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Online marketplace How to sell effectively

As the popularity of e-commerce grows, we’re getting more and more questions from entrepreneurs on how to expand sales on online marketplaces such as Amazon, eBay, Alibaba and Etsy.

Each marketplace caters to specific target customers and the learning curve can be steep. Amazon, for example, is one of the most popular marketplaces, and success there is based on understanding the algorithms used to increase a product’s visibility and sales conversions. This can be challenging.

To succeed on Amazon and other online marketplaces, you should start with a solid marketing plan that covers how you’ll present your products and services to target customers and measure your progress.

Once you’ve created your marketing plan and decided that online marketplaces are right for your company, you’ll have to research how to get started. To help you, here are some ideas.

Online marketplace selling

1. Try buying a competitor’s product

As you start your online marketplace research, there’s no better education than buying something from a competitor! You will learn a lot about the purchase journey and you can even return the item for a refund (if possible) to get insights into their customer service process.

Tip: Compare the experience buying directly from competitors’ websites versus buying from them on an online marketplace. Is there a difference in their marketing strategy, prices, etc.?

2. Set up an account and list your first product

Armed with the information you gathered about your competitors, get started by selecting a marketplace where your ideal customers shop. Now, choose a product to list.

Once you have your product on sale, follow these steps.

  • Watch customer engagement on a daily basis for the first month and experiment with improving your product descriptions, calls to action, images, etc., on a weekly basis.
  • Ask for feedback from your first customers to understand their customer experience.
  • See if there are any leads coming from the marketplace to your website and social media channels. In the hotel business, for example, some prospects will visit a marketplace like Expedia and then go directly to the hotel website to see if there is a better promotion, free upgrades or bundle with car rental. The same concept and opportunity applies here.

Tip: Add complementary products once you get comfortable after filling some orders. Additional products will allow you to up-sell and cross-sell. Some marketplaces might propose competitor products if you don’t!

 

3. Track customer returns and complaints

Even the very best online marketplaces have challenges in a highly competitive, global environment. If you fail to track customer returns and complaints, it can quickly hurt your business. It’s important to remember that Amazon’s terms and conditions always favour the buyer, so make sure to solve any disputes within a couple of hours. The same thing goes for issues with payment portals connected to online marketplaces such as PayPal. Stay on top of this.

Tip: Make sure your pricing is in local currency or U.S. dollars and is clearly stated. Order cancellations are often related to confusing exchange rates charged by credit card companies. Don’t expect clients to do the math!

4. Be consistent with your e-commerce pricing strategy

Many successful companies on Amazon and eBay face the pain of commission rate hikes when they start making serious sales. They change strategy and try to drive more business to their e-commerce site. This can be very expensive and counterproductive if your target customers are comfortable shopping on the online marketplace.

To avoid cannibalizing your online marketplace sales, we recommend you adapt your online sales strategy per channel. For example, you may want to sell returned goods on eBay because it’s known to work well for second-hand merchandise. Or you could decide to sell last year’s collection on Amazon at great prices to increase your score on the Best Sellers Ranking list. These are things to be aware of and consider when selecting an online marketplace.

Tip: Just like when large retail chains require exclusivity deals, you may wish to focus on a specific online marketplace that attracts specific target customers. Some online marketplaces focus on a niche customer segment such as Well.ca for green and natural brands.

5. Get your pricing right and be patient

Online marketplaces are different from standard e-commerce. They can offer a turnkey solution from pre-sales support to shipping to post-sales surveys. Others focus on moving large volumes of stock quickly. Some are focused on high-end niche products with a small audience willing to wait for weeks to get a custom order.

More than anywhere else a proper pricing strategy is imperative as many consumers are looking for a perceived deal. Success will not happen overnight, so be patient! You need to give it time before slamming on the brakes. Entrepreneurs who’ve been successful on Amazon and eBay have spent two to three years before seeing serious traction in new markets.

Tip: Don’t think you can do all the heavy lifting alone? Get help. Many entrepreneurs have told us that they got advice from their local chamber of commerce, a marketing or web agency, subject matter experts, etc. Reach out to your business partners and simply ask “Have you sold on Amazon (or any online marketplace) yet?” and get the conversation going.

Conclusion and recommendations

The entrepreneurs who succeed on online marketplaces are the same ones who do well in brick-and-mortar stores. They come prepared; they learn the rules of the game; and they conquer new markets.

To see what I mean, I encourage you to watch this video on Kicking Horse Coffee. Entrepreneur Elana Rosenfeld made the bold decision to stop selling from the company’s website altogether in favour of online marketplaces. Kicking Horse mastered the online marketplace sales strategy.

Think about how using an online marketplace could advance your brand and follow the BDC blog to keep up with the latest trends across the country.

For those of you who already have had success selling products using online marketplaces today, what recommendations do you have for entrepreneurs? Please share your comments below.

