I bet you’ve read hundreds of articles that talk about marketing techniques to make your business grow exponentially in record time. They never help you to understand the concept well, or even how to apply it to your online store.
Forget all of that. This article will help you understand in detail the difference between all that spam that’s spread all over the internet, versus the concept that is already in the sights of brands that use Shopify: Cross-Store Selling.
Cross-Store Selling, a collaborative marketing strategy
Cross-Store selling is a collaborative marketing strategy, where brands that have a ‘Direct To Consumer’ (DTC) sales system partner with each other to sell their products, without a traditional relationship with a wholesale channel.
At an operational level, both sales platforms synchronize their stock as well as their transactions, monitoring everything in real-time, to boost sales while avoiding risks and stock commitments.
What benefits can Cross-Store Selling bring to your brand?
1. Grow your sales and save on marketing costs!
You don’t need to invest loads of money or bid to be at the top of online search results. The Cross-Store Sales strategy lets you grow your sales thanks to the visibility that it gives your catalogue of products, at zero marketing costs.
How much time and money do you spend on advertising campaigns to attract traffic to your online store? What if you could reduce these acquisition costs to zero?
Each purchase of your products that occurs in another store will cost you nothing in marketing or paid media campaigns, because it will be your partner who takes on the costs of bringing traffic to your online store.
2. Reach different audiences by exploring a new sales channel
How many strategies have you tried to attract new customers and generate leads? Discovering potential customers is one of the main challenges that brands have today. If you calculate the time and resources you spend finding new audiences, you’ll probably end up thinking that you’re not optimizing your current customer capture channels.
Selling your products in other online stores will let you generate new customers without marketing effort. Take advantage of the visibility that your Cross-Store Selling brand partners give you, bringing your products closer to their audience. What if you dedicated more time to developing your products, and less to pursuing potential clients?
Your online store and those of your partners will be synchronized so that you’ll receive in your sales platform all new information about transactions, conversions and leads interested in your brand. It’s easy!
3. Be the first to reach your customers with an omnichannel strategy
So far, many brands have designed their marketing strategies by placing their products as the central point, which is clearly a mistake. It is time to change your perspective, and place the customer at the center of your marketing strategies.
Why centre on the client? The only way to get them to stay with your brand, and not go to your competition, will be to keep them loyal. To achieve this, it is vital that you get to them first and that you adapt to their needs and consumer habits.
What is a retail omnichannel strategy? It’s a combination of sales and marketing of a brand’s products to create an integrated buying experience that includes the experiences of users in every available channel.
This means that the effort to draw them in will be made by you as a brand. For example, if your clients are on a platform such as Instagram with which they are already familiar, you must be the one to get onto Instagram to interact with them, and not try to direct them to another platform that doesn’t feature in their daily routine.
If we apply this to the world of retail, it means that if your potential customers regularly visit the online store of another brand, you must optimize your marketing resources and begin to Cross-Store sell with this brand to get through to them.
4. Retain your customers through multi-channel marketing
Retention is the other basic pillar for understanding the advantages of Cross-Store Selling. Did you know it costs a lot more to attract new customers than to simply retain your existing ones?
Partnering up with other brands so that they sell your products in their online store will make them a part of your customer retention strategy. The aim is for you is to gain new costumers.
Focus your marketing strategies on getting recurring purchases in your online store. Your partners will create their own loyalty strategies, from which your products will benefit, so you can also retain the customers you get through this new channel without making extra effort in marketing.
5. Zero-cost brand visibility
Your products will be shown in the online stores of your partners and the customers’ perception of your brand will align with the image and values of your partners.
How about taking advantage of the reputation of other brands like yours to keep growing?
Advantages of Cross-Store Selling if you’re a retailer
- Save on marketing costs to promote your products online
- Reduce risks by managing your stock – it will be synchronized automatically with your partners’ online store
- Exploit a new sales channel
- Forget about managing orders, it’s already taken care of by the supplier when they receive the purchase order directly from another online store
Advantages of Cross-Store Selling if you’re a supplier
- Automated synchronization of all your stock
- You make the rules – you’ll choose the commission that your partner will take for each sale made in their online store
- Gain new customers, saving you marketing costs
- Order operations are adapted to your current processes
Now you have all the information you need to understand the Cross-Store Selling strategy, how much more time before you implement it? Register today!