Will Selling on Online Marketplaces Sink Your Business?

Sell on Online Marketplaces

As you are probably aware, Amazon, Walmart, Newegg and many other e-commerce companies offer third-party marketplaces that give you the opportunity to sell your products on their websites. You may view them as your competition or at least a distraction that pulls away buyers at critical moments. What if online marketplaces are actually your ally in growing your business?

Think Complementary, Not Competitive

You need to shift your perspective so that you’re viewing e-commerce markets as a complement to your business. They offer quite a few benefits to small businesses, with an established user base that is accustomed to making purchases on these sites.

You piggyback on their marketing and advertising efforts to take advantage of the traffic it brings in. Advanced seller tools give you the opportunity to work with a technology infrastructure you may not have available for your sales efforts. They have more resources at their disposal for experimenting with new technology and techniques, and you reap the rewards.

It’s time to make third-party marketplaces an essential part of your online approach. Whether you sell online or not, they can form an important part of your business growth strategy.

How to Get the Most Our of Online Marketplaces

Before you start putting products on these marketplaces, you need a solid strategy to maximize the benefit of using them. The audience that uses Amazon and other massive e-commerce sites may be far different than the people who shop at your business. You may need to curate your product line to match their expectations, as opposed to offering everything you have for your regular customers.

Brand awareness is another major benefit of getting on these marketplaces, so make sure you’re taking advantage of that. Promote your business as much as the product so you can start to grow your customer base through a broader reach.

Make sure that your product information is up to date and synchronized with the rest of your online presence. You don’t want inaccurate information to cost you customers when they compare listings between your site and the marketplace. With synchronization, you also don’t have to spend time updating every single listing on every single site. Instead, you change it once and automatically refresh the rest.

Product Information Management Online marketplaces are a tool to add to your small business marketing toolkit. They might seem like they’re taking sales away from you, but in reality, they bring you far more customers than you lose out on.

Sources:

http://www.practicalecommerce.com/Third-party-Marketplaces-What-Merchants-Should-Know

How to Break Down Barriers by Working Collaboratively

Working Collaboratively

Today’s business technology makes it possible to remove the barriers that previously separated departments. Now, companies can offer integrated applications that connect everyone in the organization, whether they’re in their headquarters office in Accounting, or working from their home in Customer Support. This change in the business environment makes it possible to use a secret growth weapon: working collaboratively.

working collaboratively
Working Collaboratively

The benefits of collaboration in the workplace

Many companies find that the role of their employees has shifted due to new technology. Automation, artificial intelligence and other advances eliminate time-consuming manual work that often ties up your human resources. Now your people have the opportunity to step outside of their rigidly defined roles. They get to pursue projects that align with their talents. You end up with multidisciplinary teams that are well-suited to adapt to a fast marketplace.

You never know when the next startup will pop up in your industry and begin making major changes. When you have people working together with a wide range of perspectives, you have a better chance of overcoming this challenge and innovating your products and services.

Workplace Collaboration
Workplace Collaboration

How to get the most out of a collaborative environment

Start from the top of the organization. You need a leadership structure that accommodates flexibility and unusual teams. When managers put together a roster for an upcoming project, they should look beyond their traditional department lines to find talent.

Let lower-level employees know that collaborating outside of their assigned job roles is an acceptable part of the company culture. One way to improve sharing is by opening up communication across the organization. When workers have an easy time starting a conversation with managers, or even the owner of the company, they can bounce ideas off each other quickly.

Make sure that your technology infrastructure is prepared to handle high levels of cross-collaboration in your small business. Ideally, you want to have solutions that make it easy to give access to people throughout the company. A centralized data set allows everyone involved to work with the same information, whether they’re writing product descriptions or putting together a marketing campaign.

Today’s business environment gives you many opportunities for growth with the help of collaboration. Make sure that you’re prepared to take advantage of this workplace trend, both for short-term success and long-term sustainability.

Sources:

https://www.elcomcms.com/resources/blog/the-importance-of-collaboration-in-todays-workplace

Digital Asset Management: From the Beginning to Now

The History of Digital Asset Management

Digital asset management technology helps organizations keep track of the resources they use for design, marketing, sales, merchandising and other parts of their operations. These platforms standardize file formats and structures, provide user access control, create audit trails and have other features that are useful for working with the massive asset databases that many businesses have.

Digital Asset Management
Digital Asset Management

The First Digital Asset Management System

The concept of digital asset management grew out of record and document management solutions. It’s taken various forms over the past three decades, adapting to ever-increasing demands. While those original platforms worked sufficiently at the time, the increase in data collection and creation made it increasingly hard to use the applications for this purpose. Either they couldn’t work with large data sets or they lacked features that related to newer forms of media.

The mid-to-late 1990s saw the first digital asset management solutions. Silicone Graphics and CNN needed a platform that could manage the sheer volume of content that they had available. The software available at the time wasn’t designed to handle the functionality that these companies demanded. For example, CNN had 700,000 news clips that it needed to process and manage, which was a huge volume for the time. The company later partnered with Sony and IBM to take on the process of digitizing and managing 21 years of additional news videos.

Higher education institutions started pursuing digital asset management in the 2000s for a variety of use cases. Branding materials were easily accessed by the marketing and advertising teams that helped improve the school’s image, the libraries could load their digital content into a robust system and research projects became more accessible throughout various departments.

Digital Asset Management System
Digital Asset Management System

Today’s digital asset management solutions are designed to handle huge volumes of data. The 700,000 clips that were a massive deal back in the 90s are child’s play to modern systems. They work to connect internal departments, external partners and remote workers so everyone has access to the right assets. In a competitive business world where using the wrong version of a logo can result in significant losses, digital asset management systems play a critical role.

Integrations with Product Information Management

Today, a lot of businesses are realizing the benefits of integrated digital asset management and product information management systems. In the same way that managing all digital assets in a centralized location is good for efficiency and business, many businesses are realizing that taking it a step further and linking all assets to product data streamlines their efforts. Catsy combines the power of digital asset management and product information management along with giving businesses the tools to push product content to marketplaces, price books, eCommerce, and more. Sign up for a demo at www.catsy.com.

Sources:

http://classroom.oceanteacher.org/pluginfile.php/1954/mod_resource/content/0/dam2.pdf

https://images.g2crowd.com/uploads/attachment/file/42290/uploads_2Fcadac292-786e-43d7-84e2-93f469ca4f05_2FGetting_Started_With_Digital_Asset_Management_-_an_eBook_for_Marketers.pdf