Marketplaces: they are increasing in size, in importance and are conquering more spots in Google's search engine, both in organic and paid traffic. Marketplaces are therefore an essential part of your marketingmix strategy in 2021. Presence on platforms such as bol.com, Amazon or VidaXL offers a lot of opportunities for your organisation. In this blog post, we will discuss advertising on marketplaces as one of the features of such platforms. We will zoom in on the many advantages that advertising has to offer.
1. Increase your revenue
One of the reasons of advertising your products on a marketplace, is to increase your revenue. You can highlight your products for consumers by making use of advertising. This increases your sales and thus your revenue. You would typically want your advertising to be profitable. A proper strategy is therefore important, rather than advertising without plan. Think thoroughly about how you want to showcase your products. Are you aiming for generic terms or would you rather aim at specific keywords?
2. Create more brand awareness
You might have issues standing out from the crowd when you have a unique, but rather unknown product brand. You can increase your consumer reach by advertising. When those consumers make a purchase, you can focus on a positive brand experience by thinking of a strong shipment strategy. For example, you could use packaging that fits your corporate identity or include a small gift in the box to thank the consumer for their purchase. This creates brand experience and helps to increase the number of recurring customers. It also helps to create word-of-mouth.
3. Boost your new products
Are you positioning a new product in the market or are you known as a brand, but not with your new product? You can use advertising to showcase your new product by improving your rankning within the marketplace. This helps to aim at consumers that are familiar with your brand to buy and experience your new products.
4. Collect reviews
The purpose of advertising is to increase sales. Spending more attention to your shipment and product creates a positive experience for consumers. This helps to collect more reviews, which also helps to better rank your product when you stop advertising. Reviews also ensure social proof which helps to convince other consumers about your product. This also contributes to increased sales.
5. Win from your competitors
Advertising offers many opportunities. You can target on specific categories, but also on product level. Are you selling a similar product as your competitor? Then you can include your competitors in your strategy. This makes you stand out when consumers are looking for your competitors and offers an altenative for the consumer to consider.
6. Only pay when someone clicks your product
Similar to a search engine, most marketplaces offer a "price-per-click" option. You select a price you would like to pay for a click on your product. This means that you will only have costs when someone actually clicks your product and thus lands on your product page. Another advantage is that you increase your visibility without paying for this. This also increases your brand awareness within the search results of a marketplace.
7. Reach potential new customers
Platforms such as bol.com and Amazon attract millions of daily visitors. The consumers have a much higher purchase intention compared to consumers that are using search engines such as Google. This makes advertising on marketplaces very succesful in reaching consumers that you possibly couldn't reach before. It is therefore very interesting to advertise on marketplaces such as bol.com or Amazon.
8. Boost your brand
You often hear that companies fear to lose brand identity when they participate on marketplaces, because there is less brand experience. We disagree, because it also depends on the product you sell. Are you selling a product which is also offered by 50 other sellers? Then people are often looking for this product specifically and it doesn't matter where they buy it. This is also the reason why consumers often use a one-stop-shop such as bol.com. This is driven by previous positive experience with price and delivery times amongst others. They thus don't use Google to restart their search for a product. This is a nice opportunity for organisations to be present on marketplaces, so you can reach a target group which you otherwise might have missed. You can create a unique brand experience in your shipment with branded packaging and gifts.
Amazon understands the fear of "losing brand identity" and offers external sellers to create their own brand page. This basically means that you can have a store-in-store on Amazon. You can use your corporate identity visuals on this page, so it matches your website's identity. You can offer your complete product range as a kind of mini-website. This ensures you can keep your brand identity, it helps to let consumers get acquainted with your brand, creates recognition and and brand experience. You can also use your "Branded Store Page" to advertise on Amazon, so you can boost your brand on an external platform.
Want to start advertising on Marketplaces?
Do you want to start advertising on marketplaces or do you want to sell on different marketplaces in the first place? De marketplaces specialists from Blauwe Monsters can support you in this process and work together with you as a strategic partner to make your marketplaces strategy a success. Blauwe Monsters is an all-round online marketing agency with all knowlegde in-house to support your online growth.
This article is written by: Jack Zuidam, Marketplaces Specialist at Blauwe Monsters.