Picture this: You are steering through the ever-changing seas of ecommerce and you have established an enterprise business with a loyal customer base.
You, however, struggle to gain traction.
Now what’s the solution?
Well, with your knack for innovation, you can catapult your business to new heights - by building your white label marketplace website.
It's not just a marketplace, it's your marketplace - a digital haven for your customers!
So why settle for the sidelines when you can take center stage?
Not convinced? Still have wavered thoughts about launching your white label online marketplace?
Fret not, StoreHippo brings 7 reasons why you should!
But first, let us look at a few figures suggesting the growth in online marketplaces:
- $8.7 trillion is the expected sales on multivendor marketplaces by 2025
- 48% of buyers prefer going straight to a marketplace website when shopping online
- 75% of frequent online buyers wish their favorite retailers had marketplaces
- 94% of B2B buyers use online marketplaces to source products/services
Source: Digital Commerce 360
The message is clear. As you plan to create a white label marketplace website for your enterprise business, you open up the gate to countless opportunities. You can partner with other businesses to expand your reach and revenue streams and foster customer loyalty by providing a seamless shopping experience. Apart from increased conversions, and heightened brand identity, the potential ROI of creating a white label marketplace is undeniable.
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7 Reasons why you should build your white label marketplace
You can enjoy a multitude of benefits by building a white label marketplace for your enterprise business. A white label marketplace helps enterprises leverage their existing infrastructure and expertise to create a customized platform that meets the specific needs of their target audience.
Let us go over the top 7 benefits of launching your white label marketplace:
Competitive Advantage with Brand Consistency
A white label marketplace website helps you maintain a consistent brand image across multiple touchpoints. Wonder how? With the ease of customizations, you can maintain all aspects of your branding on all platforms, like your logo and the color scheme of your brand. You can seamlessly reinforce the brand identity by offering a similar user interface and strengthen your brand recall. When your customers encounter similar branding elements on multiple platforms, it becomes easy for them to remember and recognize your brand. Brand consistency achieved by launching a white label marketplace helps your brand gain a competitive advantage and foster trust in your customers’ minds.
Build Tailored Ecosystem
A white label online marketplace is loved by customers all around. The one major aspect contributing to its immense growth in recent years has been its agility to build tailored ecommerce solutions. You can build a tailored marketplace by tweaking the front end and the back end of your white label marketplace software. You can integrate with your preferred software and service providers to build innovative solutions tailored to the unique needs of your customers.
Enhanced User Experience
90% of users stop using an app due to poor performance. You wouldn’t want that to happen to your marketplace, right? Well, brands need flexibility with branding and designing to be able to create an enhanced user experience for the target audience. Building a white label marketplace website for your brand helps you create a seamless and intuitive experience for your customers. You can offer features like an advanced search option, easy navigation, seamless checkouts, etc to boost engagement on your marketplace and improve your retention rates. A white label marketplace helps you prioritize customers' user experience while designing the marketplace.
Scalability
The significant advantage of launching your white label marketplace is that it allows your brand to scale easily. White label solutions come with built-in scalability that can accommodate growth without having to make significant infrastructure investments. White label marketplace software helps brands grow to millions of users and thousands of products without disrupting the site performance. Brands can seamlessly expand into new markets and regions, and cater to different geographies without any technical challenges. A scalable solution helps brands remain responsive and accessible even when there’s a traffic surge.
Focus on Business Growth
Well, it can be time-consuming to build a marketplace from scratch. However, when you opt for a white label marketplace software to build your website, you can effortlessly launch your marketplace without being concerned about the technical heavy lifting. Automatically, this frees time to focus on your growth and expansion.
When you have the bandwidth to focus on your business, you can plan expansion and capture new markets that were unexplored up until now. With the right white label solutions at hand, you can also diversify to new product lines that will also help you attract new customer base. You can also build new partnerships, collabs, or venture new business models to keep up with the dynamic ecommerce landscape. With a white label marketplace software you can build a solid brand presence across markets and business verticals.
Build Trust Among Vendors
To grow and expand in the ecommerce sector, you need to offer a vast catalog to your customers to choose from. The best way to expand your product range is by onboarding multiple vendors from various product lines and various geographies. Building a white label SaaS marketplace can help you build trust among vendors. Wonder how?
