How Cedcommerce’s multi-vendor marketplace solves promotion related problem?
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Online shopping is the topmost trend in the current scenario. With the number of online buyers raising up to 1.92 billion, online shopping has emerged as one of the favorite online activity 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 in order to make the online experience convenient and time-saving.
The multi-vendor marketplace platform has become the most popular way of selling and buying both physical and digital products. Small business organizations, as well as the giant organizations, are finding their way online by creating their own multi-vendor marketplace.
To stand out in the competitive world of eCommerce, it is vital for your multi-vendor marketplace to be exceptional. The entrepreneurs from all around the world are trying to beat each other in order 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 explaining the goal and approach of your multivendor marketplace 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 the 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?
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
It is extremely essential for the growth of your multi-vendor marketplace to adopt favorable approaches that can be helpful in acquiring sellers and customers. In order to make your virtual multi-vendor marketplace, a globally famous and giant marketplace platform, it is very important to build an effective promotion strategy. Talking of which, let’s have a look at the top requirements for your multi-vendor marketplace:
- Foremost need for any vendor is review and rating feature on his store to make his services better and to promote his products with the reviews by customers.
- The vendor needs to apply discount 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.
- It is necessary for the vendor to mention the timer for his deal (start and end date) to avoid dilemma situations about the running time 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 had assumed a fundamental part in expanding the offer of the organization.
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 provide this addon to their vendors in order to help them to manage various kind of offers at different places like you can avail the offer at cart or catalog but with 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 on a particular product category (before adding it to the cart) he can opt for catalog price rule it offers.
- Offering deal for any of the product category
- Offer on product page
- Offer for a free sample
Shopping Cart Price Rules
Whereas in shopping cart price rule discount can be availed on the basis of
- 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 as per their demand.
Check out the Vendor Promotion Rule Addon here.
Vendor Deal Addon
Cedcommerce multi-vendor marketplace package offers “vendor deal addon” which allows its clients to offer deals to customers where the customer is approved to run promotional offers for his clients and vendor have all the rights to manage offers and can amend them at any time.
There are heaps of Great deals which vendors can run-
- Offer for a free sample
- Flat sale offers
Also, it totally depends on the admin and vendor at what time do they want to run 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 deal for any of the product is their decision
- Shows message 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 on the basis of 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 for them 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 that what are the views of the user about the product.
Review and rating option is indirectly a promotion technique through which you can show evident proofs about the popularity of your product.
- Review and rating are one of the users generated content which helps the indirect promotion of your business.
- Reviews and ratings help to elevate your store’s image in public.
- Assist customers to develop a persona about the product with the help of reviews of existing users.
Know 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 amount. 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
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 his wallet balance/points.
The Bottom Line
CedCommerce offers the required technical solutions which are tailor-made for building a platform like 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 a bevy of features in order to aid the development of a rich multi-vendor marketplace with the best functionality.
So, it’s time for you to make the best out of your online multi-vendor marketplace. In order 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!