Benefits of Multichannel Selling
The idea of multichannel selling is purely based on growth and profits of eCommerce ventures. The concept is very simple and revolves around the logic that the more platforms you are present in, the more visible you will be and more customers you will win. So, when an eCommerce seller establishes presence in more than 2 platforms of sale, the entity benefits in several ways:
- Gains greater exposure to unique visitors that are particular to the respective platforms
- Wins trust among buyers with their virtual omnipresence
- Experiences a whopping growth in orders flowing in from each individual marketplace / comparison shopping platforms
- Enjoys greater profits without having to wait for it for months
Myths Surrounding Multichannel Selling Busted
There was a time, not very long ago, when sellers were pushed to believe that multichannel efforts are best when taken up by mid- to large-sized sellers who can support extended integrations with each individual platform while having enough funds to invest upfront for the purpose. There was a general belief that smaller, low volume sellers may have to squeeze out their last breath to spread into just two platforms let alone the idea of multichannel efforts. The reality, on the other hand, is very uplifting:
- Considering the fact that multichannel selling is a growth-based idea, it is perfect for smaller sellers who wish to increase their business volume within a set period of time.
- The orders that flow in and the profits that flood in eventually balances the cost of integrations and other support solutions that the sellers may have subscribed to
- For those worried about processing and completing orders across all platforms, it will be good to know that harmonizing order completions across all platforms of sale is getting easier by the day with more and more sophisticated solutions being launched by third party eCommerce support providers.
- There is a long list of successful sellers who have narrated their motivating multichannel selling experiences that literally speak of going from rags to riches.
How Small Startups can Fuel Their Multichannel Efforts
It can be said with confidence that smaller sellers can make a very healthy march towards multichannel selling and striking gold. Keeping the following essential factors in mind can help maintain a safe distance from possible hassles and bottlenecks:
- It is always good to start with two to three well selected platforms rather than jump into 5 platforms at once.
- Never select marketplaces blindly. Before starting to integrate, ask the following questions of the platform in consideration:
- It is compatible with the volume of your business?
- Does it support the nature of your products?
- Does it hosts the type of customers you are targeting?
- What are the marketplace fees and are they favorable to your business?
- When choosing platforms to use, at least one should be a well-known, result-based comparative shopping engine.
- Choose the right shopping cart solution along with the right integration partner. Well-designed shopping carts like 3dcart are usually equipped to handle easy multichannel selling especially when powered with the integration support of developers like ChannelSale. Choosing proper solutions will not just help you streamline and automate your multichannel operations seamlessly but it will also help in reducing your integration costs to less than half of what may otherwise be required.
- Be aware of assistive tools and softwares, especially those associated with fee and profit calculations, FBA calculation, fraud prevention etc., can help save hundreds to thousands of dollars every single month which is nothing short of a blessing for smaller ventures.
This guest blog post was written by Steve Burns, Sr. Marketing Executive at ChannelSale. Since 2007, ChannelSale has been enabling online merchants to reach more customers globally across 200+ online marketplaces, comparison shopping engines and affiliate networks by way of automating sync for product listings, orders, inventory across multiple shopping channels via a single software interface.