3 Tips From Successful Multi-Channel Sellers
This guest blog was written by multi-channel eCommerce Consultant at ChannelSale.com.
The stories and strategies of successful multi-channel sellers might seem pretty ordinary. However, when the various layers are unearthed, you can easily tell that there are important factors at play that make these endeavors a massive success.
If you’re an online seller using more than one selling platform, one of the easiest ways to increase your sales and returns is to analyze successful sellers in your market and take after them.
To give you a head start, here are 3 tips and tricks used by highly profitable multi-channel online sellers.
1. Integrate All The Stores Together On A Single Platform
Bonanza has created tons of tools to help manage your business across multiple channels. However, as your business grows, handling the odds and ends of these channels can range from tedious to downright overwhelming. Things like feed optimization and product listing descriptions might take a backseat to inventory management and order fulfillment.
This is where a multi-channel service can come into play. With a centralized platform, you can easily integrate your marketplaces, webstores and comparison shopping engines together, fueling your business with higher efficiency and cost-effectiveness.
2. Following the 80/20 Rule
Like we mentioned earlier, it’s easy to become so engrossed in handling the backend activities of your business that important things become neglected. Needless to say, all aspects of a business play a different yet pivotal role in steering their business on the path to success.
Introducing the 80/20 Rule: many successful multi-platform sellers recommend spending 80% of your time on marketing and the other 20% on selling. Spending sufficient time on promoting your online brand via relevant social channels as well as concentrating on Search Engine Optimization (SEO) has proven to be effective for many sellers.
In the competitive market of online selling, simply existing is not quite enough. We encourage sellers to make proactive outreach attempts to attract, engage and convert your target audience by using data-based strategy that’s mapped around the customers’ journey.
3. Business starts with the sale
It’s a common misconception that business ends after the customer receives their item and the transaction is completed. This misconception can be more prevalent in the crowd of online sellers since online selling is somewhat anonymous and customers don’t often get to put a face with the name.
In reality, business actually starts when the sale is made. Customer retention is something that will take you from being a good seller to profitable seller.
This is because it can be five to 25 times more expensive to acquire new customers than it is to retain a repeat customer.
By focusing on your existing base of customers, you can easily boost your sales while minimizing the cost of new customer acquisition. This is done by committing to continue the relationship with your customers even after the sale is made.
Communicate with your existing customers and engage them in meaningful conversations. You might even provide them with complementary products strategically, like including a thank-you token of gratitude with their order. Treat each customer as an individual relationship that should be nurtured.
It’s up to you
These 3 tips from successful multi-channel sellers can take your business to new heights. Want to learn more? Here’s how to maximize traffic and sales using Bonanza feed partners.
