Marketplaces
Marketplaces are online platforms where you can sell a wide range of products and services. They’re convenient but come with fees and competition. Great for expanding reach and building customer trust.
Sub-channels
| Name | Description |
|---|---|
| Amazon | Amazon is a go-to for businesses aiming to boost sales and brand awar… |
| Etsy | Etsy is a great place for creative entrepreneurs to sell unique, hand… |
| Retail Media Networks | Retail Media Networks let brands place ads directly within online ret… |
| Walmart Marketplace | Walmart Marketplace gives sellers a giant platform to reach millions … |
| eBay | eBay is a popular online marketplace where businesses and individuals… |
Related Tactics
| Name | Description | Difficulty | Cost |
|---|---|---|---|
| Adapt products to meet the cultural or regulatory requirements of new markets | Entering a new market? Tailor your products to align with local cultu… |
Intermediate
|
Medium
|
| Amazon Sponsored Brands | Amazon Sponsored Brands offer a way to promote your brand and product… |
Intermediate
|
Medium
|
| Amazon Sponsored Products | Amazon Sponsored Products are ads for specific products listed on Ama… |
Intermediate
|
Medium
|
| Amazon Stores | Amazon Stores offer businesses an online platform to showcase their p… |
Intermediate
|
Medium
|
| Conduct a thorough market analysis to assess joint venture viability | Conducting a thorough market analysis for a joint venture helps ident… |
Intermediate
|
Medium
|
| Conduct market research to understand competitors' pricing strategies | Want to stay ahead of your competition? Conducting market research to… |
Intermediate
|
Medium
|
| Engage with customers through Etsy’s messaging platform | Communicate directly with your Etsy customers using the platform's me… |
Intermediate
|
Medium
|
| Ensure compliance with Walmart’s guidelines for better visibility | Meeting Walmart’s guidelines can make your products more visible on i… |
Intermediate
|
Medium
|
| Etsy Promoted Listings | Etsy Promoted Listings is a great way to get your products in front o… |
Intermediate
|
Medium
|
| Identify new geographic regions for market expansion | Picking new geographic regions for expansion can increase customer re… |
Intermediate
|
Medium
|
Related Tools
| Name | Description | Pricing | Ease of Use |
|---|---|---|---|
| Shopify POS | Shopify POS is a sophisticated point-of-sale system designed to strea… |
Paid Only
|
Moderate
|
| Square | Square is a versatile marketing tool designed to streamline payment p… |
Paid Only
|
Moderate
|
| Square Online | Square Online provides businesses with an integrated e-commerce platf… |
Paid Only
from $29.00/mo
|
Moderate
|
| Square POS | Square POS is a versatile point-of-sale solution designed to streamli… |
Paid Only
|
Moderate
|
| Storefront | Storefront is a versatile marketing tool designed to enhance customer… |
Paid Only
|
Moderate
|
| Stripe | Stripe is a leading financial infrastructure platform that enables bu… |
Paid Only
|
Moderate
|
| SumUp | SumUp is a versatile mobile point-of-sale (mPOS) solution designed to… |
Paid Only
|
Moderate
|
| Teikametrics | Teikametrics is a robust marketing tool designed to optimize e-commer… |
Paid Only
|
Moderate
|
| Thumbtack for Professionals | Thumbtack for Professionals is a dynamic marketing tool designed to c… |
Paid Only
|
Moderate
|
| TikTok Shop Seller Center | TikTok Shop Seller Center is a comprehensive platform designed to emp… |
Paid Only
|
Moderate
|
Quick Facts
Channel Type:
Marketing Channel
Pros
- Wide reach due to large user base, allowing businesses to reach more potential customers.
- Trust and credibility as customers often trust established marketplaces.
- Ease of use thanks to built-in infrastructure for sales and marketing.
- Variety of tools available for analytics and marketing to optimize performance.
- Customer acquisition is generally easier on marketplaces compared to standalone websites.
- Security and fraud prevention mechanisms are generally robust.
- Mobile-friendly platforms, making it easier to reach customers on the go.
Cons
- Fees and commissions can cut into profit margins, making it less attractive for some businesses.
- High competition in most categories, which can make it hard to stand out.
- Limited customization options for branding compared to standalone websites.
- Policies and restrictions can be stringent and limiting.
- Dependence on the platform which means that any changes in the platform’s policies or algorithms can affect your business.
- Data control is limited as the marketplace holds most of the customer data.
- Advertising costs can be high, driving up overall expenses.