Walmart continues to seize the e-commerce sphere steadily and confidently. Nowadays it is considered to be a real giant not only in brick-and-mortar trade but also in online sales sector after Amazon. Though Walmart hasn’t caught up with Amazon in sales scale, it moves forward towards quality enhancement, learning from the failures of Amazon. Walmart eligibility policy is very selective and not everyone can sell on the platform in contrast to Amazon. It builds a reputation of a marketplace for reliable and proven sellers. Walmart continues snapping up and acquiring different businesses such as Bonobos, Moosejaw, Jetcom, ShoeBuy, etc. Performing these acquisitions, Walmart wants to leverage its assets, expand online services and provide new opportunities for sellers and customers. According to the latest reports, the number of unique visitors on Walmart has grown up to around 300-400 million per month with an assortment of more than 80 million products. All these factors indicate that Walmart era of prosperity has begun, and online retailers can initiate the process of raising awareness of their brand via Walmart online stores and marketing tools.
BENEFITS OF SELLING ON WALMART PLATFORM:
- Absence of set-up and monthly fees.
- Transparency of the launching processes.
- Constant sales growth.
- Expansion of services and providing new e-commerce opportunities.
- Amiable and outstanding support service.
- Building Brand awareness and obtaining customer’s loyalty via through in-store Walmart experience (Amazon lacks this segment).
HOW TO EARN CUSTOMERS’ LOYALTY ON WALMART
It’s not a secret that raising brand awareness and gaining customers’ loyalty is among the key objectives of every successful business. The likelihood of customers purchasing your products depends on the following factors:
- Buy Box winning
- Seller and product ranking status (positive reviews)
GIMMICKS ON WINNING BUY BOX
The terms of winning Buy Box are different on various marketplaces and the competition is very high. But fortunately, Walmart platform is not so overcrowded as others, and that’s a bonus to hit the target. Walmart supports Low Prices policy, that’s’ why the competitive price is one of the key factors in winning Buy Box, but not the single one. To cut it short, there are 3 core requirements for Buy Box placement:
- Setting up the most competitive prices (the lowest among rivals).
- Keeping items always in stock.
- Attractive shipping costs (low or cost-free)
Following these steps will help you to get your place under the sun and be a constant Buy Box winner.
MAINTAINING A HIGH-RANKING STATUS
Positive reviews influence on creating a good reputation. Walmart cares for customers’ satisfaction and needs, hence bad reviews can cause pushing your listings down, placing behind the rivals and therefore losing your profit and brand popularity.
Below are basic tips on how to support good reviews and high-ranking status:
- An excellent and clear description of the products (avoiding vague information).
- Quick shipping and delivery.
- Quality packaging.
- Impeccable customer support.
GAINING BRAND AWARENESS AND BOOSTING SALES
Advertising is a driving force for continuing growth in image attractiveness and sales spree. Walmart is constantly improving online advertising opportunities, allowing sellers to single out products and support the recognizability of brands. Advertising within Walmart platform gives you higher conversion rates and get your brand noticed. Walmart Media Group has a multifunctional sponsored products program WPA (Walmart Performance Ads). The WPA self-service platform is a real asset that will lift your sales to the top level and increase the visibility of your products among other 80 million items. The sponsored product ads are based on cost-per-click (CPC) model (you pay nothing until a customer pushes the button ad).
The WPA platform offers a complete analysis of ad campaign performance, full tracking of all the statistics data. Ad Campaign requirements:
- Minimum Budget – $1000
- Daily budget – $100
- Manual or Automatic targeting
Walmart provides the following ad placement options:
- Native and Banner Ads
- Product listings ads
- Organic search page
- Product Category page
- Catapult ads
The effective mix of our marketing tools will drive your brand awareness! You can boldly trust Webycorp – your true wingman in reaching the most rebellious heights on Walmart Platform. Feel free to contact us!
