Multichannel marketing is the process of leveraging sales by marketing at different platforms available in the marketplace. It is a widespread practice in ecommerce retailing. Nowadays, bigger ecommerce retailers are allowing external smaller vendors to use their platform. Smaller ecommerce stores upload their product information and start selling. Popular ecommerce stores like Amazon, eBay, etc. are already a brand with huge online visitors. Such bigger brands will market the uploaded products and vendors just need to serve the orders placed. It looks very lucrative, vendors are selling without actually spending on marketing. Such retail platforms charge the vendors some percentage on the revenue generated. Still, vendors make good profits.
Let’s imagine there is a gift shop in the area. Options are very limited to increase sales. And, whatever options are there, attracts some kind of time and effort. Please note the shopkeeper might not have an ecommerce website even. Only nearby passing buyers can purchase a product from such a store. In whatever way they think to market their products will attract hefty investment which doesn’t guarantee sales. Even if they possess an ecommerce website then also marketing costs are involved to generate sales. Without them, it is difficult to cross a level of revenue generation. The multichannel marketing concept is the solution for such ecommerce stores. Where the store owners will have to pay after sales made, no upfront investment is there. It’s a win-win situation for them.
A trend has been noticed in online shopping, buyers jump to many platforms and then make a final buy. How good it will be for ecommerce website owners if on whichever platform the buyer goes, they find their products. The high probability will be there to buy such products. Ecommerce store owners already spend in marketing but with a limitation. Popular brands possess a thick marketing budget and also buyers have started trusting them more. If a product is listed on such a platform and also on your Ecommerce website then it is likely, more orders will be placed through such channels. Yes, this is the fact. It is because of their higher market reach. These platforms generate extra sales revenue for the Ecommerce business.
These channels may not be suitable for ecommerce companies who are looking for their brand equity. Those vendors do not like to use someone else’s brand for their product selling. Also, such vendors are capable to make themselves stand on their own feet. They possess a high marketing budget to penetrate the market.
As per the forecast, by 2020 ecommerce market is going to be of US $700 Billion. Small and medium scale ecommerce store owners require a competitive edge over others. Multichannel marketing can’t be ignored in any way to remain relevant in the market. In the contemporary world, there are better options available. There are do-it-yourself ecommerce builders by using which ecommerce web and mobile stores can be achieved. Such ecommerce platforms, like Builderfly.com, charge a small percentage of revenue generated. They also provide a facility to upload the products on multichannel marketing platforms like Amazon etc. With almost no cost or very little cost, the store owner’s purpose can be fulfilled without any hassle.