7 tips to better sell on online marketplaces as a business

Selling on marketplaces is an opportunity for e-tailers looking to open up a new sales channel. But to stand out from the competition and ensure the success of your presence on marketplaces, a few best practices need to be put in place.

Here are our 7 tips for selling effectively on online marketplaces and making them a real growth driver for your e-commerce!

What is a marketplace?

A marketplace is a website that brings buyers and sellers together. It’s a multi-seller commerce platform with a large audience of potential buyers.

An online marketplace is like a digital shopping mall, bringing buyers and sellers together while offering them additional services to make their daily lives easier. It can be generalist, offering many different products, like Rakuten, or specialized in a specific product universe.

Why sell on a marketplace as a business?

Marketplaces are increasingly popular with consumers, who appreciate the wide choice of products and sellers available on a single site. According to McKinsey figures, up to 70% of online commerce is expected to take place on marketplace platforms by 2025.

But the benefits are just as numerous for sellers!

1. Gain visibility with a vast, qualified audience

Thanks to their wide range of references and marketing resources, marketplaces generally have a large audience of buyers.

By being present on these marketplaces, you can easily reach new customers who are already ready to buy because they’re looking for products like yours.

2. Secure payments

Marketplaces manage payments to sellers and deliveries to buyers. Your exposure to the risk of fraud is therefore reduced by using trusted partners.

3. Activate multiple sales channels

Being present on one (or more) marketplaces enables you to easily open up a new sales channel, so you don’t put all your eggs in one basket.

If, for example, your e-commerce site is inaccessible following a spectacular craze for your products that has generated too many web visitors, these potential buyers will still be able to find your products on a marketplace.

4. No need for a website

Marketplaces are also an ideal way to get started in e-commerce quickly. You don’t need your own site, and you can already test your offer with a large audience.

5. Benefit from additional services

Marketplaces offer a wide range of services to make life easier for sellers. Logistics services, marketing, payment in three instalments… ready-to-use services that can save you a lot of time!

 

 

7 best practices for selling on online marketplaces

1. Take care of your product sheets

To sell well on marketplaces, it’s essential to have well-crafted product sheets. They must be attractive, while presenting all essential information to the buyer.

Your product sheets should include :

• A clear, explicit title
• Professional photos: your photos can show the product from several angles, but also show it in full use, and potentially a diagram with precise dimensions.
• Product features: all the details that can help the buyer make a decision (dimensions, technical details, etc.)
• Product advantages: why is your product better than others?
• Variants: colors, formats, if any.

As for form, the information on your product sheets should be easy to identify at a glance. Use bulleted lists or Questions & Answers to structure the information.

2. Constantly adjust your prices

Your pricing strategy will play an essential role in your success on marketplaces. Unsurprisingly, price is a key decision criterion for buyers. But on a marketplace, buyers can directly compare your prices with those of your competitors.

You’ll need to compare yourself with the competition to adjust your prices accordingly, so you can continue to win sales while making margin. This is a question you need to ask yourself on an ongoing basis, to make sure you always have the most winning pricing policy for you.

3. Provide impeccable customer service

A simple way to stand out on a marketplace is to provide quality customer service. Of course, this means meeting delivery deadlines, honoring orders and responding to complaints.

But you should also take the time to answer questions asked by visitors to your product pages, or to thank customers who have left a positive review.

The quality of this service will have a direct impact on your performance on the marketplaces, as their algorithms give priority to sellers with the best customer ratings. Rakuten, for example, uses the Merchant Quality Score (MQS), a rating based on customer satisfaction (based in particular on buyer ratings), delivery experience (based on time and options) and catalog quality.

Your MQS is accessible from your seller account, and we’ll give you tips on how to improve it on an ongoing basis.

4. Offer sales promotions

A good way to capture the attention of buyers on a marketplace is to propose limited-time offers: flash sales, cashback, free delivery.

Marketplaces help you to animate and make visible your commercial operations, enabling you to capture new sales.

For example, Rakuten offers its sellers the opportunity to set up Rakuten Coupons. Products benefiting from a Rakuten Coupon are then placed in various strategic locations, such as the Rakuten Deals page, and are relayed in our newsletters and through several acquisition levers.

5. Take care of your brand image

Just because your products and your brand will be present on a site you don’t manage doesn’t mean you shouldn’t pay attention to your brand image!

Your products and your brand must remain recognizable even on marketplaces. This can be achieved via the visuals on your product sheets, the brand tone in the description, or by creating a personalized e-shop on the marketplace.

On Rakuten, for example, you can create an E-Shop: a space entirely dedicated to your offers, allowing your visitors to discover your brand universe. Whether it’s customized banners, the organization of your shop window or the highlighting of offers and products according to the year’s key moments, you’ll always be in control of your brand.

 

6. Track your best-selling products and highlights

To anticipate ups and downs in demand for your catalog, it’s important to be able to analyze seasonality and understand which products are your bestsellers.

This will help you maximize your time and ensure impeccable service, while anticipating times of low consumption to stimulate demand.

Most marketplaces provide you with analysis tools to help you take these points into account.

7. Choose the right delivery methods

There are just as many delivery preferences as there are consumer behaviors. For 54% of consumers, the ease with which they receive their parcel is the main factor in a positive shopping experience, according to an eMarketer study.

So it’s essential to diversify your delivery options to satisfy all your customers’ purchasing behaviors.

For example, a recent study by Temando showed that 82% of consumers would like to pick up their parcels at relay points, while only 50% of sellers offer this option.

Here are the different delivery methods you can offer:

• Standard delivery: The most widespread model, where the product is delivered between 2 and 5 days after the order is placed.
• Express delivery: This 24-hour delivery service is essential to meet the needs of busy consumers.
• Relay point delivery: This mode of delivery is essential for consumers who are unable to receive their parcel in person during the day. Via the point relais, they will be able to collect it at their convenience.
• Click & Collect delivery: This service allows you to do away with delivery charges. It’s an ideal solution, allowing your buyers to collect their orders directly from the store or warehouse. Offering a physical point of sale is reassuring and a real time-saver for your customers. It’s also an opportunity to attract new customers to your physical points of sale.

Join the marketplace that brings everyone together

At Rakuten, we support the digitalization of retailers. Our aim is to help you grow. That’s why every seller on Rakuten is accompanied by an E-Commerce Consultant who helps you optimize your presence and win sales on our marketplace. Create your store for free on Rakuten!