Although launching an e-Marketplace is reasonably straightforward, turning it into a profitable channel is challenging. Each e-Marketplace has its personality, culture, and brand identity. The demographics and personas will likely differ from one e-Marketplace to another based on customers' preferences or loyalty. Keeping a presence in every market won't be possible, so it's crucial to research which platforms and communities will be the most beneficial for your e-business. Hence, in this blog, we will share 3 best practices related to multiple B2B e-Marketplaces management.
1. Using Automated Systems
It is necessary to automate the selling process if you decide to sell on several e-Marketplaces. Consider investing in software that will automate your B2B listings and pricing. Having a single dashboard is another excellent thing to have, so you do not have to jump from one e-Marketplace to another for listings or pricing management. Ensure you choose software that allows you to upload in bulk so that listings can be added to multiple platforms simultaneously with content automatically updated to meet the unique requirements of each e-Marketplace. Changing the price each day to match market fluctuations or gain an advantage in an e-marketplace.
With our DSM Suite 2.0+ e-Marketplace, you will be able to automate your pricing strategies and stay competitive. It also facilitates your order tracking and inventory management across different e-Marketplaces and is synchronised with your ERP and CRM systems.
2. Keeping Customers Engaged
Become active in your B2B community on the e-Marketplaces where you sell by participating in discussions. You should send quick and meaningful responses to customer inquiries and monitor reviews and feedback regularly to avoid having your e-Marketplace listings ruined by negative comments. You can reduce the number of negative reviews by carefully analysing each e-Marketplace's policies and monitoring your KPIs regularly. The world of e-Marketplaces offers customers endless choices, and one bad review can quickly cause your listing to dismiss.
You should Deliver seamless omnichannel support. Often, B2B customers will have complex questions that they may not be able to discuss within the e-Marketplace, but will need to contact through multiple emails, phone calls, or texts. However, changing between these communication channels can cause confusion or frustration for your customers if your team fails to handle it properly. We recommend using our helpdesk software like DSM Suite 2.0+ Omnichannel Support & Helpdesk, so that your support team is able to move conversations seamlessly between channels, ensuring customer convenience.
3. Handling Inventory Effectively
Implementing a solid inventory management strategy can help avoid stockouts and minimise carryover costs. Stock management can be complex when each e-Marketplace has a different profit margin and customer base. When your inventory grows and the number of e-Marketplaces you use increases, it becomes more complicated and time-consuming to keep track of inventory. You could oversell or undersell or even become unlisted if stock levels are not updated in real-time. The e-Marketplace platforms may penalise you, and your online customers may leave negative reviews.
Avoid getting penalised by the multiple e-Marketplaces by using DSM Suite 2.0+ e-Marketplace to manage your billions of SKUs. Centralised inventory and pricing publications enable orders to be tracked and stock accuracy to be improved on multiple e-Marketplaces.
Final Thoughts
Don't attempt to sell on every e-Marketplace.
Instead, find the top few best-fit e-Marketplaces for your business. Businesses are expanding their sales channels by using e-Marketplaces in response to their popularity. Being able to adapt and be at the forefront of the e-Marketplace is essential to competing in the increasingly crowded field. But, you don't have to attempt to be in every e-Marketplace. Get to know the persona of the e-Marketplace and if it fits your strategy. In addition to being on the right e-Marketplace, you also need to improve your listing's content to appeal to the right shoppers and promote sales across all of your chosen (the most appropriate) e-Marketplaces.
You will enjoy immense growth opportunities if you partner with the right service provider. Get a better start with Zooloo. Our team is happy to assist you with your journey towards digital transformation. Please contact us at sales@zooloo.asia.
- Find some tips on B2B Sales Strategies
- Looking closer at Marketing Strategies
- Read about The Digital Transformation Journey
- Learn more about our “Digital Backbones”
Tags: #CRM #MicrosoftDynamics #digitaltransformation #B2B #digitaladoption #digitalintegration #digitalsolutions #wholesaletradesector #wholesaletrade #e-Marketplaces
