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Pros & Cons Of Selling On A Marketplace

When an entrepreneur wants to start selling online, marketplaces is the first place where they plan to start their business from. Even if an e-commerce entrepreneur already has an online store, they consider this as an option. If you’ve ever wondered that are marketplaces an appropriate place to sell online then this post is for you. Read the pros and cons of selling on marketplace that will help you decide if the benefits are worth the risks.

Pros of selling on a marketplace

Wider audiences reach and increased sales

Marketplace acts as your online shopping mall. They have established unique users who visit on regular basis. You can display your products and can reward yourself with the customers the marketplace has. This saves the investment you need to make in SEO and branding for your own website. When you create your website with GetMeAShop, it enables you to sell on marketplaces from a single dashboard.

Reduced cost

A marketplace handles the platforms, order fulfillment, and SEO which makes it easier for you to sell online. All that you do is to create an account, manage products, and orders.

Maintain your brand image

Establishing your brand in the digital landscape is not easy for a business. As a professional in the market, your brand name and logo’s will be displayed and will make it easier for your customers to shop time and again from you.

Marketplace creates confidence

With well-protected payment gateways and secured hosting, the customer gains confidence in your brand and does not hesitate in buying from you.

Sell internationally

Marketplaces offer you affordable shipping cost and provide customer support in their native language or at least in English which helps the customer sitting abroad trust and buy from you. This way you can start targeting the audience overseas through your own retail site eventually and expand that way.

Cons of selling on a marketplace

Not your shop, nor your customers

One day you decide to sell online through your own store and the WOHHHH. SURPRISE! You don’t have any customer there. When you sell at the marketplace, understand this that they might not let you export their customer data. Keep in mind that leaving a marketplace and opening an online shop is a start from scratch. Always remember that when you leave a marketplace to sell through your own store, you actually start from the scratch. Life on a marketplace is hard: once you decide to leave marketplace selling and start over by creating your own store, you will have to start from the beginning and spend huge money.

The cost of being profitable

The main purpose of marketplaces is to gather customers data and once they have to build a huge customer data file, they increase sellers expense. They look for new business opportunities and takes advantage of them. When you sell on their platform, you offer them the confidential information about your business.

Higher competition

When using these sites your product might be listed next to similar products from a whole range of other retailers. You are in the same place as potentially huge retailers who might beat you on shipping costs or handling times.

Customer might not remember your brand

The customer is buying from you when you are selling it through marketplace because of the name of the platform and not because of your brand. The good quality that you provide to your customers is not remembered and what people remembers is the quality that marketplace provides.

Now that you know the pros and cons of a marketplace, you may be wondering who would be interested in selling there. On the other hand, if you already have your own online shop, a marketplace can be a good choice as a complementary sales channel, especially for those products that you want to clear out.

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Turn Google Searching Into Selling

Every online shopper, at some point of time, has gone through Google for their product search and chances are that your brand was not there on the first search page even when you deal in the same product the shopper is searching for.

Google shopping is the perfect product ad to choose for your business and to reach the right people no matter which device they are searching from. Unlike the typically paid advertisements, Google shopping allows you to list items including product image, description and price on the search window.

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Not just a search box, Google shopping adds as an additional channel to let you expand your brand’s online presence. With just a few clicks, your product is visible on the Google search panel helping your business to reach millions of new customers.

How is Google shopping beneficial for my e-commerce business?

–    Get in front of shoppers who are searching for similar products that you deal in, whether they’re shopping at home or on the go.

–    Get the detailed reports on clicks and tools for analyzing information about your audience and the changing consumer behavior.

– With shopping campaign ads, you make sure that you are promoting your sales and products.

You can watch the VIDEO at>> https://www.youtube.com/embed/xIil1YlBMOw

How to Make Google Shopping Work Best For You

With this additional sales channel, every ecommerce store owner can boost their store’s sale to the next level.  With its easy to use interface one can easily maintain the product feed so that all the products are up to date in the inventory section of the store.

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Photographs should not be blurry with a proper description.  You can also use geographical modifiers to hone on those areas you want to sell your products at.

When you create your store with GetMeAShop, our digital marketing experts helps  you display your products on Google shopping by  submitting your feed without mapping your from your Merchant Center dashboard.

 

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Create These Types Of Marketing Videos To Increase Your Conversions.

Videos have always been an excellent way to attract visitors to increase engagement in the community. Depending upon the kind of product you deal in, target community, use of the product, there are varied types of marketing videos you can make to make an impression on others.

