George Bezos, the founder of Amazon, is now among the richest man in the world. E-commerce sales reached 22 Trillion dollars in 2016 and this year is expected to do better. Amazon accounts for 43% of US retail sales. It does not come as a surprise that online marketplaces are one of the best ways to earn money online.
Setting up an online shop may appear daunting to people with no technical or digital marketing experience. There are thousands that tried having one but failed. It doesn’t matter if the shop is purely online or there to complement an existing BM store, there are elements that an online store must have to succeed.
A Storefront that People Trust
Your online marketplace is a brand. It should have a recognizable name and logo that people will remember. Trust marks such as a BBB logo and SSL certificates assure potential buyers that you’re a reputable company.
Legal information regarding privacy, dispute resolution, and your company should be on the webpage. There should be plenty of information regarding any concerns a buyer might have if they provide their personal and financial information to you.
Providing reliable and accessible contact information to enable your customers to reach customer support goes a long way in developing trust with buyers.
Engage Potential Buyers through Digital Marketing
A marketplace job is to sell. It doesn’t matter if it’s online or offline, buyers like to see a bargain. Deals and coupons are great temptations for first-time buyers.
Marketplaces like Footlocker and Newegg built their niche e-commerce websites on the guarantee that they carry authentic brand name products. Brand name products already have an established fanbase. Develop a marketplace that can attract that fan base and gain their trust.
Nothing develops trust between the storefront, its products, and the market more than quality reviews. This is especially important for brand-specific e-commerce sites. Endorsements from professional reviewers are one of the fastest ways to develop brand recognition and loyalty.
Fake reviews will also have the opposite effect. Users can spot a scam website if it’s filled with fake reviews.
Seamless Technical Attributes
The easiest way to lose an online sale is to have a broken website. The technical performance of the website’s search engine, cart, login, and user dashboard should be seamless and perfect.
Payment system icons and security should be airtight. Online marketplaces are not new and technical programming to secure them is well-established. Work with companies like Eventige that know the latest best practices to help any website.
Mobile Friendly and Social Media Presence
A responsive website that works well with any screen size is very important. The wide array of screen sizes means that the website should adjust to all of them in order to retain customers and keep them happy.
A social media page to work in conjunction with mobile applications and the storefront itself should be present as this is a sign of a modern and fully engaged administrative staff.
A digital storefront can garner millions worth of retail sales worldwide. The potential is endless, but the road is long and hard. It is not a goose that lays golden eggs; it is a store, not an ATM machine. It needs to be nurtured, cultivated and supported daily.