{"id":3450,"date":"2022-08-25T19:41:18","date_gmt":"2022-08-25T19:41:18","guid":{"rendered":"https:\/\/new.rithum.com\/blog\/uncategorized\/selling-on-multiple-marketplaces-you-need-these-7-tips\/"},"modified":"2022-08-25T19:41:18","modified_gmt":"2022-08-25T19:41:18","slug":"selling-on-multiple-marketplaces-you-need-these-7-tips","status":"publish","type":"post","link":"https:\/\/www.rithum.com\/blog\/selling-on-multiple-marketplaces-you-need-these-7-tips\/","title":{"rendered":"Selling on Multiple Marketplaces? You Need These 7 Tips"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p><span style=\"font-weight: 400;\">You hear it over and over again: \u201cDiversify your channel mix\u201d and \u201creach shoppers wherever they are.\u201d But sometimes, that\u2019s easier said than done. Joining new marketplaces comes with a number of challenges, from lack of channel-specific expertise to thinning profit margins. Plus, the e-commerce landscape is more competitive than ever.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Yet, challenges like these shouldn\u2019t stand in your way to multi-marketplace bliss. Instead, conquering them requires a <\/span><a href=\"https:\/\/www.rithum.com\/ecommerce-strategy\/brands\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">holistic approach<\/span><\/a><span style=\"font-weight: 400;\"> that takes your marketplace strategy well beyond listing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We recently hosted a webinar featuring <\/span><a href=\"https:\/\/go.rithum.com\/Successful-Multi-Marketplaces-Webinar.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">7 Steps to Successful Multi-Marketplace Selling<\/span><\/a><span style=\"font-weight: 400;\"> to help you develop a cohesive plan to manage multiple accounts \u2014 without draining resources.\u00a0<\/span><\/p>\n<h2><b>How to Win at Multi-Marketplace Selling<\/b><b><\/b><\/h2>\n<h3>1. Get everyone on board.<span style=\"font-weight: 400;\">\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Too many brands still operate in silos. But aligning your teams, from marketing to sales to finance, is critical for a united front that impacts brand growth. Elect a project manager to oversee this cross-functional strategy, help set goals, conduct research and keep everyone on track toward a common objective.<\/span><b><\/b><\/p>\n<h3>2. Strengthen retailer relationships.<\/h3>\n<p><span style=\"font-weight: 400;\">Expanding across marketplaces can be a touchy subject with your retail partners. The best way to approach this is to communicate your intent to sell directly to consumers early in the process. Be sure to set expectations and inform retailers what your marketplace expansion will mean for your ongoing partnership.<\/span><b><\/b><\/p>\n<h3>3. Clean up your product catalog.<\/h3>\n<p><span style=\"font-weight: 400;\">What does your product content say to shoppers? Improve your chances of marketplace success from the start with clear, organized content that entices shoppers instead of chasing them away. Tailor your content to the audience where possible and be sure to include fields like:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\" aria-checked=\"false\"><span style=\"font-weight: 400;\">Titles<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\" aria-checked=\"false\"><span style=\"font-weight: 400;\">Descriptions<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\" aria-checked=\"false\"><span style=\"font-weight: 400;\">Images<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\" aria-checked=\"false\"><span style=\"font-weight: 400;\">Bullet points<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\" aria-checked=\"false\"><span style=\"font-weight: 400;\">Specs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\" aria-checked=\"false\"><span style=\"font-weight: 400;\">Pricing<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\" aria-checked=\"false\"><span style=\"font-weight: 400;\">Keywords<\/span><\/li>\n<\/ul>\n<h3>4. Select the right inventory.<\/h3>\n<p><span style=\"font-weight: 400;\">Your listings can and should vary from marketplace to marketplace. Sometimes, this is due to the agreements you set with each platform. Study those contracts to adequately comply with first-party inventory regulations. You can also automate your <\/span><a href=\"https:\/\/www.rithum.com\/blog\/marketplaces\/how-to-manage-your-e-commerce-inventory\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">inventory management<\/span><\/a><span style=\"font-weight: 400;\"> so you never have to worry about overselling or running into product shortages.