Let’s have an understanding of the difference between eCommerce and online marketplace? How do you, as a consumer, choose between them? Should you choose? Here’s what you need to know about setting up an online store and how to tailor each option to help you grow – regardless of whatever the future holds for sale.
Ecommerce Vs. Online Marketplace
E-commerce is the buying or selling of goods or services on the Internet using electronic means. Over time, this information has expanded to describe the unique buying and selling model through online platforms such as Shopify and WooCommerce. There are further multiple extensions and plugins to advance the functionality, like WooCommerce variable pricing. These integrated foundations make it easy for retailers to create and manage their online stores.
The online marketplace activity takes place on a third-party platform like Amazon, eBay, Walmart, or Etsy. This is another way to participate in the traditional “e-commerce” environment without using your website as a marketing tool. You are still selling your products or services, but you are part of a natural trading organization owned and operated by a private company.
How can you decide what is best for your unique situation? While each type of marketing tool offers benefits, there are notable differences between marketing and marketing tools. But we’re here to tell you 10 reasons why marketers should create online stores.
#1. Owning a site means owning the customer
Moving away from selling as a third-party seller on Amazon or eBay means gaining more control over your brand as it expands to new levels. When you promote this brand on your website, you tell customers that they buy from you rather than an eCommerce platform. This gives you more opportunities to build brand loyalty because you own the brand and the customer.
When you purchase through your website, the customer buys directly from you and knows your website. However, when they buy from your store on Amazon, eBay, or Walmart, you can tag your products, direct customers to your website first, and retain control of the brand behind the purchase.
#2. Customized website
One of the great benefits of shopping online is that shoppers will have the ability to customize the look and feel of their store and stand out from the crowd. It also gives you the flexibility to create content that involves emotion and direction. Consumers can use keyword pages to target customers and show them what’s relevant.
#3. Retarget your customers
One of the most incredible benefits of running your store and website is the right way to interact with your customers. This allows for better customer service and ultimately better sales opportunities.
You can target people to visit your website and ads, sell to those who have already bought from you, and stay connected in the future. Building an email list will help you increase awareness, earn a steady income, and drive ads to finish your search.
#4. Control over your customers’ data
Unlike third-party marketplaces, which often prevent you from contacting customers directly for any reason other than a problem, there are no limits on data collection. You may collect their information via mail or social media. You can use their data for follow-up emails, advertisements, or customer satisfaction surveys.
#5. No on-site competition
Your website only sells your products, and you don’t have to shop on ads that rank high on your website or display your listings above other similar products sold by your competitors. Alternatively, third-party marketers can produce and sell their white-collar products, which they can prioritize on search listings. For those who want to achieve more remarkable progress in the industry, an e-business solution is ideal.
#6. Give omnichannel experience with reduced risk
If your entire business is invested in one unit, you can lose that token at any time. For example, Amazon sometimes hides health news without red flags, and while these stories often come back, the business is losing money and customers by being straightforward. In a multi-channel model, the signals must come from one channel.
Omni-channel translation of your e-commerce business helps spread risk, so if something goes wrong, your business is still protected, and you’re still making money. Also, if your marketers know that your brand name now exists, they can find your website and go directly to you to make a purchase. Owning your store opens up a lot of communication for customers to relate to your business.
#7. Flexibility on offers and discounts
Retailers can advertise offers and discounts on their products on any day. They free you from waiting for market dates. Retailers can also tailor their estimates/sales efforts to meet customer needs.
#8. You’ll enjoy fewer sales restrictions and rules
Although most e-business solutions have restrictions on the sale of regulated products or regulated products, you are free to sell what you want. If a customer is not interested in what you are selling, you can resolve the issue on your terms without fear of being banned or banned by the situation.
#9. Increased marketing opportunities
Advertising campaigns based on your website can increase revenue. For example, if you sell coffee purifiers, you could work with a brand that sells coffee machines to give your customers a 25% discount on their first purchase. This will make your brand, your partners, and your customers value.
This type of promotional marketing opportunity will not work if you work with a foundation like Amazon because you have to rely on the platform’s capacity and its policies. And the buyer’s willingness to buy back in that case.
#10. Gain the freedom to sell where the customers are
Any e-commerce platform will have limits, restrictions, and often complex requirements that take time and money to complete. Your store will give you more tools to sell the way you want.
The website also allows you to shop anywhere. You can shop with pop-up or brick-and-mortar stores like Anker and Bonobos. You can offer customers an option to pick up stores and engage with customers in ways that are not possible or support selling businesses.
Owning your store allows you to explore independent logistics options and maintain quality transportation. In a competitive market, quality transportation and advertising play an essential role in determining the success of any eCommerce customer.
Any business retailer should have their website, even if it’s just a retailer. With the proper planning and future potential for private label products, you can increase sales, improve branding, and reduce the cost of a purchase.
Most importantly, the income from your site will not only come from sales. Your website will increase people’s trust and awareness, increase loyalty and retention, help customers make better choices, and drive more deals across your platforms.