Why Your Business Should Be Selling in Online Marketplaces 

Today, businesses should all consider selling online through marketplaces. For many eCommerce businesses, selling in online marketplaces has been another successful and necessary method to generate revenue. Whether you’re selling through Etsy or Amazon, selling in an online marketplace allows you to build brand awareness, gain momentum and trust amongst your customers, and increase sales and leads.

What are Marketplaces?

Marketplaces are online spaces, or websites, where multiple retailers come together to sell their products. You are likely to have heard of common marketplaces, like Amazon, eBay, and Etsy.  These websites allow each company to sell under its page or profile. People can search for a specific product or item they are looking for and find it online through a marketplace. Then, the item is shipped directly to the customer.

Why are Marketplaces advantageous? 

There are many reasons why companies should be selling in online marketplaces. Below are just a few of the many advantages of selling in an online marketplace:

Increased Sales

Selling directly through an eCommerce website can be quite successful too. However, you are limited to the number of people who will buy for you. This is because the customers would need to stumble upon your website through google or search engine traffic or organic traffic. When you sell in an online marketplace, you open yourself up to so many more customers. Many customers prefer to buy through trusted marketplaces as opposed to individual eCommerce websites, as they feel it is more secure and safe. 

Another advantage of online marketplaces is that they have very low startup costs. Any business can sign up for a profile on a marketplace. While there are commission or selling fees or monthly costs associated with some marketplaces (depending on which you’re selling through), the increased sales make this worth it overall.

Marketing Opportunities

Another reason your business should be selling in online marketplaces is that it allows more consumers to stumble upon your products. Perhaps they are searching for a specific product which is similar to yours. This opens up possibilities for them to stumble upon your products and choose them over competitors. On many marketplaces, alternative products come up as “recommended” or “you may like” sections. 

Brand Awareness

By selling in an online marketplace, millions of people will view your products as opposed to selling on a specific eCommerce website. Customers can browse all of your products through your profile page. As a result, you can build strong brand associations and awareness. In addition, many marketplaces allow for customers to leave positive reviews, which means you can gain some trust among your customers. This, in turn, can help to gain more traffic and help increase sales.

All businesses need to consider selling in online marketplaces to stay competitive when selling online. Businesses that do not sell through online marketplaces are at a disadvantage without the same traffic that comes through larger marketplaces, like eBay and Amazon.