The smartest businesses view themselves similarly to a stock portfolio and find that diversification is key to success. This will give you multiple revenue streams to supplement your ecommerce website.
On top of that, modern consumers are often agnostic to their final purchase destination. This means that many customers have no preference on whether they shop on Amazon or your ecommerce store — their only preference is convenience.
Simply put — if you aren’t selling across channels, you could lose the sale to a competitor who has better diversified.
Here’s all the information you need to know to expand your revenue portfolio and grow your sales exponentially.
Selling on Facebook.
With nearly 3.45 billion monthly active users, Facebook holds huge potential for leveraging new audiences and scaling globally. Not only is it a space for friends and family to connect online, but in recent years, the platform has also become a hub for ecommerce brands.
With Facebook Marketplace, customers can engage with your brand and even buy directly from your Facebook Business Page. The platform is mobile-friendly and free, and Facebook Shops are also fully customizable, allowing you to import an existing product catalog or create a new one on the platform.
After your customers discover your page, Facebook helps promote your business by featuring products based on the shopper’s unique preferences and search history, thus giving them a personalized customer experience.
Once the customer is ready to buy your product, they can complete the purchase either within the Facebook platform, or they may be linked back to the checkout page on your ecommerce site. And, if needed, you can communicate with the customer via Facebook Messenger to answer any questions and offer support.
Selling on Tiktok.
A newer player to the social commerce game, TikTok has become far more than just a short-form video-sharing app. Now with product links, advertising and LIVE shopping capabilities, TikTok is an ecommerce platform worth considering.
According to eMarketer, many of TikTok’s social commerce capabilities thus far have focused on product ads which appear as native videos on users’ For You feeds. Below each advertisement, users can tap the “Shop Now” button, which links them directly to the merchant’s ecommerce site to complete their purchase.
And as of recently, brands also have the option to build a shoppable storefront on TikTok through the Shopping tab. TikTok users can now add the Shopping tab to their business profiles, where they can sync their static product catalog and allow customers to make purchases straight from the app.
And now, BigCommerce’s partnership with TikTok allows merchants to connect their online store with their TikTok profile, allowing you to engage with shoppers and share your products with more users.
Selling on Instagram.
With 70% of shoppers looking to Instagram for product discovery and 1 billion active users, it’s safe to say that this is one of the most thriving social platforms on the market.
Known for its eye-catching photos, stories and videos, Instagram is the perfect space for sharing high-gloss brand imagery. With photo, video and user-generated content opportunities, Instagram serves as a great social media platform to drive traffic and conversions.
All you need to set up Instagram Shopping is a Facebook business profile, which links your Facebook Shop to Instagram. Then, you can upload a product catalog and begin creating product tags for each item. This will allow you to create shoppable posts and streamline purchases directly from the platform.
Selling on Etsy.
A popular marketplace for artists and creatives, Etsy is the ideal place to sell handcrafted, custom-made and vintage products. Although a relatively niche marketplace, Etsy also caters to merchants who sell digital products such as digital downloads and website themes.
Luckily for those without any background knowledge or technical experience, creating an Etsy store is quick and easy, and building a storefront only requires a bit of customization.
However, do keep in mind that Etsy charges transaction fees for each sale, so it may be a good idea to have your own online store in addition. Plus, Etsy also charges PayPal fees which may subtract money from your overall profit. Make sure to read up on Etsy’s terms and conditions before deciding to sell solely from this platform.
Selling on eBay.
Although eBay is best known for auctions, as a merchant, you can also build your own eBay storefront and sell a variety of products at fixed prices.
And luckily, eBay is a hub for products of all kinds — clothing, home decor, vintage collectibles, artwork. If it’s a product worth selling, you can post it on eBay. But while the marketplace does offer a space for all kinds of businesses, this might make it a bit more difficult to find your niche and stand out from the crowd.
However, selling on eBay is a great opportunity to reach a global audience, and the platform offers an intuitive, user-friendly interface where merchants can list products and build out their store in just a few clicks.
However, be aware that aside from charging a monthly fee, eBay also charges listing fees and a “Final Value Fee.”
Selling on Walmart.
In 2021, Walmart Marketplace surpassed 100,000 sellers, which is nearly double the number registered in 2020 — which goes to show that Walmart has huge potential for online retailers looking to sell online.
As the world’s largest omnichannel retailer, Walmart lets merchants build their product catalog, manage inventory and set prices, as well as fulfill orders and get paid efficiently — with no setup or monthly fees.
With big-name retailers like Toms, Dell and Eddie Bauer leveraging Walmart’s online presence, the marketplace is suitable for both large and small businesses alike, offering ecommerce tools such as Sponsored Products, a Brand Portal and Enhanced Returns to help merchants run their businesses successfully.
And as a BigCommerce merchant, you have the opportunity to connect your store to Walmart Marketplace and start driving more sales instantly. Connect your BigCommerce catalog today so you can share your products with 120 million unique Walmart.com visitors every month.
Selling on Amazon.
Considering 49% of consumers start their product search on the platform, it’s no surprise that Amazon has become a household name.
As the third largest online marketplace in the world, Amazon offers retailers the opportunity to sell their products to a massive audience and expand their global reach.
Additionally, Amazon offers FBA (Fulfillment by Amazon), which allows merchants to ship their products in bulk to Amazon’s global fulfillment centers and get them in customers’ hands quickly.
However, keep in mind that Amazon does charge a fee for each product sold, and these fees are even higher for merchants who choose the FBA option. Plus, with so many retailers taking advantage of Amazon’s massive customer base, it can be tricky to get the visibility you want.
Luckily, BigCommerce can help you tap into Amazon’s huge selling potential by letting you to list your products on Amazon straight from your BigCommerce control panel, using centralized inventory and order processing and fulfillment.
Selling on Pinterest.
Compared to other social platforms, where the influence of the user or brand may hold more weight, Pinterest allows merchants to focus more on putting out great products and less on building their personal reputation. In fact, 77% of weekly Pinners have discovered a new product or brand on Pinterest.
Originally, Pinterest launched as a platform to help people find inspiration for all aspects of their lives, from home decor to fitness to fashion. But back in 2015, Pinterest began offering shoppable pins to an exclusive set of brands, allowing them to add a “Buy” button to their pins, but this feature became more widely available to other brands not long after. Using Pinterest for Business, merchants can create Product Pins, which display updated pricing and stock information and allows shoppers to save products directly to their personal boards. Or, if they’re ready to make a purchase, the shopper can tap on the Product Pin which redirects the shopper to the product page on the brand’s website.