Technological progress and the reach of ICTs in society has generated a new economic paradigm that enabled the development of new digital business models and sales formats such as, for example, the marketplace or ecommerce.
This new way of selling has allowed retailers to increase their market share and, in addition, to access potential new customers through attractive and easy-to-navigate online sites that allow them to market their products and expand regardless of their geographic location.
For consumers, it is also a format with many benefits! In addition to the simpler and faster shopping process, they have the possibility to browse different sites, compare prices and products and analyze the shopping experience of other customers. And the best thing is that they only need a mobile device and internet access to discover the variety of products on sale, no matter what time or where in the world they are!
So, if you own a business and you want to sell online, one of the best options is to start with marketplace, a digital space where thousands of entrepreneurs sell their products while consumers can access to many of their favourite products in a matter of seconds.
Currently, there are different sales platforms that adapt to the needs of each seller, such as how to sell on Facebook Marketplace, but if you are just starting out in digital business and you want to become an expert, here’s what you need to know:
Analyse the market
To enter the world of digital sales it is necessary to study the market, research how the public behaves, and know what kind of needs they have. Observing the behavioural dynamics of buyers will allow you to define your type of business, for example, what products you are going to offer and how you are going to differentiate yourself from the competition.
It is also necessary to define your target audience (socio-demographic, socio-economic and psychographic profile) and the scope you will have, for example, in which geographical areas you will be (either nationally or internationally).
Study the sales formats
Knowing the different marketplace platforms that exist will allow you to understand the characteristics and benefits of each one, their advantages and limitations, and the challenges they present in terms of administration and management of the site or in terms of logistics and payment methods: with this analysis you will be able to know which is the site that best suits your business. An important fact is that a marketplace is different from an e-commerce site: despite the similarities, in a marketplace different entrepreneurs sell their products through a common digital platform, while in an e-commerce site there is a single entrepreneur who sells his products or services.
Defining a strategy
Finally, it is necessary to define the way in which you will operate within the marketplace: this involves understanding how the dynamics of the platform you have chosen work and, based on this, defining your sales and communication strategy in order to differentiate yourself from your competition, generate brand awareness, expand your market share, and increase your percentage of sales.