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More Profit Through Marketplace Or Online Store In Online Business

Life For Techno - More Profit Through Marketplace Or Online Store In Online Business, if you are planning on selling products online, there are two options available: Marketplace vs Online Store. Then, which one is better? Which is the right platform for you to sell online?

In this article, we will help you make the best decisions for your business development. Of course, the final decision is yours. We try to present various facts about both. Curious?

Marketplace is a platform, whether in the form of a website or application, which is managed by a company (third party) to facilitate the meeting of sellers and buyers online.

You can think of a marketplace like a department store. Many sellers with various types of merchandise in the same location.

What are the advantages of selling on the Marketplace?

More Profit Through Marketplace Or Online Store In Online Business

The following are some of the advantages of selling your products through the marketplace:

1. Easier to Get Started

Marketplace allows you to start an online business at any time. You just need to decide which marketplace you want to use, and start registering.

For example, if you want to build a business through an Online Store, you can use your Facebook, Google, email or mobile number.

After the registration phase is complete, you can start filling in your identity and your business. Next, immediately install your various products on the shop window in the marketplace.

Each marketplace can have a different way. However, in general, just register an account, then display the product.

Read : How To Run An Online Business To Generate Maximum Profits

2. Only Minimum Capital Required

Besides being easy, registering on the marketplace is free of charge. In fact, if it is limited to a regular seller, no service fee is charged.

Depending on the marketplace you use, you may only share 1% profit per product if you upgrade. The purpose of upgrading membership status is to get various promotional benefits and a level of buyer's trust. However, being a regular seller is not an obstacle to getting income from selling your products.

3. The System Is Available

You don't have to bother designing a system for your online business. Marketplace has prepared your selling tools well. Starting from the website and platform, attractive design, product purchase flow and more.

One thing you need to do is upload the best photos of your product. Do not forget to also provide a description that reflects the advantages of your product. In this way, your product will be able to compete with other competitors.

4. The Market Is Already Established

As the name implies, a marketplace is an online marketplace. This means that buyers will immediately come to the market if they need a product.

Using the Etsy example. If someone wants to buy handicraft products, he doesn't need to be confused about who is the seller who owns the item. It is enough to come to the online market and buy products with ease.

The reputation of a marketplace determines the success of the business you run. Both from the ease of access, to the level of security of the transactions it manages.

In short, if someone buys from Lazada, the name of the marketplace is what they have in mind, not your store. For new businessmen, this is certainly quite helpful.

5. No need for a marketing strategy

Have you ever heard of free shipping? free domain hosting promo Or 10.10 discount promo?

Yes, there are many ways to offer a product to attract customers. Marketplace has a myriad of marketing strategies. That means you don't have to do it yourself. You only need to focus on the quality and availability of your product when selling on the marketplace.

In fact, the marketplace will also think about how to attract more and more people to their platform. This requires good SEO (Search Engine Optimization) techniques and marketing strategies. Again, you don't have to do this step yourself.

What are the advantages of building an online store?

Building an online store will provide you with the following benefits:

1. You are in full control

You can imagine not being in a market, but in your own shop. You can determine the shape of the building, the color of the paint, the layout of the items you sell, and so on. In essence, you have complete control.

You can also use your own approach when building an online store. Do you want to be more on sale? Or do you want to provide an educational approach through your online shop?

Who knows, buyers who come are based on the belief that you are an expert in the field of the product you are selling. For example, developing a blog as is done by this local clothing brand Ditzbrand.

2. Bigger Profit Margins

What happens when you don't get caught up in a price war? Yes, you are free to determine the value of the products you sell.

Having your own online store allows you to make a profit with a large profit margin. The reason is, you can determine the profit per product item. In addition, you can also adjust which products you want to increase sales.

You also don't need to pay for advertising to promote one of your newest or best-selling products. Just set up your online shop, everything will be ready in no time.

3. Easier in Retargeting

Retargeting is a way to re-attract consumers who have visited your online store, whether they made a purchase or not. How many sales opportunities can be increased through retargeting? The answer is 161%!

The reason is actually quite simple. By reminding consumers of products that have been seen, it means that we understand the needs of consumers.

This approach is quite effective because almost 70% of ads that use the retargeting approach always succeed in leading to a purchase transaction.

In addition, you no longer need to use large promotional costs, because retargeting focuses only on potential customers.

4. Freedom in Branding

If you want your business to be known by consumers, starting with an online store is the best option. Because, you can build your brand more effectively. You cannot get this if you use the marketplace.

Keep in mind that 73% of consumers prefer to make transactions with brands that provide a unique shopping experience. These data show that your potential to attract consumers is much greater if your online identity is known by the public.

Branding can be related to the vision and mission of your business. Branding is also related to how you present your company image through dominant colors, educational approaches, and others.

After all, many startups start a business from their own online store. In addition, if the product you have happens to be very unique, of course it will be difficult to determine the right category in the marketplace.

5. Do not depend on third parties

If you succeed in building a brand and creating strong engagement, your business will be able to survive for the long term. Your online store has an important role to play in building the sustainability of your business.

In addition, you are not dependent on third parties. Not only in terms of sales, but also from the existence of your business. Imagine if your product sales are selling well, but suddenly your marketplace closes its business. You will be affected, won't you? Therefore, considering these factors from the start of building a business is highly recommended.

Read : How To Implement The Sales Funnel In Online Business

6. Targeting the Global Market

The development of the internet allows you to reach anyone around the world. The products you offer are no exception.

If you build an online store that operates well, the opportunity to target the global market is very open. This may be constrained if you use the marketplace due to their different business strategies.

Not reaching the global market can be a disadvantage. Because, various information states that products from Indonesia are popular with the world community.

An example is Salam Rancage, which has successfully exported various handicrafts from recycled materials. Starting from a capital of Rp. 500 thousand, the profit per month of this business reaches more than Rp. 20 million! In fact, it continues to grow as demand increases. Of course this is enough to inspire you how you will build your business, right?

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