Survey shows that 73% of customers are more inclined to buy a product after watching a related marketing video. So it’s the right time for your business to take advantage of the marketing videos strategy in the present e-commerce scenario.

Product Demo Video

Product videos are the most recognizable types of videos and have been in existence for a long time. They are highly popular and allow a potential customer base to experience the product by just watching the video. These videos contain the basics of how a product works and the benefits it provides.
By creating and sharing such a video, you make it easier for the customers to get to know about the full range features of the product and to decide to make a purchase.

How-to Videos

The details oriented videos stand out when sharing information about the product. You can link these videos to the product page as well for the customers who are interested in discovering how to best use the product. Explaining the product features and effectively convincing the viewers to buy from you.

Comparison Video

These types of competitive videos are reluctant to make online purchases. Customers sometimes are confused about buying a product and that is where these videos help. This can influence them to choose from the best suit to their specified needs. These videos not only remove their stress but also give them the tool to discover the positives and negative of their potential purchase.
You comparison video must show the features that set each part of the product apart, highlighting the pros and cons of each of the products.

Review Video

Testimonials and review by client videos are the essential tool for the success of an online store. This id the mirror towards the quality of your products based on what the consumer says. Studies have shown that video testimonials are extremely effective in converting the users. Manufacturers who posts review videos to their product pages and on social media platforms earns more customer confidence than the ones who don’t.

Interactive Video

Certainly, a great way to engage users and get them involved in your e-commerce site. A call-to-action link can be attached to access products and other interactive elements that drive customers to actively participate in the products that you are selling.
While marketing the product online is extremely effective if you boost it the right way and can help you take the video marketing initiative to the next level. By creating and using videos for diverse content on your e-commerce website, you are sure to see an increase in the user’s engagement, sales and loyalty for your brand in the coming times.

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What Is CRM & How Can It Help Improve Your Business?

We are living in an era which is witnessing a splendid surge in the e-commerce industry. If a business is not online, it, surely, is at the sloppy end. There is a stiff competition going on in this online industry. If you have a customer, you’ve got to keep her/him and if you don’t, you desperately need to acquire new ones. Customers are the ones who control your business. Your mere presence doesn’t guarantee your success. You need to tempt your customers. They must consider you as credible and that’s where the concept of Customer Relationship Management (CRM) comes into existence. Now the question is:

What is CRM?

As the name suggests, it is a business strategy that aims to manage good relationships with customers. It involves understanding what a customer needs and what will be the required steps to fulfill those expectations.

It is not a trivial concept. It has evolved. It not only targets on retaining the existing customers but also focuses on acquiring new ones. This is required to solidify your firm’s presence in today’s market.

It comprehensively works towards the integration of every area of business that touches the customer.

How does CRM help an online business?

CRM focuses on creating value for the customer and the company over a longer term. When customers value the service they receive from their suppliers, they are less likely to look for an alternative.

It enables organizations to gain ‘competitive advantage’ over those who are supplying similar products and services.

Today’s businesses compete with multiproduct offerings created and delivered by organizations. Both retaining customers and building value-based relationships are critical to corporate performance. CRM ensures the same.

Statistically, with the use of CRM by an organization, researchers have shown that:

  • Revenues have gone up by 41% per sales person.
  • Customer retention got improved by 27%.
  • Sales and marketing costs have reduced by 23%.
  • Lead conversion improvements of 300%.

Clearly, CRM plays a pivotal role in the development of any business.
However, Gartner analyst Robert DeSisto once said that 85% of the companies that buy CRM software to automate sales efforts don’t pick the right tools because they fail to define business objectives.
This calls for a need to know what CRM actually involves.

What does CRM involve?

  • Organizations must be customer focused.
  • Market research must be undertaken to assess customer needs and satisfaction.
  • Customer needs must be taken into account and delivered properly.

These points must be taken care of by any organization to ensure constructive relationships with the customers and to take the desired steps to make their online business a success and not a side grown mushroom. CRM, in a nutshell, is all about building healthy relationships with your customers. Without customers, there can be no business or success.

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GetMeAShop Partners With PayPal To Allow SMEs Tap International Markets

Ecommerce platform GetMeAShop on Monday said it has partnered with Paypal to enable small and medium merchants sell their products in the international market with the help of the online payments system.

