As a brand, you want to be where your customers are – it only makes sense! It’s where you’ll expose your brand to new audiences, add new potential customers, and the bottom line – make more sales.
And where are your customers? Online!
Online marketplaces, department stores and boutiques have become some of the best marketing channels that exist today. Think of eCommerce giants like Walmart, Nordstrom and Zalando. Brands are thriving online because they know one important concept:
Being online is essential.
What Is an Online Marketplace?
An online marketplace is any type of eCommerce website where multiple third parties provide a product or service. They are the primary type of multichannel eCommerce and are great for streamlining the production process.
Why Sell on Online Marketplaces?
As a brand, one of the top benefits of selling on online marketplaces is gaining access to the millions of customers it has. As marketplaces are some of the best marketing channels for brands, it has become an ABSOLUTE MUST to join the momentum.
Let’s explore the TOP 5 REASONS why you should be selling on marketplaces:
- Increased Sales – The apparent benefit of expanding to marketplaces is the potential to increase sales and profit – each marketplace has its own audience, often overlapping. This means your brand directly benefits from their reach both with the marketplace’s customer base and their marketing spend and social reach – leaving the hard work to the marketplace to get your brand in front of new audiences.
- New Potential Customers – With marketplaces, you instantly reach millions of customers and automatic access to all its customers without spending any money on marketing.
- Builds Brand Strength – The more a consumer sees your brand, the stronger it becomes.
- Free Marketing – Marketing your brand is a considerable expense, so why not take advantage of the free marketing you gain from the marketing these marketplaces create!
- No Additional Expenses – Selling on marketplaces naturally expands your brand’s reach with no additional expenses.
And as a bonus, we should also mention that manually managing these connections is nearly impossible to scale on your own.
Selling on Marketplaces as a Marketing Channel
How much would it cost to have Facebook and Google impressions to get a million views on your site instead of selling on Macy’s, which receives millions of visitors a day? Let’s just say it would be a significant chunk of your marketing budget. The amount you would save just on the marketing side of the equation is more than its weight in gold.
Opens the Door to Retailers
Marketplaces also help get your foot in the door with those retailers you’ve had your eye on. Think of them as a curated introduction approach. These strategic partnerships create tons of opportunities to collaborate with retailers and affiliates and build long-term relationships. You just never know where those relationships will take you!
Drop Ship and Curated Marketplaces
Curated marketplaces are also on the rise. Compared to an open marketplace that accepts anyone (Amazon, eBay, or Walmart), drop-ship platforms and curated marketplaces (NBC, express, JCrew, Madewell, Maisonette) have the power to choose the brands they want to work with. There’s a merchandising process that every brand must go through.
There are clear advantages to drop shipping and curated marketplaces, including product creation, inventory management, order and return processing, and more.
Reaching Micro Groups Through Boutiques
Another rising advantage is selling on boutiques. This provides the brand a specified unique advantage to focus on locations and demographics. Boutiques are known to carry smaller inventories and specialize in selling high-quality, stylish products. On top of that, they offer unmatched customer service, specializing in meeting unique needs and catering to a specific customer base. Boutiques are usually started from an entrepreneur’s passion and have the reputation of providing quality products which is why brands want to participate.
We’ve seen a strong interest in brands and their desire to sell on boutiques, and we are proud to say that we are the only company supporting these connections.
Strengthen Your Brand’s Reach
Join the momentum and be exactly where your customers are. It’s harsh, but if you aren’t, your competitors will be. The more places your target market sees your name, the more likely they will become acquainted with your brand. Cymbio can start connecting your brand to multiple retailers and automating the day-to-day, making this part of your business a breeze. This way you won’t have to choose between channels.