Online marketplaces have been the buzz of the retail industry for the past several years. These platforms have become so popular that the largest ones have millions of products to offer. As a result, online marketplaces have given birth to the fiercest competition within E-commerce. There’s now a need for marketplace sellers to stand out.
So how do you become an effective marketplace seller? We asked Payo’s Marketplace Manager Kim Casaje about the characteristics that an online seller must have, and here are her insights.
Believe it or not, a big part of running a successful online marketplace store is organization.
“Well-designed, organized stores make it easier for customers to find what they’re looking for,” Kim noted. This ranges from having accurate product descriptions and labeling items right, to putting the right tags and photos for your items. A well-curated store can keep your customers continuously scrolling.
And also, you need to be organized in terms of knowing your inventory. You have to monitor what’s going in and out of your online store, as well how your store is doing. If you are unorganized, expect havoc for your business.
Be confident and decisive
Making decisions is what marketplace sellers do daily. This is why it pays to build self-confidence in your decision-making over time. And how do you do it? Kim said merchants should spend time developing their knowledge and understanding of E-commerce. Merchants need to stay updated on everything, as the industry is very dynamic and disruptive.
Doing this will give you a better chance of making the right business decisions. It can also help establish your credibility among your employees, customers, and business partners.
Another vital tip that Payo’s resident marketplace expert shared is that merchants should be analytical.
“An analytical online marketplace seller can scale their store easily if they base their promotions on historical data such as sales and store traffic, and other analyses like pricing, competitor, and market analysis,” she further explained.
In the online marketplace, persistence is the name of the game. Kim added that an online marketplace seller “must be persistent in a way that when they need answers to questions that can help their store grow, they pursue those answers until they find them.”
Marketplace sellers always need to be sure that there are no stones left unturned in their E-commerce journey. It can be challenging, but having this mindset will enable them to grow in the industry.
Be accommodating to your customers
When you are a marketplace seller, patience is everything. Even if this isn’t your strongest suit, you still have to know how to deal with customers. You have to learn how to accommodate their needs, especially the difficult ones.
“Having great social skills and being approachable and likable has always been a cornerstone of any good salesperson,” Kim said. Remember, how you deal with them can make or break your E-commerce success. Try to be an accommodating seller at all times, and not just when complaints are there.
There is a lot of competition in online marketplaces. But nothing is impossible as long as you believe you can succeed.
Optimism is one of the most important traits that marketplace sellers should have, according to Kim. As a marketplace seller, you can’t expect that there are great sales all year-round. But even in these situations, you must be your own business’ biggest cheerleader.
“When you are optimistic about your business, it breeds confidence. Customers can see and feel your can-do, positive attitude! If you don’t believe you can sell, then you probably won’t,” Kim added.
Success in online marketplaces does not happen overnight. While these traits are helpful for merchants to be effective and efficient, it requires passion, expertise, and some marketing chops to succeed. “The good news is that there are E-commerce enablers to help merchants scale their business in online marketplaces,” closed Kim.
Payo, one of the Philippines’ leading E-commerce enablers, does this and more. From Warehousing and Fulfillment to Marketplace Optimization, Payo can help address your needs and drive growth in your E-commerce business.
We take E-commerce seriously with our range of tech-based services like Live Customer Support, Last Mile Management, Woocommerce Integration, and Shopify Integration. These services are designed to make the other aspects of your business hassle-free.
Want to level up your online marketplace strategy? Sign up with Payo today or send us a message at [email protected] so we can help you become an effective marketplace seller!