The Secret Art of Managing Multiple Marketplace Seller Accounts to Overcome eCommerce Challenges
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Magento is a flexible eCommerce framework that helps sellers build and grow their business efficiently in this highly competitive industry. We all start with something small with a dream to take it to the next level in the near future. Your curiosity for knowing more about multiple marketplace seller accounts suggests that you are ready to take your small business to the next level now.
If so, you are just at the right place!
Multiple seller accounts in a marketplace can help you experiment and expand your multichannel business in the new region. Whatever your reason is to create a second seller account, this guide will help you understand everything in detail.
Here is what you will learn:
- Concept of Multiple Seller Account for Marketplace
- Benefits of Multiple Seller Accounts
- Challenges Faced by Sellers while Managing Multiple Seller Accounts
- How to Manage Multiple Seller Accounts efficiently?
- Frequently Asked Questions
In case you want to switch to a specific topic, feel free to click on it!
“Amazon, eBay, ManoMano, MercadoLibre, Lazada, Shopee, Groupon, Allegro, NewEgg, Rakuten, Houzz, Walmart, Linio, and Zalando are some of the many marketplaces that allow sellers to create multiple marketplace seller accounts.”
Concept of Multiple Marketplace Seller Account
As the name suggests, having multiple seller accounts simply means that you own more than one seller account on the same marketplace. Usually, the sellers create multiple accounts on a marketplace to expand their business in a new region or tap into a new product niche.
After all, it’s the best way to reach new customers and broaden your customer base. And, when you are doing it, you will obviously pick a marketplace that you already trust and have a solid customer base, won’t you?
Let’s understand it with an instance…
Suppose you have a seller account and a flourishing business of selling Home Decor products on Amazon.com. Now, you want to take your business to another level and broaden your business by selling in a new region. Say you decided to sell in the UK region seeing the demand for these products there.
To avoid confusion and manage everything smoothly, you have to create another Amazon seller account on Amazon.uk. Similarly, you can also create an Amazon account for Australia, France, Germany, Saudi Arabia, the Netherlands, India, and 12 other countries.
Also Read: How to Sell on Amazon in 2021
Note: Amazon is strict about multiple seller account policy. And allows only the sellers who have a legitimate reason and need to create another seller account.
But how creating a separate marketplace seller account will benefit your business? Let’s understand…
How Magento Sellers can Benefit from Multiple Marketplace Seller Accounts?
Over 2.5 million sellers are using the Magento platform for their eCommerce website like you. Merchants worldwide prefer this framework as it provides an easy way to scale one’s business. If you create multiple seller accounts on the marketplace you are presently selling on, here is how it will benefit you and your business:
1. Sell in different regions on the same platform
As I mentioned before, the best thing about having multiple accounts on a marketplace is that you don’t have to experiment with a new platform. You can simply make a different seller account for each region you want to sell on. Now, at this point, you must note that your marketplace must be present in that region. Otherwise, what’s the point, right?
Most importantly, the marketplace you are selling on must have a strong presence in that region. It is because it will directly affect your business.
2. Dominate business in different product niche
You started with one type of business, which later became successful, and you earned profit. But there are other product types that you always wished to sell, or you know you can experiment with. If you include that with your present business, it can affect it. That’s why it is advised to create a separate seller account instead.
Suppose you have a thriving business of reselling less-used products via an auction-based marketplace like eBay. In that case, you can create another seller account to sell new products and expand your business.
3. Increase Monthly Income and Revenue
Having different seller accounts means you have to re-invest in the new one. But you will have multiple sources of income as well. It will ultimately increase your monthly payment and revenue. Maybe the return will be small initially, but it will benefit you in the long run.
4. Reduces Risk
What if something happened to your sole seller account – like it got suspended or, in the worst scenario, got banned? It will stop your revenue at once and destroy your whole online business.
Didn’t that scare you a bit? Now, you must be thinking, why would a marketplace do such things with you, an established seller? There can be several reasons for it – like product policy violation, customer complaints, and more. Even if you request inquiries, it will still take time, and you will have no way of income by that time.
