It’s a new year, and now that you’ve had the chance to catch your breath from a busy Q4, it’s time to look forward to the year ahead. Expansion was a hot e-commerce topic in 2014, and retailers of all sizes have their sights set on ways to grow their businesses this year. From listing on new marketplaces, to expanding internationally, or even cleaning up your data, expansion comes in many forms. One thing’s for sure, though: When it comes to e-commerce in 2015, retailers want more!
More Marketplaces. When you think of online marketplaces, the names that likely come to mind are Amazon and eBay. But make sure you look at the other options available to you. From niche, product-specific marketplaces to international giants with tens of millions of loyal shoppers each month, there are plenty of other avenues for growth out there. The established infrastructure of each marketplace allows retailers to focus on other priorities, such as sourcing, pricing, promotion and fulfilment. Take a look at our Broadening Your Horizons eBook for details on all the well-known marketplaces that should be on your radar.
More Regions. Cross-border online shopping spend is estimated to increase by 200% over the next four years. If it’s time for your company to take significant steps to grow both your sales and your brand, cross-border trade (CBT) could be your next path. Marketplaces are often a logical starting point for retailers looking to expand internationally, as they offer low barriers to entry and less risk than setting up a domestic website for each country. Additionally, each comes with a ready-made audience, a globally recognised name, and programmes and services – such as global fulfilment — to assist you with your expansion.
More Channels. Building a portfolio of e-commerce channels is an investment that will never cease to pay off. Consider broadening your reach to new channels to improve conversions. If you sell on Google, you could expand to other search engines, and if you operate on one shopping feed, you could try listing your inventory across multiple shopping feeds. You wouldn’t sell on eBay without ever looking at Amazon, would you? Investigating new channels could help you dramatically increase your customer base.
More Visibility. Don’t overlook your current channels when you’re thinking of ways to boost your sales. There’s always a chance to increase your visibility on marketplaces and digital marketing channels. Conduct a quick audit and identify how well you’re doing in terms of visibility and accuracy. Make time to optimise your campaigns so you can attract even more traffic. On marketplaces, for example, why not use your pay-per-click (PPC) keywords in your product listings? PPC keywords are already proven to work on search engines, and because many customers begin browsing in a marketplace search box, these keywords can be a great way to increase your online visibility.
When listing on digital marketing channels such as Google Shopping, standing out from the crowd is the aim of the game. Are your product images up to scratch? Is your pricing accurate? Have you added all the information you need? Including details in your listings (such as free delivery) can be a great way to capture customer attention!
For more tips and tricks to keep your expansion plans on track in 2015, download this free 2015 E-Commerce Calendar.