Digital Marketing for Marketplace: what is the best strategy?

Marketplace

There are many possibilities for customer acquisition channels through Digital Marketing; Blue World City separated the main ones, which are most used by successful marketplaces

A good marketing strategy is a key element to the success of a marketplace. Attracting visitors who will become customers, continuously and exponentially, is the oxygen for you to generate value for your salespeople.

After all, this is a virtual mall. And without people visiting the mall – that is, traffic – there are no buyers and no billing. In this sense, there are many possibilities to attract potential consumers.

Digital Marketing is one of the most scalable channels for customer acquisition. It makes it easier to measure results and control ROI (return on investment).

Choosing Digital Marketing Channels for the Marketplace

A marketing channel is a specific means of attracting customers. In other words, it is a medium used to promote your business. It is worth noting that choosing the channel is only one aspect of your marketing strategy. It is also important to define the investment, the language and the expected return, for example.

Also, each channel has specific characteristics. You can’t use exactly the same campaign on email and Instagram, for example. Each medium has its own ways to communicate with the public, and you must know how to use them in the best way.

In the book Traction: A Startup Guide to Getting Customers, author Gabriel Weinberg shows that there are up to 19 channels of Digital Marketing. The entrepreneur also developed the framework that we present below, which can help you list which channels are most relevant to your marketplace.

With that, there are many possibilities of customer acquisition channels through Digital Marketing. In this article we separate the main ones, and which are most used by successful marketplaces. We’ll give you valuable tips about each of them below.

Keyword planning

Keyword planning isn’t exactly a marketing channel for the marketplace. However, it is a very important step, which helps to improve your performance in channels such as SEO and Content Marketing.

Keywords or keywords are terms that can have one or more words and are often used in search engines such as Google. Some keywords, like “Digital Marketing”, for example, have a huge amount of monthly Google searches.

That’s why it’s very important that you think carefully about the words used on every page of your marketplace. This is because, in this way, it is possible to improve the position in which your platform appears in search engines.

So the tip is: use the keywords in your marketplace texts that really agree with the content presented on the page.

IF THE SEO is one of the main marketing channels to the marketplace. This Search Engine Optimization technique is optimization for search engines. In other words, they are strategies to improve your site’s placement in Google results. That’s because being among the top positions can bring more visitors and customers to your marketplace.

One of the types of Search Engine Optimization is On-Page SEO. That is, factors within your marketplace that affect you’re ranking. The URL and page title are the most important elements of On-Page SEO. So make sure the title makes sense with the content on the page. And, if possible, use a keyword that has a large number of monthly searches.

If the content of the page is an article, for example, it is also important to rank it, dividing it into topics. It is best to use heading tags <h1>, <h2>, etc. to tell Google which are the most important headings (h1) and subheadings (h2, h3, h4…).

Factors such as website speed and page load time also influence SEO. Also, in a marketplace, it is essential that product descriptions are well formulated, as well as the description of services and the profile of sellers and service providers. Ideally, these elements should mention the same keyword as the page title.

Therefore, I suggest that you have a tutorial for sellers and service providers registered in your marketplace. Because, in most cases, filling in the descriptions is their responsibility. And that directly affects the performance and visibility of the platform.

digital marketplace marketing

Content Marketing

Content Marketing is a marketing channel for the simple and accessible marketplace. For this, you can create a blog with articles, guides, ebooks, and tutorials. Another option is to start a YouTube channel. But, remember that any content produced, whether on a blog or on Youtube, must be associated with a keyword.

The content can be made by yourself, and should always be related to your marketplace. So, if you undertake a product marketplace, you can review the items. Showing the pros and cons of the products sold and creating tutorials on how to use them are other suggestions. Similarly, if you have a service marketplace, you can provide tips on comparing and evaluating professionals.

In this logic, Content Marketing is a way to convert your website visitors into Leads (possible customers). To make this conversion, you can ask visitors to register data such as name, email and telephone number. This is usually done in exchange for some content, such as an eBook. Or, it can be done through a subscription to receive your newsletter.

