Discover the Best Marketplaces For Selling Your WooCommerce Products
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With an expanding customer base, the role of marketplaces is now supremely crucial for WooCommerce retailers. Involving the right strategies, businesses can target top marketplaces for WooCommerce products and achieve more with optimized efforts.
But, the major challenge arises when you have to decide which marketplace will benefit you in the long run. This blog is all about how you can identify appropriate marketplaces that can have a significant positive impact in your e-commerce success.
7 Reasons to diversify your WooCommerce products on marketplaces
WooCommerce allows businesses to manage their online stores easily, create detailed product pages, and customize promotional campaigns. Moreover, diversifying your WooCommerce product catalog on multiple marketplaces is a smarter choice considering the present competitive scenario. Here are 7 ultimate reasons to consider selling your WooCommerce products on different marketplaces-
1- To reach a more extensive customer base
According to Digital Commerce 360 and Bizrate Insights survey of 1000 online shoppers, around 35% of online shoppers buy from marketplaces at least weekly. Apart from this, the online traffic on significant marketplaces like – Amazon, eBay, Walmart, etc., sums up in billions.
The trust of shoppers and the massive traffic on these marketplaces can be a game changer for you. You might get to penetrate the untapped markets through marketplace listings and generate more orders in less time.
2- Minimization of risk
Diversification strategies are a must opt for online sellers to cope with the risk of losing sales, especially in the modern days. Instead of relying only on your WooCommerce store for revenue, selling on marketplaces assists you with organic reach while diversifying your revenue sources.
3- To increase the ROI
Reports claim that adopting multichannel strategies in your online selling business can boost ROI by up to 24%. Additionally, the customer data helps run hyper-targeted marketing campaigns to bring in repeat purchases. Customer retention is one of the key sources that will keep fueling your ROI in the longer run.
4- Centralized order management
Manage all your orders across channels at one WooCommerce dashboard and eliminate a chunk of hassles. In addition, marketplace extensions can fetch all your marketplace orders to your WooCommerce store with complete automation. This way, you get to improve overall efficiency and reduce errors.
5- Near real-time inventory syncing
Inventory management was a major issue for online sellers a few years ago. But nowadays, sellers are open to quickly adopting the latest in-trend solutions for online scalability. WooCommerce is a super capable platform that can help you sync your inventories across channels in almost real-time with the help of marketplace extensions. Say goodbye to all your inventory-related mess and expand on multiple marketplaces.
6- Set-up the brand awareness
Presenting your brand on marketplaces differs from your own online store. There are limitations when it comes to selling on marketplaces, but when you tweak around, there are still many ways you can highlight your brand over the competitors. Custom brand colors, packaging, thank you cards, discount coupons, etc., are some ways to differentiate your brand.
7- Improves customer loyalty
When everything goes in sync without errors, customer loyalty is the ultimate reward you can expect in return. Organized product listings, synced inventories, and automated order management constitute a significant part of your online retail success. Grabbing a chunk of loyal customers will help you reduce your ad spending in the long run.
Some popular marketplaces with estimated monthly traffic
The digital e-commerce industry has rapidly expanded in recent years, and the contribution of marketplaces is enormous. As a business owner, this presents an opportunity to take your WooCommerce products to a global stage.
So, to shorten your search for the right marketplaces, here is a list of some giant marketplaces with estimated monthly traffic-
Marketplaces known for specific category products
Some marketplaces specialize in specific niche categories of products. If you’re an online seller with a unique lineup of products dedicated to particular customers, then multiple options are available for you as well.
Here are some of the popular niche focussed marketplaces that you can consider for diversifying your WooCommerce products as per your preferences-
Which category products are you selling via WooCommerce?
Product category identification helps you empower your business to reach the exact audience via the right marketplaces. Once you figure out your product category, you can plan to diversify based on where your majority of customers are.
For example, if you’re selling handmade items in the USA via WooCommerce, listing your products on Etsy would be a better option than other marketplaces.
Here are the steps you can follow to simplify your diversification process-
- Identify your product category
- Research on where your audience is
- Decide whether you want to go global or not
- Connecting the right marketplaces
- Marketing (paid/organic)
- Meet your consumer’s expectations
- Optimizing each channel for growth.
How WooCommerce marketplace extensions can help?
WooCommerce marketplace extensions help you connect your WooCommerce store with the marketplaces of your choice. Such tools help you in bulk listing products, seamless order management, and automatic inventory syncing across marketplaces from your WooCommerce store.
At CedCommerce, we enable WooCommerce selling via top-notch marketplace extensions for your sustainable growth. If you’re planning to expand your WooCommerce business with the growing reach of marketplaces, then our WooCommerce professionals are here to help you out. Get in touch with us by clicking here.