5 Mistakes Sellers Make When Selling Products on a Marketplace

There are many hats entrepreneurs need to wear every single day to ensure that their business is successful. Product development, marketing, safety, quality, legal, accounting, and the list goes on and on. Because of the numerous perspectives that have to be thought through every single day, there are many e-commerce practices that may be overlooked. While they may seem insignificant in the grand scale of things, these neglected practices may be costing you loyalty and conversion. Here are 5 key areas that are often overlooked by sellers:

1. Poor Product Descriptions: One common mistake is failing to provide detailed and accurate product descriptions. Incomplete or vague information can confuse potential customers and reduce the likelihood of a purchase. High-quality descriptions that clearly outline features, benefits, and specifications are crucial. Almost 80 percent of people will not make repeat purchases if the product they end up purchasing does not match the product description. Having higher quality descriptions will not only lead to a higher immediate conversion, but can lead to lasting relationships with loyal customers. Yes, having one-time purchases is something to be celebrated, but don't miss out on referrals and repeat customers simply because the production description didn't properly outline the product being sold. Here are two different product description examples. One that is very vague and lacks complete information, and the other gives clear and in-depth descriptors.
   
   Example 1: “This shirt is great! Its fabric is soft. Buy it now and you won't regret it.”
   
   Example 2: "Stay cool and comfortable all day long with our breathable, moisture-wicking cotton t-shirt. Perfect for any outdoor activity or casual wear, this shirt features a flattering slim fit design and durable construction to withstand multiple washes. The cotton is produced in South Carolina, manufactured in Los Angeles and printed in Chicago."
   
   Quite the difference between the two. One will garner repeat customers and the other will get lost in the clouds, the internet clouds that is.
   
   
2. Inadequate Product Images: This part goes hand-in-hand with the Product Description category. Another frequent error is using low-quality images or not enough images to showcase the product. Buyers rely heavily on visuals to make purchasing decisions. Clear, high-resolution images from multiple angles can significantly enhance a product's appeal. With the vast amount of products to choose from, people are quickly filtering through products based on the visuals that they see. It is no different than social media. People quickly skim through visuals that do not appeal to them, the same goes for product images. If the pictures being presented to potential customers do not showcase the main features and functionality, chances are they will get passed on for another product that did showcase those features well. Imagine going to a retail store and they had an old-faded poster showing what you would receive when you checkout. Chances are you would leave without purchasing anything. The same applies for online product photos.
   
   
3. Poor Inventory Management: Failing to maintain accurate inventory levels can lead to stockouts or overselling, resulting in delays and dissatisfied customers. Effective inventory management systems help ensure that stock levels are well-maintained and aligned with demand, which is why we always recommend using Shopify, BigCommerce, WooCommerce or Magento as they have some of the highest industry standards in terms of inventory management. Regularly monitoring and updating inventory levels is crucial for a successful e-commerce business. That is why we put so much emphasis on the software that syncs the inventory data of your e-commerce platform and Apollo's marketplace. With Apollo's system having precision updates every 15 minutes, the overselling rate is less than 1%. As long as your e-commerce inventory is accurate, that means the products being sold on Apollo will be as well.
   
   Depending on the platform that you use and the complexity of your business, there may be inventory planning apps that can be utilized to help you forecast, plan and purchase. Take Shopify's Inventory Planner Forecasting app for instance. (https://apps.shopify.com/inventory-planner). Apps like this will help you analyze sales data to forecast demand, allowing for more informed purchasing decisions and reducing excess inventory. The last thing you want is hard earned money sitting in idle inventory or not being able to sell product due to it being sold out.
   
   
4. Not Offering Competitive Shipping Options: Shipping plays a crucial role in the customer decision-making process. With the structure of our marketplace, sellers have complete control over how they structure their shipping policy. Sellers who do not provide clear shipping options, or charge high shipping fees, risk losing potential buyers. Offering free shipping or competitive rates, along with clear delivery timelines, can greatly increase customer satisfaction and conversion rates. Nearly 88% of online shoppers desire a free shipping option compared to the option that gets their product to them quicker. Almost half of all online shoppers would choose the longer delivery window if it means them saving a few dollars. Not to get overly data driven, but nearly 8% of online shoppers will not buy a product if they have to pay for shipping. These data points may seem small, but they can add up quickly in terms of creating a loyal brand base.
   
   
5. Overlooking Returns and Refund Policies: Just as sellers can tailor their shipping policy on Apollo, they can also tailor their return policy. A lack of clear and fair return policies can deter customers from making a purchase. Transparency and efficiency. Those are two crucial components when it comes to a return and refund policy. Sellers should communicate their return and refund policies transparently and ensure they are consumer-friendly. This approach not only builds trust but also encourages more customers to complete their purchases, knowing they have the option to return items if necessary. Our Return Portal can be tailored to the precise return and refund policy. If there are extended return windows, warranties, guarantees, any potential return scenario can be created to ensure a seamless experience for the customers on Apollo.

Looking Ahead

Although there are numerous other technical pieces overlooked on e-commerce stores, these typically lead to a high fluctuation in conversion rates. Great, you've got a phenomenal product, have a catchy name, thought through all of the necessary business structures, just be sure to not overlook these key factors that many people overlook in the e-commerce space. If you have any questions, reach out to us, we'd be happy to talk through any business solutions that could benefit your business and your e-commerce strategy. Be on the lookout for other posts that share industry insights that can be deployed for your e-commerce business.