Easy Tips for Selling Your Clothes Online

Easy Tips for Selling Your Clothes :

Our wardrobes are jam packed – the average closet holds 100 items, 22 of which are never worn.Easy Tips for Selling Your Clothes, The average woman has over $1000 worth of underused (only worn once) or unworn clothing items (tags still on) sitting in her wardrobe. Whether you want to move a few things to make room for the new season’s purchases or go on vacation this year, but your bank balance is telling you ‘NO WAY,’ look inside your wardrobe and consider Easy Tips for Selling Your Clothes.For Online Sell Your Clothes And Another Product Visit – www.onlinecitymarket.com

Before you start, there are three things to consider. Firstly, you have to be clear what you want to achieve – how much money do you need to make? This understanding will keep you focused, and if necessary, ruthless when tackling your wardrobe. Secondly,Easy Tips for Selling Your Clothes, the selling won’t happen overnight: expect a two-month turnaround. Thirdly, only sell what you can see yourself without; selling then regretting is a horrible experience. Here are my straightforward and easy to follow tips for selling your clothes online.

 

 

Ready to sort and sell? Let’s go: Easy Tips for Selling Your Clothes

Easy Tips for Selling Your Clothes

1. Focus on one section of your wardrobe at a time.

The Easy Tips for Selling Your Clothes is Trying to tackle the whole wardrobe at once can be stressful so initially focus on 1 area at a time: summer/winter, work/play, bags/shoes. This process creates some order to process and not leave you feeling overwhelmed.

2. Give yourself enough time.

I’ve done one section of a clients’ wardrobe in 3 hours, but this includes re-styling the clothes as well. Set a stopwatch for 30-minute intervals and see how many items you sort in the time allotted. Understand that this process may take more than just a weekend.

3. Be prepared.


Lay out clothing bags on the bed and label them ALTERATIONSSELLINGCHARITY. You may come across a designer gem of a dress, but the hem has dropped: put this in the alterations pile. A small outlay to get the hem fixed is worth it in the long run to get your dress sold.

4. Easy Tips for Selling Your Clothes Is be honest with yourself.

Those items we don’t wear anymore but can’t bear to part with, need to be considered. Easy Tips for Selling Your Clothes is you can’t wear memories so if you are keeping hold of dress because you had a particularly good night out wearing it, find photos of that night out instead and sell the dress.

How much have you used and worn your clothes? If an item still has the tag on, this shows you didn’t love it enough to cut it off and wear it. Items with tags on sell well; on eBay, they are described as BNWT (Brand New With Tags) which gives you license to price them higher than a second-hand item (no tags and which you have worn).

5. Keep in tune with the seasons when you clear out.

Coats and knits sell great on eBay from November through to February. Easy Tips for Selling Your Clothes Summer listings start to creep in around March. Don’t forget festival season as well – headbands, jean shorts, crop tops – all essential festival wear.

6. What labels do you own? (Easy Tips for Selling Your Clothes)

Mid to top-end high street labels like Zara, J Crew, Reiss sell well on eBay, as does suiting and plus sized clothes. During the three years, I have been running The Wardrobe Angel I have found that jeans don’t sell well, however blouses, tops, jumpers and coats do. Any vintage clothing should be taken to a specialist vintage dealer.

7. Designer labels less than 2 years old sell well.

Easy Tips for Selling Your Clothes

 

ites such as Vestiaire Collective offer a haven for second-hand designer clothes. That said, classics will always sell: Channel bags and jackets and Louise Vuitton bags for instance. Call local resell shop to ask what labels they stock and what their turnover stock is.Easy Tips for Selling Your Clothes You want to move your clothes on as quickly as possible, so you need to make some decisions – sell on a designer clothing website (may sell immediately or not at all), sell at a resell shop (could sell in 6 weeks) or put on eBay (could sell in a week)? All have pros and cons.

8. Always check a similar item on eBay before you list your item

This check will give you an idea of how much you can expect in return. Don’t forget the charges! eBay and PayPal both charge you for using their sites as do brick and mortar and online resell shops. As a rule of thumb, whatever your items sell for you will get 50% of the sale price.

9. Easy Tips for Selling Your Clothes Take clear photos and list with precise descriptions

Buyers want to be sure they are buying something they will like and will fit. Take clear and will lit photos of your items, so there are no surprises after purchase. If possible, find the original image from the store you bought the item from, take a photo of yourself in the item, and one of the item alone.Easy Tips for Selling Your Clothes Be sure to include a description of the price for the buyer as well.

10. All clothes should be clean and in a saleable condition

No holes, stains or alterations, ironed, crease free and on a hanger. Designer bags sell better with their dust bag so dig that out and press it. Place the clothes for the vintage dealer and the designer clothes for the dress agency on wooden hangers and package them in a garment bag. Present your clothes like presents.