How to be an Online Power Seller on Major Southeast Asian Marketplaces
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The growing popularity of the Southeast Asian online marketplaces has led to a rise in competition between online sellers.
Even as online buyers/consumers are increasing, the increasing competition of rival eCommerce companies has not allowed for much profit.
Marketplaces are putting their focus on comparatively flourishing sellers to improve their services. Southeast Asian marketplaces’ center of attention is the top or power sellers that can sell the highest number of items/products on their platforms.
These sellers are on the receiving end of free promotions by the marketplaces, and hence enjoy more sales than others. Such sellers also face lesser charges and are more likely to be preferred for international shipping.
The top sellers are given free seminars where they are on the receiving end of information about exclusive market tips and trends that can boost their sales.
So how can you become a power seller in the Southeast Asian marketplace? Here are some tips –
Competitor Research and Analysis
An understanding of your rival’s market, their strategy, and functioning are important as you can create new marketing ideas and learn from their faults.
Buying your competitor’s product can be an ideal way to do so. You can know about their product and the steps they take to sell and deliver the item. The product descriptions are a great source to know about their marketing strategies.
Check if your competitor has their website. If they do, order the same product from the website as well as the marketplace to see if they adopt a different selling process for both.
Adopt a Multi-Channel Sales Plan
It is a proven fact that the right multi-channel selling strategy can increase your profit by 30%. It is wise to sell your product on multiple marketplaces online to engage new customers and grow your business.
Each online marketplace caters to different individuals and communities, and as a result, the customer base varies from site to site.
So, placing your product on a single marketplace may not be profitable. As opposed to this, selling your product on different eCommerce platforms can help you develop specific business goals.
Accurate Product Descriptions
The products of every top seller have up-to-date and accurate product descriptions. Online customers depend on product descriptions and images as they cannot check the product physically.
A compromise on the quality of images and product descriptions can decrease the frequency of orders.
Adhere to Marketplace SLAs
Marketplaces have Service Level Agreements (SLAs) with certain conditions that online sellers should fulfill. Most of the SLAs are regarding the timely delivery of received orders.
Processing and shipping all the orders within the same day can ensure the satisfaction of the marketplace. High compliance of SLAs makes you eligible for attractive incentives.
Customize your Online Store
Personalizing your online shop to incorporate your brand values, good images and videos, stories and quality of products can increase customer interaction levels.
Tend to Customer Complaints and Returns
E-commerce platforms favor the buyer and their dissatisfaction can result in a penalty for the seller. The faster you deal with customer queries and resolving their complaints, the further you rise in the top seller list.
The best way to keep your customer happy is to focus on after-sale customer service and constantly check on complaints and returns. Keep your return policies and procedures simple so that customers can easily understand them.
Control your Pricing Strategy
There is a hike in the commission rates of eCommerce platforms on some occasions. These platforms then adopt strategies to increase traffic and sales, which can adversely affect the seller.
In this scenario, it is best to focus on online sales per channel. You can choose online platforms that cater to a niche audience and attract them.
Match your Promotions with Marketplace Trends
The best way to increase sales on any channel is to have discounts, offers, and promotions. It is true that an extensive promotional campaign may reduce your earnings, but you’ll get recognition from the marketplace and buyers. You can optimize the promotions once the order frequency increases.
Marketplaces often strategize about seasonal sales and discounts with relevant themes. Try aligning your promotions with ongoing trends and the respective theme to get more conversions.
Always Update your Store Details
A customer can choose to purchase your product at any time in your online store. It is ideal to update all the details of your products, including stock, promotions, and other information.
Keeping new products on a sale can increase your visibility and reach.
Get the Best Logistics
It is vital to partner with a good logistics company so that your products are delivered at the earliest. Fast delivery can get you appreciation, while a delay may result in a penalty.
Remember to calculate the logistics and shipping charges so that your business doesn’t incur a loss.
Keep the following in mind when you start selling on multiple marketplaces.
- Track your inventory You’ll get orders from different platforms at the same time, so it is necessary to divide your inventory list or stock between various platforms equally. If you are dependent on a supplier, you should get additional stock products in advance or contact several suppliers to receive the products on time. Delay in delivery and canceled orders can give your brand a bad reputation.
- Track your Shipments Many online marketplaces will give you an opportunity to sell your products in other states and countries. If you are interested in this option, you need to coordinate with shipping partners to fulfill orders. It will be beneficial if you are careful about the charges on shipping.
- Manage your orders and enhance sales Selling on multiple online platforms can be exhausting as you have to regularly monitor eCommerce platforms. It involves a lot of manual work, calculation, daily updates, and more. You can deal with this using software that manages eCommerce marketplaces. This software minimizes the possibility of errors and can improve your selling process.
To conclude, a seller would do well to remember that treating customers well, ensuring timely delivery, and selling high-quality products can grant you a loyal customer base and eventually the status of a power seller.
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