Explore new ways to get customers to your e-shop
After the launch of eBay, which was the first company to use the marketplace model 22 years ago, it still runs pretty well.
So we can have some conclusions for the marketplace model.
The number of large shops operating in such a way, allowing the others to earn some good money by selling their products, services, and unique experiences, is continually growing. Just take a look at Apple, Google, Uber, Airbnb, or Etsy. eBay’s idea benefited many companies, including same scope businesses, creating space for all kinds of product sellers.
Imagine now that the idea can expand the marketplace model to offerings beyond products, such as loyalty schemes or vouchers. What’s better of offering a broad range of redeeming options not constrained to your business scope but also understanding the overall behavior of your customers.
Through the “customer engagement marketplace” solution of wadata and bring to your e-shop even more members from our community!
Wadata marketplace enables its members to redeem points in any business, exchange points with other members, and learn about new rewards programs by becoming a member.
Being a part of such a marketplace, you can benefit your e-commerce business in multiple ways. Let’s see how.
High traffic channel
Being a part of a marketplace, you are deceiving into an existing traffic machine rather than finding customers on your own, which is much more challenging and expensive. With your e-shop, no matter how meticulously you make your daily activities, you won’t be drawing nearly as much traffic as marketplaces do.
New customer acquisition
One of the most significant upsides to being part of an existing marketplace is that it already has an established user base that visits and trusts the platform, with excellent chances to convert them to a customer. This eliminates the amount of work you need to do to get new eyes to see your offerings.
By offering your services or products via a marketplace, you will have much more chances to reach these new customers who may never have heard of your e-shop before. This can also lead them to visit your shop independently so they can become familiar with your e-commerce.
People tend to purchase from well-known marketplaces because it’s safer than other smaller online stores. For example, you have to choose between buying a product on Amazon versus a private online store you have never visited before; what will you choose every time? I bet, Amazon.
This happens because they already have trust, you know you will definitely receive what you have paid for, and all my information is already stored, making it super quick and easy at the checkout. By choosing to incorporate your loyalty program on a marketplace, the existing trust for the platform will be extended to you as a seller right away.
Are you still thinking of putting your business in wadata?