Unhappy with the limited attention your product is getting?
You can have a better product and still sell less than your competitor. It happens often in the aggressive world of online shopping. Why? You’re limiting yourself to selling through one channel.
To make more sales, you should get as many people to see your product. This is where cross-listing comes in as a big game changer. We know it may seem like too much work to sell on multiple platforms, but we’re here to show you just achieve this and unlock your success.
How Crosslisting Can Boost Your Revenue
Simultaneously selling the same product on different platforms boosts your profits by significantly increasing sales. Here’s how:
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Increased visibility through wider reach
There are higher chances of a sale with more people looking at your product.
On multiple platforms, you can achieve greater exposure for your product due to the different target audiences. Let’s say you’re cross-listing from Etsy to Facebook Marketplace. The dual exposure, means you benefit the niche-focused customer base on Etsy and the number of casual shoppers on Facebook.
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Diverse revenue streams
Relying on a single income stream is a risky move for your business.
Platforms are constantly changing and updating their policies and algorithms. Your business could take a big hit if the changes slow down your sales. But with cross-listing, you have multiple sources of income to rely on to help stabilize your income.
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Competitive advantage
In the crowded e-commerce market, standing out is difficult.
Cross-listing solves this by improving your brand credibility through increased exposure. Customers trust and identify with your brand more when they find your products on different platforms. That gives you loyal customers and a competitive edge across all platforms.
Overcoming Crosslisting Challenges You May Face
Although cross-listing has its benefits it also comes with its fair share of challenges. The following are some of the major challenges you might face and the best solutions:
Time management
Selling on multiple platforms is a difficult task if you’re doing everything manually and alone. You burn out faster trying to manage your inventory, order processing, and other tasks all at once.
➔ Solution: To avoid this, use automation tools to automate repetitive administrative tasks. This frees up your time to focus and prioritize the tasks like optimizing your listings, that have the most impact on your sales.
Pricing strategy
Some platforms have varying pricing policies and fee structures. So, coming up with consistent pricing for all the platforms can be tricky.
➔ Solution: Familiarize yourself with each platform’s fee structure to come up with a pricing strategy that accounts for these differences and still makes a profit. Regularly review your pricing based on performance analysis and updates to make changes where needed.
Customer service
When cross-listing it is crucial to provide consistent customer support on all platforms. But how do you promptly and efficiently respond to all of your customers’ inquiries?
➔ Solution: Consider using template responses for common inquiries to save time. You can also use a good customer response management system to synchronize all platforms and maintain a uniform high-quality service.
Optimize Your Crosslisting Strategy
You need an optimized cross-listing strategy to fully enjoy its benefits in your business. For the best strategy, here are a few considerations to keep in mind:
Inventory management
Overselling is quite common when selling on multiple platforms.
It is important to always know your stock level to avoid disappointing your clients or even losing their trust. Have a reliable inventory management system in place that syncs your inventory across all platforms. It should automatically update our stock level on all platforms every time a sale is made.
Optimize your listings for all platforms
You should tailor your listing to meet each platform’s requirements to stand out.
A general way of optimizing your listing for any platform is by using the best image quality, catchy listing titles, and keyword-rich descriptions. But also adjust your tone, language, and approach to each platform’s unique customer base to connect better with your potential buyers.
Use a good cross-listing app
You don’t have to be overwhelmed by the hectic work of managing multiple listings. Several cross-listing apps can help streamline the process.
A good cross-listing app synchronizes all platforms so you can manage and update your listings simultaneously from one dashboard. It also automates repetitive tasks and helps you reduce errors and save time.
Crosslisting is the Future of E-commerce
Cross-listing is a long-term approach that will help your business thrive in a rapidly changing market.
As technology advances, there are more AI-driven platforms and integrated systems coming up to streamline the process of selling on multiple online platforms. You need to stay updated and continually adjust your strategy to match these latest trends and grow your business.