If you have another valid seller account in this case, at least you will have another source of income. It won’t disrupt your business or reputation overnight.
5. Switch to Different Business Model
Multiple seller accounts also allow you to experiment with different business models. For example, suppose your initial business was based on the Business to Consumer model. In that case, you can switch to the Business to Business model and sell to other businesses as well.
But you can’t mix it up with your present business model as it can become further complicated to manage.
6. Split Business and Personal Earnings
Suppose you are presently selling less-used products on an auction-based marketplace like eBay. In that case, you are earning your personal income. But if you want to sell new products now, a different seller account is advisable. It will not only help you split your business, but you can also split your personal earning from the business. Moreover, you can track which business is more profitable and which needs more investment.
If given a choice between a big pool of money and multiple money pots, most of us prefer the latter one, right? Splitting bank accounts and dividing money work the same way!
7. Set Different Market Prices
Creating multiple marketplace seller accounts permits you to expand your business and reach different customers better. You can set different market prices of the same product in different regions (depending on region and demand) to gain maximum profit.
For example, if you are selling a product for $10 on Amazon US, you can sell the same for $12 in the UK. Moreover, you can research the region you are targeting to know about the natives’ purchasing power plus your products’ demand. Then, you can increase or decrease the product’s market prices. Ultimately, it will help you increase sales by targeting the right customers and fulfilling their needs.
8. Add Extra Listings on the Marketplace
Some marketplaces impose restrictions on listings. In simple words, you can list only a limited number of products on your seller account. Due to this, you are bound to sell only a limited number of products. Moreover, it can hinder your progress as a seller when you are planning to expand your thriving business. And, no one wants that!!
To overcome this, you can simply create another seller account on the marketplace. Many merchants do the same to list more of their products on the marketplace. Doing so gives them the liberty to list and sell any number of products.
Also Read: How to sell on eBay marketplace
The benefits of multiple seller accounts in Magento become limitless once you start managing them efficiently. But it’s not as simple as it sounds. Here are some challenges that will come in your way –
Challenges of having Multiple Seller Accounts for a Marketplace
Having multiple marketplace seller accounts can benefit your business and increase your revenue many folds. But there are few challenges that will come your way if you decide to create multiple seller accounts.
These challenges include: –
Manual Product Listing:
If you want to list your products on a new Seller account, you have to do it manually one by one. It not only consumes a lot of time but also increases the chances of errors.
Somehow, you have uploaded your products to your new seller account, but your work doesn’t end here! You have to keep them updated as well. And to do so, you have to again count them manually and hit that update button for each of them one by one.
The steps mentioned above weren’t the most challenging part if you thought so. The toughest thing is managing and keeping information constant on all the connected platforms. It is also a crucial part of online selling. If your stock isn’t updated after the purchase, it can result in overselling plus affect your reputation.
No matter how efficiently you manage your tasks or products on your seller account, we are still humans. And, we are prone to making mistakes, which can sometimes turn into blunders. It is true, especially when you are selling online and managing so many products at once.
Loss of Time:
Uploading products, updating data, and managing orders on multiple platforms one by one can consume many hours of your day. You could have utilized this time in doing some other activities like planning a marketing strategy, selling plans, and more.
These are some real challenges that can affect your online business. Then, what should you do? Drop the idea of creating multiple marketplace seller accounts?
Every problem has a solution, and we have one for you as well.
The challenge you are facing is because you have to do everything manually, right? So, if you could just make everything automated, it would solve all your problems. But how? Let’s find out!
Also Read: A Complete Guide on Multichannel Selling
How to Manage Multiple Marketplace Seller Accounts efficiently?
Have you ever wondered how large-level sellers manage so many of their seller accounts so efficiently? We know the secret! And we want you to also know it as you are planning to expand your business.
