Selecting a Multi-Vendor for Your eCommerce Brand

eCommerce Solutions

With the rising demand for international expansion in the business world today, eCommerce is a perfect way to make sure that you aren't left behind. With eCommerce, there are many things involved, so you should focus on what works best for your business. One solution is a multivendor eCommerce platform.

What's Multi-Vendor, and How Can It Help Businesses?

Multi-vendor is an eCommerce marketplace platform or an online store that allows multiple sellers or vendors to sell their products on its platform. For sellers starting out in the eCommerce industry, an eCommerce multi-store platform could significantly see them through the tough eCommerce market.

Besides being cost-effective, sellers no longer have to worry about things such as packaging and shipping—it can be done for you by the platform administrator. In addition, customers get the chance to buy from a variety of sellers or brands, increasing their options for products as well.

Below are key features when you create a multi-vendor website:

• Three entities are involved—the administrator (a.k.a. the admin; manages and usually owns the platform), the vendor (seller and/or manufacturer), and the customer (a.k.a. the buyer, consumer, or client).
• The administrator of the store receives a commission from sellers on every sale they make.
• Vendors can upload their products and the administrator has the right to approve or disapprove the vendor's uploads.
• The vendors or the admin can provide shipping options.
• Vendors must register with the admin in order to sell on the platform.
• Sellers can personalize their stores within the platform.
• Customers buy products from the various sellers on the platform.

When considering the capabilities needed for a multi-vendor eCommerce platform, these are some major features of a great multivendor marketplace platform.

Proper Communication Across All Parties

An eCommerce business can't thrive without proper communication. How you communicate your ideas across various entities has a significant impact on your business's sales and profitability.

The right platform provider must establish a clear and flexible communication channel with clients. This may include implementing live chat support, social CRM, ratings & review system, follow-up emails, FAQ section, and contact page, among others.

Proper Communication Across All Parties

An eCommerce business can't thrive without proper communication. How you communicate your ideas across various entities has a significant impact on your business's sales and profitability.

The right platform provider must establish a clear and flexible communication channel with clients. This may include implementing live chat support, social CRM, ratings & review system, follow-up emails, FAQ section, and contact page, among others.

Experience with Businesses in Your Industry

In the business world, years of experience means higher quality and more efficient services. The right provider should have full control over the platform and ensure proper inventory management, among other essential tasks. These features help to improve the overall shopping experience of the customer.

SEO Friendliness

With every other business turning to eCommerce, survival of the fittest is the real deal in this industry. In this regard, the right platform provider or developer shouldn't compromise on search engine visibility. To rank high in search engines, the provider must use user-friendly keywords & URLs, sitemap, and meta tags, among other important features.

Flexible Yet Committed

A good platform provider will be flexible with platform management decisions. The provider must also be committed and make reasonable promises and actually implement them.

Reasonable Pricing

Pricing is another crucial factor in the eCommerce industry. While you must balance between debts and profits, setting reasonable prices for your products means more sales and overall profitability. On the other hand, high prices mean decreased sales and fewer profits.

Quality Products

Quality products mean more sales and customer satisfaction. If customers aren't satisfied with what you're offering, you will certainly lose them. Quality products lead to more conversations and customer retention.

Proper Shipping and Timely Delivery

Even with reasonable pricing and quality products, the right vendor must focus on proper packaging, shipping, and delivery. A vendor risks losing customers over simple issues that can actually be avoided (improper packaging or late delivery).

Powerful Customer Support

Excellent customer service is another crucial ingredient for a successful eCommerce business. Your clients should be able to reach you in case they have any concerns or questions. A good platform provider should have a 24/7 customer support system and respond to customers within 24 hours. You will notice that the larger the platform, the more the concerns.

Proper Reporting System

An extensive reporting system will keep you informed about sales, traffic, conversion, registrations, and inventory, among other vital metrics. Staying up to date with such information will help you to stay focused and formulate better business strategies.

Mobile Readiness

For a seamless shopping experience, a vendor must make sure that their website is mobile-friendly. Much of the traffic in the online store comes from mobile devices—it's therefore critical for a vendor to focus on a mobile-compatible system.

Additional Resources for eCommerce

• Clarity eCommerce Framework™
• Key Marketplace Considerations
• Clarity Connect™
• Key Considerations for Your eAuction Platform