December 12, 2016
Emily Johns General Topics
The multi-vendor websites like Amazon are known to be a great source of income to the site owner if done right. However, for the entrepreneurs capable of executing own secret and selecting a reliable and scalable multi-vendor website has proved to be time consuming and headache. Nowadays, there are unlimited opportunities for coming up with a multi-vendor website since everything is going online.
The multi-vendor website refers to an e-commerce site that enables multiple users to sell their stuff whereas the site owner continues to enjoy commissions based on their sales. In short, the multi-vendor website is an online e-commerce marketplace. For example, the eBay.com and Amazon.com are currently the two largest marketplace websites where people all over have been generating revenues. Any person can join the multi-vendor sites free and in return, they can have a certain percentage of revenue that has been generated by the site.
It is never an easy thing to come up with a multi-vendor website like Amazon. Following are some of the things it will take you to have one:
1. You need to carry out an Extensive Research
Before you create a multi-vendor marketplace, it is necessary you carry out an analysis of your target audience and ensure you understand their needs and be able to get products that will relate with them.
Most of the Amazon shoppers are 18-44 age groups hence, when you are planning to come up with a multi-vendor marketplace, it would be appropriate if you sell products that might be of high demand to the age group in order to get a high number of sales.
2. You will have to get a suitable domain name and a Robust Server for Web Hosting
The domain name will be the address for your website. You will experience a high number of visitors only if the customers are aware of your domain name. Below are the important things you need to factor in when choosing the domain name of your multi-vendor marketplace:
⇒ Short for easy remembrance
⇒ Do not use popular domain name it could lead to trademark disputes
⇒ Ensure you use the .COM since its always recognized.
You will have to avail web-hosting services from companies such as DYN, GoDaddy Iwantmyname and much more. One of the most popular domain registrar companies is the GoDaddy since it manages approximately 59 million domain names and its one of the most popular due to its affordable pricing.
When calling to run a multi-vendor marketplace site, it is important you be cautious especially when selecting a server. Keep in mind that different visitors from different geographies will be visiting your site every now and then. Hence, the site should be robust to ensure it is capable of handling erratic traffic.
In the recent past, there has been an increase in adopting cloud-hosting services, however, before that, it is important for you to first understand the meaning of cloud hosting and its benefits. When using cloud hosting, the users are able to access the network of servers that are located at the remote locations on the internet in order to manage and store data rather than using a local server.
It is affordable: You can easily save money and space when installing the hardware servers.
Easy to setup: Setting and the cloud servers is simple and easy.
No Downtime: The cloud servers are able to automatically adapt it to be in a position to handle any amount of traffic hence, preventing downtime issues.
Easy Accessibility: The cloud servers will make it possible for you to easily access data from anywhere at any time provided you be connected to the internet.
3. Make use of the Ready-made scripts
In case you are planning to come up with a multi-vendor marketplace from the scratch, it is necessary you have extensive knowledge on the technical issues. You can always utilize the ready-made multi-vendor marketplace scripts.
⇒ The scripts will enable you to come up with a multi-vendor marketplace within hours
⇒ You can easily tweak them in terms of design and features to fill your requirements since they are customization.
⇒ The scripts are built to be clones of the top players hence they will always be available in a lot of features.
⇒ It is possible to have some extra features in the script.
⇒ The scripts are always SEO friendly thereby increasing the chances of your site being ranked higher.
Personally, I prefer choosing the ready-made scripts to come up with magneto platforms. In case you are not familiar with the Magneto, it refers to an open source eCommerce platform that will enable you to come up with an eCommerce marketplace site. Most people are known to prefer using the Magneto as an eCommerce platform. There are many Magneto extensions available online with pre-built themes. Finding Magento developers to come up with a marketplace store is much easier. However, before you purchase a multi-vendor marketplace script, it is important that you first look for customer reviews and the Magneto development company that came up with it.
4. Unveil the Multi-Vendor Market in a great style
No one will be aware of your brand when going to launch your multi-vendor website. Hence, you will have to take pains in order to be able to reach your customers. One of the most successful techniques is the online and offline marketing.
Below are some popular marketing techniques that will enable you to get more visitors
⇒ Print advertising
⇒ Television ads
⇒ Guerilla marketing
⇒ Pamphlets and signs
⇒ Radio advertising
⇒ Email marketing
⇒ Business cards
⇒ Adding Billboards
5. The Power of Content for building trust and SEO purpose
It is important to ensure that your marketplace in laced with content in your website that is important for page ranking. Provide your customers with a realistic shopping experience and content whenever they visit your site. Ensure all the items in the multi-vendor marketplace site are well explained. You can do this through making use of videos and images and textual content.
6. Maximise the Power of online marketing to increase your traffic influx
When your marketplace is loaded with vendors and products, you now have the task of getting web visitors. However, you can achieve this with the help of online marketing techniques, which are available without much investment,
The following are the ways with which the Marketing channels can be harnessed:
1. Search Engine Optimization
SEO is a result-oriented technique that is capable of bringing in great dividends. However, you will have to hire the Search Engine Optimiser who will be able to improve the ranking of your website. The optimizer will be responsible for researching keywords, analyzing the competitors and so on.
2. Social Media
The Social media has been great in promoting products. You have to get an official page for your site and ensure it is updated on a frequent basis.
3. Email Marketing
Though most people believe emails are old fashioned, approximately 70% of the online users are known to check their emails more often. Therefore, it is appropriate for you to send newsletters to your probable customers with the latest deals and new products. You will be able to impress your customers.
Major Requirements when starting a multi-vendor marketplace
The number of the plug-in will determine to host you decide to run especially if it is an eCommerce website. Your host should have the following minimum specs:
⇒ 150 GB space
⇒ 3 vCPU
⇒ 150 GB Bandwidth
⇒ 6 GB RAM
2. WordPress Theme
The themes are essential for any e-commerce Website Development. Most users will always prefer going a nice looking and pretty theme. However, you might find most of them heavy and a bit confusing during installation.
3. WordPress Plug-in
The plug-in should be chosen wisely though going premium is the best since you will be able to receive updates whenever there is scrutiny or problems relating to the WordPress plugin.
4. Mobile Web App
Using the mobile web app is the best way you can save time and money. Google will always demand a good mobile website and it will always be a must have for any website.
5. Real Time Backup
There is nothing important as keeping backups. There will always be a new product every five minutes when dealing with the multi-vendor websites and by the end of the day, you will have a lot to handle.
It is never an easy thing to come up with a multi-vendor website. It will take you a lot to have a fully functional marketplace website. The process of managing a multi-vendor store is different from managing a store having a single vendor. Although coming up with a multi-vendor store can be a great task, it can be made simpler by breaking it down into components.