5 Ways Power Sellers Can Make Or Break Your eCommerce Marketplace

Ways How Power Sellers Can Make Or Break Your eCommerce Marketplace

eCommerce sales account for nearly $5 trillion in revenue today. Regardless of what industry you specialize in, it’s clear that this is the landscape of business that we all need to capitalize on. 

When building your own eCommerce marketplace, it lives and dies by your ability to attract the best sellers. These top performers, known as power sellers, are essential to the growth and success of your platform. 

Keep reading to learn more about the benefits of improving the marketplace seller and buyer experience by encouraging power sellers. 

1. Quality Sellers Bring More Shoppers

If you don’t have sellers, you don’t have shoppers. A marketplace power seller has the most volume and a vast inventory of products that people can choose between. 

Not only does this attract new buyers, but customers will begin shopping exclusively with these sellers, offering them repeat business. These marketplace power sellers bring you the most revenue when you collect your fees. 

Seller intelligence is a solution that can help identify power sellers providing you with the contact information that you need to build a rapport. This relationship can help you grow their conversions and improve your market share. 

2. You’ll Increase Brand Awareness and Trust

When you have power sellers, they legitimize your marketplace on a larger level and build trust with consumers. 

It typically takes at least 5 impressions for buyers to make a decision to purchase. Your marketplace vendors have a vested interest in getting more attention to their personal stores, which ultimately brings more awareness to your platform. 

This is why encouraging power sellers ranks highly among the most important eCommerce tips you can follow. Buyers are more hesitant to shop with vendors that only have a few confirmed sales or reviews. Having more trusted sellers will give you a larger inflow of traffic and revenue for the long haul. 

These sellers serve as your foundation, which you can build on the more you attract these power sellers. 

3. Shoppers Will Have a Better Experience

Power sellers are full-timers with their online stores that are constantly making improvements. The customer wins most because these improvements reward them with a better shopping experience as a whole. 

Power sellers also deal with greater sales volume, are more responsive to customers, offer more payment options, and tend to ship orders faster. They often run full-time businesses offline, such as a brick-and-mortar retail store that sells similar products. 

Because of this, these professionals are more likely to stay up-to-date with new eCommerce ideas and trends to consistently accommodate their customer base. They often run blogs and post videos so that their customers are informed. 

You’ll build shopper intelligence and attract your ideal customers when you’re always investing in improving their experience. 

4. Your Platform Will Attract Different Segments of Business

Power sellers will consistently bring you more eCommerce leads. This is one of the best things to learn when figuring out how to attract sellers to your marketplace. 

These power sellers will network with each other and always find new and different ways to improve what they do best. For instance, a power seller that is successfully selling products to consumers might choose to take the private label approach or look into things like dropshipping. 

This ultimately expands the reach of your outlet and the type of service that you provide to consumers. When your shoppers have more options for the types of products that they can get on your platform, it’s a net positive for everyone involved.  

5. Power Sellers Provide Constant Marketing

You can also count on power sellers to continuously market themselves and their brands. They have a vested interest in building their brand awareness, which will also raise more awareness to your platform. 

When you have a relationship with these power sellers, you can use eCommerce marketplace data to study the demographics of their customers and how they get their conversions. This can help you with ad placements and figuring out which customers you’d most likely to target. 

Having data at your disposal is best when you’re trying to figure out where to find eCommerce business leads because your goals will be more accurate and measurable. 

You’ll be able to scale your platform to achieve the type of growth that you expect, and can collaborate with your power sellers on ideas. 

For example, with Seller Intelligence, you’ll have the benefit of:

  • Taxonomy mapping
  • Analytics and price benchmarking
  • Access to seller store analytical tools
  • Product matching for more accurate categories
  • Real-time data to help get more sales and traction from seller channels
  • Product data enhancement
  • Catalog enhancement tools

It’s best to work deliberately with power sellers so that you can get on the same page with your marketing goals and steer them in the same direction. 

The Ultimate Marketplace Seller Experience

The marketplace seller experience that you create means everything when you’re trying to grow your platform. Power sellers are your bread and butter, and will help you get the results that you’re looking for. 

