10 must-have features for managing your white label marketplace effectively

Seeking to expand your brand reach and drive sales by building a white label marketplace?

A great idea indeed!

However, with great potential comes great responsibilities. 

How are you planning to manage the various facets of a white label online marketplace?

From seamless integrations to optimized user experience, it requires meticulous planning and agile execution.  

Well, you need a strategic mindset to unlock the full potential of white label solutions.

Wonder how to take it forward?

Fret not, let’s delve into the essentials of managing your white label SaaS marketplace efficiently.  

Why Your Brand Needs A White Label Marketplace

To make your enterprise brand recognisable and have its standing, it is essential to build a white label website that helps your brand grow faster.

In an era where buyers seek personalized experiences and authenticity, your branded marketplace can help you leverage trending buying patterns more effectively and strategically.

Let’s first have a look at the growth trends that can be successfully applied to your branded marketplace website:

• $8.7 trillion is the expected sales on multivendor marketplaces by 2025
• 35% of online businesses have switched to a multi vendor marketplace by 2023
• 48% of buyers prefer going straight to a marketplace website when shopping online
• 62% of global online retail sales come through online marketplaces
• 75% of frequent online buyers wish their favorite retailers had marketplaces 
• 94% of B2B buyers use online marketplaces to source products/services

Source: Digital Commerce 360, Finextra, Bain & Co., Accel Partners, Gartner

With the surge in the significance of online marketplaces in recent years, brands have adopted this model to carve a niche for themselves. Building white label online marketplaces helps brands expand their market presence and drive innovation to stay competitive in the ecommerce world.        

10 Must-have features to efficiently manage your white label marketplace

While building a white label marketplace is a strategic move that helps brands reach new markets swiftly, building and managing it efficiently is not a mean task. Gear up with the best white label marketplace software that makes it not only easy to manage your marketplace but also enhances value for both the buyer and the business.

1. Complete control to admin (s)

When you launch a marketplace for your sellers, it becomes a tough task to exercise control over the vendors and their products. With multiple vendors on the platform, admin needs to have the authority to vet sellers, review their listing before the product goes for public view, and tackle issues if any faced by vendors. Complete control of admin teams over the marketplace is essential for a smooth vendor onboarding process, product listings, driving sales, etc.

StoreHippo white label marketplace software offers full control to the admin(s) over the vendors, their products, orders, etc. Each product listed by the seller first goes through the admin team's scrutiny and then is displayed on the marketplace or made available for the buyers. This way the admin can keep a check on the unwanted or elicit products being listed on their marketplace. 

2. Comprehensive vendor management solutions

Since you are going to onboard multiple vendors on your marketplace, you need advanced vendor management solutions to ensure smooth day-to-day business activities. Managing and keeping track of the inventory of multiple vendors from multiple locations on your white label marketplace is undoubtedly complex. Apart from the inventories, the admin also needs to manage orders, track shipments, ensure timely deliveries, maintain safety standards, keep a check on vendors’ licenses, etc. A comprehensive solution to manage all vendor activities like performance and reputation goes a long way in building brand reputation and charting an upward growth trajectory. 

StoreHippo solutions offer quick and easy vendor registration processes and offer a  comprehensive admin dashboard to help admin overview vendor details from a central dashboard. It helps the admin overview the very fine details like vendor-specific sales, revenue, best-selling products, vendor performance, etc. in just a few clicks.

3. Flexibility and scalability

When you build a white label marketplace, do not forget to factor in scalability right from the start. Wonder what makes us say that? Well, it must be easy for you to manage high performance even when your marketplace grows to millions of users, products, sellers, or locations. When your marketplace platform is scalable, it can accommodate business growth whilst saving you from migration pains. Inherent flexibility is equally important to help you build innovative ecommerce solutions for your customers. Also, flexibility is of utmost importance to build a truly white label marketplace solution that can be rebranded and repurposed for your brand’s unique needs.

StoreHippo white label marketplace software is built on a decoupled headless architecture that helps you completely overhaul the front end and the back end of your platform without having to disrupt the entire ecosystem. You can seamlessly design out-of-the-box solutions to stand out from the crowd of online marketplaces. The scalable could-native infrastructure of StoreHippo ensures peak-load tolerance during season times. With StoreHippo you can plan your growth strategies without having to worry if the platform will be able to accommodate the growth. 

4. Reporting engine and analytics

This goes without saying. Data is the magic potion for success in modern-day ecommerce. To be able to create strategic business decisions for your white label marketplace, an in-depth understanding of the customer’s buying habits, product preferences, etc is a must. It not only helps you pitch the right product to the right audience via the best-suited channels but also helps offer undistracted attention to the customers. Software that helps you integrate with the best analytical tools and provides access to a variety of reports is a wise choice to go ahead with. 

StoreHippo comes with advanced reporting and analytical tools to help you understand the buyer personas and draft strategic marketing plans for your white label online marketplace. You can also seamlessly integrate your site with various data tools like Google Analytics, Zoho, etc. to gain rich customer data. You can also create dynamic forms to capture marketing insights during various stages of their order process. 

5. Flexible commission and payout management solutions

Managing commissions and payouts of a large network of vendors on your marketplace can be challenging. Different sellers can have different pricing structures or different preferences regarding the payment frequency. When you have a flexible payment management solution, you can foster inclusiveness and support for all your vendors. Moreover, with flexible commission and payment structure, you can quickly modify or customize new payout options as required by your unique business. Now the whole idea behind a white label marketplace website is the ability to customize the platform, right?           

