If you have an online store of your own, it is a great way to sell the products you offer. But this isn’t the only way. The first thing that comes to mind in regards to expanding your online business is marketplaces like Amazon and eBay. These two have been very well established throughout the years. People find them trustworthy, and chances are they have a place for your products. Therefore, potential buyers could come across them and hopefully start making purchases. With that in mind, you may be wondering what the exact benefits of taking these steps would be. In this article we are going to pay attention to just that and see what we got.
Amazon and eBay Generate Massive Traffic
One positive thing about Amazon and eBay is that they generate massive amounts of traffic. This means people are highly likely to first look for products on these two platforms rather than Google itself. In other words, if you have your products available on Amazon and eBay, you are automatically increasing the likelihood of more people finding out about your stuff. Moreover, an important reason to consider as to why these two platforms attract that many customers is the established trust.
Amazon and eBay take advantage of reviews i.e. having them on public display. When someone is looking at a product, its rating may play a crucial role in their decision to purchase. In fact, eCommerce statistics show that people have a tendency to trust peers, family, and friends, over the businesses themselves. If you have social proof in the form of reviews, it helps a lot.
This in a way teaches you that you need to look for ways to establish trust through your own website. Operating on Amazon and eBay is among other things, an opportunity for you to get inspired and gather experience. You could later implement them and thus improve your own online store. One of these ideas is acquiring an e-commerce Trustmark that provides an approval of your site.
Retargeting and Product Recommendation
Other benefits would be remarketing and recommended products. To elaborate, the former refers to Amazon and eBay retargeting users who have already searched and opened certain sellers. By doing that, they are bringing them back to the same products. The idea here is that if a person has already looked at a product from some seller, or has even made a purchase, then that person would probably not mind to have another look at the stuff from that same seller and potentially buy (again).
As for the latter, recommended products is about making suggestions for complementary items and things like that. To exemplify, imagine if you as a seller are offering products such as running shoes. The buyers could then be advised to buy running shorts or water bottles. These are items that could come in handy when you go for a run. The cool thing here is that the customers may otherwise have not thought of buying the complementary items. At least if they had not been advised by the store.
Amazon and eBay Make It Very Easy to Sell Your Products
When it comes to eBay, one of the coolest things about it is the actual ease of use. It takes little for you to get started selling you products on there. This doesn’t require much of a budget either. You may get off the ground just by listing a product and getting to sell it pretty much right away. With Amazon, it’s a tad bit more complicated. Even if you have a single product, you’d need to have more of it. This is especially so if you’re looking to list your stuff in multiple listings.
This would require that you pay a subscription to Amazon’s Pro account which costs about $32 monthly. Doing it may be well worth your money of course. Having your products on not just your own site but Amazon and eBay as well is recommended. The platforms provide you with the chance to get more exposure and therefore maximize your potential as a seller.
It Takes Less Time to Get Started
Adding to the list of benefits, the positive thing about selling on Amazon and eBay is the time efficiency. These two platforms don’t require that much of maintenance on your part. This will definitely free up your time while still keeping your business working on a few fronts. Amazon even makes use of the so-called Fulfillment by Amazon. It is a service that keeps track of your storage, orders and shipping. Regarding eBay, this platform allows you to start selling right of the bat. This leads to you being able to see results extremely fast, and this of course is enormously beneficial.
Marketplace Tools That Help You A Lot
Bringing it back to Amazon’s PRO seller account, what’s worth mentioning is the provided opportunity to list your own products. In fact, what this allows you to do is selling stuff that carries your brand by making your own listings. This in turn leads to the uniqueness of your products to shine through on a platform that generates extreme traffic.
Statistics Don’t Lie
And speaking of extreme traffic, this would be a good opportunity to include some statistics. Matter of fact, Amazon is said to bring about 184 million visitors each month. eBay isn’t too shabby with 164 million of their own. On that note, Amazon has reported the following statistic. Sellers tend to see basically 50% of an increase in their sales after launching their products on there. This goes back to the benefit of making your products available to potentially a much larger number of people. People who may have not otherwise came across your stuff. And remember, if they buy once, they might start buying repeatedly so you’re making yourself available to potential loyal customers.
Benefit From the Overall Shopping Experience
Another great thing about Amazon and eBay is that they are a home to all sorts of products and items. On there, you can buy anything from electronics to clothing. What’s good about this is that people have the tendency to buy in places which offer a multitude of products. So instead of going from one store to another, they could just use a single platform. From there, they could search for whatever they may need at the time. What this means for your Ecommerce Business is the following. By joining Amazon and eBay – you’re making your products a part of a bigger market. Buyers who at one time may be looking for other things, they may at another need what you offer. And your products will be there to rise to the occasion.
