue with Multi-Channel Selling
To begin a successful multi-channel selling strategy, you must first understand your customers. Where do your customers spend their time online? Which social media platforms are they most likely to use? Looking at social media demographics and online shopping statistics can help you better target your audience.
Using multi-channel selling platforms like Shopify or BigCommerce can streamline your multi-selling process. Listing on Shopify or using multi-channel selling software connects your online shop to multiple third-party websites like eBay and Amazon. Multi-channel selling software and platforms also allow you to keep track of all your sales, orders, and inventory in one centralized location.
Look into Your Competition and Stand Apart
When you sell on multiple channels you need to differentiate your brand and products from the competition. While big platforms like Amazon can get your products a lot of attention, you want those clicks to translate into sales.
Stand apart from the competition with:
- Superior customer satisfaction
- Clear, accurate, well-written descriptions
- Consistent and professional branding
- Excellent customer reviews
- Quality photos of your products
- A unique story around your product and brand
- Exclusive combinations of related products. For example, if you sell aquarium products, it makes sense to sell a bundle of everything a customer may need to set up their first aquarium: the filter, thermometer, artificial plants, rock filler, etc.
How Do E-Commerce Websites Generate Revenue?
Once you select an e-commerce selling channel, spend time getting to know their fees. Fees are how e-commerce websites generate revenue. They make money off each item you sell or list. Some platforms, like Amazon, also charge monthly subscription fees; take these fees into account when pricing your products.
In addition to studying marketplace fees and subscriptions, be sure to dedicate some time to reading the terms of their contracts. For example, eBay and Amazon charge you based on listing and selling items, but they do not require a long-term contract. This gives you a lot of freedom to change directions as desired.
Convert Multi-Channel Customers into Direct-Buy Customers
A customer purchasing your product on Amazon or Walmart is just the first step to increasing your site revenue through multi-channel selling. The next goal is to engage with that customer to build brand loyalty, encouraging them to check out your website rather than ordering through a third-party.
Achieving this is straightforward. Include an invitation in your packaging for the customer to sign up for your business’s loyalty program, a discount on their next purchase from your website, or a freebie when they sign up for your newsletter. You can also include your social media account information or invite direct feedback and customer service via email.
Once a customer transitions to a recurring direct-buy customer, your revenue will increase along with your customer retention and customer satisfaction.
Are You Ready to Increase Your Revenue Through Multi-Channel Selling?
When it comes to your e-commerce sales, multi-channel selling lets you cast a wide net and pull in greater visibility and sales. Using multi-channel selling and marketing is as simple as finding the right venue and connecting your shop using a multi-channel selling platform like Shopify or another multi-channel selling software.
Need help with your multi-channel marketing strategy or turning social media posts into conversions? Seller’s Choice can make your business a multi-channel selling success story through a tailored strategy that will work for your business. We are a full-service marketing agency that specializes in helping clients rank among the top results in Amazon and Google through SEO and differentiation. Learn more about how Seller’s Choice can help your business employ multi-channel marketing by contacting us today!