According to the latest edition of the TOP 500 of Cross-Border Retail in Europe, the 26.8% of Europe’s e-commerce is cross-border. With a monthly audience of 1.4 billion willing to buy abroad to benefit from a better price or to have access to a product that is not available in their country of origin, going international is no longer an option, but a necessity. And one of the best ways to do that is to join a cross-border market.
There is a wide range of opportunities that can be exploited to dominate the markets of your choice. From prices to advertising, the mountain of steps to master is constantly growing. If you don’t climb that mountain, your competitors will. a marketplace founded in 2016 in Latvia and now available in more than 190 countries, shares with us some of the better practices that you can adopt to succeed in your international challenge and make the most of your experience on the platform.
3 successful practices to succeed in a marketplace
The content and a good structure of your listings
It’s not just what you list that matters, but how they stand structured your listings. Product titles, images, descriptions, keywords, and categories often drive consumers to purchase. The more compelling the content, the more likely it is that your product will rise to the top of search results and lead to more purchases.
The 60% of online shoppers do not place orders on platforms that are not translated into their native language. That is why in Joom, for example, they are in charge of carrying out all the translations of the countries where you are going to market your products. In addition, it offers free support in 21 languages.
marketing
If there is a great challenge that all e-commerce companies have faced, this is definitely it. Standing out in the markets is usually an uphill battle, until you manage to develop a good marketing strategy that helps you stand out.
Joom also makes your way easier, in this practice. First, thanks to strong partnerships and experience in ML-based solutions (machine learning)the Joom team managed to find advertising solutions optimal that help win new customers Y encourage users to return regularly to the app to buy.
The marketplace organizes monthly, weekly and daily discounts for customers around the world and strives to help them find quality products at good prices and make their shopping experience pleasant and entertaining. In 2021, Joom organized about 750 rebates different and introduced a new format of promotional activities: rebates dedicated to special commercial origin. It turned out to be the best way to present this assortment to customers, leading to a up to 6x increase in Gross Merchandise Volume (GMV) or gross volume of merchandise.
In addition, the platform hosts many regular omnichannel supported sales and events, such as the famous 11/11 sale, which resulted in a 102% increase in GMV and a 74% increase in conversions last year.
Customer loyalty
The way you interact with consumers will have a direct impact on sales and loyalty. Around the 54% of consumers will stop dealing with a seller if they have a bad customer experience.
Generally speaking, your main focus should be on maintain positive reviews and ratings everywhere you sell. The seller reviews of other consumers influence the purchase decisions of the 95% of buyers. Therefore, the way you satisfy the needs of one consumer can influence the purchase decisions of almost a hundred others. The trust you build in the process will go a long way in connecting with customers across multiple channels.
influencer program
In this context, the Program offered by Joom could be especially interesting. Sellers on the platform can choose which products they would like to promote and which influencers they would like to do it for them. This allows brands to have real opinions that allow customers to make decisions. Research shows that the first influencer review increases conversion by 187% vs. 28% for a normal user review.
Also, Joom users can buy any product directly from the review without ever leaving the platform. Everything from the same place. It is an option that no other European marketplace has.
In short, a marketplace is a good opportunity to expand your online presence and improve your performance, both internationally and in your own country. However, standing out is a common challenge for brands and marketers. Following these tips will allow you to attract more customers, streamline operations, and ultimately increase sales.
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