Tag: marketplace sales

7 ways to boost up your sales using Social Media

Social media platforms are emerging as a new stage for eCommerce and retail companies to market their brands.

Just think about the last time you visited an eCommerce website to buy something, went to the check-out page, stepped back, and left the cart abandoned.

However, we can say either you were in no mood to purchase the product or you stepped back because of expensive shipping charges or got baffled with the super tricky checkout process.

According to Statista, 69.23% is the average cart abandonment rate for online shopping which clearly shows the slipping off of potential leads you have been continuously hustling down the line. However, there could be many reasons for the incomplete conversion of your potential leads.

How social media can help you out?

Social Media is a great tool and the most popular way of promoting your business or brand in between audiences. Today, every individual is present on at least one social media platform. In fact, 86% of the people follow the social media handles of the brands they want to get associated with. Still, these brands are unable to generate great revenues by leveraging the benefits of social media. So, how social media could help you out in achieving your sales targets?

Today’s generation is dependent on technology for the latest updates and offers and also wants great support in favor. This makes social media play a crucial role in promoting these brands either small or large, in fact, social media also serves in promoting well-established industries too.

Well, let’s take a ride through some of the ways in which social media can help you to boost up your sale are as follows:

1. The Hashtag Game:

It’s the best way to stand out from the competition and appear on the top of the list in any hashtag look searched out by your potential customers on social media platforms. Many organisations are working on the same strategy by keeping the hashtag game consistent. If you are planning to launch a new product or coming up with some new scheme, there is no need to hesitate in adding multiple hashtags as it will provide you transparency from other brands.

Here you can see the example:

#sales#marketing#socialmedia#clothing#productmarketing
#digitalmarketing#advertisemnts#entrepreneurship#realestate
#motivation#encourage#seo#hustle#potential#technology
#strategy#brand#like#onlineshopping#instagood#instalike
#startup#eCommerce#love#style#onlinemarketing#success

Make sure to use the closest and related hashtags that represent your business’s core interest as clear as possible. Confusing customers by using irrelevant hashtags could also lead you to the pitfall of your business sales. Utilise the hashtags wherever needed and stick to one medium only.

2. Disseminate deals via Social Media:

Social media works great in broadcasting the latest deals you have come up with. Offering an extraordinary price on your products but just for a limited time. This will attract customers to your website and compel them to go for instant purchase. Reveal the deal to generate some amazing leads on your online eCommerce store but be sure not to reveal the exact time frame of the same.

This strategy will assure you that customers will regularly check their feeds for some latest deals and offers and also could visit your social profile to know some more glimmer deal. Since many customers will visit to your online store so be prepared for heavy traffic on your website.

3. Offer discounts and coupons:

Coupons can help you sell more products as individuals always try to look up for the best deal and discounts on the products. Offering a coupon could attract customers towards your product and will help you convert your traffic into potential leads. You can facilitate your customers by providing them coupon code that is only accessible to the individuals who have liked your page on social media platforms like Facebook or followed you on Instagram or twitter etc.

The above methods are truly functional and will surely attract huge amount of audience through social sites to your brand store. This will lead to an increment in a number of supporters and followers.

4. Provide free shipping:

Free shipping is a blessing for every individual out there. If we believe Statista, 73 percent of respondents stated that free delivery greatly impacts their decision to purchase an item online. Shipping charges are the top reason behind cart abandonment as customers don’t want to pay delivery charges. So try to provide free shipping to your social media followers and grab the maximum leads. Make sure to provide the free shipping on any festival occasions as it is the season of maximum sale and this can help you in generating huge revenues and profits through social media platforms.

5. Exercise Giveaway contests!

This is the most attractive way of luring your customers towards your website as it could efficiently return you a good amount of revenues. Perform a giveaway contest on your social media page that requires individuals to sign up on your brand store. This exciting way would definitely increase the possibility to produce new leads. These contests provide good offers and discounts which incorporate a motivating force in customers to go for instant purchase and take your business to a new horizon!

The individual should be able to choose in between three distinct modes of a similar subject and enter to win the prize. This strategy is not only to generate leads or serve as an acknowledgment of the brand, but it also enables to expand the social stage online. Make sure that each individual who enters the advancement must like the Facebook page to look at the endowments.

6. Post Multiple pictures:

Whenever you post a picture on social media platforms like Facebook or Instagram, it’s obvious to get a reaction. You can urge your followers to like share and comment on your daily posts and feed. Facebook simply actualised another calculation that will re-post a connection each time somebody remarks on it. It’s important to remain consistent towards social media posting. Posting a picture implies more presentation and information about the product. Getting a huge number of “likes” prompts more individuals towards your post, so make sure to post multiple pictures of your products with each advancement you post.

7. Increase your exposure on Social Media Platforms:

It’s important for a seller to mark their presence on a social platform. They should ask their customers to follow and share their social media profile. It’s a meaningful way of connecting to online networking accounts, which can result in a higher conversion of leads. This is the most incredible method to get the word out.

You should also generate your email signature on your blog entries, press releases or pamphlets. It eventually acquires followers which helps you to find out more business deals and resulting in a huge chunk of profits.

Over to You:

The above mentioned points are some of the effective ways in embracing the standards of your brand store online. However, it would also help you in grabbing some good leads on your plate. So, start working from the day itself by luring your customers with various discounts and offers through your social media handle. Regardless of whether you owe a local store or an eCommerce store, creating your profile on social media platforms is very important. It encourages your brand among huge number of audience to generate good sales and revenues.

How KnowBand can help you?

