As e-commerce gets more popular, more brands are joining online shopping sites and using them as their primary retailers. This might be good for the websites providing the platform, but it’s a nightmare for the individual brands. How so? With all the other competing brands selling on the same platform, it’s harder for your brand to capture the customer’s attention.
4 Benefits of Multichannel Selling
To work around this challenge, many businesses have resorted to multichannel selling. Although about 70% of businesses that operate online in the US use multichannel selling strategies, not many of them exploit it’s full potential. Let’s look at some reasons why you should consider selling on multiple channels.
1. Increased Revenue
It goes without saying that when your product is available on more platforms, it will reach more customers. With more customers comes more profits. Being available on multiple channels also increases the loyalty of your customer base because they can find you wherever is convenient for them. This will not only be beneficial to the popularity of your brand but also give your business a steady revenue flow.
2. More Customer Data
Social media plays a big role in multichannel selling. In recent years, the most popular social media sites, Facebook and Instagram have been keen on e-commerce. When your products are available on these platforms, you can get more customer feedback and other data like preferences, age-groups, and locations. This information is key to improving your marketing strategy.
3. Diverse Customer Base
When your products are only available on one platform, you’re only targeting that platform’s users. You might be missing out on more potential customers who are unfamiliar with that platform.
4. Better Customer Experience
Being able to access your product on different sites will increase the customer’s confidence in your brand. It will also give them the chance to decided which platform is most convenient for them to use to access your products.
Multichannel marketing will position you as an authority attracting more customers. However, you should be familiar with which platforms are likely to give you the most success.
Contact us for data-driven marketing to help you learn more about the platforms.
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