How to Maximize Online Sales on Marketplace in 2021
28 January 2021
In the times where shopping from home becomes priority, e-commerce inevitably has become prima donna in supporting businesses. Small to large enterprises have shifted their focus to establish online sales channel. However, we found that they still meet challenges in operating online store. It seems simple yet challenging. Even after doubled their efforts, it is still quite hard to achieve expected results.
One of our Digital Marketing Leads in Jet Commerce revealed 5 key points in maximizing online sales on e-commerce platform that favoured by customers nowadays, marketplace.
First: Identify hero, rising & potential SKU
SKU (Stock Keeping Unit) can be more than just code to help you locate and track product at the warehouse. SKUs are valuable components throughout product chain, inventory tracking and sales.
How can this code help your sales? Through analysing sales level and trends of SKUs we can identify which SKUs we need to invest. As Pareto principle states that 20% of SKU will be responsible for 80% revenues generated. The idea is to focus on these three types of SKU to drive maximum sales & revenue.
Second: Increase SKU & Store visibility
We found that 70-90% of store traffic are guided through a search feature on e-commerce platform. Since most customers depend on the ability to find product via search bar, we need to optimize it by increasing SKU’s visibility. There are several factors taken by an algorithm into ranking SKU on search:
- Product title and keywords
- Product score derived from SKU images, description, product videos, rich content
- Existing star rating and number of reviews in relation with total orders
- Picing competitiveness, any discounts/promotion/vouchers ongoing
Third: Plan your frequent campaigns.
Campaign is a planned sales strategy that runs over a limited time frame. Time limit on campaign is appealing customers with an incentive to buy. For that reason, campaigns are effective to drive sales in a short time. Typically, on an e-commerce setting, we would categorize campaigns as follows:
Fourth: Grow store followers & audience
Growing a store follower might look least important compared to sales, but also important thing to be applied on. More store followers is more audience for store activity and promotions, which ultimately grow sales & conversion potential.
Ways to increase store followers:
- Voucher incentive
- Gift incentive
- Promotion based
- Join campaigns
Read more on how to grow online store followers on marketplace, here.
Fifth: Communicate your promotion.
Your store followers have grown into large audience and you have planned a campaign with enticing promotion. All of these will go to waste, if you can’t communicate your promotion well to potential customers. Here are a few things you can do to utilize on-site tools to communicate your agenda:
● Putting essential promo information on first slide SKU images and 2nd tier promotion info on 2nd and 3rd slide.
● Put strong attention to your store decoration, make sure main promotions are highlighted within first screen of landing. Put scrolling trigger.
● Utilize customer service live chat to inform your store fans about ongoing promotions.
● Periodically update your store feeds.
● Request for exposure from platform whenever a good deal is going on, they’d be very happy to help you!
Since last year, e-commerce industry has accelerated its growth and it shows no sign of slowing down. If you’re late in a game of online market, now it’s time to step up your game. These key points provide what you need in boosting your online sales where each point will affect your customer journey in the sales funnel.
If you’re still looking for a suitable way for your brand in e-commerce, let Jet Commerce help you pave a way into the e-commerce market.
About Jet Commerce
Jet Commerce started its role as the provider of e-commerce solutions in the Indonesia B2B sector in 2017. The company then began engaging deeper into the e-commerce industry and create a new holding as one of Southeast Asia’s leading e-commerce integrated service providers. Jet Commerce helps brands develop their e-commerce businesses through end-to-end solutions focusing on consumer experience.