5 key challenges you will face while running an Online Service Marketplace

It has involved me in eCommerce since 2010 and I can say, it has changed A lot.

Back in the day, you can sell just about anything and make money. The competition was minimal, technology wasn’t as affordable as it is now and access to products was limited.

Now, Amazon is a major competitor to everyone. China is opening up to the world and technology is now affordable price.

Here are the top 5 most common challenges faced by eCommerce businesses while running an online service marketplace

1. Finding the right products to sell

Amazon is taking over the eCommerce world with its massive online product catalog. Their marketplace and fulfillment services have allowed sellers from all over the world to easily reach paying customers.

Let’s not forget about Aliexpress. They’ve simplified product sourcing by giving access to Chinese industrialists within two clicks.

2. Attracting the perfect customer

Online shoppers don’t shop the same way as they used to back in the day. They use Amazon, Flipkart to search for products (not just Google). They ask for recommendations on Social Media Platforms. They use their smartphones to read product reviews, quality products while in-store and pay for purchases using all sorts of payment methods.

It has changed lots including the way they consume content and communicates online. They get easily distracted by technology and social media platforms.

3. Generating targeted traffic

Digital marketing channels are evolving. Retailers can no longer rely on one type of channel to drive traffic to their online market store.

They must grasp SEO, PPC, email, social, display ads, retargeting, phone, shopping engines, and affiliates to help drive qualified traffic to their online store. They must be visible where their audience is paying attention or not.

4. Capturing quality leads

The money is in the list. Building an email subscriber list is key for long term success for the online market stores. Not only will help you communicate your message, but it will also allow you to prospect better using tools such as Facebook Custom Audiences, insights tool.

Not all leads are created equally. Retailers must pursuit the right message for the right audience to convert them into new leads hoping to turn them into customers.

5. Converting shoppers into paying customers

Driving quality traffic and take care of leads is key if you want to close the sale. At a certain point, you need to convert those leads to pay for your marketing campaign services.

Retailers must optimize their efforts to transfigure both website visitors and email leads into customers. Conversion optimization is a continuous process.

Well, If you want to start a service marketplace under a specific niche, you must contact Hashstudioz, As they have successfully developed many marketplaces that are thriving today.
You may also reach them out via info@hashstudioz.com