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You’ve probably already considered selling on Amazon but its way easier than you think.
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With a growing customer base, 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 ePlaybooks article, we will run through 8 Walmart selling strategies on how to sell products on Walmart and how to increase online business revenue.
Selling on the Walmart Marketplace can provide several benefits for your business.
If you’re wondering what perks come with selling on Walmart, here are a few reasons why you might want to consider selling on the platform:
Perhaps one of the most direct benefits of selling on the Walmart Marketplace is access to a large customer base. By selling on Walmart, you get access to millions of potential customers who visit the platform regularly. Walmart's vast reach allows you to showcase your products to a diverse audience, increasing your chances of attracting new shoppers and expanding your customer base.
Unlike some other online marketplaces, Walmart Marketplace adopts a fair pricing model. You don't have to pay monthly fees or subscriptions. You will only be charged referral fees when you make a sale.
Leverage Walmart's brand authority
Walmart holds significant brand authority as one of the world's largest and most recognized retailers. Leveraging Walmart's brand authority can give your products a competitive edge and increase your customer’s confidence.
The Walmart Marketplace has a less crowded competitive landscape than many other online marketplaces like Amazon. The platform carefully selects its sellers based on strict criteria, creating an exclusive group of merchants. This limited competition gives your products a better chance to stand out, capture attention, and pull in sales.
Ready to increase sales on the Walmart marketplace? Here are a few strategies that you can implement to increase sales and become successful on the Walmart marketplace:
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:
Optimizing your listing should be a continuous process to ensure you remain visible and attract ready-to-buy customers. This can be time-consuming.
So, you can work with experts at ePlaybooks to ensure your listing stays updated and discoverable while you focus on other important areas of your business.
With Walmart's Listing Quality Dashboard, you can access your performance, review Walmart's improvement suggestions, and improve 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 increase sales.
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.
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-selling 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 that 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.
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 on your suppliers and make sure your products get to the Walmart ecommerce fulfillment center at the right time.
If you want to fulfill your orders quickly and maintain high shipping standards, you can enroll in Walmart Fulfilment Services.
Walmart Fulfillment Services (WFS) allows Walmart to handle your warehousing, packing, and shipping, while you focus on other areas of your business. This gives your listings a boost in visibility and trustworthiness. With WFS, you get a fast 2-day shipping badge on your product listing, which is great for attracting and converting customers.
WFS also reduces logistical complexities, lowers return and cancellation rates, and increases your chances of winning the Buy Box.
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:
Walmart will give sellers 30 days to improve if they are unable to meet these standards. However, if this does not happen, Walmart may suspend seller privileges.
The best-selling strategies are customer-centric. 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:
Here are some customer support metrics you should also pay attention to:
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.
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.
Without tracking your performance, you are simply flying blind. You can check your Walmart Seller Center to get detailed analytics that will help you refine your strategy.
You want to check your performance scorecard to monitor fulfillment, customer service, and shipping metrics. Advertising reports show you how to adjust your ad spend and target based on performance.
You can also get tips on your Listing Quality dashboard to improve your product listing and improve discoverability.
Ensure you test and iterate regularly based on reports. What worked a month ago may not work today.
Selling on the Walmart Marketplace opens up exciting opportunities for online retailers to reach millions of customers. With the right strategies in place, you can boost your sales, grow your brand, and scale your business faster. At ePlaybooks, we’re your trusted companion, ready to guide you through every step of the Walmart selling journey and help you succeed.
Here's what Walmart’s selling strategy looks like:
There isn't exactly a one-size-fits-all strategy to increase sales, whether it is a physical store or an online marketplace. However, the best strategies touch key areas of business, including customer satisfaction, operations, pricing, and data-driven decision making.
So the best strategy to increase sales is to deliver value through quality products, pricing, great customer service, and marketing, backed by data and continuous improvement.
Walmart’s unique selling point is to offer low prices every day on a wide variety of products, both in-store and online. This has helped Walmart become one of the largest and most trusted retailers in the world. Customers trust that Walmart will have what they need at a competitive price, when they need it.
You’ve probably already considered selling on Amazon but its way easier than you think.
Call Us Now