KnowBand is a technical solution provider specifically for eCommerce platforms. The extensions provided by us are loaded with multiple features which helps in the full fledged development of your eCommerce store. KnowBand offers multi vendor Marketplace Extensions which enables you to convert your eCommerce website into a Marketplace like eBay, Etsy, Walmart, Amazon etc. It is available for different CMS platforms like PrestaShop, Magento, Magento2, OpenCart

Key features of Multi vendor  Marketplace are following:

  • Manage sellers
  • Approval configuration
  • Manage the commission from the sellers
  • Customised e-mail templates for notification
  • Product management
  • Compatible with Mobile App of the same Multi-Vendor Marketplace.

Related Articles:

eCommerce Website or Marketplace? Where to sell on?

If you are a newbie in the eCommerce industry, making the choice where to list your products isn’t an easy task. You have to look for all the available possibilities and benefits offered by them before making any move. Online trading basically helps a vendor to reach out among chunk of customers easily and take their business to new heights.E-commerce websites and the marketplaces are the two prime  options  when it comes to online trading. Both of them are followed with their own pros and cons.

Marketplace Vs eCommerce Websites

First of all, lets narrow down how these two exactly differ from each other. Marketplace is a third party website which provides a
platform to many third party retailers to sell their products online. Example: Amazon, eBay, Flipkart, Etsy etc. The vendors can join the marketplace and start selling their products online. On the other hand eCommerce website is an independently owned  store of a seller
where customers can buy products of a particular brand directly from its native website. These websites are self owned by the merchants and can be easily built using various eCommerce platforms like Shopify, PrestaShop, Magento, WooCommerce etc.

Both of these options comes with advantages and disadvantages and this is what makes difficult for a seller to make the right choice. Here are some of the factors which will surely help you to understand the difference between both the platforms in detail and help them in deciding the best choice for their business:

1. Building Brand Image:

There’s no doubt in saying that creating your own website gives you full control on your brand’s image. You can easily present your product according to your own choice without any hassle. But, anyone who is a seller on marketplace would have the limited options therefore, he/she will be unable to affect the brand in any way possible. The presentation factors like layout, font, colour etc are standardised by the marketplace due to which often it happens that the product pages are not appealing and attractive for the users. Marketplaces also forbid sellers for mentioning their company name in any way. That is a loss too.

Creating a great brand image is immensely important when it comes to sell online. No matter on which platform you are using for the same. Having your own website provides you the authority to create a product page on your own choice. It lets you create the experience you want for your customers. You can also encourage your brand personality by reflecting your professionalism in your website design.

2. Traffic and Leads:

Building your brand image is not just enough in an online business. Making good sales is crucially important as well.
If you are an eCommerce store owner, you can implement various strategies and tactics to promote your brand name. Right from optimising your website rank till creating a social networking campaign, you can go for anything which suits you. However, there is a possibility that all these strategies can take a lot of time and efforts with no assurity of successful results.

On the other hand Marketplaces are well-established and highly trusted website than self-owned web-stores. Selling on a Marketplace could be an advantage for this factor as it’s easy for customers to reach out your products. According to statista.com, 197 million users visited Amazon’s websites per month. The huge popularity of Marketplace for online shopping automatically provides you the accessibility to million of customers  without spending any money on marketing.

3. Effortless start:

Seller need not to worry about the features like domain name, hosting name etc. All these features and mechanism are already well established in the Marketplace. Moreover sellers need not to look for the marketing platforms in order to promote their products.

4. Customer Experience:

If your product has been purchased on a Marketplace, the customer experience is totally associated with Marketplace and not with the seller. Although the product belongs to the seller but, still the user-experience belongs to the Marketplace.

If you are an eCommerce site owner then the customer experience with the product directly belongs to your website. Seller has the full authority to control and customise all the factors associated with the product review and enhance the user shopping experience. But, they need to do it on their own.

5. Expand your Reach:

It’s really important to attract visitors towards your product and convert them into potential buyers. Selling through your website provides you the freedom to display products as per your choice but the your product reach is confined to limited customers only. Sellers would be missing out millions of leads across border which clearly results in limited sales.

Whereas, Marketplace helps you to expand your business worldwide with minimal efforts. Seller is able to access millions of customers globally without making any advanced investments. You can even make a good cross border sales and boost up their overall business growth too.

6. Wide payment options:

Wide payment methods offered by the Marketplace offers an hassle free checkout experience to the customers. Payment options often influences the shopping decision of the customers. Availability of Multiple payment methods tempts the sellers to get enrolled in the Marketplace.

Conclusion:

Well, it’s good for a seller to own an eComemrce website but selling through marketplace won’t hurt your sales either. Many online merchants sell on both marketplaces and their own website to expand customer reach and brand recognition. However, the best place to sell online totally depends on the product type and category of your store. So, regardless of the platform you choose to sell on, it’s important to be aware about the latest trend going on in the eCommerce industry and implement it for massive sales and growth of your business.

Now you can easily list down your products on marketplaces like Etsy, eBay, Walmart and others in just a few simple steps. KnowBand offers Marketplace Integrators for various CMS platforms like PrestaShop, OpenCart, Magento and Shopify which allows you to present your products among larger audience and encourage the brand recognition as well.

As today’s generation rely on their handheld devices for any online purpose. It’s really important for a vendor to reach the customer’s devices to ensure higher sales and growth. Knowband offers Advanced Magento Marketplace mobile Extension to build a fully-functional marketplace and a mobile app at same time for your store.

Find out our more articles here:

Why you should start selling on a Marketplace?
Why you should integrate your eCommerce store with a Marketplace?