Tophatter Seller BLOG

Welcome to your #1 Source for eCommerce Success!

All Posts

How to Successfully Scale Your Online Business Beyond One Marketplace

If your eCommerce sales are flat-lining and you're looking for new ways to grow your market reach, try exploring a few strategies that will scale your online business across new eCommerce platforms. It will be easier for consumers to find your brand online, and you will reach a wider audience of buyers.

However, you don't want to kick off a brand new business plan without a sound and reasoned scaling strategy that minimizes risks. Here's a brief step-by-step guide to successfully scale your online business with several effective considerations on how to expand your business beyond one eCommerce marketplace.

 

Step One: Research New eCommerce Marketplaces

Searching for alternative eCommerce marketplaces that are appropriate channels for your product is the first step. Starting here builds a strong foundation for a healthy omni-channel eCommerce solution that will broaden your reach and drive sales with your targeted consumer. With eCommerce sites evolving to include a growing suite of software and tools to help merchants be more productive, and by streamlining shipping and automating many manual tasks, selling on multiple marketplaces has never been more convenient for sellers like you.

If you've achieved success on Amazon or eBay, you're already well-equipped to see how activating another eCommerce marketplace can boost your sales. Here are some eCommerce marketplaces that you might want to investigate:

  • Tophatter
  • Amazon
  • Walmart
  • eBay
  • Jet
  • Newegg
  • Rakuten
  • Cratejoy

When researching these platforms, be sure to read the Terms of Service. You want to ensure that everything - from your product listings to your branded packaging - comply with the website's rules. Research each of these sites to understand what makes each site distinct, and which products tend to sell well on which platform.

Every eCommerce site has different types of promotional features, seller fees, and customers. For example, Tophatter offers a unique auction-type platform powered by artificial intelligence.The better you understand what you're getting into, the better you can evaluate which new marketplaces are right for your online business.

Check out any seller forums, FAQs, or blogs on the platform to better understand how each platform incentivizes its offering to sellers and optimizes its functionality in response to seller concerns.

 

Step Two: Research eCommerce Marketplaces Overseas

If you're currently focusing on domestic markets, consider going global by selling on eCommerce marketplaces that are popular in different areas of the world. Identify the regions in which your products are wanted and open seller accounts with corresponding online marketplaces.

This map shows which eCommerce sites are popular in different areas:

scalebeyondonemap

 

Step Three: Use Tools to Automate Your Processes

To scale your business beyond one eCommerce marketplace, you'll need to make sure that you're using the right tools. You want to find tools that consolidate and automate the most time-consuming and mundane tasks in your workflow. This way, you can effectively add one, two, or even three new eCommerce channels to your marketplace mix while experiencing minimal shifts in your day-to-day responsibilities.

After all, your time is important. Your focus still needs to be spent primarily on making the strategic decisions that are going to improve sales and diversify your market reach.

If you've been able to grow your business significantly on one marketplace, you're likely already working with different software and platforms that streamline your accounting, shipping, etc. However, it's always a good idea to keep your options open and search for platforms that offer great merchant support, offer sophisticated all-in-one solutions, and - most importantly - have the ability to integrate with the other eCommerce platforms you're already using, and offer sophisticated all-in-one solutions.

Take a look at some of these eCommerce tools:

  • For accounting software, check out HubSpot's guide to small business accounting software
  • For a list of project management tools to help you and your team stay organized, check out Creative Boom's list
  • When it comes to order fulfillment and shipping, check out ShipStation - a shipping tool that makes the process efficient and seamless for merchants, particularly ones who are looking to activate multiple channels. If you're interested in selling on Tophatter, you can easily connect your store to ShipStation by following this guide.

 

Step Four: Adjust Your Product Presentation Strategy for New Markets

If your sales are flat-lining, you may have saturated your target market. It's time to consider whether you can attract different kinds of customers with the same products.

Let's say you successfully marketed your beauty products to 20-something women on Amazon. Can you adapt your strategy to appeal to 30-somethings on the platform? Perhaps you'll write new copy, take new photos, and highlight different features of your products to attract a different segment of customers.

Of course, scaling into a new eCommerce marketplace is another way to attract new customers. Review the product listings on the eCommerce platforms you're interested in to determine what you need to change about your product presentations so they'll fit in with the new platform. What works on eBay might not work on Tophatter, and changing your presentations to match the new platform could be appropriate.

 

Step Five: Broaden Your Product Offerings and Change Your Prices for New Marketplaces

When you expand your selling activities to new eCommerce marketplaces, consider whether broadening your product offerings would be appropriate. Different marketplaces could support the sale of new items, and diversifying your portfolio is an excellent way to attract new customers and build sales.

Additionally, try experimenting with new prices on the new platform. After reviewing the prices of other items on the platform, you might find that a higher or lower price is a better fit.

 

Step Six: Try Tophatter and Scale Your Online Business with AI Technology

When reviewing your eCommerce marketplace options, don't forget to consider Tophatter as an excellent way to expand your existing customer base.

Tophatter is a new kind of eCommerce platform that uses AI technology to custom-tailor shopping experiences for individual users. We also make shopping fun by "gamifying" the shopping experience and introducing users to new products that our advanced software intuits they need.

If you're ready to scale your online business beyond one marketplace, set up a Tophatter seller account today

 

Jeremy Hillpot's background in consumer-investor fraud litigation provides a unique perspective on a vast array of topics including eCommerce, website tech, investments, startups, cryptocurrencies and the law.

 

Related Posts

Tophatter India Goes Fully Distributed

Offering Distributed Work Opportunities for Engineers Across the Country One year ago, Tophatter opened it's second engineering-focused office in Bangalore India. After a year of building the team and refining how Tophatter works across global offices, the company is closing the Bangalore office in order to expand across the country. While Bangalore is known as India's tech-hub, there are qualified engineers throughout the country. To scale our team in India, a distributed work strategy will open opportunities to a much larger pool of talent.

How to Secure Profits with Name Your Price

  Name Your Price is Tophatter's brand new campaign option for eCommerce sellers! Lux Decor was successful with our new NYP campaigns and practically doubled their online profits over the past five months.

How to Use the Tophatter Product Upload CSV

Have you checked out all the Seller Tools & Features in your account yet? Tophatter provides a suite of free tools & features to set eCommerce sellers up for success.