5 Smart Hacks For Better Sales On Your Multi Vendor Marketplace

Do you have a perfect set-up for a thriving multi vendor marketplace and yet not getting the desired sales? Well let’s do a quick check and see if you already have the following in place;

• A beautiful marketplace website 
• Rich product catalog to attract and engage buyers
• Streamlined logistics and frictionless checkouts
• Exciting discounts and offers to engage buyers 

Wonder with all the above boxes checked, what’s lacking in the branding of your online marketplace?

What do buyers expect from their favorite Multi Vendor Marketplace

Knowing what your customers want from your brand can take your business places. Let us find this out with data-driven insights:

How customers shop on Multi Vendor Marketplaces

• 67% of global ecommerce sales are done on marketplaces
• 48% of buyers go straight to an online marketplace when buying online
• 50% of buyers shop prefer buying through mobile devices than in-store
• 88% of customers find detailed product pages crucial for purchase decisions
• 60% of shoppers are more likely to be repeat customers when offered personalized shopping experiences on a multi vendor marketplace 
• 80% of shoppers are more likely to buy from a brand that offers personalized experiences
• 93% of online shoppers use some coupon or discount code year round to purchase

Source: Statista, 123formbuilder

Well, the trends tell a complete story of buyer expectations. Your marketplace brand needs to meet the buyers on multiple channels, offer personalized experiences and plan strategic marketing to make the kill.  

And if you have not been doing this, you need to revamp your sales strategy. Luckily, you are in the right place because we will reveal tried and tested sales hacks that can help you boost your sales and revenue. 

5 tried and tested strategies to boost sales on your Multi Vendor Marketplace

Running a successful multi vendor website requires a combination of effective strategies to attract customers, engage them and ultimately convert them to boost your order volume.

Image: Boosting online marketplace sales decoded

In this guide we will explore 5 effective strategies that have the potential to make your online marketplace a sales magnet. Here we go:

1. Simple Checkouts Process lead to faster checkouts 

Do you know the bad influence of long and fussy checkouts on your multi vendor marketplace? Well, complex checkouts result in abandoned carts, competitor site hopping by customers, a decrease in regular traffic and eventually loss of revenue.

You certainly don’t want this to happen to your business. So what’s the way out? Follow the hacks below to simplify your checkout process:

How to Simplify checkouts on your Multi Vendor Ecommerce Platform

• Offer guest checkout option on your marketplace app and website
• Simplify checkout with 3-steps i.e. Sign in > Delivery Address > Payment
• Give ‘Login with mobile number’ or ‘ Social Login ’ options 
• Have a system in place to follow up abandoned carts with automatic emails with discounts and coupons

Try this out and see your overall sales chart start climbing up quickly. Wondering how to implement these? You have a StoreHippo multi vendor ecommerce platform to help you get going.

Create Effortless Checkouts With StoreHippo 

To provide fast checkouts, you can try StoreHippo's in-built features. Implementation of single-page checkouts or guest checkouts can be done easily from your dashboard. You can also implement OTP-based or Social Sign Ons to do away with registration and signing-in fatigue. By simplifying the checkout process on your marketplace app and website, you are done with the biggest hurdle in nudging buyers gently towards purchase.

Even after giving the above checkout facilities, if a customer abandons his/her cart, you can send abandoned cart recovery emails from the StoreHippo dashboard to easily recover your lost sales. 

2. Build an Omnichannel Presence with a focus on Mobile Commerce 

Buyer journeys have seen a massive shift in recent years. Online shoppers connect with their preferred multi vendor marketplace brand on at least 4-6 channels before deciding on a purchase. The most loved channels of online buyers are marketplace apps and PWA stores that give a quick and seamless buying experience, anywhere, anytime.

Omnichannel buying trends

• 91% higher Y-o-Y retention for omnichannel brands as compared to single channel brands
• 250% higher purchase frequency on omnichannel sites
• 65.7% of global online retail sales come via m-commerce
• 60% of consumers prefer mobile shopping apps over mobile sites

Source: Statista, Target, DataReportal

The insights clearly indicate that building an omnichannel strategy with a focus on mobile commerce can supercharge your online marketplace sales. All you need is a next-gen multi vendor ecommerce platform like StoreHippo that helps you build multiple touchpoints easily. 