StoreHippo comes with a detailed seller ledger module that helps you set up different percentages or flat commission structures and manage vendor payouts effortlessly. StoreHippo enables you to easily customize the shipping, payment, and discount options for all your vendors and ensures inherent flexibility. The adaptive payment feature from StoreHippo white label marketplace software helps you distribute payment between admins and two or more vendors of a multi-seller order seamlessly. 

6. Separate vendor dashboard and seller pages 

With multiple sellers on board on your marketplace, you need solutions that help your sellers manage their business effortlessly as well. As you enable your sellers to create a unique brand identity for themselves, they get undivided attention from buyers. It helps boost their confidence and increase the conversion rates. When your sellers manage their business independently, it also becomes easy for the customers to reach out to specific sellers via separate seller pages for repurchases on your white label SaaS marketplace. 

StoreHippo offers a separate vendor dashboard for sellers on your marketplace. All your sellers can manage their end-to-end business operations independently and manage complete order processes. Unique vendor dashboards also help the sellers manage their inventory, returns, refunds, order reports, customer-centric insights, etc in just a few clicks. They can get a detailed view of orders with complete details of open, closed, and canceled orders that help them in managing and running the business. With StoreHippo’s separate seller page feature, vendors can get undivided attention from the buyers and get opportunities to sell more through upselling techniques. 

7. Upgrades and updates  

When you build a white label marketplace website for your business, you also need to think long-term. What happens when the market dynamics shift and you need to adjust your platform to suit the customers’ needs and expectations? Or when your business grows and your platform fails to accommodate the growth? To save yourself from the pains of ecommerce migrations, look for software that periodically updates to keep up with the market trends. It helps you stay ahead of the curve and adopt any market shift without having to undergo significant disruptions because of these updates and upgrades. 

StoreHippo white label marketplace software comes with 360-degree solutions for building multi-seller software for enterprises across industries and geographies. The comprehensive built-in multi vendor feature from StoreHippo supports multiple business models making StoreHippo the best choice for building a tailored marketplace website. StoreHippo ecommerce platform is auto-upgraded and keeps pace with the dynamic requirements of the ecommerce industry.

8. A gamut of marketing tools 

As you build your marketplace, you also need features that make it easy for you to market the brand. Building a consistent brand image should not pose a challenge for you rather branding must be seamless and quick. When you choose a white label online marketplace software that comes with a host of marketing tools and features, it becomes easy for you to plan and execute your marketing strategies.

StoreHippo ecommerce solutions are designed to offer a gamut of marketing tools for B2B, B2C, B2B2C, or any hybrid business model. It comes with a built-in easy-to-use SEO tool that enables you to easily create unique URLs for pages, meta titles, meta descriptions, meta tags, keywords, etc. right from your admin dashboard. You can rank your enterprise marketplace higher on SERPs using StoreHippo built in tools. You can also use the built-in powerful discount engine to offer multi-level discounts and create personalized coupon codes for an enhanced marketing strategy on your white label SaaS marketplace. StoreHippo also helps you recover abandoned carts by sending out real-time emails and push notifications. 

9. Built-in order and shipping management

With 61% of the customers willing to pay extra for same-day delivery, a seamless shipping management solution is the key to your customers’ happiness. When you opt for a solution provider that comes with a built-in order and shipping solution, half your job is done. As you streamline your fulfillment cycle that ensures smooth delivery of orders on time, you build a strong brand reputation.

StoreHippo’s order management system helps sellers track sales, orders, inventory & fulfillment easily on the white label marketplace website. They can get complete order details, add new orders manually, and perform a variety of other operations. With StoreHippo’s manual order approval flow, the inventory gets automatically updated when the order is approved. You can also choose to integrate with more than one logistics solution from the 30+ pre-integrated logistics providers from StoreHippo. With the built-in logistics management solution, you can also import orders from different sales channels for seamless delivery. StoreHippo also comes with a complete delivery management system to help you align your fleet of delivery boys for efficient delivery. 

10. Seamless integrations

You must be well-aligned in using various third-party software and service providers to run your daily operations. When you build your white label online marketplace, you certainly would wish to continue using the same for seamless business operations. It then becomes essential to choose a software solution that makes it seamless to integrate with multiple third-party software or solution providers.   

StoreHippo marketplace software helps brands to seamlessly integrate with the software of their own choice. With StoreHippo’s headless APIs, brands can seamlessly manage their day-to-day business operations with hassle-free and quick integration of third-party software like CRM, ERP, accounting, and so on. StoreHippo helps you integrate with multiple delivery partners, payment channels, chatbots, live chat, etc. to help you create a smooth shopping experience for your customers on your white label SaaS marketplace. 

Conclusion

Well, an efficiently managed set up is the prerequisite for the success and growth of your white label online marketplace. And the best way to efficiently manage your marketplace is by leveraging advanced features and technology that helps you adapt to the market trends. 

StoreHippo white label marketplace software comes with comprehensive ecommerce features to help brands capture the ecommerce market. With support for diverse business models like B2B, B2C, D2C, B2B2C, Hyperlocal commerce etc StoreHippo also provides 300+ built-in enterprise-grade features for the smooth functioning of your white label SaaS marketplace. You can reach new markets, improve your efficiency, and future-proof your brand while managing it smoothly with StoreHippo. 

Are you all set to build and manage your white label marketplace website with StoreHippo? Explore the wide range of enterprise-grade features from StoreHippo by starting your 14-day free trial now.