\u00a0<\/span><b><\/b><\/p>\n<h3>5. Maximize visibility.<\/h3>\n<p><span style=\"font-weight: 400;\">Did you know your product detail page placements are responsible for up to 50% ad sales? The thing is, each marketplace\u2019s advertising opportunities are different. Take advantage of these differences to tailor your ads to specific audiences, track performance and make changes for the best ROI across marketplaces. A diversified <\/span><a href=\"https:\/\/www.rithum.com\/solutions\/digital-marketing\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">retail media<\/span><\/a><span style=\"font-weight: 400;\"> approach broadens your reach and gives shoppers multiple touchpoints to interact with your brand.\u00a0<\/span><b><\/b><\/p>\n<h3>6. Price strategically.<\/h3>\n<p><span style=\"font-weight: 400;\">Set your prices too high, and you\u2019ll likely be undercut. Set them too low, and you risk missing out on revenue. Find the pricing \u201csweet spot\u201d by:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Understanding and complying with your predetermined pricing agreements<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Identifying pricing fluctuations\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Monitoring the competition\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Experimenting with deals, promotions and discount bundles<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Don\u2019t have time or expertise to monitor prices manually? Try an <\/span><a href=\"https:\/\/www.rithum.com\/solutions\/repricing-solutions\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">automated repricer<\/span><\/a><span style=\"font-weight: 400;\"> to do it for you.\u00a0<\/span><b><\/b><\/p>\n<h3>7. Fulfill fast and affordably.<\/h3>\n<p><span style=\"font-weight: 400;\">Fast, <\/span><a href=\"https:\/\/www.rithum.com\/blog\/marketplaces\/8-steps-to-improve-your-e-commerce-order-fulfillment-process\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">reliable fulfillment<\/span><\/a><span style=\"font-weight: 400;\"> is so important that it\u2019s now <\/span><a href=\"https:\/\/retailwire.com\/discussion\/survey-says-consumers-want-online-orders-shipped-fast-and-free\/?initialSessionID=apay%3D131-2827587-5756630&amp;ld=NSGoogle&amp;ldStackingCodes=NSGoogle\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">directly correlated<\/span><\/a><span style=\"font-weight: 400;\"> to customer satisfaction. To ensure customers receive their deliveries on time, carefully vet your third-party logistics (3PL) providers so you know you can trust them to meet expectations. Managing fulfillment across marketplaces becomes increasingly complex, but many platforms offer their own services, including <\/span><a href=\"https:\/\/www.rithum.com\/blog\/marketplaces\/how-does-fulfillment-by-amazon-work-everything-you-need-to-know\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Fulfillment by Amazon (FBA)<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.rithum.com\/blog\/marketplaces\/deliver-satisfaction-with-walmart-fulfillment-services\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Walmart Fulfillment Services<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These tips aren\u2019t even half of the strategic advice our Rithum experts shared in our recent webinar. <\/span><a href=\"https:\/\/go.rithum.com\/Successful-Multi-Marketplaces-Webinar.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">View the recording<\/span><\/a><span style=\"font-weight: 400;\"> on demand to get an eighth \u201cbonus step,\u201d additional multi-marketplace tips and important stats that demonstrate current marketplace growth.\u00a0 <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>You hear it over and over again: \u201cDiversify your channel mix\u201d and \u201creach shoppers wherever they are.\u201d But sometimes, that\u2019s easier said than done. Joining new marketplaces comes with a number of challenges, from lack of channel-specific expertise to thinning profit margins. Plus, the e-commerce landscape is more competitive than ever. Yet, challenges like these [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3451,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[358],"tags":[376,389,346,348],"coauthors":[],"class_list":["post-3450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketplaces","tag-fulfillment-by-amazon","tag-inventory-management","tag-marketplaces","tag-retail-media"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.6 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Selling on Multiple Marketplaces? 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