Greg Zemor, co-founder of Neteven, discusses how to increase sales during Cyber Monday and into 2015 through online marketplaces.
Every retailer looks to the festive season for bumper sales and Cyber Monday gives a good indication of how successful the coming Christmas will be.
To ensure a successful marketing strategy over the period, retailers should ensure that their products are distributed to the widest possible audience, especially through online marketplaces. This sales channel is one of the most cost-effective ways to drive incremental sales and secure brand awareness.
In a well-rounded multi-channel approach, retailers should expose their catalogue on general and specialised marketplaces, as lots of shoppers will visit multiple marketplaces in the run up to Christmas.
Some retailers may be put off by the perceived time and cost of selling through a multitude of marketplaces, however, there is plenty of technology available to centralise and automate the process to ensure that the right product line is put in front of the right customers. Through automated tools, the marketing campaign can be tailored to maximise value in a short period of time, for every budget.
For retailers seeking to distribute their products across Europe, a useful tool is European Article Number (EAN) matching. This means that merchants do not need to translate their product data into different languages. Many marketplaces, such as PriceMinister, Cdiscount, Rakuten, FNAC and Rue du Commerce, offer this service in addition to several other useful tools, such as local customer service and flexible delivery. This enables retailers to make substantial savings on infrastructure costs.
The most successful marketing strategy for Cyber Monday is to market top selling products on several marketplaces, adjusting the price and promotions according to competition. In addition, offer shipping regularly and deliver quickly to make your offering is as attractive as possible.
Being underprepared for Cyber Monday can be costly in many ways, so it is crucial to make sure that stock levels are updated for any surge in purchases. To keep customers engaged, they must be satisfied with their overall shopping experience, so make sure that they are happy with the service they receive to reap the benefits of further sales.
Furthermore it’s important to keep in mind that this approach is not just relevant for the festive season, but is something that can help boost sales and reach new markets throughout 2015.
Greg Zemor is co-founder of marketplace distribution solution Neteven.