Well, white label solutions have proven to be an all-rounder software solution that not only helps in business strategies, but also comes with a technological acumen that can offer versatile and secure solutions to your vendors for seamless business operations. The established platform reputation through whitelabelling instills confidence among vendors about the platform.
Flexibility to Add Multiple Revenue Sources
When you build a white label marketplace website for your enterprise business, you can easily add multiple revenue streams. A tailored marketplace solution gives you the flexibility to implement different strategies like adding premium vendor and customer memberships, offering paid advertising to vendors on your home page, collaborating with payment and logistics providers as they consider your marketplace as a premium brand, etc. you can seamlessly move ahead with these revenue sources as you have a custom white label marketplace solution at your disposal.
Using a white label marketplace software is the best way to build a brand’s presence as it offers inherent flexibility, scalability, and security needed for modern, high-volume, fast-growing businesses.
How to build a white label marketplace for your enterprise brand
StoreHippo offers a smooth process to help businesses launch their white label marketplace in record time. Here is a step-wise guide to building a white label online marketplace with StoreHippo:
Step 1: Signing up
You can connect with a white label expert at StoreHippo for a free demo and explore the enterprise-grade features. You can also opt for a 14-day free trial and create an online store before customizing your platform with StoreHippo.
Step 2: Choose your plan
Depending upon your needs and requirements, you can choose enterprise or platinum plans from StoreHippo. Once you pay for the subscription, you can start building your white label SaaS marketplace solution.
Step 3: Customize branding and design
With StoreHippo’s design tools and features, you can seamlessly customize and rebrand your marketplace. You can play around with the logo, color schemes, layout, product placements etc.
Step 4: Configuring products
Once your account is set and you have designed the marketplace, you can set different product categories based on the marketplace features. You can also add sample products and services for the testing phase to begin.
Step 5: Onboarding vendors
Onboarding vendors on your white label marketplace software needs careful and strategic planning. As brands upload their catalouge, they can set up separate vendor dashboards and seller pages on their whitelabel marketplace.
Step 6: Set commission and payouts
Managing the commission and payouts of different vendors and admin can be a challenging task. With StoreHippo, you can seamlessly set up percentages, category, or rule-based commissions. The built-in adaptive payments feature helps you seamlessly set up payout models.
Step 7: Optimize for SEO
With StoreHippo’s built-in SEO tools, you can optimize the product listings and rank higher on SERPs. You can set up different meta tags, descriptions, and friendly URLs for different pages and gain better visibility.
Step 8: Secure your marketplace
StoreHippo comes with built-in multi-level security features to make your white label marketplace website secure. You can use built-in authentication and authorization features at multiple levels to ensure secure logins, data usage, and deliveries.
Step 9: Marketplace the white label marketplace
You can implement marketing strategies using the built-in marketing tools from StoreHippo to reach a wider audience and market your brand. With the powerful discount engine, you can offer multi-level discounts to your customers.
Step 10: Integrate payment and shipping solutions
300+ API endpoints from StoreHippo help you seamlessly integrate with your business’ existing ERP, accounting, or any other software easily. You can also choose from StoreHippo’s 60+ payment gateways and digital payment options for a frictionless payment process on your white label marketplace website. You can also streamline delivery with 30+ pre-integrated delivery partners or use the built-in delivery boy management solutions to create a seamless supply chain.
Conclusion
You can harness the innovative white label solutions to swiftly expand your business offerings, brand visibility, and forge stronger relationships with your customers. Adapt to the evolving market trends and stay ahead in today's fiercely competitive landscape by launching your white label marketplace website.
StoreHippo’s advanced white-label marketplace software provides 300+ built-in enterprise-grade features and supports a variety of business models (B2B, B2C, D2C, B2B2C, Hyperlocal commerce etc.) You can build your marketplace right from conceptualization to customization, branding, and launching in a streamlined process with StoreHippo.
Well, the stage is set - are you ready to take the spotlight? Explore the user-friendly features from StoreHippo by starting your 14-day free trial now.
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