When it comes to boosting brand visibility online, selling your products across multiple channels is perhaps the most effective way.
One, it is simple math. The more platforms you are on, the higher the chances of ringing up a sale, since you can leverage the higher traffic volume to reach out to more customers.
Two, online marketplaces are increasingly becoming the preferred ecommerce platform for users across the world.
In 2016, shoppers did half of their online spending on marketplaces. This number is expected to increase to two-thirds by 2021.
This means good news for marketplace providers around the globe. Joint data from Coresight Research and Juniper Research has revealed that revenue from online marketplaces is expected to increase by more than double from USD$18.7 billion in 2017 to USD$40.1 billion by the year 2022.
But the key problem of selling on more than one platform is the hassle of starting and maintaining multiple accounts.
This makes Shoptiq’s integration with online marketplace 99%SME very enticing. As Singapore’s first ecommerce platform featuring a two-way sync with a marketplace, it enables business owners to sync product catalogues, and manage inventories and orders in real time on both platforms.
The best part is, 99%SME focuses on helping small and medium-sized enterprises (SMEs) to market online and get more customers.
Launched in 2015 by DBS and Singtel, the platform enables SMEs to showcase their products and services for free. It believes in supporting SMEs which form a key pillar of the economy – making up 99% of businesses here and employing around 65% of the workforce.
Here are three ways Shoptiq and 99%SME can boost your business online.
1. No more costly duplicate entries
A by-product of poor data management, duplicate data can severely hamper your brand’s growth.
The process of trying to sort out duplicate data is highly time consuming and complex. In fact, it might require you to conduct a major overhaul of your products and services or even schedule an indefinite downtime until the issue can be solved.
Not only will this impact your brand’s integrity and dampen customers’ confidence in your company, it can also result in huge losses.
In fact, poor data management costs organisations an average of US$20 million each year.
Shoptiq’s two-way sync with 99%SME means that any changes and updates to product catalogues are reflected in real time, thus ensuring that entries are not duplicated. Product details can be edited anytime and changes will be automatically reflected on both platforms.
This removes the inconvenience of having to upload or update your product details twice, and helps save time.
2. Up-to-date product inventory
Listing your products on multiple marketplaces doesn’t always have to mean more work when it comes to inventory management.
Thanks to real-time inventory updates, you can track and forecast product demands across all marketplaces at one stop.
The real-time inventory management and two-way sync between Shoptiq and 99%SME gives business owners more peace of mind. Each time a product is sold, the inventory is automatically reflected on both Shoptiq and 99%SME to ensure an accurate and consistent product count.
Staying on top of your company’s inventory means being able to anticipate and accommodate changing customer needs. This helps you deliver a great customer experience – an important factor in purchasing decisions.
3. Streamlined order management
Businesses may set their sights to grow, but could be held back by something as small as order management.
More often than not, businesses do not have a clear overview of their orders when selling on multiple platforms. They might overlook their best-selling products, which may cause them to miss out on key opportunities to grow their sales.
Shoptiq’s integration with 99%SME allows business owners to have a holistic view of orders received and fulfilled on both platforms. Most importantly, this allows companies to keep a closer eye on product demands and anticipate customer trends more effectively, keeping them ahead in the game.
For just $10/month, you can now integrate your Shoptiq store to 99%SME marketplace.
Improve your store’s performance and customer experience level today with Shoptiq and 99%SME. Experience it now!