The Ideal Online Marketplace
Boost Your Brand Image With Marketplace Development
What is Online Marketplace Development?
Your brand promotion is incomplete without online marketing. The best way to do it is to establish your online brand portfolio.
How do you do it? By setting up an online market for selling your products and services. Following the B2C model and developing an e-commerce store will help expand your business. You can also opt for a third-party platform to promote and sell your products.
So, how can you position your brand effectively in front of customers and wholesalers? With the right online marketplace development strategies, of course!
The Ideal Online Marketplace
The online marketplace development practices need to match your business requirements. These strategies include a user-friendly platform, simple product selection, and excellent payment systems. The platform also has to be secure, fast loading, and scalable.
That’s why our experts at Laxla help you establish the perfect marketplace for your business!
You can avail of our services for a completely scalable, flexible, and convenient online store to grow your business.
Still curious about where to begin? Check out the details below.
Why Do You Need to Develop Your E-Store?
Having a physical outlet for selling your products isn’t enough to stay ahead of the game. You need a stellar e-store to increase your sales and highlight your products. This store will act as a marketplace and promotional platform for boosting your brand.
Be it a seasoned seller or a newcomer, an e-store help you make your mark in the industry quickly.
Boost Your Brand Image and Revenue with a High-Quality E-Store
Setting up your e-store is the perfect way to establish your company online and attract customers. The online store will provide you with outstanding benefits.
|Grow Your Business
Promote your products to the target customers quickly through the e-store. Scale your business rapidly and begin positioning your brand in the market.
|Expand The Market
Expand your business through your online store conveniently. Explore wider markets and access multiple business opportunities to grow.
You can position your products/services and optimize user experience and functionalities via the e-store. It will elevate your brand in no time!
|Increase Your Business Income
Sell your products globally through the online store and increase your revenue. Build a loyal customer base and improve your brand awareness.
|Omni-channel experience opportunities
Market your products across multiple channels and reach customers across the globe. The store can offer the ideal cross-border marketing solutions.
How to Develop Your E-Store?
Before you develop your online store, analyze your business first. Determine your primary products, your brand voice, and your unique identity. Follow these tips to build your platform:
- Identify your target customers and their preferred products
- Conduct competitor research and ways to improve your products
- Determine your ideal market
- Audit product/service details such as name, quantity, category, costs, and SKU
- Include convenient payment options
How Important Is a Product Audit?
A comprehensive product audit will help you understand a reasonable selling price. You can compare this price with your competitors to determine your profit margin.
Suppose you have a local marketplace and want to export products overseas. Consider the following auditing steps:
- Determine competitor price, market rate, promotion, and product rating
- Check product status and whether it’s prohibited
- List products by category, selling price, profit margin, quantity, SKU, and cost
You can understand the appropriate product positioning strategies by figuring out these details. The table below demonstrates how you can compare products for auditing conveniently:
|No.||Product Name||Category||Quantity||SKU||Cost (SGD)||Selling Price (SGD)||Profit Margin||Positioning|
|1||Smartphone earplugs||Mobile Accessories||3||440CK-02TC-08||$6.80||$15.00||55%||High Demand|
|2||Smartphone chargers||Mobile Accessories||3||440CK-02TC-09||$9.13||$16.00||43%||High Demand|
E-Commerce Roles and Training to Automate the Process
MIBC applications offer an all-in-one E-Commerce solution that has a proven record of saving time and effort in back-office operations.
These applications are much easier to learn and manage in contrast to integrations with SaaS tools. We help your business plan and design roles based on skill and responsibility.
Glance over the key features of our E-Commerce website!