Are you where your customers are? Over 73% of customers prefer to shop from multiple channels (source: Harvard Business Review), making multichannel selling a key strategy for eCommerce success. Multichannel Shopify selling can be highly profitable for your online business as research shows that businesses that add a new sales channel experience an average revenue increase of 38%, while those that add three channels see a whopping 190% revenue growth. A multichannel Shopify sales strategy can help you reach your customers at multiple touchpoints in their journey. However, a customer’s search path can be highly versatile and unpredictable when it comes to product discoverability.
This blog post will help you understand the key concepts of multichannel sales strategy via Shopify and reach your customers where they are!
Why Implement a Multichannel Selling Strategy?
Breaking Down Google’s Zero Moment of Truth Theory.
Imagine, your targeted shopper (let’s call her Sara) is looking for a product (cat toys) that you sell on your Shopify store. Sara would usually search for ‘Cat Toys’ on any marketplace, or Google, and start her purchase journey. What are the chances that she ends up buying from you?
You cannot reach out to millions of shoppers like Sara because the Internet has significantly altered consumer purchasing behavior across various sectors. This highlights the importance of the Zero Moment of Truth (ZMOT), a concept introduced by Google. ZMOT refers to the crucial stage in the buying process where consumers research and gather information about products before making a purchase decision.
Therefore, businesses must understand, predict, and be present at the most significant moments of a customer’s product discovery journey.
Who are the Key Players in the Multichannel Selling Domain?
A classification of the multichannel sales channels.
By strategically utilizing these multichannel sales channels merchants can effectively increase their reach. They can also enhance customer engagement and boost sales. Moreover, not only does selling on channels like marketplaces from your Shopify store help to create a robust multichannel strategy but also results in reaching more customers across different channels.
In a nutshell, you provide a consistent shopping experience to your customers across multiple touchpoints.
Challenges in Multichannel Selling Strategy
(And, how to overcome them)
Choosing the Right Sales Channel:
- Challenge: While there are numerous multichannel sales channels, every single one won’t work out for you. So, you need to effectively research and see which channels suit the best for your business model and product offerings.
- Solution: Analyze customer demographics and purchasing behaviors to select the most effective channels. For instance, joining the SHEIN marketplace would be a smart move if you want to sell trendy fashion and lifestyle products in the US. It brings the right customer segment to your product niche.
Confused about your product offerings and which channel to start with? Book a free consultation call with CedCommerce experts.
Inventory Management in Multichannel Selling:
- Challenge: Tracking inventory can be a challenge when you have numerous products and variations across multiple channels. For instance, managing inventory for a Shopify store and also selling on Amazon can be quite daunting.
- Solution: Use inventory management systems like the CedCommerce Amazon Channel to sync stock levels and avoid overselling.
Curious to see how integration tools like the Shopify Amazon Channel work. Check out this video:
Logistics and Fulfillment:
- Challenge: Managing orders flowing in from different channels can be daunting. You cannot miss out on any order and syncing consistent order data across channels is also essential.
- Solution: Automate fulfillment processes and partner with reliable logistics providers. Once you’ve set up your fulfillment partner, opt for tools like the Amazon MCF connector that syncs your account with channels like TikTok Shop, eBay, and Walmart. These tools help you sync your shipment details across multiple channels.
Did you know that all CedCommerce Integrations, including the TikTok Shop Connector for Shopify, come with the amazing feature of order syncing?
Pricing Strategies Across Channels:
- Challenge: Maintaining consistent and competitive pricing across different platforms.
Each channel will demand prices specific to their needs, customer segmentation, and other factors like winning the buy box, etc. How do you ensure dynamic pricing for your products across each sales channel? - Solution: Implement dynamic pricing strategies and use pricing management tools. These tools monitor your competitor’s prices and update your product prices in real-time to ensure profitability.
Product Promotions and Marketing:
- Challenge: Ensuring that your products reach the targeted shopper requires coordinated marketing efforts and promotions across various channels.
- Solution: Develop a unified marketing strategy and use automation tools for campaign management. You can also check out CedCommerce’s promotions services to enhance your listings, boost SEO performance, and implement paid and organic marketing.
(Sounds interesting? Present your marketing needs and goals here).
