Acknowledge it.
Your company does not know how to manage Amazon and is expecting shoppers to dive for a needle (AKA: Your Product) in the giant ocean of unlimited assortment.
In the world where shoppers trust the judgment of those they don’t know and where brands find it almost impossible to influence the wisdom of the crowds; brands and manufacturers are experiencing the death of e-commerce as they know it.
Millions of dollars are being invested by brands around the world trying to capture the attention of the ever so slippery consumers.
Yet as the saying goes: fishermen need to fish where the fishes are.
Typical conversion of an E-Commerce site in the US ranges from 1% to up to 8 or 9% for a polished e-retailer.
These numbers pale when compared to the conversion marketplace sellers enjoy on sites like Amazon, eBay or Walmart.com.
Same product could be converting at 0.5% on a typical e-commerce site while the same product will probably be converting at 4 to 5% on a competitive marketplace.
Driving traffic to the dying E-commerce sites is what we call “Traditional Digital Marketing”.
Capturing the attention of shoppers in marketplaces is what we call “Conversion Marketing”.
One is the past while the latter is the unbeatable reality.
What is your marketplace strategy?