eCommerce businesses come across an array of tools to streamline operations, automate tasks, process payments, and track and manage orders, among other tasks. But with the sheer array of available solutions, how do you know which one fits your needs best?
These eCommerce tools can help you effectively and efficiently manage your online store. Depending on the type of tool you use, you can create and host your own online store, gain access to analytics, optimize marketing, and streamline daily operations. In this article, we’ll be taking a closer look at marketplace management software tools and how these can help fuel your business’s growth.
Top eCommerce Marketplace Management Software + Tips on Finding the Best Solution:
Why Use eCommerce Marketplace Management Tools?
The eCommerce marketplace industry has experienced unprecedented growth over the last few years. In fact, marketplaces are being considered “the future of eCommerce.” Think of it as a shopping mall that carries multiple brands and hundreds, if not thousands, of goods and services. It’s convenient for shoppers because they only have to go to one marketplace to find all their different needs, whether it’s home décor or baby food—meaning, no need to hop from one website to another.
Marketplace eCommerce sales are expected to reach close to $360 billion this year—and that’s in the US alone. Some of the key players in the industry include Amazon, eBay, Etsy, and Walmart.
Source: insiderintelligence.com
For entrepreneurs who want to scale their business, diving into the marketplace industry can open up more opportunities. It puts their business on a more global platform and lets them stay ahead of the competition. If done correctly, this move can result in increased sales, enhanced marketing, and better credibility. Plus, a marketplace acts as a separate sales channel, which can help improve brand awareness. A marketplace also has a review feature where customers can leave reviews of your goods or services, helping inform other prospective customers and possibly encouraging them to make a purchase. Lastly, a marketplace offers transparency because customers can see all the relevant information, such as product details, availability, and prices, on one page.
However, moving to or expanding to a marketplace can be a daunting process. You need to consider factors such as expanding your supply chain, improving customer service to accommodate a more global clientele, and identifying growth opportunities in this new market. With more than half (53%) of US adults starting their online shopping journey by doing product searches on marketplaces like Amazon, these hubs present plenty of opportunity for growth.
Using an eCommerce marketplace management software can help you stay on top of things. Below are some of the benefits of using such tools:
- Can help you come up with a better marketing strategy
- Give you access to different datasets
- Let you optimize your products, campaigns, and operations
- Help you monitor feedback
- Access and manage multiple marketplaces
Top eCommerce Marketplace Management Software
eCommerce businesses need to make a lot of decisions fast. How do you choose the ones that will fuel your growth? CommerceIQ harnesses the power of artificial intelligence to maximize performance, scale automations, and help you make better decisions faster. This opens up opportunities for more sales and higher profits as well as share of voice. Brands and retailers that want to streamline their operations and expand their business to new channels can use ChannelAdvisor to fuel growth. It’s a multichannel retail software solution that also lets you optimize your marketing strategies to drive sales growth, connect products to multiple channels through integrations, optimize ad campaigns, and create shoppable digital campaigns. It supports a wide array of channels across the world, including: Check the full list of supported channels here. Leverage data, insights, and retail forecasting to start selling better. Edge by Ascential offers a selection of solutions for growth and scalability. It offers the following solutions: Tradeswell equips eCommerce businesses for growth by letting them access insights and utilize data to make better business decisions and marketing strategies. It works by letting you bring your own data from different sources and processing that in 1-2 days, so you have a single source of truth for components like SKU and marketing data. Tradeswell then uses its proprietary commerce AI to collect, clean, and normalize disparate data around the clock. It also lets you access your data using your preferred reporting or visualization tools. Best of all, it makes it easier for teams to spot and work on actionable insights and data. Uncover insights and get access to better data to facilitate your growth. Stackline lets you access data from more than 300 billion consumer eCommerce searches, so you can grow up to 47% faster than the competition. This full-funnel connected commerce platform offers a variety of solutions, including Atlas for viewing retail market share and competitive intelligence, Drive for automating advertising for campaigns, and Trends, which lets you analyze different search trends. Aside from letting you access trends and insights, Stackline also lets you sell your products across different commerce platforms, access powerful advertising solutions to create highly targeted campaigns, fuel customer engagement for higher conversions, and take better control of your business. 1. CommerceIQ
2. ChannelAdvisor
3. Edge by Ascential
4. Tradeswell
5. Stackline
Finding the Best eCommerce Marketplace Management Software for Your Business
Here are some tips that can help you find the best eCommerce marketplace management software for your business:
- Prior to going with a solution, you first need to determine your business goals and assess your needs. Can you use it to automate listing on multiple channels?
- Does it offer a central or unified dashboard where you can view and monitor all your channels? Does it offer comprehensive analytics? What about reporting?
- Look for a solution that offers round-the-clock support. You may encounter some challenges or issues when using a tool or software, which is why it’s important to look for a provider that offers 24/7 support. Make sure that they also provide clients with resources like guides, an FAQ page, or a community page.
- Make sure that the software is easy to use and compatible with all the software you’re using.
- Don’t forget to have training sessions for your staff. Make sure that everyone who’s going to use the new software will be onboard and able to use it properly.
- Consider your budget. Most, if not all, of the solutions featured on this list don’t reflect their prices. Make sure that you request a demo first or ask for a free consultation to gauge whether or not a particular solution is right for you. Let other team members try it out to see if it’s easy to use, scalable, or facilitates better collaboration among teams.
Frequently Asked Questions
What are the best marketplace management tools for eCommerce?
Our top 8 marketplace management tools for eCommerce are as follows:
- Sellozo
- Pacvue Commerce
- CommerceIQ
- ChannelAdvisor
- Edge by Ascential
- Tradeswell
- Stackline
- Threecolts
Each solution is equipped with powerful features and capabilities designed to help eCommerce businesses optimize operations, leverage data and automation, improve collaboration, and monitor performance.
Why should I consider using an eCommerce marketplace management software?
eCommerce businesses looking to scale should consider using an eCommerce marketplace management software, especially if you’re planning to expand in multiple global marketplaces. These solutions or tools can help get your business on a larger scale, manage your orders more efficiently, and offer better experiences to your customers.
How much do such solutions usually cost?
The eCommerce marketplace management solutions we mentioned don’t reflect their pricing or plans on their respective websites. However, they do encourage prospects or interested parties to request a demo. Edge by Ascential, for example, offers a free consultation.