How to Set Up a Shopify Store and Sell on Multiple Channels
Setting up a Shopify store and integrating it with multiple sales channels involves several steps. Here’s a comprehensive guide to help you get started with your multichannel selling via Shopify strategy.
-
Choose a Shopify Plan:
Step: Select a Shopify plan that fits your business needs and budget.
Tip: Start with the basic plan and upgrade as your business grows. -
Customize Your Store:
Step: Choose a theme that aligns with your brand, customize your design, and set up your domain.
Tip: Use Shopify’s theme editor to personalize the look and feel of your store. -
Add Products:
Step: Create product listings, upload high-quality images, write detailed descriptions, and set prices.
Tip: Use descriptive and keyword-rich titles and descriptions to improve SEO. -
Configure Settings:
Step: Set up shipping options, taxes, and payment gateways to facilitate smooth transactions.
Tip: Offer multiple payment options to cater to a wider audience. Also, provide Buy Now Pay Later options as customers tend to make better purchase decisions on sites with BNPL options.Did you know that more than 13% of holiday shoppers prefer BNPL options? Check out how to maximize your holiday selling strategies here.
-
Integrate Sales Channels:
Step: Choose your targeted marketplace/channel where you want to expand and integrate your Shopify store with that channel.
Tip: Utilize CedCommerce integration solutions for smooth connectivity with additional marketplaces like Amazon, Walmart, TikTok, and more. -
Manage Inventory:
Step: Use inventory management apps to sync stock levels across all multichannel sales channels.
Tip: Consider apps like CedCommerce to automate inventory updates and prevent overselling. -
Streamline Order Fulfillment:
Step: Use Shopify’s order management tools or CedCommerce’s ‘all-in-one’ integration to track and fulfill orders from all channels.
Tip: Automate repetitive tasks using integration tools to save time and reduce errors. -
Market Your Multichannel Store:
Step: Implement a unified marketing strategy across all channels, including social media, email marketing, SEO, and paid advertising.
Tip: Use tools like Shopify Email and Facebook Ads to reach your target audience effectively.
Bonus: Want listings that top the search results on marketplaces this holiday season? Check out CedCommerce’s Promotions Services – market, promote, and boost! Reach out to us.
Check out this detailed video series by Shopify to help you set up your store from scratch.
How to Start Your Multichannel Shopify Selling Journey With CedCommerce?
Ready to begin your multichannel selling journey via Shopify? Contact CedCommerce experts to get assistance in every step of your eCommerce journey.
FAQs
Omnichannel vs. Multichannel: Which is better?
Omnichannel focuses on providing a seamless customer experience across all channels, while multichannel simply means selling on multiple platforms. The omnichannel strategy is generally considered better for enhancing customer experience, but it requires more integration and strategy. Furthermore, multichannel is a great starting point for expanding reach and sales.
What are some effective ways to boost holiday sales on Shopify?
Implement seasonal promotions, discounts, and bundle offers. Utilize Shopify’s built-in discount codes and automatic discounts to attract customers. Not to mention, highlight popular products and bestsellers on your homepage and consider running limited-time sales to create urgency.
How can CedCommerce help with my multichannel selling strategy?
CedCommerce offers a range of integration solutions for Shopify, enabling seamless connectivity with various marketplaces and sales channels. Additionally, they provide tools for inventory management, order fulfillment, and product data synchronization, helping you streamline and optimize your multichannel selling strategy.
How does Shopify work?
Shopify is a comprehensive eCommerce platform that allows businesses to set up an online store, manage products, accept payments, and integrate with various sales channels. Additionally, it offers customizable themes, apps for added functionality, and tools for marketing and analytics.
Is Shopify worth it?
Yes, Shopify is worth it for many businesses. Notably, it’s used by notable brands like Gymshark, Allbirds, and Kylie Cosmetics, which have seen significant growth and success. Furthermore, Shopify offers robust tools and integrations that make it an excellent choice for businesses of all sizes.
Is Shopify free for sellers?
Shopify is not free, but it offers a 14-day free trial for new users to explore its features. However, after the trial, you need to choose a paid plan that starts at $29 per month.
What’s more? Stay tuned for upcoming blogs on nailing your Holiday Season 2024 sales strategies from CedCommerce.