6 Ways to Increase Your Online Marketplace Sales

Increase Your Online Marketplace Sales Using "Sales Conversion Optimization" Technique

Anyone who has an online store (regardless whether is it a website or online marketplaces' store) wants to reach out to as much interested audience as possible in order to increase sales as much as possible.

But the truth is, you will never know what strategy or angle is going to work best for you until you test it. Instead of making major changes to your company's marketing strategies; making minor changes and test it out on your website or online marketplaces might be a better choice. Testing is the only way to discover what works and what doesn't on your website or online marketplaces and start increasing your sales exponentially.

Today, we are going to talk about sales conversion optimization which aims to increase the conversion rate from website or online marketplace stores' visitors into buying customers. Sales conversion optimization is very crucial at any stage of the business.

Take the plunge and use just one of the following tests, and start seeing a dramatic improvement in your online sales performance:

Headline text is one of the essential factors in increasing your online marketplace sales, as you need to stand out from the crowd especially in a competitive category of product. The reason why headline text is so important is that headline is normally the first thing that your visitors/audiences will read before clicking on your listing. And in order to lure them to click on your listing, your headline text must be able to capture their attention enough.

First, make your offer clear in the headline. Who is the target customer for your product? What are you offering? Discount? Free gift? Free delivery? The more explicit a headline was about what the content offered, the more people preferred it.

In one case study supported by CombineSell, a famous online marketplace store was able to increase their conversions by 45-percent just by specifying what they do and who they do it for. 

The image above shows the headline they tested that brought in the highest conversions. It states the benefits (free delivery, free gift, reduced price, etc.) and a clear headline of what the product is. By rewriting their headline with a clear offer, they're now getting more leads.

Review the headlines on the products of your website or online marketplaces. Do they specify what you are offering, and what they can hope to achieve with you? If not, modify your headlines and watch for any changes in your conversion rates.

If employed correctly and strategically, pop-ups can help increase your online marketplace sales conversions.

In order to ensure that our pop-ups will perform well, we need to offer something relevant and useful to the visitors/audiences visiting our store. Something relevant and useful such as free gift or coupon that your visitors/audiences are glad to use, then the pop-up will be seen as a gift rather than a distraction.

If you are after more leads to your store, you can take one of the case studies - SolMerge powered by CombineSell below as a reference. They encourage users to provide their email address in exchange for a 15-percent discount. This only help the company to build up an email list, but also more leads to the store.

Like most new businesses, if you are currently using product photos that you generated on your online marketplace stores or website, this is a great news for you! The research found out that, real photos of products have a positive effect on conversions. In other words, you should show your products being used by others, instead of showing your products on a white background.

SolMerge supported by CombineSell is a very good example of using both typical product photo with products in-use photos. Their product pages have large photos of the entire product being used as well as shown in close-ups of small details and different angles.

As mentioned in the previous point regarding the importance of the text for your online marketplace listings, regardless whether is it your headline, product descriptions, highlights, etc, if the persuasive text isn't readable, it's not going to convince your visitors/audiences that have already clicked into your listings to buy from you. You should:

Make sure that the size of any text is more than 10pt. Increasing the size of your text and improving the spacing between the characters and lines led to better business results.

You can use tools like the Readability Test Tool to check your online marketplace listings' readability.

You need to prove that your business has many histories of satisfied customers in order to encourage more sales for your online marketplace store. Proof such as Awards, customer's reviews, seller's ratings, etc.

The research found out that, conversion rates grow directly proportioned to the number of reviews a product has. Having more than fifty product reviews can increase conversion rates by 5-percent.

What are you still waiting for? Go and collect more testimonials and reviews for your products.

 

Interestingly, an ever-increasing number of retailers are going the multi-channel route when selling on the web. You might need to think about accomplishing something comparative in your store. In the event that it bodes well for your business, grow your online presence by setting up shop on other online marketplaces like Qoo10, Lazada, ezbuy, Shopee, Amazon, eBay, etc. Doing as such will possibly help to increase your store's visibility and sales, by enabling you to take advantage of the audiences that are already in those marketplaces.

But of course, not every online marketplace are made an equivalent. These online marketplaces charge merchant fees and some are more suited for particular sorts of items or end consumers. Read more on previous post.

 Managing all the selling activities like listing, inventory, order, enquiry, sales performance, etc. can be a bit tricky when you’re selling on several marketplaces so you may want to use a multi-channel e-commerce management solution like CombineSell, which syncs data across several channels, making it easier for you to stay on top of everything from one place. And most importantly, expanding your online business to other online marketplaces would be as easy as with just a single click, all your listings, inventory, etc. will be exported to the selected online marketplaces in just a matter of seconds. Give it a try! You will be surprised.

As mentioned above, you will never know what strategy or angle is going to work best for you until you test it. Instead of making major changes to your company's marketing strategies; making minor changes and test it out on your website or online marketplaces might be a better choice.