When you decide to sell online, you will find innumerable choices facing you. If you were opening a physical shop, you will look for a location which people frequent for shopping. Similarly in the online space, you will have to pick a place that is the best fit for your products in terms of pricing, traffic, product category, tools provided and assistance offered.
Here are some ways to evaluate online market places:Ensure that the marketplace is suitable for the type of product you will sell:
In most cases, the product line you want to sell will decide the marketplace you choose. If yours is a niche product, you will find many specialized market places, and your chances of the right people finding your product would be greatly increased which your brand image and product category are important considerations while selecting your online channel. The type of marketplace you select will also reflect positively on your brand value.Volume of traffic is important:
How many people are going to walk in? It is very Important to evaluate the number of shoppers who will see your products and how much competition exists from other sellers. You will get a good idea of a marketplace’s traffic and engagement patterns from online ‘web analytics’ companies. A few things to keep in mind while evaluating traffic:
• Site rankings:
Calculated using a combination of average daily visitors to this site and page views over the past 3 months.
• Unique visits:
This is the total number of visits to the site from an individual IP address.
• Bounce rate:
This is the percentage of visits to the site with a single page view.
Overview of monthly traffic, bounce rate, and daily time spent on each of the top online marketplaces is also available on the internet.Study the fee and pricing structures of top 10 sites:
Various types of pricing exist for selling products on different sites. Understand the fee structure that you’ll be charged for listing and selling your products.• Monthly Fees:
Marketplaces will charge a fixed amount, whether or not you make any sales during the month.• Fee per Sale:
Charge a small fee for each sale that you make. Either a percentage of the sale or a flat fee per sale and some charge both
• Fee per Listing:
Charge a listing fee for each product you post for sale, regardless of whether the product sells or not.
You will find comparative pricing figures of different market places across geographical regions on the internet.How does the marketplace help you sell your products:
Find out what tools are offered by each site to assist you to successfully sell your products on their site. Some sites offer social media integration to your online shop. Some sites also provide shop analytics that can be helpful for sellers to analyze the effectiveness of their operations. You can also expect tips and information from some sites that educate sellers on a variety of online marketing topics which increase your chances of success.
You need to study all the above before you select your online channel. However, if you sell on Amazon, you do not have to worry about any of these as a marketplace like Amazon drives traffic by itself because of its reputation and popularity and provides all the help you need to successfully sell online.
See why selling on Amazon makes the best sense. If you are interested in selling online, you can create your free account on Amazon here.