In order to be successful in e-commerce and attract more customers, you can benefit from the power of marketplaces to reach large audiences. However, for this you will need marketplace analysis and familiarization with the marketplace. So, what does marketplace mean and how is marketplace analysis done?

What is Marketplace?

With the shortest and fastest definition, we can say that more than one shopping platform is presented together for marketplaces. We can also see them as online shopping malls. Marketplaces, which radically changed the shopping habits of users who want to buy products and services, also have a large share in the growth of e-commerce. E-marketplaces, which offer the advantage of reaching very large markets in a comfortable way for the product or service provider, that is, the seller, are growing more and more. It is also constantly evolving.

Advantages of Putting a Product on the Marketplace

There are many advantages of taking place in the online marketplace. Thanks to the marketplaces, which are of great importance for e-commerce, you can ensure that your brand reaches more people, more easily and quickly. You can take advantage of the search engine optimization work and advertisements made by the marketplace. You can be a part of the trust that the marketplace provides. There are also some advantages offered by marketplaces for sellers. These can help you solve some tasks more easily and avoid wasted time and work. In addition to all these, you should be able to compete with vendors offering similar products or services in the marketplace. So, who are your competitors and in what ways are they better than you? You need market analysis for this.

Marketplace Competition Analysis

In order to take firm steps, you can do a marketplace competition analysis. With marketplace competition analysis, you can see the movements of competitors in the same market and what kind of strategy they follow. Thus, you can get tips on how to act while describing your own brand. Speed ​​and trust are among the steps that bring customer satisfaction in e-commerce. You need a good system to act fast and to deliver your products on time. While increasing your presence in marketplaces is advantageous in many ways, it can have negative consequences if it is not managed well. Therefore, you may need e-commerce marketplace integration. With e-commerce marketplace integration, you can manage your e-commerce process from one place. E-commerce marketplace integration advantages;

• Speeding up both sales and order processes
• Answering questions from different marketplaces from a single point
• Stock management of products
• Facilitating invoice processes
• Customer analysis

Some analysis processes need to be completed in order to determine how you should follow in order to become the preferred brand in e-commerce marketplaces. These analysis processes include market analysis, influencer marketing analysis and GMF.

Market Analysis

With market analysis, you can learn about your competitors’ activities while learning what your customers want. Thus, in order to become the preferred brand, you can determine how you will differentiate from your competitors and what you can do to serve your customers better.

Influencer Marketing Analysis

One of the processes that includes market analysis is influencer marketing analysis. Through social media, you can collaborate with social media phenomena that affect the behavior of your target audience. For example; If you are in the mother & baby products market in e-commerce, your choice of influencer should be someone your parents follow closely.

GMF

It is also important that the sellers in the marketplace do GMF work. With Google Marketing Finder, or GMF for short, it may be possible to obtain comprehensive information about the target market. It makes it possible to get successful results with the right digital marketing tools and the right social media planning.

Through both analysis, you will be recognized in the marketplaces, while your awareness of your target audience will increase. Understanding how to interact with and engage your customers is one of the reasons why marketplace analytics is important.