Marketplaces are a great base for customers to gain access to a great selections of products at competitive prices. These benefits make it a cornerstone of long-term business growth, so ensuring you have an effective marketing plan in place is essential.
Below we will take you through what you need to know when putting a marketplace marketing plan together. Whether that is for before, during, and after the launch.
Develop a plan before launch
Before the launch of your marketplace, it is a good idea to develop an effective marketing plan for your marketplace right from the inception. This should be running in parallel to business planning and platform implementation. Your plan should include both the ways in which you would introduce your marketplace to your target audiences, as well as how to embed your products in future promotional campaigns. This is your chance to get creative in how you promote your products, services and marketplace.
You may decide to take part in an email marketing campaign, add a rotating banner on your home page, or promote the launch through paid advertising.
A coordinated campaign to bring awareness to your marketplace, including a media push, is crucial for your engagement and to build that much needed excitement for the launch.
Spread the news during the launch
Now that the launch day is officially here, now is a good time to release another announcement to let everyone know your marketplace is live. Think about the ways in which you intend to engage customers directly. For example, through the use of mobile and website banners or handing out promotional flyers with special offers to entice new clients. By putting together a well thought out marketing plan, it can help you to achieve the sales growth in the months and years following the launch.
Keep promoting your marketplace after the launch
Give your marketplace items equal weight on the site to drive sustained growth after the launch. We would recommend adding new items to regular promotions and not hiding them in a separate areas or other marketing campaigns. By adopting this approach, it carries the additional benefit of helping to drive traffic to your site, through improved search engine optimization (SEO). This can lead to an average of a 34% increase in overall website traffic.
With an expanded selection you’ll rank higher and more frequently in popular search engines like Google. This will increase as potential customers continue to browse the web. This boost in search results allows you to stay top of mind with your existing customers, while also finding new ones. Plus, since you’re helping shoppers locate and buy what they’re looking for, you’ll build brand loyalty and increase the chance they’ll come to you first the next time around.
With a comprehensive marketing plan, you’re one step closer to launching and scaling a successful enterprise marketplace.
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