Online marketplaces have steadily grown these past few years. Marketplaces like Amazon, eBay, Etsy, Overstock, and Newegg have helped buyers shop for apparel, accessories, or electronics without having to get off their couches. In a recent study conducted by IR Research on the top 42 marketplaces, it has revealed that $473B worth of items were sold on US marketplaces. It’s buying and selling in its most comfortable state.
Marketers and sellers are always searching for new solutions to stand out in an oversaturated marketplace. One solution when sending email campaigns as a marketer is to avoid mass email campaigns.
While the issue cited above is only one of the many problems they face, there are other more pressing issues marketers need to address. Econsultancy held an event in Shanghai and gathered these 3 main issues marketers face:
- Marketers need to advertise to reach their audience
- Advertisements are pretty expensive
- Marketers can’t personalize their messages because of a lack of data from marketplaces
Are there tangible, working solutions for marketers seeking to improve their visibility and increase their profits on marketplaces?
- Starting own ecommerce platform – While it has its own ups and downs, opening your own ecommerce is an option for some sellers. As stated in the Econsultancy study, ecommerce platform is expensive and difficult to drive traffic. However, hiring a one-stop shop digital marketing agency can help you create your own platform and optimize it to increase traffic and boost your sales.
- Marketing and sales teams working together – Connecting or integrating marketing and sales team can help increase a sellers visibility, activity, and profits. With marketing and sales data readily available for both teams it will be easier for marketers to tailor their campaigns to their customers.
- Push to get more data from marketplaces – To help increase their customer base and personalize their campaigns, marketers should encourage marketplaces to share customer data. In this way, sellers and marketers can analyze customer data and generate more useful timely campaigns.
- Shifting towards extreme personalization – With extreme personalization, marketers will be able to study customers’ tendencies. Since customers expect more personal engagement, incorporating extreme personalization, as stated by Brian Solis in a Forbes article, “requires engagement for context, content and behavioral data.” With the combination of AI-technology and human interaction, this is a great advantage for marketers and sellers because they will have the ability to send highly personalized emails to individual customers.