March 29, 2022

Walmart Selling Strategies to Increase Sales

The Walmart marketplace is an important place to be as an E-commerce retailer. Learn all you need to know about strategies to increase sales on the Walmart marketplace.
Walmart Selling Strategies to Increase Sales
Walmart Selling Strategies to Increase Sales

With a growing customer base and low competition, an excellent reputation, and millions of unique online visitors monthly, the Walmart online marketplace is a platform that allows online retailers to grow and expand their business within a short period. 

Thanks to its sophisticated features, online retailers and business owners can sell products on Walmart and maximize their potential. 

However, to become a Walmart seller that is effective and ultimately successful, it is important to know and implement effective selling strategies for selling on Walmart

In this article, we will run through 8 Walmart selling strategies on how to sell products on Walmart and how to increase online business revenue

Top 8 Walmart selling strategies to increase sales

Here are some of the best selling practices to grow sales and revenue in the Walmart marketplace. 

  1. Optimize product listing to increase search visibility
  2. Aim for the lowest and most competitive prices
  3. Leverage Walmart Sponsored Product Ads 
  4. Avoid running low on inventory 
  5. Pay attention to your Order Defect Rate (ODR)
  6. Deliver the best customer service 
  7. Draw attention to your product listings with strategic promotions 
  8. Build your reputation and credibility on the Walmart marketplace 

Optimize product listing to increase search visibility

To increase search visibility, reach your target audience and ultimately get to the first page on the Walmart marketplace, you need to optimize your product listing. 

Not only does optimizing your product listing increase search visibility but it also helps you rank better, qualifying you to win the Buy Box. Here are simple ways to optimize your product listings and increase search visibility in the Walmart online marketplace: 

  1. Optimize product titles: Your Walmart product title is the first thing customers get to see before clicking on your product. Your product title should immediately tell them what your product is about. It should include relevant details like the color, size, and other relevant product dimensions. To get an idea of how best to write your product title, you can check that of your competitors. Ensure it is short and concrete. Lastly, include relevant keywords. 
  2. Optimize product description: Your product description tells customers why your product is the best fit for their needs. Creatively communicate the features and benefits of your product, including the most important details. Also, infuse relevant keywords to improve search rankings. 
  3. Use high-quality images: To attract new customers and increase your conversion rate, it is important to pay attention to your product images. Ensure they are high quality and match the image requirement of the platform. 
  4. Include the correct product category: When you upload a product type on Walmart, it is important to include the corresponding product category. If you sell clothes, then your product category will be the “Clothing Category”. Placing your product under the wrong category will prevent customers from finding you, decreasing your conversion rates and sales. 
  5. Include shipping details: The Walmart algorithm factors your shipping fees and shipping days to rank your product on search engines. If you enable Walmart Free Two-Day Shipping, your products will have a better chance of ranking higher than others. 

Walmart Listing Quality Dashboard 

With Walmart's Listing Quality Dashboard, you can access your performance, review Walmart's improvement suggestions, and improve on your product listing. 

The dashboard reveals your average listing quality as well as a product-by-product breakdown showing the strength of your listing. If you click on “Details'' for a product, Walmart will take you to the “Items Detail Page” where you can access opportunities to improve your product content and pricing. 

Walmart will also show you which part of your content (product title, description, images, etc) needs improvement. 

With this tool, you can maximize potential, increase organic rankings and sales. 

Aim for the lowest and most competitive prices

Customers want to get the best products at the lowest possible prices. This is something that Walmart considers very seriously. It is also a major determinant for winning the Buy Box. If your prices contradict Walmart's pricing rule, your product may not get published. Worse still, your account could be suspended. 

When setting your prices, consider your product prices and shipping costs to ensure you are still making a profit while setting low prices. 

Leverage Walmart Sponsored Product Ads 

With millions of searches on the Walmart marketplace, you can leverage Sponsored Ads to get your products in front of your customers. With Sponsored Ads, your products can appear in high-traffic placement areas such as Search In-Grid, Product Carousel, and Buy Box. 

