Merchants that implement multichannel strategies increase consumer reach, nurture consumer relationships and maximize sales revenue.
What is Multichannel Selling?
Multi-channel Selling consists of selling merchandise on multiple sales channels. Most merchants begin their journey into eCommerce selling from one channel, typically a website or individual marketplace. However, with consumers passing through many touchpoints and pathways to purchase, retailers need to expand their reach in order to grow sales!
Multi-channel Selling is all about moving past singular sales channels and venturing into marketplaces like Amazon, eBay, Walmart, social media, etc. Merchants who embark on and implement diverse selling strategies will realize continued, long-term success by maximizing sales reach and effectiveness.
Why Should Merchants Consider Multi-Channel Marketing, what are the benefits?
- Increase sales revenue by up to 3.5%.
- Purchase across more channels.
- Shop more frequently.
- Are more loyal and have a higher retention rate.
How can Multichannel Selling Enhance Growth Opportunity for your Business?
- Multichannel selling can insulate your brand against unforeseen ups and downs when compared to single-focused sales channels, translating to less revenue loss when unexpected market changes occur.
- When selling on multiple channels the likelihood of being edged out by your competition is greatly reduced.
- Multiple sales channels provide deeper insights into products and categories that may be underserved across other channels.
What are the challenges of Multichannel Selling?
- Increased volume of work and complexity monitoring sales performance and product catalogs across multiple channels.
- Increased complexity defining overall performance and sales margins.
- Multiple policies and procedure to adhere to across marketplaces as each platform has different rules and guidelines.
How can Multichannel Selling Software streamline your business processes?
- Easily list and sell your products on multiple sales channels.
- Manage multiple price rules for the same products(s) across multiple channels.
- Control and sync inventory effortlessly.
- Manage and fulfill orders across multiple platforms.
- Generate streamlined, multichannel reports.