The Times Internet-backed company develops 360 degree platforms and solutions that are easy and affordable for people, enabling them to sell their products online through internet and mobile mediums. Currently, GetMeAShop has more than 8000 registered merchants. The move to partner with Paypal was based on a survey done internally, where more than 30% clients wanted to sell internationally.

“Along with our market leading omni channel technology ecosystem to help them in running their business offline and online, and by making the process completely hassle free, we can now enable and back them for a global footprint.

With a deep technology integration and partnership, we will enable paperless on-boarding on the international payment gateway and are confident our existing merchants will make the most of this association while we welcome other businesses to go online with GetMeAShop.com,” said GetMeAShop, Founder and Business Head, Pushkal Srivastava in a statement.

Along with enabling payments in a safer & more secure manner, PayPal offers Seller Protection which will protect the merchants’ online sales, minimize claims and chargebacks and help prevent merchant fraud. This is particularly important for small merchants selling in the global market place.

“Our partnership with GetMeAShop is in line with our vision to enable small businesses to sell globally.

 PayPal, backed by a strong risk and security infrastructure, presence across 200 plus markets and a base of 192 million active consumer accounts is uniquely positioned to play a pivotal role in enabling these merchants’ access international markets and transact in a safe & secure manner,” said Paypal, Director, Small & Medium Business, Himanshu Rajpal.

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The Year Is Ending: Ways To Stay Motivated & Focused For 2017

Well, we are a few weeks away from 2017 and you while others are preparing for the party and celebrations, you as a startup entrepreneur has a lot to do in advance for the coming year. You need to plan for the coming 12 months to provide you and your workforce a clear idea of what all is coming your way in 2017. You can definitely just breathe, make your plan and can finish the year off strong. Have a look at some ways to end the year celebrating while staying motivated & focused and starting off next year with clear eyes and a clean slate.

Have a clear vision of what you want by the end of this year

As the year-end is approaching, you must know what exactly work is left for this year and what you must achieve by the end of next year. Have a crystal clear idea about the goals and work that you need to finish before 2017 ends. Take a paper and pen and start writing your plan. It is always better to plan now than to spend the first quarter of the next year doing so.

Review your year 2016

Review your current year and the goals that you reached. Note down the flaws and faults and plan ahead for a better business year.

You need a clean computer slate

All you need is a fresh start in the fresh year. This doesn’t mean that you must delete all the files, rather you need to move the piled up files on your laptop’s desktop inside the drive. Clean the system as much as you can without deleting the ones that might need in the near future. Don’t keep your work space disorganized and cluttered.

Your goal for next year is set so stat making progress on it

Don’t wait for 1st Jan to start working for your next year. Head start now on something that you care about for the next year. What’s stopping you? This is the perfect time to take on your next year project that requires focus.

Decide a budget you will spend on your site’s promotions

Do the market analysis and find out the varied ways on where you’ll be spending money for your business promotions. Create a budget for what all and where you’re spending which proves out to be profitable too.

Make. It. Count.

Your growth for the next year depends on the quality of work you do and the plan you have made for the next year. Business, income, and freedom should be there while you are working hard with your team to reach out to those goals.

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How To Go Global With Your E-commerce Business

Do you have products on your website that you feel should reach the international market? Are you all set to go global with your E-commerce business and to sell in the growing international market? There are many e-commerce sellers in India who are not just selling in the international market but are also earring good profits.

If you have planned to sell online and wonder that it would be too much of hassle, here are some ways by which you can start selling internationally easily and quickly.

Choose countries where you can communicate easily

English for that purpose is the safest and easiest option. Many brands outside India are selling in our market. Target a handful of English speaking countries and you can start by targeting them through social media and by getting queries before you start selling to them.

Pick the right products for international market

Finding exciting new products should be the high priority for you as a merchant. Catch the products that are in a wave in the market and are unique. Do market research on what the international customers want. The products you choose should be lightweight and non-fragile as it might get damaged.

Use insurance for all international shipments.

Insurance for your products will protect your shipments against damage or loss. Get Shipsaurance for your products.

Provide information the customers need

Disclose information about the company and the products that you offer so that the customers know what you are dealing with and what the buyer is purchasing. This may include your business address, telephone number, and professional email address. Provide information on the cost of transaction involved including the warranty and guaranty of the product.

A secured payment method

Provide a safe and secure method of online payment to generate more sales. Protect consumer privacy during transactions.

With GetMeAShop, you can sell in the international market with few easy steps. You can simply expose your business to new countries, cultures and customers. Use the site and the above tips to take your first steps across the international borders.

