What is a Channel?
A channel is a place where you display and sell your product. A channel can be a brick-and-mortar business, private agency and online business portal etc.
What is Online Multi-Channel Selling?
Benefits in Multi-Channel Selling –
- Enhance Product Visibility across major marketplaces and e-commerce platforms
- Increase in your Revenue Growth
- Acquire new Customers
Enhance Product Visibility
- Each and every online selling platforms has unique type of visitors, who’re in need of various products with a quality and worthy enough to buy.
- With multiple shopping options, customers have an increased number of engagement and purchase points. Consider, for example, a customer who tries on a sweater in-store but then orders it online in a different color
- By selling in different Marketplaces and E-commerce platforms you shed light over your product for the customers who’re in need of it.
Increase in your Revenue Growth
- Multichannel selling protects merchants against relying on just one sales method. In case of an event, an online merchant account is suspended or an offline store loses momentum, merchants who diversify their channels may incur less of a revenue hit.
- Multichannel Selling is another cost effective strategy to reduce marketing expense and to increase the revenue growth.
- To increase the revenue growth, the visibility of your product should be seen by large number of visitors which definitely costs more.
- As a cost effective strategy, you can add your product to the other marketplaces like Ebay, Amazon, Rakuten, Etsy etc. which already has a large number of visitors.
Acquire New Customers
- Selling through multiple sales channels gives merchants more information about their customers and lets them leverage that information to increase sales. Tracking customer purchases also gives merchants the opportunity introduce targeted marketing and increase brand awareness.
- Some customers prefer to shop online while others like to visit physical stores. Some others may comparison shop on Amazon while browsing a brick-and-mortar store. When merchants strategically place their products in the path of the customers who need them — regardless of how those customers are shopping — sales, exposure and customer reach can increase.
- Focus on the customer whom you’re selling to, learn the ideology to satisfy customer with what they need and what they request, so they get their requirements fulfilled.
- Retaining Customers are the main sales driving customer, so once the customer is retained to purchase a product from you again, as the product has good quality etc. then the level of customers will boom.
- So to retain your customers, focus especially on the sales driving customers and provide offers, discounts to them for much larger purchase, so their need of product purchase from you might get a hike and as well word of mouth will also increase.
- As a sales driving strategy focus on the seasonal offers, festive and perfect occasions.
Kind Suggestion –
If you’re a startup and willing to sell in other Marketplaces and E-commerce platforms, then we are here to help you and guide you with order and inventory management specifics and marketing strategies.