In the past couple of years, the world has experienced rapid growth in the number of people engaging in eCommerce and other related internet retail activities. Of course, this is great for globalization and can be attributed to the ease of access to the resulting markets.
You’ve probably embraced this trend and already selling on the online markets available today. For most of us, the first point of consideration when it comes to selling our products is through a personal website. However, the process of attaining consistent and reliable sales income through this platform can be tricky at the beginning largely due to the small customer base and web traffic to the website. At this stage, you probably will be prompted to try other markets, albeit the already established ones such as Amazon, eBay, Rakuten or even selling through the social media platforms.
So, what are the benefits of diversifying your products selling points? This post will explain why you should avoid putting all your eggs in one eCommerce basket.
Diversifying your selling points
Selling on your personal website
As earlier mentioned, personal websites are the most common first options for a majority of online merchants today. These are excellent platforms for developing your brand as well as creating a more personal touch with your customers. Additionally, personal websites provide you with increased freedom especially in setting product prices which ultimately gives you more control over the size of your expected income. Remember that these are some of the privileges you may not necessarily enjoy if you opted to sell through established online markets such as Amazon and eBay. On these platforms, for example, your shop with them is prone to unhealthy competition, not mentioning that it can be suspended or closed at any time. However, these platforms have their upsides as well.
Selling on already established marketplaces
Some of the popular marketplaces today include Amazon, eBay and Rakuten among others. These platforms allow the online shoppers to search for their preferred products, browse their features and compare prices by numerous Internet retailers, all in one place. Marketplaces are an excellent platform for connecting with customers who already recognize your brand. As an online merchant, you will be leveraging on the respective marketplace’s huge traffic and reputation, and this provides a larger market for your product. By ensuring that your product is unique and able to stand out of the competition, marketplaces can be a tremendous place to diversify your selling points options.
Selling through the social media channels
Until recently, social media platforms were known as just places to meet and hang out’ with friends. However, with channels such as Facebook continually introducing new features, social media platforms are gradually becoming selling points of choice for a majority of online retailers today. Besides, these platforms are also valuable in creating your brand name.
Having looked at the various options available for your eCommerce selling exploits, it’s easy to tell that each comes with its unique advantages and disadvantages. In other words, limiting your sales to a single platform means that you will miss out on other crucial functions provided by the others, and this translates to lower sales. For this reason, you will need a diverse portfolio to reduce the risk of a failed business by expanding your customer reach and selling on various marketplaces available.
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