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Half of all eCommerce sales globally occur in marketplaces. The sheer volume of market participants challenges independent brands to also participate.
About $2 trillion is spent on the top 100 marketplaces and little by little, our top retailers are joining in. Target has launched its own marketplace. Google is trying to lure merchants away from Amazon. Even Walmart is trying to measure its current market.
One of the reasons marketplaces are popular with sellers is because it makes it easy for them to scale globally. The marketplace is also very helpful for small businesses because it allows them to fill orders more easily and more efficiently.
But many big brands refuse to sell in the market. This is because while the market drives sales, it also tends to put pressure on margins.
Despite the flaws in the market system, the market still helps new brands and merchants a lot as it is the gateway for brand discovery. However, when consumers come to a market to make a purchase, they usually don’t do it looking for a brand. Instead, they come because they are trying to find a solution to a problem.
According to analysts, search has database become brand new. So if you have good search rankings, you have a much better chance of converting your viewers into customers. With that, the brand will have a lot of competition.
We can see examples of this complexity on Amazon. 70% of Amazon searches don’t include a brand name. And 90% of product views in this marketplace result from searches and not from branded merchandise or ads.
PostScript’s Alicia Thomas believes that this sense of disconnect will entice people to have higher expectations from brands when it comes to customer experience.
try to build a sense of community. One possibility is to inspire people to participate in campaigns that encourage charity or make donations to specific groups.
One example of a brand that utilizes this kind of marketing strategy is Purpose Jewelry. Purpose Jewelry employs human trafficking survivors and artisans. And in the email campaign, they include the SparkofHope Forex Email List hashtag along with direct quotes from the artisans they work with. With that, customers will see the impact they are making on these artisans for every purchase which is sure to give them a sense of community.
Shopee Partnership With Google For a long time, Google and Shopee have provided independent advertising services – exclusive Shopee Ads for in-store promotions and Google Ads with the aim of helping businesses reach a wider audience on the web.
However due to the ongoing pandemic and visible traces of ongoing engagement within the eCommerce community, Google and Shopee have agreed to partner up to further enhance their advertising mechanisms.
One of the most remarkable aspects of Google is its algorithm which has the ability to track a customer’s unique goals. Most importantly, it can differentiate between intent and interest.
This can show your ads to people database with the highest purchase intent. Therefore, you can expect an increase in your conversion rate.
Google also has a real-time auction bidding mechanism that helps in positioning your ad at the right time and place further increasing your return on investment (ROI).
Furthermore, Google’s technology leverages sophisticated machine learning. This means being able to study how people search for and interact with content online. Using historical search, it will find out which groups are most interested in making purchases in which product categories.
Finally, Google allows you to interact (by showing your ad at the most appropriate time) with potential customers at every stage of the sales funnel.
By combining Google and Shopee mechanisms, we get Google Ads With Shopee which gives you the following:
All in all, what the Google + Shopee solution gives you is additional sales in your store with a profitable return on ad spend. Apart from that, your online presence is also enhanced to be an online shopper.
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