Even though the traffic in the marketplace already exists and the infrastructure for selling has been provided, selling on the marketplace also has its own challenges. Buyers in the marketplace have many options to choose a seller, so we as sellers need to think of a strategy so that we can stand out from the many other competitors. Here are 5 simple tips to increase your sales in the marketplace, let’s have a look!
- Number and Variety of Products
The more products you upload on the marketplace, the higher the chance that the store will appear on the search page for potential buyers. Also make sure your product has many variations such as color, size, and so on so that potential customers can choose freely.
- Competitive Price
Before you upload the product you want to sell on the marketplace, make sure you have done some research on the price of similar products on the market. Don’t set the price too high because buyers will easily find other sellers in the marketplace. However, also make sure you don’t sell prices below the MSRP (Most Suggested Retail Price) for some products that have conditions from suppliers. This aims to maintain price stability in the market. If the product you are selling is a unique product that is not yet popular in the market, you can determine your own selling price that you think is suitable and reasonable.
- Marketing on Social Media
Social media like Instagram and Facebook are attractive platforms for marketing your store in the marketplace. You can upload photos, descriptions, and reviews of your products on social media but still direct buyers to make transactions through the marketplace. This can increase buyer confidence because the marketplace company will act as a mediator or guarantor. In addition, with more and more products sold in the marketplace, your store’s review and rating will also increase in the marketplace application. This will beautify your shop and increase the trust of potential customers in the future.
- Doing Ads
Of the many and even thousands of sellers in the marketplace, how can we bring traffic to your store? Yup, ads is one answer. You can do ads on Shopee with a minimum top up of Shopee’s Ad Balance of IDR 25,000, while the minimum top up on Tokopedia is IDR 50,000. This top up payment can be through a balance from your previous store income or through a payment method according to the options available in the marketplace. You can also check your ad’s insights or statistics to find out whether the ads you’ve done have been running effectively. For example, on the product statistics page on Shopee, you can check the number of times your product has been viewed, the number of clicks, the percentage of clicks, and the number of orders received based on the ads that you have done.
- Shop Promotion
Marketplaces such as Shopee and Tokopedia have promotional features available on their platforms to help sellers increase their sales. For example, at Shopee, you can take advantage of the Store Promo features, Store Vouchers, Discount Packages, Flash Sale, and free shipping. While at Tokopedia, you can use Free Shipping Vouchers, Cashback Vouchers, and Free Shipping on the Advertisements and Promotions page in the Tokopedia application. In this case, you have the freedom as a seller to create suitable promotions to increase transactions in your store. You can also do bundling sales at special prices to attract buyers to shop more.