Do you want to prefer either your own website or online marketplace? Want to find which is best for your business? Then proceed with this guide and explore ecommerce websites vs online marketplace. When any business decides to sell its products online, it is always better to choose between its own website or selling on the marketplace. Read further and find the answer for what to prefer.
Difference between own website Vs online marketplace:
So what are the major differences?
Generally, through an ecommerce website, you can easily list and sell products without any issues. Your own website for sale includes only your products and services and places them into categories. Here two parties will get involved when the sale is made on your own ecommerce website, the seller and buyer.
Multiple sellers can sell their products through the online marketplace since it is an online shopping platform. Here buyers can buy products from a wide range of sellers and make payments at checkout together via the online marketplace for sale. Here three parties will get involved when the sale is made on the online marketplace, marketplace administrator, seller and buyer.
Impact of selling products on your own website:
Having your own website to sell products and services is very much exciting. But it must need a huge startup fee and more ongoing effort and research to perform well and keep it going. The own ecommerce website can be specially created to compliment your brand and directly depends on the needs and requirements of the target audience.
Check out below to explore the benefits of selling products on your own website:
The platform is yours
Usually, the costs required to create your own ecommerce website and run it effectively are more when compared to listing products on the marketplace. But the choice is yours; if you invest more, you can go with your own ecommerce website.
Generally, selling products online, even on your own website, will need transaction fees on every product. But the amount you earn on selling products will be completely yours. When selling products on a third party website, there is a specific commission structure to make money. It can be even more payable before you are going to sell anything.
Present your brand based on your need without limitation
When you create your own ecommerce website to sell products, you can have complete control over deciding your brand representation. With your own website or online shop, you can easily customize your approach to all your potential customers. But selling on the online marketplace may have specific limitations. You must stick to their layout and design, which is not suitable for your brand representation.
Easy to track conversions and traffic
You can easily add an Analytics script to your website backend to check out how many audiences are browsing products online and converting. Selling on the online marketplace will make it very tough to track conversions and traffic.
As you have your own website, there is no unnecessary competition for you. Everything you do will belong to you. You don’t need to give tough competition to anyone. But on the marketplace, you have to sell products and other businesses selling similar products on the same platform.
Impact of selling products on the online marketplace:
An online marketplace is the best option for selling products online. It is highly suitable for startups. It would be best to put less effort when bringing the third party into the combination. But this may end up in additional costs while making the sale.
Check out below to explore the benefits of selling products on your own marketplace:
Best for brand awareness
Selling the products on the most popular online marketplace platform is the best way to increase the popularity of your brand. When you introduce more products, the marketplace users can become more aware of your products.
Lower marketing costs and startup fee
Creating your own website can be very much expensive. There is a wide range of platforms that provide free templates. But if you want everything to be perfect based on your need and requirement, you need to buy a template.
You also have to hire a professional website designer to create your own website. But when you choose to sell your products on an online marketplace, the startup fee is very much less. They can do all marketing and promotion. They also cover courier costs and payment gateway.
Access to more customers
The famous online marketplace platform will already have a set audience. They will visit regularly and search for their required products. If your products are impressive, then you can easily attract more customers. It is the added advantage of the marketplace.
More transparency and trust
Customers making use of the online marketplace have more trust in them. Therefore they won’t dig deeper to buy your products in such a marketplace. If everything is transparent, then customers never hesitate to buy your products at any time.
Own Website Vs Online Marketplace - What Do You Prefer?
Now is the time for you to make the decision. Online shopping sure continues to grow without any obstacles among consumers. Also, the platforms available to sell their products online are increasing year by year.
Whether you choose to sell on the marketplace or create your own website, you already would have taken a step in the right direction. There are the best options for using both techniques to sell your products without issues. Most businesses use this approach since it opens your brand up to a broader audience.
Whatever you choose, don’t forget to satisfy your customer demand and needs. Customers are the backbone of business growth.
Whether you own a website or online marketplace, your primary motive is to give everything your customers want. Respond to them quickly and give them 24/7 support service. But considering all these factors of business for sale, you can choose the best mode to sell your products very effectively.