According to a recent Visa Digital Transformation Research and a 2018 Maru/Matchbox survey1, any small- to medium-sized businesses (SMBs) surveyed recognize the importance of marketing, as 88 percent engage in some form of it.
However, there are opportunities to further engage customers through digital channels as a majority of consumers surveyed (63 percent) prefer to hear from businesses digitally–46 percent prefer email, 11 percent social media and 6 percent turn to company websites–making digital marketing an important channel.
Compared to small (82 percent) and medium (85 percent) businesses, fewer micro businesses (56 percent) use digital marketing. In addition to the traditional digital channels, review sites are also a great way to market and cross-promote your business online. Sixty-eight percent of consumers mention online reviews are an important consideration when determining whether to shop at SMBs.
Choose Your Marketplace
There are many marketplaces available to sell products, so picking the right one to sell on is the ﬁrst step. Think about factors such as the type of product you’re oﬀering, who your target audience is, and where they go online to shop.
Showcase Your Products
Your marketplace listings should showcase all that consumers may need to know about your product, including compelling visuals, information about your brand, and any relevant shipping considerations.
Promote Within the Marketplace
- Make sure your title and description include relevant keywords so that your listing appears in as many searches as possible.
- Encourage customer reviews. High ratings give your product and brand credibility when a new customer sees your listing.
- Interact with customers who contact you, and ask them to rate and review your product if they’ve had a great experience.
- Marketplaces oﬀer sellers ways to advertise so their products appear at the top of customer searches. Make the most of these opportunities.
Check out the Digital Transformation paper below for more ways to increase your online presence.