Walmart considers factors like product title and description, product category, and frequency of clicks for ranking Ads. 

Running sponsored Ads increases search visibility. It also increases velocity for your best seller products and seasonal items. 

There are two types of Walmart Sponsored Products Campaign: Automatic campaign and Manual campaign

Automatic campaigns give your product maximum exposure. They are best for brands that are new to advertising or brands who want to launch a product. 

Manual campaigns allow advertisers to handpick their keywords to bid on. They are best for brands that know their customers and have some history selling on Walmart. 

Avoid running low on inventory 

You may have the lowest prices amongst your competitors, but having no products in-stock will easily turn your customers to your competitors and decrease your chances of winning the Buy Box. Ensure you monitor your inventory levels and avoid running low on inventory. If you are using Fulfillment by Walmart, ensure you keep close tabs with your suppliers and make sure your products get to the Walmart e-commerce fulfillment center at the right time. 

Pay attention to your Order Defect Rate (ODR)

Your Order Defect Rate (ODR) is an important seller metric that determines your performance in the Walmart marketplace. 

The Order Defect Rate metric takes into account Cancellation Defects, Delivery Defects, Return Defects, and Customer Complaints. 

Walmart sellers are expected to meet the following performance metrics: 

  • 90-Day Order Defect Rate <2%
  • On-Time Shipment Rate >99%
  • Valid Tracking Rate >99%

Walmart will give sellers 30 days to improve If they are unable to meet up with these standards. However, if this does not happen, Walmart may suspend seller privileges. 

Deliver the best customer service 

The best selling strategies are customer-centric strategies. Delivering the best customer service improves buyer trust and attracts repeat customers who can become loyal fans of your brand. Plus, they are more likely to drop a good product review on your page. Also, loyal customers improve word-of-mouth marketing, attracting new customers. 

Here are a few ways to get your customers coming back to your online store: 

  • Be realistic and honest with your promised delivery. Nothing frustrates a customer more than dashed expectations. 
  • Reply to customer complaints and queries as quickly as possible. 
  • Include enough information about your product in the product description. 
  • Ensure products are delivered on time

Here are some customer support metrics you should also pay attention to: 

  • Shipping standard rate should be 99% or greater. This is to ensure that you have good organic rankings.
  • Product shipped rate should be at least 99.5%.
  • Product cancel rate should be under 1.5%.
  • Keep your returns rate under 3% and process all your refund requests within one day of getting a receipt from buyers.
  • Your 90-Day Seller Rating metric should be equal to or less than 90%.
  • Customer service escalation rate should be less or equal to 0.5% 
  • You should answer at least 60% of customer calls (you shouldn't get below 4%) and 90% of customer emails within one day.
  • Each order file needs to be confirmed and received by Walmart one hour from getting the receipt. The electronic notice of shipment confirmation has a four-hour window opening. 

Draw attention to your product listings with strategic promotions 

One of the best ways to draw eyes to your product listing and increase sales is to run promotions. 

You can run promotions under one of these badges: Clearance or Reduced

Running the Clearance promotion displays the CLEARANCE badge which tells customers that they are getting a better than average deal on the product. This promotion can help you get slow-moving products or seasonal products out of the way. 

On the other hand, running the Reduced promotion shows customers the REDUCED PRICE badge of $5 off on products more than $100 or a 5% off on products lower than $100. This type of promotion helps give your product a boost. 

Build your reputation and credibility on the Walmart marketplace 

Walmart has a powerful reputation and consciously picks bestsellers to sell on the platform. They also ensure that sellers maintain good credibility and reputation while selling on the platform. 

To maintain your credibility, ensure that your fulfillment process is a smooth procedure from start to finish. 

Walmart also requires that you maintain a feedback rating of 99%. This is in addition to a customer rating of 4.5 stars. 

Maintaining your credibility not only ensures you stay relevant on the platform but also builds buyer trust. 

Final thoughts 

Selling on the Walmart marketplace presents so many opportunities for online retailers. By implementing the right selling strategies, you can make the most out of the platform, increase sales and expand your business in no time. 

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