If you’re intent to get sellers to your eCommerce marketplace website, you need a helping hand. At Cluster, we have a team of professionals that are skilled and equipped to make all of your goals a reality. 

With Seller Intelligence by Cluster, you’ll have the data needed to put it all together.  

To book a meeting with us, use our contact form or send us an email at info@datacluster.com.

7 Tips To Recruit Power Sellers to Your Marketplace

If you’re looking to create a multi-vendor eCommerce marketplace, one of the most important things to consider is how to attract the right vendors to your marketplace.

Although eCommerce marketplaces can be incredibly lucrative, recruiting sellers for your marketplace can be extremely competitive. 

However, if you want to attract thousands of shoppers to your marketplace each day, you must give them what they want — quality sellers. And that means you must have a top-notch seller recruitment strategy.

Here are seven tips to help you figure out how to get vendors to sell on your website:

1. Contact eCommerce sellers on top eCommerce marketplaces

When you’re putting together your seller network, contact merchants on eBay, Facebook, or Amazon that meet the needs of your shoppers. More often than not, these sellers would love the chance for added publicity and likely would agree to also sell their services or products on your marketplace. 

2. How to find a seller offline

Reaching out to sellers via social media and other online marketplaces is a great idea; however, in-person meetings are also highly effective. Today, more organizations are again holding-in-person events after holding virtual-only events during the height of the COVID-19 pandemic. As such, you should take every opportunity to connect with vendors at meetings of merchant associations, trade fairs, and other offline events. After you get to know sellers at these events, add them to your social media contact list or send them emails to keep in touch and discuss collaboration prospects.

3. Offer a good user experience

A poor user experience is a major reason your target sellers would opt for Amazon rather than your marketplace so make it easy for vendors to publish and manage orders via your platform. For example, offer sellers an administration panel where they can track how many people viewed their products or service listings. You should also offer to help them publish their listings and provide 24/7 customer support. In addition, build a knowledge base to guide sellers as well as users around your platform. 

4. Employ a smart marketing strategy

A smart marketing strategy is one of the most effective methods to promote your multi-vendor marketplace platform and attract sellers. There are a number of ways you can promote your eCommerce marketplace.

For example, using social media groups, forums, and communities. Social media is a great way to connect with sellers and bring results for your business. Try posting informative and promotional messages on social networks. Regularly sharing information on social media platforms will keep sellers updated about the latest news regarding eCommerce marketplaces in general and your website in particular. Joining merchant communities and forum discussions across different social media websites and channels will also help you connect with them directly. 

5. Target ads properly

Another way to get the word out about your eCommerce marketplace and persuade merchants to join is by running Google search ads and display ads campaigns. Build ads so businesses can register on your online marketplace as sellers. You can also publish your ads on eCommerce websites.

6. Write blogs to attract vendors

Writing blog posts is another effective way to draw merchants to your multi-vendor marketplace. You can write about the successes of your current sellers, offer information about selling on eCommerce marketplaces, and other helpful business information for merchants. Post your blogs on your social media accounts as well as on your website. And you can boost your rank in Google search results by optimizing your blog posts for search engine optimization.

7. Target the right vendors at the right time

The types of merchant you want to attract to your marketplace varies according to where you are in the process. 

  • Stage 1: Launch and development: focus on finding specific merchants rather than specific products. Seek out experienced marketplace vendors with large product catalogs to ensure you’re offering buyers a large variety of good quality products.
  • Stage 2: Established marketplace: after you’ve attracted a sufficient number of experienced vendors, you need to ensure that you’re offering all the products and services that meet the needs of your buyers. Now, you can also onboard and train sellers who are less experienced to ensure they are also successful. However, you still need to keep seeking out experienced vendors to expand your eCommerce marketplace.

Conclusion

Acquiring the right vendors is a critical component of a successful eCommerce marketplace. The tips we’ve offered here will help make your eCommerce marketplace a success. However, attracting vendors is an ongoing process so you should periodically re-evaluate based on the requirements of your buyers.