This article was based on the interview with Todd Walsh by Greg Kihlström, MarTech keynote speaker for The Agile Brand with Greg Kihlström podcast. Listen to the original episode here:
Strategic marketplace presence is key for brands looking to drive sales and increase market share. With the rise of e-commerce and online marketplaces, consumers have more options than ever before when it comes to shopping for products. As a result, brands must carefully consider where and how they position themselves in order to stand out and attract customers.
One of the first steps in developing a successful marketplace strategy is understanding consumer behavior. Consumers today are seeking variety and are shopping across a wide range of marketplaces. This means that brands need to be strategic in choosing which marketplaces to participate in, focusing on those that offer the greatest sales opportunities. It’s not about being present on as many marketplaces as possible, but rather about being strategic in selecting the right ones that align with the brand’s goals and target audience.
For Todd Walsh, Global Marketplaces COE Leader at HP, marketplaces are the leading growth area in e-commerce. He emphasizes the importance of being strategic in choosing where to sell and present the brand, rather than simply focusing on the number of marketplaces. By identifying the top marketplaces that offer the best opportunities for driving sales and market share, brands can maximize their impact and reach a larger audience.
In addition to selecting the right marketplaces, brands must also differentiate themselves from the competition while staying true to their brand identity. With consumers faced with a large volume of product options on marketplaces, it’s important for brands to stand out and capture their attention. This can be achieved through various strategies, such as showcasing unique product offerings, highlighting brand values and messaging, and providing a seamless and engaging shopping experience.
Overall, strategic marketplace presence is essential for brands looking to succeed in today’s competitive e-commerce landscape. By carefully selecting the right marketplaces, understanding consumer behavior, and differentiating themselves from the competition, brands can drive sales, increase market share, and build a strong online presence. With the right approach and focus, brands can position themselves for success in the ever-evolving world of e-commerce.
