It has been over a decade since many influential businesses around the world have shifted to the online marketplace to level up their sales revenue. And the thing that has made this possible is technology. Many companies have integrated their business model with the Salesforce Commerce cloud marketplace connector to run their business in a hassle-free environment.
Today, when it comes to shopping, a lot of people prefer to buy online rather than hit up a physical store or even a supermarket. This great shift in people’s preferences is mostly driven by one thing—a high degree of comfort. If you have an established business or a start-up, a digital marketplace can derive a plethora of benefits.
The world population is somewhat over 8 billion. In 2019, the global retail eCommerce sales went to $3.53 trillion, which is truly mammoth. This implies that more than half of your target audience is searching for your products online. Therefore, if you want to generate more revenue for your business, you need to switch to technology.
It is right to say that digital marketplaces are the future of businesses. But it is not that easy to take the entire business online. It includes plenty of processes, strategies, software, and the right mindset to achieve something big. This article will walk you through how an online marketplace can increase your business productivity.
How to Find the Right Digital Marketplace for Your Business?
If you want to sell through a marketplace, it is presumed that you have a commodity-based business. Now, the only thing that you need is an audience who will pay for what you are selling. But which marketplace do you trust?
It is a fact that the popularity of the marketplace matters when you are selling online. Amazon, Etsy, eBay, and Alibaba are some of the most preferred eCommerce platforms by both consumers and businesses. Amazon may work wonders for some, while it may not for others, and vice versa.
It depends on what you are selling. Amazon is considered the best digital marketplace for B2C selling. Also, you should trust the platform whose main priority is to serve the customers well. Without customers, there wouldn’t be any marketplaces or businesses. Hence, a platform that offers an unmatched user experience should be the way to go for your business.
However, if you don’t want to trust any of the marketplaces making billions out there, you could create a new marketplace and compete with the existing ones in the future. Yes, you heard it right. It won’t be easy to do so, but it can happen with the help of the SFCC marketplace connector. You just need the right guidance on its practicality!
How Does the Digital Marketplace Improve Business Productivity?
By now, you must have understood how an online marketplace provides opportunities to businesses and how you could figure out the best platform as per your line of business. Fast forward, it’s time to reveal the 4 ways in which a digital marketplace will enhance productivity and skyrocket your sales.
1. Make People Speak About You
In the online world, there is the least amount of interaction between the end-users and the business stakeholders. The only things that speak about your business online are the content and product listings that also serve as a strategy for your company’s brand building.
Everything, from text content to graphics and videos, should be of the top-notch quality that could allure people visiting the marketplace. When you do this, people will speak about you and your business will foster positive word of mouth. And when more people talk about you, their human psyche will intrigue them to pay you for your products or services, leading to exponential growth in your sales.
2. Build a Niche Marketplace
Humans are like-minded creatures who prefer to reach out to like-minded people. If you build a digital marketplace revolving around a particular niche, it will bring you only the people who are interested in your offering.
This will ultimately result in a lower bounce rate and more conversions. And to make all this a painless procedure for your audience, you need to have the finest tech serving you. To have an astounding marketplace, nothing can be better than a Salesforce Commerce cloud marketplace connector.
3. Localization is the Key
When starting a business, it should be your priority to stay local. In research, it was found that people like to buy services online from a company that focuses on localization. The tone, intent, and emotional value of the language of your digital marketplace should match the psychology of the target audience. The consumer resonates with the language of the content. All this could be done seamlessly with the help of a tech-enabled digital marketplace.
However, you need to have the best systems and technology in place to achieve it. Even if you want to go global, starting from your native place is viable. Once your business thrives, you can consider scaling it up to other parts of the world. The prowess of going local will help you yield great results in the initial phase of your business itself.
4. Sales-Promoting Technology
The needs and wants of the customers are the root cause of your business’s existence. In order to monetize the desires of your potential audience, you need to channel them to an online place that not only cuts the mustard but also makes them feel valued. A digital marketplace driven by an SFCC marketplace connector will allow you to smoothly taste the fruits of your efforts in no time.
The tech that promotes sales should be on your mind whenever you wish to build your own marketplace. The state-of-the-art technology stimulates the pain points that you would miss managing things manually. Hence, when you have the best tech out there assimilated into your business undertaking, you will be able to attract huge wealth apart from acceptance from your customers.
With a user-friendly Salesforce marketplace tool, you can effectively and efficiently cater to the audience that has developed trust in you. Building up the marketplace is one thing, but resiliently serving the people who come on your platform is just another ballgame.
Even a single mistake online could take a toll on your entire business. Therefore, it is always recommended to have the best in order to become the best.