It’s tempting to focus solely on your e-commerce store rather than expand to other marketplaces. You can retain control, connect with people who love your products, and not worry about additional fees and third parties.
But you’re missing out!
Using marketplaces like Amazon in addition to your eCommerce allows you to reach audiences you may not otherwise access and build an additional revenue stream.
It can take time to find an audience online, especially if you’re a new store. It requires spending time and money on marketing, developing content, and building a reputation. Utilizing a platform like Amazon that already has a built-in audience can help you start creating a customer base and making money right away.
What kind of built-in audience are we talking about? More than 40% of Americans buy something on Amazon at least once a month, and shoppers are more likely to start shopping on Amazon than anywhere else.
Since your audience is already shopping on those platforms, it can be easier to reach them than with a brand new website. The people that find your products on Amazon are also searching for exactly what you have to offer, so they’re more likely to make a purchase than a cold lead that you reach through advertising.
Why encourage customers who might otherwise shop on your WooCommerce store to purchase a product on a platform that charges fees? Because, in many cases, they’re two entirely different audiences.
According to a survey conducted by CNBC, 57% of Amazon searchers buy on their platform either all or most of the time. That audience is extremely unlikely to shop on your store, so make sure you’re still able to reach those customers!
Author of Rich Dad Poor Dad, Robert Kiyosaki, recommends building multiple sources of income to increase overall revenue and help mitigate risk. It can also be faster to create multiple, smaller streams of income than one large stream.
There are a variety of ways that you could use additional income:
Keep in mind that your margins will be lower on income that you make through Amazon due to the seller’s fees.
Amazon comes with tools that are especially helpful if you’re just starting out, such as:
Marketplaces like Amazon provide seller protection that help you handle unfair claims and unpaid items.
It’s important to note, though, that there are scammers that try to take advantage of these types of marketplaces and have learned to get around the rules. Learning how to keep an eye out for warning signs and how to handle unpleasant customer situations is critical.
More customers are starting their product search on Amazon than Google, with about 55% of customers heading to Amazon first. Even if customers ultimately purchase your product from your website, they often price check on Amazon first.
According to a CNBC study, about 90% of customers compare Amazon’s selection or pricing before making a purchase, often because of Amazon’s excellent search and filter capabilities.
And if your product isn’t there? A customer may decide not to purchase or may even purchase a competitor’s product that they find on Amazon.
Soliciting first-time purchases can be tough if you’re a new business, only located in a specific region, or don’t have brand recognition. Customers need to feel comfortable giving you their personal information (payment info, address, email, etc.) and money. This level of trust can take time to build!
But the vast majority of your potential customers recognize and trust Amazon. They probably already shop there and have an account that makes checking out fast and easy. And there’s a certain level of security that many people have knowing that Amazon have their backs, too.
Not only is setup straightforward,
Allow CustomWebsiteDesignSEO.com (CWDSEO) to connect you with Amazon marketplaces. Then bulk list all of your existing products on your Amazon channels with the click of a button!
Think of Amazon as tools that can help expand reach beyond your eCommerce store. While you’ll make the most profit and have the highest level of control on a platform you own, these marketplaces are a great way to find customers, build a reputation and eventually, attract a loyal following of repeat purchasers!
Begin the process today by contacting CWDSEO today.