A successful e-commerce business is leveraging multiple platforms to reach the widest audience and increase sales. You will have a more challenging time managing pricing and inventory as you go through multiple e-Marketplaces. An error could seriously impact your earnings, forecasts, and profits. It's impossible to control everything, but the following suggestions can help you plan your e-store's future and make better decisions.
1. Have a Single Listing
If you have only one SKU, you can manage the SKU across all platforms. However, it becomes very time-consuming if you have thousands to millions of SKUs and multiple e-Marketplaces to list on. You need to have a well-established SKU methodology for listing numerous products across all the e-Marketplaces you are selling. It gets more challenging to deal with multiple vendors who may use different product codes. Create and align your SKUs at the beginning of your product listing.
DSM Suite 2.0+ e-Marketplace allows you to create a central listing, where all the SKUs are entered once, which can be done with a single click, which updates the listing on all e-marketplaces.
2. Have a Relevant Pricing
Periodically, your competitors will adjust their product prices to attract customers, impacting your product sales. There are software programs available that allow you to keep a constant eye on other competitors' prices. Once you've researched a competitor's price range, you can consider what makes your product unique and modify your pricing strategy accordingly.
3. Have an Integrated Orders and Inventory Management
Now that it's set up, it's time to accept orders from your e-store from various e-Marketplaces. With manual processes, you aren't alerted when an order comes in, so you must check the individual e-store continuously. Upon receiving an order, you must reduce the SKU number on every e-Marketplace, deduct it manually from your warehouse stock, and forward it to fulfilment.
With the help of DSM Suite 2.0+ e-Marketplace, you get notified as soon as the order comes. SKU or product units are automatically updated across all e-Marketplaces.
Final Thoughts
Competitors are present on the same e-Marketplaces as you.
Study your competitors' successful products and learn what you need to include in your listings. Pay attention to your search ranking for the most popular keywords related to your products across all the e-Marketplaces you use, and add those keywords to the title or product attributes.
Keep your products listed at all times. You don't want to get into a situation where your stock levels are not updated in real-time. You lose customers to your competitor, and worse, you get penalized by the marketplace platforms.
Don't fall victim to these situations; use our DSM Suite 2.0+ e-Marketplace, where you can manage the publishing and order tracking to various e-Marketplaces such as Shopee, Lazada, and Qoo10. Orders will be tracked, and stock accuracy is improved.
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
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