Amazon and eBay Also Make It Very Easy to Buy Products
Considering the shopping experience of customers, it’s important to understand what they’re looking for in general, and the aforementioned idea of them wanting to shop for everything at one place – goes hand in hand with their desire to have as easy of a task as possible. So for example, when promoting a product of yours in an Instagram post or Twitter, if you’re providing a shopping link for that product, what’s most advisable is that the link leads straight to the final purchase form instead of making the potential customer to go through several steps in order to get there.
Well, the cool thing about Amazon is that they’re excellent at making the customers feel as if the shopping experience is a single fluid thing that requires basically putting in just minimal effort on their part. So, what happens in the same way is the addition of outside sellers like you which can get involved in the machinery that is Amazon, and they can do this in a very smooth manner just by using some simple utilities.
Ways That Amazon Encourages People to Make Purchases
To elaborate, the simple utilities that Amazon offers to outside sellers in order to make them fit in with excellence are: Amazon Prime membership – this encourages people to buy by having your products be up for a 2-day shipping that doesn’t cost anything. It also makes you more “verified” in a way, because there will be a positive expectancy for quick and secure order realization. Next, we got the Fulfillment by Amazon, which as mentioned earlier, is the option to have Amazon take care of the shipping of your stuff. All you need to do is send them plenty of it. As for eBay, have in mind that selling products with a static price is usually what people buy the most, even though the platform offers the auction option i.e. customers placing bids and the person with the highest one getting the item.
The Importance of Making Customers Happy – Easy Shopping Methods
These easy shopping methods that Amazon and eBay provide, ultimately lead to the customers feeling very happy about their purchasing experience which in turns leads to them buying again and again. Therefore, having your products on these two platforms could be very beneficial in both the short and long term. But, let’s not forget the classic impulse buying situations that often happen to people. We don’t always browse with the goal of making a purchase, and we’re all familiar with the window shopping moments of our day-to-day lives.
Amazon and eBay definitely lure people into doing this. You don’t even have to leave the house, but you know, you may be feeling a bit bored or something and these two marketplaces allow you to browse through items and see what’s out there. But one thing leads to another, and a person could run into something that they didn’t even know they liked or needed, and from there start feeling the urge to actually make a purchase. That’s why having your products on Amazon and eBay is great, because some people may randomly come across your stuff and if the buying temperature is right, they may buy from you whereas they wouldn’t have even found your products if they had to specifically search for them on the web.
Make Use of Special Offers
Another thing that accompanies the buying-selling dynamic is special offers and coupons. These opportunities could further encourage people to buy stuff and what’s awesome about Amazon and eBay is that they make it easy for both parties to offer and receive these types of bargains. Of course, this could lead to increased sales on your part. Also, an important thing that we shouldn’t forget is information. What this refers to is the data that these marketplaces provide the sellers with.
Data on how the people have searched and came across your stuff, as well as reviews that provide feedback, could in combination help you to better promote the products that you sell. It’s a lot of basics too. For example, the simple name of your items can lead to increased sales in the sense that the data about how people search could alter the terms you use and therefore have your products come up more.
Decreased Extra Costs?
Adding to the list of benefits is the extra costs which you may want to consider. What this alludes to is all the fees that go into managing your own store. Ranging from payments for the domain to transaction costs, things pile up a bit and if you compare the totals to the money that Amazon and eBay would take as a partner of sorts – it kind of evens up, and in fact, a lot of times the costs of managing your own online store could even exceed the commission demanded by marketplaces. Having this in mind should put an ease to the worries about the extra costs and things like that. And not only that, but the money spent on promotion lead to more potential viewers on Amazon and eBay which is again due to the enormity of the platforms.
Making Use of Promotions & Conversion Rate
Speaking of promotions, it’s quite an easier task to participate in a larger campaign, one that may be run by Amazon or eBay, than conducting an individual one of your own. It’s cheaper and it takes less effort, plus if your brand gets even a bit noticed – this is still a lot considering the amounts of average visitors and viewers that these platforms get. We mentioned statistics earlier, and if we do a simple math, even if a small percent of the approximate 900 million views that Amazon receives monthly, end up to your brand and products, it’s still a great number. And more visitors could mean a better conversion rate i.e. more sales done on your part.
A Tool To Update Your Products All At Once
If you are selling your products on Amazon, eBay, as well as your own online store you will need to update them on a few places, so what would come in handy is having a tool that allows you to do that on one place and have it work on the rest as well. This is where SyncSpider does its work because it lets you to connect your ERP and personal e-commerce shop to both Amazon and eBay. From there, you can import an update of your products from one place to all the places where you’re selling which is helpful because you won’t have to worry about your stock.