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Why Order & Inventory Management Is The Key to E-commerce Business Success

Keeping an adequate backup of inventory and managing the orders received, canceled or in process efficiently is what leads to the success of every e-commerce business. It helps in ensuring that items needed to run a business are always available in the optimal quantity. Good Order & Inventory management system is when you have enough stock of goods to fulfill the demand of the consumer without having excess to a product that remains unused.

Whether it is an e-commerce store or a brick-and-mortar store, inventory management is one of the company’s major assets and represents an investment that will not reap until the goods are finally sold. The ideal inventory management is when you create a plan that ensures that there is neither a shortage and nor a surplus of the inventory.

Inventory and Order management system are important as it not only ensures that orders that get returned can be replaced with other but also ensures sales in case of unexpected delays in new inventory.

Here are some inventory management best practices

Forecast the need

Observe the market demand and forecast better to understand how much inventory you need for the order fulfillment. To improve forecasting you must improve the quality of pictures you have uploaded on your website, add a good product description.

Stay Organized

Stay organized and know where your processing orders have reached and where your stock is and in which quantity. Inventory tracking helps to manage the stock and for successful business operations.

Never Run Out of Stock

Always have at least one piece of what you are showcasing in your e-commerce store so when you receive a new order, you don’t have to rush to get stock. Receiving an out of stock note on a product is really disappointing for the customers. Make sure to remove the products that have been out from the stock for long. Instead of keeping out of stock note, you can always provide the option of ‘one piece left’ note to gain customer’s attention.

All you need is a customized system

The learning from all these small business owners is that a successful business is one that knows what to sell, as well as how to manage those sales. The ability to organize inventory and keep track of stock reduces the risk of lost sales and disappointed customers.

There are many systems, programs and applications available that can be used by e-commerce stores to successfully do all this.

With the increasing complexities of handling an online business, it has now become very important to have an easy and customized way to handle the stock and orders. This is where inventory management for small business is needed. GetMeAShop provides you with an opportunity to grow as your e-commerce needs change. There are systems, programs & apps available for stock management and orders fulfillment.

With varied technologies and solutions available to e-commerce entrepreneurs, it is always a matter of great research to find the best solution for one’s business needs. GetMeAShop ensures that ordered products are managed and shipped at exactly the time that is specified with an easy store management dashboard.

Some features that the platform provides are

  • Inventory Synchronization across Channels: You can now manage all your data on different sales channels- online store, marketplace and offline inventory from one dashboard. Your data gets synchronized across all these sales channels in real time.
  • Automated and Real-Time Updates: With the real-time feature entrepreneurs can quickly remove out-of-stock products and can avoid overselling without being able to deliver.
  • Store Integration: You can check your inventory on all sales channels including marketplaces such as amazon, eBay, Flipkart etc from one screen.
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Things Every Successful Startup Entrepreneur know

Being a startup entrepreneur, you will come across a lot of things that you don’t know about handling your e-commerce business. With a mind full of questions, the only way to reach success is the commitment to learn continuously.  90% Of Startups Fail: Here’s What You Need To Know About The 10%. Have a look at the things that every successful startup entrepreneur know about their industry to stay on the top.

Know your Business Basics

You can delight your customer for your product only when you yourself have a clear idea of what your product is. There are competitors who have been in the same market for long. You can learn what mistakes to avoid in your business from the people who’ve made them.

Know Sales and Marketing

Being the whole and soul of your business, you must have the sales and marketing knowledge. Learning is one thing and doing it in real is other. Take out time for learning and growing your skills to stand ahead of your competitors.

Know Your Industry.

Knowing only about your business will not help until you know about the industry that you’re working in. Seek out practices specific to your industry Small business success is not a one-size-fits-all experience. It’s important to seek out best practices specific to your industry. Find out the business publications and organizations, your twitter hashtags and common interest groups on Facebook and LinkedIn. For example- a baker needs to know a good delivery service that provides instant delivery, competitors and the USP of the business.

Trust your gut

When it comes to making important business decisions, you must trust your instinct and act accordingly. Do not get influenced by someone else’s decisions. Listen to others but do what you feel is correct.

Your startup doesn’t just need skills and hard work to succeed, it also needs a pinch of luck to survive and thrive in the market but it is always better to know well about your niche before diving in the E-commerce business. Have a product, know about it, learn, grow and recover from the hard-knock life of a startup. There are many other characteristics that you need but If you’ve got these four characteristics, then you’re setting yourself up for major success.