{"id":108725,"date":"2022-03-07T19:59:59","date_gmt":"2022-03-07T19:59:59","guid":{"rendered":"https:\/\/www-dev.channeladvisor.com\/blog\/uncategorized-au-2\/the-3-phases-of-a-winning-marketplace-strategy-for-brands\/"},"modified":"2023-11-29T10:48:06","modified_gmt":"2023-11-29T10:48:06","slug":"the-3-phases-of-a-winning-marketplace-strategy-for-brands","status":"publish","type":"post","link":"https:\/\/old.rithum.com\/au\/blog\/the-3-phases-of-a-winning-marketplace-strategy-for-brands\/","title":{"rendered":"The 3 Phases of a Winning Marketplace Strategy for Brands"},"content":{"rendered":"

Consumers continue to seek their favourite brands on marketplaces like Amazon, Walmart, Target and eBay \u2014 but these aren\u2019t the only profitable options for selling your products. Each marketplace reaches a different audience and has a different set of listing requirements. <\/span>Winning in different marketplaces<\/span><\/a> requires a three-pronged approach of:<\/span><\/p>\n

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  1. Launching successfully<\/span><\/li>\n
  2. Building a winning strategy<\/span><\/li>\n
  3. Defending your brand\u2019s position<\/span><\/li>\n<\/ol>\n

    Whether your brand is new to marketplaces or has been looking to grow its online presence for a while, these three phases will help set you up for e-commerce success.<\/span><\/p>\n

    Launch Successfully<\/b><\/h2>\n

    It\u2019s important to take the right steps to thrive in a new marketplace. From preparing your retailer network to ensuring data feeds are accurate, you must address several essential elements from the start:<\/span><\/p>\n

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    1. Register your brand. <\/b>This is the first step to ensuring consumers receive accurate information about your products. Start by enrolling in brand verification and registration programs for greater control over your listings.\u00a0<\/span><\/li>\n
    2. Address your retailer network.<\/b> Rithum makes this easy with solutions like <\/span>Where to Buy Online<\/span><\/a>, sending consumers directly from your website to preferred retailers\u2019 listings, and <\/span>Brand Analytics<\/span><\/a>, helping you manage online distribution, grow sales and protect your reputation.\u00a0<\/span><\/li>\n
    3. Meet data feed requirements.<\/b> Each marketplace has its own unique structure. To comply, it\u2019s essential to transform your data to meet the specifications of each individual destination. This includes both sending product information and receiving order data. <\/span>Rithum Product Feed Management<\/span><\/a> enables you to meet these requirements, deliver the data in a variety of formats and track the success of feed delivery.\u00a0<\/span><\/li>\n
    4. Resolve listing errors.<\/b> Consumers expect a positive experience with your brand no matter what marketplace you list on. But listing errors can cause products to appear incorrectly \u2014 or not at all. A system that flags and resolves errors will keep your listings available and visible in any fast-paced online selling environment.\u00a0<\/span><\/li>\n<\/ol>\n

      Build a Winning Strategy<\/b><\/h2>\n

      Now that you\u2019re up and running, it\u2019s time to win in the marketplace and stand out from the competition. This requires full visibility of the competition present in major channels to understand how other sellers are promoting and positioning their products. This is especially true on Amazon, where identifying small changes as they happen may make all the difference.<\/span><\/p>\n

      One of the most important factors in marketplace competition is price. Yet, it\u2019s difficult for brands to price competitively while still protecting retail networks. To help, <\/span>automated repricers<\/span><\/a> allow you to set parameters around pricing values while preventing the potential for undercutting retailer listings.\u00a0<\/span><\/p>\n

      A winning marketplace strategy also requires maximizing product visibility through advertising. Rithum\u2019s <\/span>Retail Media Services<\/span><\/a> helps connect your products with more consumers on marketplaces and retail sites with expertise from a team of e-commerce professionals. These experts provide the proper support to ensure no opportunity is missed and your campaigns are executed in a cost-efficient manner.\u00a0<\/span><\/p>\n

      Lastly, incorporating multiple fulfilment solutions into your strategy allows you to build more resilient fulfillment operations. The Rithum platform is designed for maximum flexibility, supporting a wide range of fulfillment options, including owned warehouses, Fulfillment by Amazon (FBA) and Walmart Fulfilment Services (WFS) and third-party logistics providers (3PLs).<\/span><\/p>\n

      Defend Your Position<\/b><\/h2>\n

      Once you\u2019re thriving in a marketplace, it\u2019s important to defend your position with vigilance. One of the best ways to do this is through benchmarking. This allows you to use the data you collect from online distribution channels to improve your processes, strengthen retailer connections and boost revenue. Consider monitoring categories like:<\/span><\/b><\/p>\n