Why choose StoreHippo build your Omnichannel Marketplace Platform StoreHippo 

Thanks to the headless architecture of the enterprise platform you can add new customer touchpoints easily using the same backend logic and APIs.

Built on mobile-first principle, StoreHippo comes with an inbuilt mobile apps builder that builds your marketplace app without any coding or additional cost. To make your app more engaging, integrate social sharing plugins. This feature will allow customers to share products on other platforms(Facebook, WhatsApp). You can also convert your marketplace website into a  PWA store to reach customers on entry-level devices or low-internet connections.

StoreHippo also helps you in engaging customers better by offering built-in tools to create:

• Fast loading marketplace website even during peak season
• Easy navigation with an inbuilt search bar 
• Attractive web design with drag and drop design tools 
• Feature to add conversion-oriented and image-rich product pages 

With these features in place on your multi vendor marketplace, it is all set to reach a wider customer base and engage buyers better.

3. Leverage Personalization to boost salesOffers and Integration 

Customers love offers, freebies, etc. What they love even more is personalized landing pages, offers, deals and even personalized payment methods.

Let’s suppose your horizontal multi vendor marketplace is offering 20% off on sports items. You send emails and app notifications to all your customers, regardless of what their interests are. Well, despite the lucrative deal you might miss your sales targets as you did not segregate your buyers by their interest and shopping behavior and failed to personalize your marketing messages. 

Here are some insights on ecommerce personalization that further highlight the importance of personalization:

How ecommerce personalization impacts sales

• 92% of buyers are likely to buy personalized shopping cart recommendations
• 60% of buyers want real-time personalized offers            
• 66% of online buyers will leave their purchase midway if the content isn’t personalized 

Source: Forbes

Just personalizing your offers and messages can work magic for your multi vendor marketplace sales. So the first task is to segment your customer based on their recent purchase, browsing behavior, demographics, etc. Afterwards, send personalized offers and product recommendations via Email, SMS, app notification, etc.

Best Marketing Hacks To Win A New Customer

• Personalized Landing Pages: Design landing pages on your marketplace app and website that promote a special festival, customer group, brand/product line etc. and create an attractive landing page with conversion-oriented designs and deals.
• Personalized Notifications: Used to invite buyers by giving highly personalized notifications. For example- you can send a ‘price drop alert on cart items’ to customers who abandoned their carts.
• Coupons and Loyalty Program: Offer coupons and loyalty points to reward customers and make them engaged with your brand.
• Email marketing Integration: Sending manual emails can consume hours. However, by integrating automated email marketing tools, selling can be easy with personalized offers.

StoreHippo marketing tools to add a winning edge to your marketplace marketing

At StoreHippo, you get a host of built-in marketing tools required to convert buyers. What to expect? 

You can easily integrate email marketing tools like Mailchimp, Sendinblue etc. into your multi vendor marketplace. You also get a powerful Discount Engine, using which you can create multi-tier discounts at the category, product, cart level etc. You can also set flash sales by offering limited-period discounts and coupons. 

You can build dynamic marketing pages in no time to promote your special sales and deals. You can use unified notifications to engage and convert customers in real time. You can also have a store wallet on your marketplace app and website to add loyalty points for your customers and ensure they keep coming back to buy your products.

StoreHippo also integrates seamlessly with the best-in-breed analytics and tracking tools to help you understand customer behavior and buyer journeys better. The cloud-native infrastructure of StoreHippo and elastic scalability ensure your site performs top-notch even during peak load. With MACH architecture your marketing and development teams get better creative control to implement a personalized buyer journey across channels and boost your marketing ROI.

4. Informative Conversion-Oriented Product Pages 

You might have a great product. But, if the product page content on your multi vendor ecommerce platform is not persuasive, you will be missing out on the majority of your potential prospects. 

