The open source marketplace solution is a widespread model of running a business online nowadays. Increasing public acceptance and the overall efficiency of the model are bringing eCommerce marketplaces to the top of the list of the most profitable ways to make money on the internet.
At the same time, the more people jump on the marketplace bandwagon, the more difficult it gets to get into this industry. The early business model adopters – whether Amazon or eBay – are successful market players now, but can you still join them?
Let’s discover the most effective marketing strategies and find out how to attract users to your marketplace and grow your project to an enormous scale.
Raise Your Brand Awareness
One of the most crucial marketing aspects these days is to make your business stand out among the competitors, add a unique touch that will help customers to distinguish it from rivals. While the corporate identity often addresses this issue, sometimes it is just not enough. That where the brand awareness measures enter the stage.
You can greatly increase your brand recognition by engaging with the industry community. Running an electronics marketplace? Sponsor a technology meetup to cover the issue of choosing the right device and humbly mention your services in the end.
Have a book-selling eCommerce marketplace? Launch the best short story contest with book prizes. It aims at the target audience and shows your brand as a loyal and generous company.
Another way to increase brand awareness is a bit old-fashioned yet it works: outdoor advertising. Come up with some creative billboard banners and find the best place to show them.
Content: Drive Additional Web Interaction
Web promotion also means a lot to your marketing. Leaving this strategy sector unhandled is a bad idea. Let’s figure out how to please the search engines and boost your website to the top of search results.
You see, search engines strive to deliver the most helpful and relevant results. But how do they measure these figures? Here are the indicators that influence the search engine opinion significantly:
- The website traffic volume – This is as simple as it gets – the more people visit your website, the better;
- Interaction duration – Search engines determine the results’ relevance based on how much time visitors spend on the page.
With that said, running a blog with consistent content updates is an exceedingly reasonable and cost-effective solution for your SEO, the integral part of the marketing strategy for a digital marketplace.
Keep Up with the Social Media Trends
The majority of mobile users use social network apps on a daily basis. They find it both entertaining and cognitive. It is the perfect opportunity for you to promote your brand organically and reach an untapped audience.
The most substantial thing to keep in mind is the entertaining context of the post you are going to make. The point is, people use social media to have fun and learn new things. You need to conform to user intentions in order to gain their trust and interest.
Have a couple of thousands of target group email addresses? It’s never late to launch an email campaign. Whether you offer a seasonal discount or want to keep your users updated on the new products, an email newsletter may become your marketing weapon.
The Bottom Line
The digital marketplace industry is a subtle game of business strategies. You have to know all the market segment specifics to keep your head above the water. Try to see the full picture and come up with fresh marketing ideas.
After all, it’s not about market domination, it’s about delivering the best value for customers and making the industry a better place.