How to solve drawbacks when selling on marketplaces

35% of online purchases worldwide are made on marketplaces,according to a report by European Marketplaces 2023. Their online presence has increased by 500% since 2007 and it is estimated that, by 2027, sales through marketplaces will account for 60% of total sales in the online channel.

Marketplaces and business diversification

Selling on marketplaces is a very valuable option if you are looking to increase your market niche, as it allows you to expand your range of action and reach a wider audience. Thanks to these platforms you will be able to increase the visibility of your product to the consumer.

However, although marketplaces growth data is very encouraging, sometimes there is no proper management of the product or its information, and this affects sales performance.

The following is a list of the possible drawbacks of selling on marketplaces and how you can correct them.

1. Copy data from the manufacturer

One of the most common mistakes is not offering attractive information or just copying the manufacturer’s data. The resolution of possible doubts when using the product is also a plus that gives added value to the description. In doing so, you will be able to differentiate yourself from the competition and gain the buyer’s trust.

Optimize the content of your product pages by obtaining insights that will tell you which sections deserve an upgrade. Analyze the quality of your titles, descriptions and the relevant content you offer to improve your product pages and help your customers better understand what you are selling.

2. Have non-existent or outdated information

Many times there is misinformation about a product. Some of these cases are related to the lack of information about the status of the shipment, stock ruptures or returns, and this makes the image of the company to be questioned in the face of the consumer.

On another hand, there are also cases in which the information is incorrect. Sometimes we find a product with wrong data or that does not have the correct SKU (stock keeping unit or reference number). Marketplaces use this number to track product information and display price and availability. In the event that the SKU appears duplicated, there may be a conflict and the information may not be displayed correctly, so it may be penalized with the suspension of the sale, partially or totally.

By using a system that allows you to control the stock and assortment of your products, you will improve the user experience. Transparency in these areas helps the customer to trust your brand and supports them in the buying process.

3. Omitting images or having images of low quality

Another disadvantage of selling on marketplaces is related to product images. To achieve greater visibility, it is necessary to highlight pictures. The image usually predominates over the text in the visual impact and the higher the quality, the better you will enhance the appearance of the product. The goal is to stand out from the competition so that the product appears at the top of searches.

In addition, the resolution of the images is essential to review different aspects of the product before making a purchase. In the case of marketplaces, customers want the images to show the quality of the materials and finishing touches, which they would be able to check in traditional sales.

With a system that helps you detect possible image quality errors, you will be able to correct this aspect. Thus, you will offer your consumers clear, well-lit, high-resolution images that will attract their attention and solve possible doubts about the product.

4. Omit feedback

Knowing the opinion of your consumers will help you to know how to improve your service and carry out actions to boost sales. One of the problems lies in not encouraging feedback on a product or service. Consumers are driven by reviews and value positive comments before purchasing a product. A study by Northwestern University states that the “conversion rate of a product can increase up to 270% as it accumulates reviews, among users who choose to view them”.

Creating a system that encourages feedback helps to improve brand image. Monitor your customers’ reviews in real time and receive alerts when they are negative so you can make the best decisions faster. In addition, having a feedback review system also helps to know which products are working and which are not. In this way, sales and communication strategies are improved. Encouraging communication between company and buyer helps to improve brand image and enables future sales.

5. Not knowing your competitors

Just as important as selling your product well is knowing who you are competing against. Another problem is not knowing how your competition moves within the marketplace market. Finding out how they manage their products, how they describe them or at what prices they sell them will give you an advantage over them. It is therefore advisable to have a competitor monitoring system that provides you with this information.

Discover the most interesting inputs and you will be able to better manage your resources to make them stand out from the competition. In this context, it is important to keep in mind that there are several types of sellers on these platforms. The management of the data obtained will allow you to make a faster decision and correct those aspects that need to be corrected.

6. Ignore promotions

Promotions are one of the incentives for consumers to buy. Those products with discounts will unequivocally have more visibility than those without. Not taking this aspect into account or avoiding to carry out a policy of temporary promotions is a mistake when selling on marketplaces. Moreover, it is necessary to be aware of the prices of the market in which we operate and to know what discounts are also being used by the competition.

Encourage discounts and temporary promotions within your business and you will capture the attention of consumers. In addition, if you use a system that monitors market prices, you will make better decisions in this regard and you will be boosting your competitive strategy.

Manage all your resources in an agile way and in real time.

With flipflow, you will avoid these drawbacks from happening when selling on marketplaces. Thanks to this analytics tool, you will be able to monitor your catalogue in real time and avoid errors in content, Buy Box losses, unauthorized sellers or stock breakage that could affect your sales. You will also be able to control what your current inventory is, what prices you have and how to get the most out of the products available. In addition, you will be able to optimize your product pages, and monitor customer reviews to know what they think of your brand and the competition.

In this way, you will control every detail about prices, availability, images or content and you will have a global vision of each of your products.