How Cedcommerce’s multi-vendor marketplace solves promotion related problem?

Online shopping is the top trend in the current scenario. With the number of online buyers rising to 1.92 billion, online shopping has emerged as one of the favorite online activities of the population. At this point, the multivendor marketplace is the latest buzz around the eCommerce industry. The Cedcommerce multi-vendor Marketplace solutions are made to make the online experience convenient and time-saving.

The multi-vendor marketplace platform has become the most popular way to sell and buy physical and digital products. Small business organizations, as well as giant organizations, are finding their way online by creating their multi-vendor marketplace.

To stand out in the competitive world of eCommerce, your multi-vendor marketplace needs to be exceptional. Entrepreneurs worldwide are trying to beat each other to rank high in the eCommerce industry.

Importance of Promotion in a multi-vendor Marketplace Platform

In such a competitive environment, the best you can do is explain your multivendor marketplace’s goal and approach to the audience. Promotion is one major factor that decides the future of an online multivendor marketplace. The better your promotion strategy, the more audience you have. But dealing with promotion-related issues can be a tough and time-consuming task.

But, we have got it covered for you. Cedcommerce can help you in solving the promotion-related problems of your marketplace. Want to know how?

Let’s begin!

Here is a stat by eMarkter that shows the increase in retail e-commerce sales year by year.

There is a lot to do to promote multi-vendor marketplace

The growth of your multi-vendor marketplace needs to adopt favorable approaches that can help acquire sellers and customers. It is very important to build an effective promotion strategy to make your virtual multi-vendor marketplace a globally famous and giant marketplace platform. Talking of which, let’s have a look at the top requirements for your multi-vendor marketplace:

• The foremost need for any vendor is a review and rating feature on their store to improve their services and promote their products with customer reviews.
• The vendor needs to apply discounts specifically (category-wise) on his products so that he can target customer specifically on product and type, which allow the customer to directly select the product category running on discount, which is less hectic for the customer.
• The vendor must mention the timer for his deal (start and end date) to avoid dilemma situations about the running period of the offer.

CedCommerce Multi-vendor Marketplace Solution is without a doubt the best stage for creating an online multi-vendor marketplace, completely stacked with add-ons that are equipped for illuminating each advancement-related issue. Promotion is the ideal approach to drag a natural activity to your site because it has assumed a fundamental part in expanding the organization’s offer.

Here is a list of add-ons available with Cedcommerce multi-vendor marketplace to enhance promotion-related problems:

Vendor Promotion Rule Addon

Cedcommerce multi-vendor marketplace provides this addon to their vendors to help them manage various offers at different places. You can avail of the offer at cart or catalog, but different rules are set to offer different deals.

Catalog Price Rules

If a vendor wants to apply a discount on a particular product page or product category (before adding it to the cart), he can opt for the catalog price rule it offers.

• Offering deals for any of the product categories
• Offer on product page
• Offer for a free sample

Shopping Cart Price Rules

Whereas in the shopping cart price rule, a discount can be availed based on

• Offer for free shipping
• Buy X get Y free
• Discount on order total
• Coupon code

These offers are applicable after adding the product to the cart so that the user can mend these rules per their demand.

Check out the Vendor Promotion Rule Addon here.

Vendor Deal Addon

Cedcommerce multi-vendor marketplace package offers “vendor deal addon.” It allows its clients to offer deals to customers where the customer is approved to run promotional offers for their clients. Moreover, the vendor has all the rights to manage offers and can amend them anytime.

There are heaps of Great deals which vendors can run-

• Offer for a free sample
• Flat sale offers

Also, it depends on the admin and vendor at what time they want to run the offer and what kind of offer they would like to run. There are lots of features like

• Deal end timer
• List deal on list page or view page (or both)
• Offering a deal for any of the products is their decision
• Shows messages with deals to the customer

Check out the Vendor Deal Addon to know more.

Vendor Badge Addon

Cedcommerce multi-vendor marketplace package vendor badge add-on is a strong checking and regulation tool that authorize the administrator to award badges to the vendor based on sales and rating they get from the client.

• Badges are only assigned to selective vendors. (Trust badge)
• They can not hide these badges from the customers.
• It is beneficial for the vendor as it develops trust and increases the conversion rate.

Check out the Vendor Badge Addon here.

Vendor Review And Rating

Before we buy any product, what do we do?

1. Check online insights about that item.
2. We want to realize the user’s views about the product.

The review and rating option is indirectly a promotion technique through which you can show evident proof of the popularity of your product.

• Review and rating are one of the users generated content that helps the indirect promotion of your business.
• Reviews and ratings help to elevate your store’s image in public.
• Assist customers in developing a persona about the product with the help of reviews from existing users.

Learn more about the Vendor Review and Rating here.

Refer a Friend

The Refer A Friend extension provides an exciting way to attract new customers to your Magento 2 website through an incentive-based referral system. On every new sign-up through the referral, both the referrer and the newly registered customer receive a bonus. This extension motivates existing customers so that they invite more customers to your Magento 2 website.

Key features of Refer a friend:

• Diverse Invitation Channels- Customers can invite their friends through various channels
• Conversion Tracking- Admin has access to detailed log and referrals
• Customizable Reward- Admin configurable referral and sign-up bonus for both invitee and invited the customer
• Multiple Discount Rules- Admin can configure min. cart amount required to apply various discount coupon amount
• Transaction Summary- Admin can view balance bonus amount of individual customer

Also read: How Cedcommerce Multi-Vendor Marketplace solves Sales Related Problems?

Customer Reward Management

It facilitates the logged-in user to receive points after order completion so that it can be used as a discount.

Key Features of Customer Reward Management:

• Nurture Relations- Establish a healthy customer-seller relationship
• Unlimited Rules- Admin is enabled to define any combination that works best for his business interests
• Full control- Admin can change or discard rules
• Redemption- Points can be redeemed at the front end
• Customer Notification- Notifies customers about their wallet balance/points.

Also Read: How Cedcommerce Multi-Vendor Marketplace solves Shipping Related Problems?

The Bottom Line

CedCommerce offers the required technical solutions, which are tailor-made for building a platform, as discussed above. CedCommerce’s Multi-vendor Marketplace Platinum Package and addons are readymade affordable solutions for developing an e-commerce website. These extensions come with many features to aid the development of a rich multi-vendor marketplace with the best functionality.

So, it’s time for you to make the best of your online multi-vendor marketplace. To make this journey smooth, Cedcommerce can be your back support. Our multi-vendor marketplace solutions have been helping businesses to stand out in the tough competition. Get in touch with us today to know more!