In this modern era, we are no longer bound to only selling from a brick-and-mortar store. This is the time when customers are browsing a variety of sales channels, including websites, social media and livestreams to make a purchase.
With all the technological advancement and lifestyle changes, convenience is something your customer looks for even when it comes to shopping. Your business has the potential to grow so much more if you’re able to bring your business to where your customers are.
What is multichannel selling?
Multichannel selling is the process of selling products or services via multiple sales channels – both offline and online. Apart from your retail store, there are other sales channels that you can sell on:
- online marketplaces (Shopee, Lazada, Zalora, and many more)
- social media (Facebook, TikTok, Instagram)
- messaging apps (WhatsApp, Telegram, LINE, WeChat)
- webstore (Shopify, WooCommerce, Unicart)
In this way, you can leverage different platforms to expand your business reach and connect with more customers. SiteGiant is a 6-in-1 eCommerce solution that can help merchants like you to sell on more than 20 sales channels and grow your business.
How multichannel selling can help grow your business?
1. Enhance brand awareness
Your potential customers aren’t always looking out for you, you have to meet them wherever they are shopping at. By listing your products on multiple channels, you are promoting your brand across different platforms and targeting different groups of customers. This is an amazing opportunity to improve your business presence not only in the local but also international market.
2. Increase customer base and revenue
Multichannel selling is a great strategy to convert visitors from various channels into customers. With the right tools and approach, you might even have them become your loyal, returning customers. This will help to grow your business and increase your business revenue steadily.
3. Enhance data insights
By selling your products or services across multiple channels, you’ll have the opportunity to track many more customers’ behaviour on different platforms. Your business can gain valuable insights on customers’ preferences and the latest market trends. For example, know which products are in demand, which sales channel offers better business growth opportunities, identify the best pricing margin and so on. These information will be helpful in planning future business strategies.
4. Reduce business risk
We often hear others telling us not to put all our eggs in one basket. The same applies when doing a business. It is best to diversify your business by selling on multiple sales channels. In this way, you do not solely depend on any one particular channels to sustain your business. Should one of your channels suffer a lost, the other sales channels will be able to help you cover and balance out your business profit.
4 best practices for multichannel selling
Multichannel selling is widely practiced among sellers worldwide due to its benefits. However, this method of selling also needs to be approached with care to ensure your business runs smoothly. It is encouraged to find the right eCommerce tools to help you automate certain processes and reduce your workload in managing multiple channels all at once.
1. Centralize your order management
When you are selling on multiple channels, it can be overwhelming always to keep an eye on every channel for orders. Thus, it is important to use an order management system to oversee all your orders in one place. As your business grows, the number of orders to fulfill will increase as well. An order management system can help to ensure all your orders are processed accurately and delivered to customers on time, even during large sales events.
2. Keep inventory in sync across all integrated channels
When selling on multiple channels, your product inventory management is crucial. It is recommended to utilize an inventory management system to sync your inventory stocks in real-time across all your sales channels. This will help to prevent overselling or overstocking issues in your business.
3. Simplify your product management
It is a lot of work to update every product detail one-by-one into each sales channel for sale. It is also not an easy task to monitor all your product pricing, especially if you have a different set of pricing on different sales channels. Hence, a product management system is necessary to save time and effort. You’ll be able to easily update your product details and pricing from one place without much hassle.
4. Analyze your business performance
Track your business performance across different channels with the analytics and reporting tool. This is a must-have tool for every business in order to gain insights and find ways to improve your business. Make full use of it to optimize your business strategies and serve your customers better.
If you’re recently experiencing a limit in your business growth or would simply like to explore more options to grow your business, try out multichannel selling for yourself. You may also utilize SiteGiant 6-in-1 eCommerce solution to help you get started. It comes with all the complete eCommerce features to help merchants like you sell on multiple sales channels effortlessly.