Creating a marketplace is one thing and generating revenue from it on consistent basis is another. Every marketplace needs a well-defined marketing strategy to keep generating revenues on consistent basis. If you are nurturing an idea of creating your own multi-vendor marketplace, you should ensure your marketplace has the following list of marketing features to outrank your competitors:
1: Daily Deal:
Daily deals can be a great way of driving traffic and business to your store by offering a special type of promotion which actively expires at a set timeframe – which you specify. With this feature on your marketplace, you can attract new customers while retaining the original ones. It will help you build customer base rapidly and boost conversions.
2: Gift Card:
Statistics show that nearly 93% of American consumers have either given or sent a gift card. And, the total volume of gift cards is projected to surpass $160 billion by 2018. With gift cards getting popular, it would be a mistake to undermine their importance for your business. This is the second most important marketing feature that you cannot ignore if you are seeking to create a thriving marketplace in today’s economy.
3: Gift Wrap:
Today, most shoppers prefer to buy gifts online. Your customers too! And as you might already know, “A gift isn’t worth it without a gift-wrap!” If you don’t provide gift-wrapping option, your customers are going to buy from your competitors. Hence, if you are seeking to grow your marketplace, make sure you have gift-wrap option integrated in it. It will help you boost sales while increasing brand loyalty.
4: One Step Checkout:
Smoother the checkout process, better will be the overall CX. One step checkout is a must have feature on your marketplace. This feature removes all the complexities from the checkout process and allows your customers to checkout with just a click – making it easier for them to purchase goods from your marketplace. Ultimately, one step checkout enhances the overall CX while increasing conversion rates.
5: Related Products:
Up-selling and cross-selling is an evergreen strategy of growing sales by promoting your top-selling products. Ensure that your marketplace has a feature with the help of which you can display relevant products to your customers. This way you can grow your business exponentially.
Final Words…
If you are seeking to create a marketplace with all the above features incorporated – Rocket Bazaar is your way ahead. Built on world’s leading eCommerce platform Magento 2, Rocket Bazaar is a ready-made multi-vendor marketplace for businesses seeking to thrive online. With Rocket Bazaar, you get all the features required to keep your store revenues high in any economy. It’s quick to setup, easy to customize and user-friendly. Moreover, it comes with ready-made mobile app for both vendors and shoppers to make things even easier! By far, Rocket Bazaar is the most flexible enterprise class multi-vendor marketplace solution to realize your eCommerce vision. Give us a shout and let us help you in creating an evergreen marketplace.
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