Apart from having detailed product information, your product pages should be designed in a way that they literally sell your goods and services without the intervention of a salesperson. 

Wonder what are the convincing signals and proofs you need to add on your product pages to make them an ad for your brand and its offerings? Here is a list: 

7 essential elements to create conversion-oriented product pages 

• Eye-catching, engaging product images and videos
• Easy-to-understand product descriptions. Place benefits and features prominently for each product sold on your multi vendor marketplace
• Make your product pages more sale-able with multilingual content that connects with diverse audiences
• Transparent pricing, quantity, and available discounts
• User-Generated content i.e. customer reviews, ratings, testimonials, influencers reviews, awards, etc.
• Use cross-selling and upselling to get bigger ticket sizes
• Additional elements such as size guide, FAQs, delivery cycle, shipping charges, return policy, etc.

Build Conversion focussed pages with StoreHippo Multi Vendor Marketplace Builder 

StoreHippo gives you a gamut of built-in tools and features along with comprehensive product management solutions to create compelling and informative product pages. You can write detailed product descriptions and build a multilingual marketplace with built-in multilingual ecommerce solutions. 

You can easily add multiple product images and videos that help your marketplace app customers zoom and check product details to make an informed purchase decision. By adding product reviews and ratings you can generate user-generated content that not only helps with SEO rankings but also builds trust in your brand. 

You can also upload product descriptions and details like prices, variants, etc manually or in bulk through CSV. StoreHippo multi vendor ecommerce platform also gives you upselling and cross-selling features to boost your order volume.

5. Build SEO-optimized Online Marketplace 

Want to show up higher in Google SERP? Want to steal traffic from your competitors? Optimize your multi vendor marketplace for search engines. 

Wonder why? Check the stats:

How Users Click on Organic Vs Paid Results

• 70-80% of all searchers ignore paid ads and focus on organic results only
• 8.5 times more likelihood of organic searches to get clicked than paid searches
• 43% of all eCommerce traffic comes through Google organic search

Source: ClickCease, Reboot

Organic rankings not only get you more organic footfalls and conversions but also build your brand value in the long run. A few smart SEO initiatives go a long way in building your brand authority and credibility.

Here are some SEO optimization guidelines which you can implement using SEO features and tools - 

• Find keywords that are related to the products/industry multi vendor marketplace. For instance- You own an online shoe marketplace. Keywords can be ‘buy shoes online’, ‘sports shoes for men’ etc.
• Write meta title, meta description, URLs, and main content of each product page. Include relevant keywords in your content
• Update the ‘Alt tag’ of images. Alt tags are used to describe the image in words because search engines cannot read images
• Write detailed  blogs to help your buyers in their purchase journey and maximize your reach

Increase Organic sales with StoreHippo SEO Tools

StoreHippo is a SEO-friendly multi vendor ecommerce platform. It comes with a rich library of SEO-friendly and mobile-friendly themes which help in building optimized site designs. Using SEO tools from StoreHippo you can build an effective SEO strategy and keep your pages and content aligned and optimized for better search results right from the start. 

StoreHippo offers SEO features like meta titles, meta descriptions, alt text, URLs, canonical URLs, keywords, etc. to help you rank better for each page and keyword group. Storehippo also integrates well with popular SEO tools and helps you get in-depth understanding of your SEO efforts. 

StoreHippo multi vendor ecommerce platform’s built-in blog engine enables you to promote your enterprise marketplace through educational content that tactfully leads to better conversions. 

Wrapping Up

Boosting conversions and sales on your marketplace app and website is easy when you have a killer sales strategy in place. All you need is insights, consistency and the right tools to implement your strategies for disruptive growth. 

StoreHippo enterprise multi vendor marketplace platform not only offers comprehensive multi seller solutions but also comes with next-gen technology solutions and a gamut of built-in tools to help you implement diverse strategies for growth.

Ready to explore the amazing features of StoreHippo multi vendor marketplace builder and align your business for better conversions? Get 300+ advanced features to create a niche for your marketplace website and apps. Sign up for a 14 days free trial.