Having the right online marketplace to sell can make the difference between the venture excelling and it hitting the ground crashing. It doesn’t quite matter if you are an established merchant or just a small start-up that wants to make a difference, being on an online marketplace that inhibits your growth and reach can have stark effects on your company’s growth in the long run.
There are a few characteristics that make an effective and safe online market place. We shall be looking at some of those characteristics that you must take note of before your set one. Read on…
Being on a marketplace platform that has a ready customer base can make a big difference in how many potential clients are able to see you. Having a marketplace that has high traffic is desirable for the most part. There is no denying that the quality needs equal weightage, if not more, but if you are an organisation that is in a niche market that is not as well-established, then having a steady flow of visitors to the site is good.
How Is The Fee Structure Of The Platform?
When you are selling at a marketplace, you must pay a fee. Take a minute to look into the fees that the marketplace demands for having access to its customer base. Find out if they charge commission on sale, a listing fee or a completely different structure.
Along with this, you must also consider the other additional fees such as the shipping fees, marketing fees and other costs that will be incurred on your part. Does the fee justify the quality of customers and the visitors who check your products/ services?
Does The Marketplace Support You?
There must be support in terms of tools for sales and marketing- things that most marketplaces nowadays offer. Even if this is not of importance to you at the moment, it will be in the future if your business is to grow. These tools help streamline your online business and help in better management of various functions. Find out what they offer to you and find out the fees that they leverage too.
What Are The Rules And Regulations Of The Marketplace?
You won’t have the same level of flexibility if you are on another marketplace. What is the control that you have when it comes to selling? Can you effectively showcase your branding on a certain location in the marketplace? Can you open up your own store on the marketplace? These are the important things you need to consider.