Every online marketplace starts empty but what makes the difference is your ability to attract vendors on the platform. As a multi vendor marketplace owner, onboarding the quality vendors and acquiring buyers on your website are the two pillars that ensure your business growth. Simply put, a successful marketplace is nothing without vendors.
Even though a marketplace is an effortless platform to reach a diverse set of audience, convincing the seller is still a big task. Put yourself in the shoes of vendors and think, what attracts you the most to a marketplace?
The answer is right there in the question itself.
Yes, the marketplace itself attracts vendors the most. So, you offer a platform to the vendors to build their online presence. Here is a list of must-have features of ecommerce platforms that attract and sustain the best vendors possible for your online marketplace.
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Offering a simple and easy process to vendors attracts most of the vendors as it does not take their time and efforts. Make them enter into the world of online business without any hassles. Like, StoreHippo easily lets the vendors register on the marketplace website in a few clicks and allows them to start selling right away. They can simply enter their company details, address, payment details in one-go and get started.
The more time a vendor has to spend in registering themselves on a multi vendor marketplace, the more they will get annoyed. StoreHippo understands this well and for the same reason, allows the vendors to focus on their core business. We take care of everything from registering, delivering their orders, to their hassle-free online experience.
It seems to be a simple thing but it is actually the most important place where a seller spends most of its time. The individual dashboard of multi vendor website builders empowers the vendors to manage their products, orders, and sales easily and efficiently.
StoreHippo has a one-stop solution for sellers that allows them to manage everything from their panel. With this panel, the sellers can easily edit their profile, view their business portfolio, add/delete new products, see their transactions, check their total earnings, manage shipping and payments, get notifications about order placement and new transactions etc. The clear insights are highly useful for vendors to improve their multi vendor marketplace offerings in future.
The holy grail of an online store is just the same as a brick-and-mortar store. But in the ecommerce experience, products need to be managed in a very organized manner as it is the core of online business. And managing the products becomes a tedious task for many vendors.
A full-fledged product management system by StoreHippo is all that you need to make your processes faster, save time, and sell more. It helps you perfectly even if you have a broad product catalogue to sell on your multi vendor marketplace. Some of the top features include single-click product updates, reminders to restock the products, great sorting and organizing options on the basis of availability, price, sales etc.
While shipping and other product tactics are used to encourage less returns, the fact is that ecommerce returns take the wind out of the sails. We have absolutely entered an era where returns are most common, especially when we talk about online sales. This can be a daunting task to restock the returned products, initiate refunds, manage return orders, and alike.
But all the return process is as easy as pie when you have a right multi-vendor website builder in place. Whether it is a holiday season or promotional sales, there are absolutely no worries of managing the return process with StoreHippo. It automatically gets your inventory updated after every new order, return, or order cancellation.
Here comes the most important part where you earn and get profits. Well, you need not be a maths magician to calculate the hefty commission calculations. As the name indicates, there are multiple vendors on the website and it is a tough job to calculate commission on sales made by different sellers.
Setting up a flexible commission system with StoreHippo sets you free from the calculations on your multi vendor marketplace. You only need to fix the commission and tax rules once and you are all set to get an automated commission calculation on every order.
When everything is tied together, you are well-aware about everything happening in your business. The feature of unified notification systems brings together the disparate devices and systems to deliver important messages. StoreHippo offers unified notifications over web, SMS, email and mobile phone to the customers to keep them updated about their orders, refunds, payments, and more. Start leveraging the unified notifications with StoreHippo to enhance the communication on your multi vendor marketplace.
Shipping remains the backbone of an ecommerce business. A well-managed and automated logistics system on your marketplace platform can save the vendors from an endless number of shipping hassles. With StoreHippo, you can set up vendor specific shipping charges to promote the bestselling products and vendors. Moreover, the quick delivery of products, regular updates with estimated delivery time, managed returns and exchanges delivers the most amazing user experience to the multi vendor marketplace.
Payment can be directly resonated with the user satisfaction or experience. Why to limit yourself to certain payment methods, when you can offer maximum flexibility to the vendors with automated payment processes. And how about getting your order amount split automatically when the order is placed for multiple vendors? Yes, it is very much possible with a best-in-class multi vendor website builder like StoreHippo. It also offers a wide variety of secure payment gateways and automates the payments to seller and admin in the easiest ways.
After acquiring the vendors, it is the ease of management that makes them stay with you for long. We have come up with some most effective ways to attract the best vendors to your multi vendor marketplace.
Understand your value propositions and communicate the benefits. It is important to establish your core brand and value propositions as a first priority to understand which set of sellers will be the right fit.
Reach vendors on the existing platforms where the target sellers are already active. For example, online forums or Facebook groups where the individuals have similar interests.
Utilize the business listings, trade fairs, and merchant association to promote your multi vendor marketplace in an outbound manner. Find top online listings like Yellow pages, Google maps, or attend local trade fairs and vendor associations to reach the right audience.
Advertise on forums, social media, and communities as it is one of the easiest ways to reach maximum vendors. You can share promotional and informative posts on social networks to gain the traction.
Why is StoreHippo the best multi-vendor website builder for your business?
Choosing the right ecommerce software has to be the foremost priority for your online business. And we are not talking only about checking the technology advancements here but the platform should be able to deliver a complete ecommerce solution to run your B2B or B2C multi-vendor business. The easy-to-use platform offered by StoreHippo offers all the aforementioned features to attract vendors to your online marketplace and is well-built on a mobile-first approach. Along with this, the integrated shipping solution and payment gateways automates everything you need to process maximum online orders.
Check the variety of marketplace models built by StoreHippo. Don’t wait anymore to explore the state-of-the-art multi-vendor features offered by StoreHippo. Start your 14-day free trial now.