{"id":44495,"date":"2023-10-20T15:36:26","date_gmt":"2023-10-20T15:36:26","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/four-tips-to-lead-the-game-in-e-commerce-with-the-advent-of-facebook-marketplace-startupsmart\/"},"modified":"2023-10-20T15:36:26","modified_gmt":"2023-10-20T15:36:26","slug":"four-tips-to-lead-the-game-in-e-commerce-with-the-advent-of-facebook-marketplace-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/four-tips-to-lead-the-game-in-e-commerce-with-the-advent-of-facebook-marketplace-startupsmart\/","title":{"rendered":"Four tips to lead the game\u00a0in e-commerce with the advent of Facebook Marketplace\u00a0 – StartupSmart"},"content":{"rendered":"
\"Shopping<\/div>\n

The advent of Facebook Marketplace probably didn\u2019t have too many business owners sweating. The social media integrated eBay-like offering was only launched in October last year and acts more like a place to sell your used toaster, rather than a fully fledged e-commerce marketplace.<\/p>\n

But some entrepreneurs are warning all retailers to make sure they\u2019re ahead of the curve, claiming the personal aspect of Marketplace could kickstart its popularity.<\/p>\n

Writing for Entrepreneur<\/em>, Brent Freeman, founder of venture capital firm Stealth Venture Labs shares his tips for how startups and e-commerce entrepreneurs can stay ahead of the curve when it comes to larger competitors like Facebook Marketplace.<\/p>\n

While Freeman thinks it\u2019s unlikely Marketplace will spell the end for other e-commerce platforms, he says there are some key things SMEs can do to stay competitive. <\/div>\n

1. Mix up your marketing strategy<\/h3>\n

Freeman believes an \u201comnichannel\u201d approach for e-commerce marketing is essential. He claims customer engagement on multiple channels can increase a brand\u2019s revenue by 9.5%.<\/p>\n

\u201cDominating one channel is all well and good but leaves gaps in your marketing efforts and opens your business to risk. When you take an omnichannel approach, you can navigate those peaks and valleys and reallocate funds to the areas most in need,\u201d he says.<\/p>\n

2. Strengthen your fulfilment efforts<\/h3>\n

Shipping is the name of the game when it comes to e-commerce, with Freeman arguing that customers will feel underwhelmed if shipping \u201ccosts a dime and takes more than two days to arrive\u201d.<\/p>\n

He recommends incorporating shipping costs into the price of items, or just changing what you charge for shipping altogether.<\/p>\n

\u201cTwenty-eight percent of consumers abandon their shopping carts when charged an unexpected shipping rate,\u201d he says.<\/p>\n

3. Look into third-party logistics<\/h3>\n

In the same vein as the second tip, Freeman recommends e-commerce businesses consider third-party solutions to help with difficult tasks such as shipping.<\/p>\n

\u201cLook at using a fulfilment company to handle shipping. You\u2019ll likely save money, reduce liability and free up time to focus on growing your business,\u201d he says.<\/p>\n

4. Let go<\/h3>\n

Finally, Freeman believes small business owners and entrepreneurs shouldn\u2019t try to do everything in their business, saying \u201cno one can do it all\u201d.<\/p>\n

\u201cLet go of certain aspects of your business, such as accounting, customer services, graphic design or shipping and logistics,\u201d he says.<\/p>\n

The solution? Freeman recommends getting some contractors on board to help out, as their expertise will make it easier for you to focus on growing and improving your business.<\/p>\n

This article was originally published on SmartCompany. <\/em><\/p>\n

Follow StartupSmart on Facebook, Twitter, LinkedIn and iTunes.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The advent of Facebook Marketplace probably didn\u2019t have too many business owners sweating. The social media integrated eBay-like offering was<\/p>\n","protected":false},"author":1,"featured_media":59222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/44495"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=44495"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/44495\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/59222"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=44495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=44495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=44495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}