Online marketplaces? Here's how to get started!

1. Choose your online marketplace platform(s)

Online marketplaces are a handy way to expand your online sales activities. Online sellers have increased their sales by as much as 1,250% by offering their products on online marketplaces. It is crucial, however, to choose the right marketplace for your products. 

The list of the biggest marketplaces in the Netherlands currently looks as follows:

• Bol.com
• Amazon
• eBay
• Beslist
• Marketplaats
• Zalando
• VidaXL

2. Calculate your costs

Online marketplaces differ in the way they charge for listing or selling products. In general, you can expect to pay a number of costs, including:

Listing fees: Every online marketplace has its requirements, including listing fees for selling products on its platform. Platforms such as Facebook Marketplace do not charge for a listing, but Amazon's Individual Plan, for example, charges $0.99 per listing.

Transaction costs: Transaction costs vary depending on the online marketplace.

Commission: Commission costs vary depending on the online marketplace. However, places such as Bol.com charge a commission of 8-15% on every sale.

Registration/sign-up fees: Not all online marketplaces charge registration fees, although Amazon charges a $39.99 registration fee as part of its Professional Selling Plan.

Advertising costs: To gain more visibility, you can use an advertising budget to rank higher in the search results. These costs are determined by a click price, just as with Google Ads, for example.

3. Manage your inventory

Inventory management is the foundation of an effective retail business. As an online seller, it is not possible to order, reorder and sell your stock with confidence if you do not have your inventory under control. In other words, you will want to structure your inventory and create a system before you start selling.

Of course, you can always choose to store your inventory in your home office, storage shed, garage, or wherever you like. However, depending on the size of your business, you might consider using an inventory management system.

A good inventory management system provides the following functions:

• Keeping track of stock
• Ability to calculate stock and costs
• Inventory management
• Information about storage locations
• Evaluating past sales data

4. Create your listing

It doesn't matter what you sell, but the offer will need to be added to your shop on the online marketplace's platform. And to increase your chances of success, you will need to invest in a comprehensive listing to convince the customer. 

Here are a few tips for optimising your listing:

Shorten and optimise product titles: Don't fill your titles with every possible word related to your product. Instead, choose a few primary keywords and use them in the title.

Upload enough high-quality images: High-quality images are crucial to the success of selling your product. Try to use a high-resolution photo of your product on a white background.

Add a video to showcase the product: Research has shown that 90% of people find product videos helpful when making their decision. It is important to keep videos short (under a minute), add a thumbnail, and update them regularly.

Write compelling product descriptions: Like the title, images and videos for your product listing, writing compelling product descriptions is just as important. The description should give users the information they need to convince them to add the item to their cart.

5. Promote your listing

It is important to define a strategy and choose the best methods to drive traffic to your online marketplace offer. Here are some useful strategies that will help increase visibility:

Optimise visibility in on-platform searches: Organic searches account for more than 50% of all visitors to your website. By using relevant, targeted keywords you will be placed higher in visibility.

Paid social media: Social networks such as Facebook, Instagram, TikTok and others offer paid advertising features supported by algorithmic targeting. These options can be effective in driving traffic directly to your offer, but it is advisable to have a thorough knowledge of your target audience to improve your return on investment.

Organic social media: It is free to show your new products to your followers. To generate extra traffic, you can organise special promotions or giveaways.

Use influencers: Working with a social media influencer can generate both hype and sales for your product. Reach out to influencers whose audience is aligned with yours, and see whether you can arrange a relationship that benefits both parties.

Create content: Attract customers by writing blogs or videos that highlight the value of your products. The best content speaks directly to the needs or desires of your audience and positions your products as a ready-made solution.

Are you curious which online marketplaces are interesting for your business? BE Digital is happy to think along about where we can best find your target audience and supports you in setting up these online channels. Also take a look at the pros and cons of online marketplaces!