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 email@example.com.