Whenever a corporation or private plans to enter into the digital world to sell their products, the primary question that haunts them is whether to sell via an e-commerce marketplace like eBay, Flipkart, or Amazon or to set up their own e-commerce site.
Setting up your own website involves a better amount of initial work and investment compared with selling on a marketplace. If you would like to sell on a marketplace, all you would like to try to do is get your product listed on their site. Since these marketplaces have already got tons of customers, you don’t have to make special efforts to draw in customers. However, once you are building your own website, you would like to urge it designed, add product descriptions, also as announce launch offers to draw in traffic.
If you want to build your own site, you must have a marketing strategy to attract customers whether it be social media, pay-per-click advertising, partnerships, etc. Although a third-party site offers an initial boost you need to create a following, that will fade over time, and what you need to keep in mind is your key customers. At some stage, the requirements of your customer will extend further than a little product listing. By having your own site, you have access to everything on it, from design to products, and social links, your customer will focused on your brand.
What are the benefits of selling on a marketplace?
If you are someone who wants to expand their business and fast, selling your products through a marketplace is an option you should consider. Its benefits are endless. Selling on external marketplaces assists you in continuing to run a hustle-free business because you will not need to maintain the marketplaces’ frontend or functionalities.
Some benefits of selling your products through a marketplace:
- It’s convenient to get started and maintain
- Digital visibility
- Diverse customers
- SEO reinforcement
- Increase Visibility
- More Channels
Drawback of Marketplace
The easiest option has its drawbacks. the primary one worth mentioning may be a high level of competition. Imagine many other retailers who sell equivalent products. For that, it’s hard to predict your conversions and achieve the expected profit level. Most marketplaces charge for product listing, so you’ll get to pay some fees even before making one sale.
Also, there’s a commission for each transaction. the costs vary counting on which platform you select. Another drawback for online retailers is that you simply cannot stand out from the crowd while establishing your brand. Online marketplaces haven’t any or minimal space for the vendor profile’s personalization. So, while selling equivalent products, retailers compete for shoppers’ attention. albeit shoppers purchased your item, it doesn’t mean they’re going to become your loyal customers. the most concern here is that shoppers focus their attention on products, not on the sellers. For that, it’s impossible to develop your unique brand and build a loyal customer base. Moreover, online marketplaces don’t let merchants and shoppers communicate with each other, due to this, it’s impossible to conduct marketing campaigns and inform your customers about special offers or new stock arrivals. That way, you’ll rely only on new sales without taking advantage of past purchases.
Why should you use your own website to sell online?
Having your own website means your online presence protects your brand, you owned a channel that allows eCommerce sellers to increase profit margins and conversions.
When you sell your product through your website, the customer is buying directly from you and they know your brand. However, when they purchase from your store on the marketplace, brand your products, your brand hides behind the sale.
Some benefits of selling your products through a marketplace:
- Complete control over design, site functionality, and navigation
- You can build your own brand recognition
- You’re allowed to collect customer data for future marketing
- You don’t rely on another company for fee structure and pricing
- There is no on-site competition
- You’ll enjoy fewer sales restrictions and rules
Drawback of website
Due to its cost, only a couple of businesses can afford a custom e-commerce website development. For that, small and medium companies use SaaS or open-source platforms to make an e-commerce website. However, to develop a web store, you continue to need time and money. you furthermore may get to buy a website name and buy a secure HTTPS certificate.
After the launch of the web store, there’ll be no visitors, because your future clients are unaware of your brand. To bring traffic to your e-commerce website, improve program ranking, and make sales, you would like a comprehensive marketing plan and marketing budget.
When your online shop is up and running, you would like to supply shoppers with customer service. The reputation of your brand depends on how quickly you’ll react when something unexpected happens. it’s a true struggle for little online businesses to supply the highest-level customer service. At an equivalent time, marketplaces have customer support teams who fulfill buyer requests.
Each individual marketplace and e-commerce platform has its own unique differentiators and drawbacks, but it really depends on who is and what you’re selling. Marketplaces will make millions of visitors available to you, but you’ll also be fighting with thousands of sellers to be seen. An e-commerce website is a way to differentiate yourself, but you’ll need to put in serious effort to ramp up traffic and drive sales. Regardless of the e-commerce platforms, you sell on, it’s important for them to be integrated with the other technologies you use. When systems are connected, they can talk to one another for greater visibility and less manual processes.
Your store can earn trust in large marketplaces with huge customer bases, but once you’ve grown to a certain stage, it’s time to create your own website.
Thinking for an eCommerce site setup then OGEN Infosystem is the right choice for you.
OGEN Infosystem is one of the most trusted website designing company, offering website designing, re-designing, web development & website promotion. When it comes to technology and innovation, OGEN Infosystem provides world-class development, designing, and branding solution for growing your business and make your brand a leading player in the market. Your dream of having a successful website can come true with the help of our talented team working on website designing, digital marketing, SEO services, and Inbound marketing services.
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