What Is Multichannel Ecommerce Management?

When establishing your eCommerce platform, you can start with a single marketplace before scaling your business. While a single online store can provide attractive revenue, you can boost your sales by selling your products on multiple channels like Sellbery. Each eCommerce marketplace will reach a different segment of customers that do not interact with other channels. Exposing your brand increases your outreach and improves your revenue. Statistics show that merchants who sell their products on two marketplaces get a 120% increase in revenue. However, before you go all in, there are a few things you need to learn about multi-channel eCommerce management. If you want to know more about how powerful social commerce is, check out the following statistics and facts.

Why Should You Choose Multi-channel Ecommerce?

Boosts Organic Traffic

When you have a dedicated eCommerce store, posting your products on various marketplaces can drive traffic to your online store. For instance, customers who purchase your products from eBay or Amazon will recognise your brand and prefer buying directly from your store. Social media channels can also redirect traffic to your eCommerce store if you provide high-quality products that generate excellent customer reviews.

Brand Exposure

Even with rigorous marketing campaigns, it will take time to popularise your brand. However, you can build your brand by marketing your products on various channels and providing top-notch customer service. When a customer recognises your brand name, they will feel comfortable purchasing your products.

Increases Revenue

Ecommerce merchants who sell on one marketplace boost their revenue by 38% compared to those who sell from their website. The more you expand your business through multiple channels, the more customers you will find. Increasing your outreach puts you in the crosshairs of customers who use your products, boosting your sales.

Provides a Competitive Edge

Having a competitive edge is essential for survival, and selling on multiple channels can ensure you do not miss any opportunities. For instance, if your competition does not sell their products on some marketplaces, you can take advantage of the market gap to boost sales.

Increases Customer Outreach

When you sell from your site, you only reach customers who regularly visit your site. However, joining other eCommerce marketplaces like Amazon, eBay and Walmart increases your products' exposure to the vast customer base that visits the market places. Investing in social media channels can also boost your sales since you will reach a broader audience.

Challenges When Implementing Multichannel Selling

While using multiple eCommerce channels provides numerous benefits, it can spell trouble if you do not consider your options carefully. For instance, expanding to various marketplaces is a brilliant idea, but choosing the wrong marketplace can reduce your revenue and affect your brand image. Here are challenges to expect when managing multiple eCommerce channels.

Inventory Management

When you have multiple selling channels, managing inventory on all the platforms can be tricky. You have to stock up inventory and monitor incoming and outgoing products in all the channels to avoid shortages. If you do not have a system for managing the inventory, you may waste time if you do it manually. As a result, investing in e-commerce inventory management software is a wise decision. Furthermore, manually managing inventory data is prone to errors.

Time Management

Selling on multiple channels triples your work since you have to manage orders on each channel, take care of product listing, inventory and finances. Managing all the tasks can be time-consuming and reduces your focus on other essential business functions.

Popular Ecommerce Channels

Ecommerce marketplace and sales channels expose your products to a broad audience, provided you choose a platform that resonates with your business theme. Here are some eCommerce channels to use in your eCommerce strategy.

Online Marketplaces

If you want your revenue to grow faster, you should leverage an eCommerce marketplace with an established customer base. For instance, Etsy, Shopify, eBay and Amazon expose your products to millions of customers who shop regularly.

Ecommerce Website

Apart from listing your products on online marketplaces, you should have a dedicated eCommerce site for your brand. That way, you can customise the shopping experience for your customers. Building your brand will also boost your credibility and increase conversion rates.

Social Media Channels

Social media is an influential selling platform with millions of users around the globe. You can sell directly on social media or tag your products to increase traffic to your eCommerce website. Posting high-quality photos on Instagram or Pinterest can build hype around your products and boost brand recognition.

How to Manage Multi-channel Ecommerce

Pick the Right Channels

While selecting multiple channels will scale your business faster, you need to ensure the channels are profitable and provide the best customer service across all platforms. If you have sufficient employees to handle the influx of orders, you can launch across various platforms. However, you must ensure the marketplace attracts an audience that would be interested in your products. You can avoid investing in unproductive channels by tracking the performance of the channels. Checking analytics will help you track the performance of your products in each channel.

Understand How Each Ecommerce Channel Works

Every marketplace runs its operations differently, and you need to familiarise yourself with the channel. Having a deep understanding of the platform you are using helps you determine the best sales strategy to boost revenue.

Avoid Overselling

While listing your products on multiple channels grows your business, do not take on more than you can handle. For instance, if you cannot provide impeccable customer service in all the channels, reduce your eCommerce channels. Unhappy customers can ruin your business and lead to low conversion rates.

Conclusion

Ecommerce management provides an opportunity to scale your business and increase revenue streams. However, you should take time to master how to manage multiple channels and ensure optimal productivity levels.