Ecommerce has opened up many sales opportunities for SMBs. So much so that a survey shares how 92% of online SMBs saw impressive sales growth in 2021.
With so much growth potential, it only makes sense that more SMBs would want to venture into multichannel commerce and sell on popular marketplaces too. But, what most brands forget is that selling on Amazon, for example, comes with fierce competition. It's for specific niches, and it is not a feasible option for all retailers.
But fortunately, there's other options such as Etsy and eBay.
Etsy is exclusively for independent crafters, artists, and collectors who sell vintage, handmade, or custom-made items such as jewelry, clothing, home décor, art, toys, etc. Since Etsy marketplace launched in 2005, the platform has seen impressive growth (nearly half a million users and $26 million in sales) in just two years.
This platform is ideal for businesses that sell items with a personalized touch, as that’s what customers on the site look for. It is also ideal for sellers who prefer to be in complete control of managing their store listing, orders, and inventory.
Fun facts about Esty:
Most search tools are designed to help a customer find the product they’re searching for. Your job is to help search tools realize that it’s your product.
Esty search tools focus on query match and ranking.
Query matching is based on how well a user's search term matches Esty’s inventory listing. The search tool will sift through tags, titles, attributes, and categories to find the ideal item and match it. Then, it will look at the listing's ranking. Ranking helps Esty decide whether your product is suitable for the match. Here is how you can optimize your product listing on Etsy:
Using relevant keywords for tags, titles, categories, and attributes can help you match a user’s search term and help your product rank higher. It is important that you make use of search tools like eRank to help with keyword research.
Etsy looks at how often a user purchases your product after viewing it.
Make sure you have accurate and rich product data, and high-quality images to help give customers the information they need to complete a purchase.
According to a survey done by Etsy, 90% of Etsy buyers ranked image quality as “extremely” or “very” important in their purchasing decision.
When you have a new listing, Etsy will temporarily boost it to help you appear in front of potential customers. If you’re starting out on Etsy, use this to your advantage, and use our tips to keep your listing visible for longer. You can also renew existing listings according to their performance. Look at your product analytics and see which listings could be improved with new tags and titles.
A study shows that 73% of shoppers say that customer experience is a factor in their buying decision, and Etsy recognizes this, which is why it’s a ranking factor.
Etsy takes customer reviews, your about section, and any negative feedback into consideration when ranking your product listing/s.
Make sure you provide a good customer experience by;
These tips can lead to great reviews and have a positive effect on search ranking
Who doesn’t like free shipping? No one.
Shipping price plays a huge role in a customer's purchasing decision. And unsatisfactory shipping options are the general cause of 77% of carts being abandoned. This is a ranking factor, and stores that have free shipping or offer a free-shipping guarantee to shoppers in the U.S. So, consider giving free shipping for first-time buyers or after a customer spends a certain amount of money.
In certain countries (Europe, Australia, and Canada), a seller's location can be used as a ranking factor so local items will have a higher chance to show up in search results. Make sure you always add your location, but if you aren’t in the area, you can work around this by using phrases that make sense to a specific location.
For example, if you want to reach Australian customers, use regional phrases like “thong sandals” instead of “flip flops” to attract Australian customers.
Etsy uses context-specific ranking (CSR) technology, which studies a buyer's habits and interests. This curates their ideal experience, and serves them items they’re more likely to purchase. So, avoid making all your keywords broach like “ring” and rather say “natural diamond ring” as a customer might have a habit of searching for jewelry that has diamonds, and this will increase your product's visibility.
eBay was founded in 1995 and has since created a global name for itself as an online auction and trading company. The online auction marketplace is ideal for individual sellers and small businesses, and there is room for everyone.
According to this article, the core difference between eBay and other online marketplaces is that “it simply facilitates the sale of goods between third-party buyers and sellers. Buyers visit the site to search for products they want to buy from a vast array of individual sellers and then bid on items through individual auctions.”
Fun facts about eBay:
The eBay search engine focuses on finding the best match for a customer. This means that the products that will appear in front of the customer are products that best match the keywords they used when searching. For example, if they searched for a “red phone case,” the search engine will only pull products with those specific keywords. After that, the search engine will focus on the following:
Here is how you can optimize your product listing on eBay:
As you’ve seen from the list above, eBay cares about customer experience and tries to provide the best match for a customer. The first thing you need to do is have an accurate and detailed product description to help the search engine understand your product and match you with a potential customer.
Misleading, inaccurate, or incomplete product descriptions can be detrimental to your listing. Incomplete content will affect your seller track record, and the quality of your listing/s. Make sure your product description is:
Keywords play an important role in any listing, but you never want to put too many as that it’s considered keyword stuffing. The concept of “keyword stuffing” is when you purposefully use an excessive amount of keywords to try and manipulate a search engine to help you rank more. Today’s search engines see past this and have the potential of making your listing rank lower, so identify three to five keywords related to what a buyer would search for and use those.
According to eBay, listing with high-quality digital media such as images and videos is 5% more likely to make a sale. You’re allowed to upload up to 12 images on eBay, so use that to your advantage and upload images of your product/s from different angles to help a customer get a 360-degree view.
But avoid borders or text in your photos.
eBay’s new interface lets you make the most out of your list. It allows video playback, it’s mobile-friendly, and users can enjoy a large image panel. There is also pagination dots that show a user that there are additional images to view.
One of the ranking factors on eBay is how popular a listing is. So, if you think about it, what drives customers to purchase a product? Free shipping.
Even research shows that free shipping is one of the top influences that drivers online customers to purchase an item. So, make this an option so that you have a competitive edge against your competitors. This will also make your product appear more affordable as they won't have to pay for shipping costs.
As you can see, when it comes to selling your products on a different sales channel, you need to tweak and tweak some more to ensure it meets a specific channel's requirements. It’s the only way you’ll be successful on the platform.
For effective multichannel management, you need a PIM tool (also known as a content management tool.) What PIM does is it safely stores your product data in one place, acts as a product listing software to optimize content, and then serves the role of a marketplace connector. Try our PIM for small businesses, for free, and take your product experience management (PXM) to new heights.
Read more here about the benefits of a PIM and how it can help with multichannel ecommerce success. Simplify retail channel management and get ranking today!