Marketplaces are big and typically have millions of products listed at any given time, so what do you REALLY need to drive sales on marketplaces?
1. Have a relationship with the marketplaces
Start building a direct relationship with the teams at marketplaces, don’t be afraid to ask for a call or face-to-face meeting. Relationships unlock doors, opportunities and levers to drive sales!
2. Commercial Flexibility
Already have a direct relationship with marketplaces? They are probably asking you to participate in events or deals. Make sure you participate in as many as possible, set up your operations team to enable you to jump into events/deal positions at the last minute. Marketplaces like sellers that can participate in events, as it helps them make more money too.
3. Strong Operations
Marketplaces set high service standards, so make sure you meet and exceed them all at all times. Exceeding service targets is leverage to participate in merchandising opportunities too.
4. Product Content
We cannot stress this enough, make sure you have great product content. Really invest in great images, great copy writing and product attributes. High quality and relevant content is the key to making sure your products get found and is a prerequisite for the event and deal participation!
5. Marketplace Management Tools
There is no doubt you need a great tool, but make sure you pick one that is flexible and works in a fast-paced environment. Avoid over investing in expensive tools with features that don't drive sales! (Check out our other post on this here)
Nail these 5 things and you shouldn't have a problem driving sales month on month. One final take away, don’t be afraid to ask for support. If you are having a bad month of sales, ask the marketplace for support, if you are having a good month of sales, ask the marketplace for more support! Being proactive is everything.