Many eCommerce solution providers in the industry have been developing products to make selling smoother for online sellers. eCommerce marketplace Integration is one such product. The best part, you are a Magento seller, a platform that supports over 5000 extensions. Let’s know it better!
What is an eCommerce Magento Integration?
eCommerce marketplace Integration is an automated solution. It was created to reduce manual tasks on the marketplace by converting them into automated ones. This extension connects all the seller accounts, be on the same or different marketplace, to a single Magento panel. At the same time, the Cron Job scheduler establishes perfect synchronization among all of them.
Consequently, all the products, order details, prices, shipment activities, and other data are uniform across all the connected channels. Plus, the seller can manage and track everything from a single platform instead of switching between the channels.
Features of eCommerce Integration
Here is the list of features that come with eCommerce Integration: –
Centralized Control over Connected Accounts:
The main benefit of eCommerce Integration is that you get a centralized Magento dashboard. You can view, manage, control, and track all the activities happening on different seller accounts in real-time. So, you don’t have to sign in/out of the marketplace now and then.
Bulk Product Upload:
With this extension, you no longer have to worry about uploading products on the marketplace one by one. You can just select any number of products that need to be uploaded, and it will be done with just a few clicks.
Automated Order Management:
This Integration further makes your work easier by automatically acknowledging the new orders on the marketplace. Once the order is acknowledged, it will then import them to your Magento store. So, you don’t have to worry about missing new order notifications.
The best thing about Integration is that you don’t have to worry about updating information on different seller panels manually. The extension provides an auto synchronizer that updates the data in real-time whenever you make a change.
This Integration will keep you updated with the shipment-related activities. It will update the information regularly so that you can track the shipment in real-time.
Low Stock and Error Notification:
As a seller, you must be aware of all the activities on the marketplace you are selling on. And low stock or error information are a few of them. So, the extension keeps a check on your seller account and inventory count. As soon as there is an error or your stock goes down the marked limit, you will receive a notification.
Cron Job scheduler has the leading role in automating everything on the extension. It simply establishes a real-time connection among the seller accounts. In this way, all the information stays the same on all the connected channels. And, you stay informed of all the activities on the marketplace.
Frequently Asked Questions
Q. How many Seller Account can I have on a single marketplace?
The number of Seller Accounts usually depends on the marketplace you are selling. But I will advise you to open only the number of seller accounts you need and not apply for the one without a purpose. The marketplace may impose a penalty or account suspension if they find out.
Q. Can I get Banned for opening multiple seller accounts on the same marketplace?
Some marketplaces are pretty flexible about opening multiple seller accounts. But others aren’t. So, you must go through the seller’s Terms and Conditions to understand it better. Plus, you will need a legitimate reason to open another seller account on a marketplace. Also, the second account must be completely different from the first one. Otherwise, the marketplace will consider both seller accounts similar and may suspend them altogether.
Q. What are the legitimate reasons a marketplace approves for creating multiple seller accounts?
Here is the list of justified reasons you can have for creating multiple seller accounts:
- Having various brands for which you maintain separate businesses
- Manufacturer for two distinct and separate companies
- Want to sell different types of products than your primary seller account
Q. What do I need to open multiple seller accounts from the same location?
Some marketplaces are pretty flexible about creating multiple seller accounts, and others aren’t. For example, Amazon is quite strict about its Multiple Amazon Seller Account policy. In contrast, eBay is very flexible about the same and doesn’t ask many questions for creating multiple accounts.
Here is what you need to avoid account suspension and penalty while creating multiple seller accounts: –
- Unique email address and bank account for different Seller accounts
- Products that are entirely different than the existing ones
- Primary account must have excellent customer metrics
- A clear intention for not selling the same product or service from the primary account
Multiple Marketplace seller accounts open up many doors of opportunity for the sellers. And, it is one of the effective ways of multichannel selling to expand one’s business. Above all, it gives sellers a chance to make a strong presence in a new region.
Now, you know how to effectively manage multiple seller accounts in a marketplace. What are your thoughts on this?