Every business owner seems to be following the path of having their products be sold on market places. Ask yourself, why are you building up a shop that is controlled by someone else? Do you want to take control of your own business and costs? The only way to do this is to start your own online shop. It is time to stop relying on market places and start growing by starting a online shop.
We give you four good reasons to have an online shop of your own than preferring to be associated with a market place for selling your products.
Differentiate yourself from others: When you are on market place, you tend to look at other shops which are of same category and start structuring your product listings similar to theirs. Customers get to to see same images and listings and you lose to stand out. From buyers perspective, they don’t differentiate between sellers, so the factor of buying your product has less chance.
Price drop, discount and coupons war! Market place is all about discounts and price war. Most users look for the discount options and tend to make a decision on buying. The only reason that people will buy your product is if it is cheaper than your competitors’ or due to availability.
Potential buyers can easily sort by price. As a result, your margin will be lower. If you have an online store, you can escape the price war by having a uniquely designed web shop and providing quality service.
Managing and tracking Inventory: Efficiency is important when selling online. It reduces cost and keeps your customers satisfied with your service. A good inventory management tool also prevents sending out the wrong items. With your own online store, you know your stocks -low or high levels, get automatics notifications which will save time and you can focus on bigger things. Its all about your control and decisions and managing is easy.
Focus on customer satisfaction: 80% of your customers only contribute to 20% of the revenue and 20% of your customers who are loyal customers contribute to 80% of the revenue. To get return customers, you must have a customer database.
Market places do not provide a customer database function in the platform. If its your own shop, you can start maintaining customers database and can connect with your customers with lots of marketing and promotions. You will have control to increase not just sales but your customer satisfaction too.
So it is time to take control and have your own online shop! Sign-up now on CloudShoppy!!