6 Ways to Simplify Global Expansion on Marketplaces
As brands consider expanding to international marketplaces, it can be intimidating to tackle all that needs to be done to go global. The comforting news for executives is success on most global marketplaces is found in the same six characteristics. If a brand executes in each of these six areas, then going global will lead to building revenue.Let’s review each area for executives to focus on:
1. Win the Traffic Game
To be successful on any marketplace around the world, brands must focus on traffic and conversion. Directing traffic to your listings may increase conversion, leading to profitable ecommerce growth. How do you win the traffic game on marketplaces? By understanding the potential customer and focusing on and optimising efforts like paid advertising, content (images, bullets, video, and reviews).At Pattern, we helped Skechers win the traffic game in China, eventually catapulting them to the third best performing Chinese D2C site. Skechers gained significant eyeballs by repositioning the brand with content, conversion rate optimisation, and pre- and post-sales customer service.
2. High Quality Imagery
Although what successful content looks like from marketplace to marketplace changes, one thing doesn’t–every product needs quality imagery. For example, on Amazon U.S., imagery may include multiple product angles, and a tutorial video explaining how the product works and is used. On other marketplaces, a video may not be necessary for directing quality traffic to the product.With high quality images, choosing marketplace specific imagery is a key to success on global marketplaces. American Pet Brand, one of the largest manufacturers of electronic pet training products in the U.S., with Pattern’s 3P partnership, developed and executed a Chinese brand creative strategy on Tmall. This creative refresh led to 500% sales growth on Tmall in 3 months.
3. Staying in Stock
Although a basic retail principle, staying in stock can be more complicated than you think. Every marketplace demands various amounts of stock, mostly depending on the consumer demand in that region. Thorough research, with the right resources and data, will tell a brand what the optimal amount of stock is for that marketplace. Understanding consumer demand and marketplace-specific logistics help brands to stay in stock.
4. Fast and Accurate Customer Service
Many marketplaces base a product’s ratings on how fast and accurate their customer service is. Although global marketplaces may use various platforms for how customer service is performed, the principle of providing a source for your customers to ask questions, send reviews, and get answers in a quick and efficient manner is the same.Thorne, a Western supplements and wellness brand, partnered with Pattern to overcome major hurdles to launching on Tmall–including tailored customer service for Chinese consumers. Pattern worked with Thorne to provide customer service agents specific in-market consumer and product training, so they understand the unique features, benefits, and details to accurately assist and advise customers using Tmall’s Live Chat feature. After launching on Tmall, Thorne hit over 2x the sales projections in the first month.
5. Account Health and Listing Maintenance
Since each marketplace has different account health and listing maintenance requirements, to determine a brand’s ranking or product availability, it is important to know what to do to increase your account health and maintain your product’s listings, in general.For example, Amazon account health is based on many measurements such as product quality, operational reviews, performance metrics, and buyer feedback. If a brand can succeed in these areas, most likely the principles of good account health and listing maintenance will transfer to other global marketplaces, despite slight variations.
6. Efficient Logistics
Domestic logistics can be stressful, and going international is an entirely different ball game. Varying requirements and regulations can change the way your brand may store, package, and ship your product. On a global scale, efficient logistics requires careful research and analysis.Once you have nailed the general efficient logistics, it’s simply a matter of localising the effort and applying those same principles to different marketplaces. Globalisation can then take much less time and effort in building up a marketplace from the ground up.
Simplify Your Global Expansion With Pattern
In our experience, these six areas are universal in creating success on global marketplaces. Going global can be more simple than brands may think, especially when they have the right teams and resources to help.As a global ecommerce accelerator, and 3P marketplace partner, Pattern has helped many brands expand internationally by pairing the basic principles of going global with our local expertise, resources, global structure, and data.We can help you build the foundation to succeed on all global marketplaces. Contact us.