Multichannel selling is the practice of selling products across multiple channels.
It’s all about moving beyond your website and exploring channels such as marketplaces, social media, and comparison shopping engines.
Taking on this approach and doing it right will allow you to significantly grow your business and increase earnings. It makes sense, more selling channels mean more potential customers, which in turn leads to more sales. It is, of course, a serious undertaking, with many aspects to consider, but it offers plenty of benefits to merchants, benefits that make investing in this strategy worthwhile.
You need to be where your potential customers are, it’s that simple. When your business has a presence on multiple channels you have more chances to be found and make more sales. People like shopping on marketplaces and comparison-shopping engines. They like to browse, compare, read reviews. Selling on social media is a relatively new trend, but it’s increasing in popularity.
Becoming part of an established online marketplace or a similar platform provides a level of trust between you and the customer. Well-known marketplaces and social networks have created platforms that make the purchases 100% safe for the customers. They trust these platforms, and you, as a merchant, don’t have to work hard on winning customers’ trust – you just have to work on keeping it by remaining trustworthy and providing an excellent service.
Well-known platforms allow you to easily reach new customers, due to their big-scale online presence. Shoppers may not know about your store, but using a multichannel approach you have an opportunity to show off your products to tens and hundreds of millions of potential customers.
That will lead to more sales. According to Stitch report, on average, merchants who also have a single marketplace make 38% more revenue than those with no marketplaces. Those who have two marketplaces make 120% more revenue.
Things to consider before implementing the multichannel approach:
While there are many options — global and niche marketplaces, popular social networks, CSEs, you need to think what makes sense for your product range.
Decide whether you want to only deliver locally, in certain countries, or globally. Explore various shipping methods; it’s habitual on marketplaces to offer fast delivery that’s more expensive, and an economy shipping method.
Listing and selling fees
Research platforms which you want to use for your business, and pay attention to various fees and commission policies. If you want to sell on comparison-shopping engines — these platforms usually have pay-per-click modes, so take a look at prices for clicks they have.
Trimpo provides businesses with one point of contact for selling on multiple e-commerce platforms.
Sell your products on the world’s biggest marketplaces, create product feeds for comparison-shopping engines, manage your sales and product data in a single account. Trimpo will help you save time and money, providing you with a simple and effective solution for multi-channel selling.
We have detailed documentation on creating marketplaces accounts and selling on them, in our blog you can find helpful information about selling on various channels.
Register on Trimpo now and see for yourself how easy it is to start implementing a multichannel approach.