Having an optimized presence on marketplaces is more important than ever for e-commerce success.
Modern consumers are becoming more stringent in their buying decisions and savvier in the ways they shop online. Their buying decisions are made across many channels and many devices, and it’s crucial to build recognition and trust across the digital landscape. This is where marketplaces have thrived as a trusted shopping platform for consumers.
Brands need to position themselves professionally on marketplaces to capture consumers where they are making their purchase decisions. Car accessory manufacturer FitMyCar found its marketplace footing and then expanded internationally after integrating ChannelAdvisor Marketplaces, using the solution to successfully navigate the expanding e-commerce industry.
The Melbourne-based brand found itself ready to scale its e-commerce business after seeing remarkable growth in a 12-month period. Founder James Tinsley reported that they had experienced 300% growth from June 2016 through June 2017. “In order to remain successful, we knew we needed a solution provider to support us,” he said.
Tinsley recognized the opportunity to optimize his business operations and focus his resources toward powerhouse marketplaces such as eBay. Leveraging ChannelAdvisor’s Marketplaces solution gave FitMyCar the ability to establish their eBay strategy and management, as well as establish strong foundations and processes on multiple marketplaces to achieve rapid growth on an international scale. They were also able to launch in the US and saw an immediate lift — with 70-80% projected revenue growth.
“Everyone should reconsider their approach to it if they haven’t already. If you’re already in marketplaces, it’s a much easier process if you invest in the technology to help you. We never did that, and as a result, we spent a lot of extra time dealing with management and things weren’t getting done. We should have done this a long time ago.” – James Tinsley, Founder of FitMyCar.
There were a few key developments and improvements to their marketplace strategy that FitMyCar attributed to their growth. “After optimizing our eBay listings with ChannelAdvisor, we saw a 10% uptick in revenue per month,” says Tinsley. “These were very simple processes through their Marketplaces solution.”
To read more about what ChannelAdvisor Marketplaces helped FitMyCar achieve, read the full case study here.