A quick glance at Amazon’s brand list reveals that hundreds of thousands of brands sell on the marketplace today — and for good reason. Millions of consumers visit Amazon each day to browse and purchase products that span across hundreds of product categories, from food to home goods to apparel.
But while the benefits of a marketplace presence are clear, many brands find that maximizing sales across all marketplace sites is no walk in the park. It can be difficult to keep up with regulations from site to site, stand out amongst competition and gain control of your brand’s image.
But with the right approach and technology, brands can combat these challenges and reap the substantial benefits marketplaces have offer.
Common marketplace challenges and tips to overcome them
- Standing out in a competitive market: Marketplaces are highly competitive and with so many products available, they can sometimes feel like a black hole. Many brands struggle to ensure that their products can be found amongst the thousands of other potentially competing products.
The solution? Optimize your product information with relevant, searchable keywords and make sure your products are listed in the right product categories to maximize visibility. Additionally, consider paid search campaigns to ensure that your brand appears in relevant search engine queries.
- Adhering to different marketplace requirements: Many brands find it difficult to navigate the unique regulations and requirements from marketplace to marketplace. For example, Jet.com offers unique cart discount options to motivate customers to buy in bulk. And Amazon’s buy box incentivises sellers to optimize prices.
These rules and regulations can be daunting, but a partner that understands the nuances of each site can help. The right technology and insider knowledge can help you comply with ever-changing marketplace regulations and offer strategies to maximize sales from site to site.
- Combating counterfeits or false product information: A major challenge associated with marketplaces is a general lack of control over third-party sellers that may offer counterfeit products or spread inaccurate product information. This can erode your brand reputation and lead to missed sales opportunities as customers can easily turn to competition.
Brands can get ahead of this challenge by owning the relationship with marketplaces. Amazon and other major marketplaces are aware of these issues and will work with brands to clean up untrustworthy third-party sellers on the site. Nike is one of the most recent brands to take this step. Just last month the company announced its plan to sell direct on Amazon and eliminate counterfeits and misinformation.
Brands need a central hub to manage marketplace partnerships
The best way to avoid these challenges is with the right technology. Many brands find that using a tool to act as a central hub for marketplace sales alleviates the headache.
Tools like CommerceHub ensure that product information, pricing and images are optimized for each marketplace, and suggest tailored catalogs for each marketplace based on competitive analyses.
Additionally, consider tools that offer a digital marketing component to help ensure that your products are visible to interested buyers across all channels.
Take advantage of CommerceHub’s brand marketplace offerings today.