After the visitor provides his data, he becomes a Lead. And then you can put it into a Marketing Automation flow. That is, a sequence of emails to nurture the Lead until he becomes a potential customer.

Social networks

Another well-known marketing channel is social media. You can gain organic relevance on the networks that make the most sense for your marketplace. For this, it is important to know the specifics of each one of them.

Instagram, for example, is a good channel for those who have a product marketplace with a lot of visual appeals. But if you have a B2B marketplace, LinkedIn might be a more assertive choice.

Regardless of the social network, it is necessary to maintain a minimum frequency of posts. But keep in mind that the organic results of this channel are medium to long term. Thus, it is possible to make your followers become sales or entries in your marketplace.

And to track such conversions, keep an eye on your social media metrics. However, focus on the results that really matter, such as: number of clicks and sales. After all, likes can guarantee fame, but they don’t bring revenue to your platform.

Paid media

As we’ve already said, social networks organically generate results in the medium and long term. However, paid media is a marketplace marketing strategy that can accelerate this process.

To do this, you can create ads on Google Ads or on social networks. One possibility is to advertise an article on your blog, or a page for a specific product in your marketplace. It is still possible to advertise the profile of a service provider or the search page of a certain category such as “plumbers” or teachers”.

An advantage of paid media is the possibility of segmentation. That way you can create targeted ads for each audience. These targeting can be by region, age or interests.

In this channel, you need to constantly evaluate metrics. That is, you must know how many clicks and customers are generated. In addition, it is recommended to monitor the cost of acquisition of customers (CAC).

How much does marketplace marketing cost?

Regarding the costs of marketing for the marketplace, the best thing is to start by spending little. For example, you can invest R$500 per month to test a certain channel.

One option is to start with Content Marketing. So, you can hire a freelance writing professional to create articles for your blog. So, it is possible to test between 3 and 6 months if this strategy generates results.

Another alternative is to invest R$500 in paid media on Google Ads. Then, make a guess as to how many visitors are generated by this channel. And, how many of them would be converted into customers.

Then, based on the results achieved, check the conversion rate, the amount of clicks and customers. These data will help you in making a decision. That is, whether the investment in this channel should be increased or not.

An important tip is not to give up on the first try. The ideal is to do several different experiments and compare them. Therefore, it is possible to optimize the marketing of channels to improve performance. Or, if that’s the case, discard some means of customer acquisition that isn’t working well.

Marketing funnel for marketplace

The marketing funnel is a very effective concept for gaining customers these days. Currently, traditional marketing, marked by invasive advertisements and advertisements, is outdated. Thus, Inbound Marketing emerged, whose focus is the customer’s needs.

To facilitate the application of this strategy, the marketing funnel is used. In other words, a representation of the evolution of a visitor to become your company’s customer.

Marketplace Marketing Funnel

The first step of the funnel is that of visitors. At this stage, your potential customers are still not looking for a solution. So your goal should be to help them identify the problem or desire.

For this, your marketplace can offer content with simple and general language. Social networks and blogs are examples of channels suitable for this step. That’s because they usually reach a large number of people.

The second step is where the Leads are. That is, not all visitors to your website will actually be interested in becoming customers of your marketplace. But, those who have some interest can become potential customers.

To turn visitors into Leads, you need to qualify them. In this sense, you can use a Marketing Automation strategy to send them educational content about your marketplace.

Finally, the third stage is formed by the customers. For your Leads to become customers, they need to identify that your brand is the best solution to their problem. So, you need to advertise the products, services or benefits offered by your company.

Don’t forget to measure your marketing funnel results at least monthly. Pay particular attention to the conversion rates between each of the steps. And, also analyze the differences between the rates generated by each channel.

Conclusion

Marketplace marketing is the main factor that defines the success of such a platform. That’s because generating traffic and customers for sellers or service providers is the biggest responsibility of those who own a marketplace.

This attraction needs to be continuous and scalable, and this can be done by Digital Marketing. From this perspective, there are several possibilities of marketing channels for the marketplace. Therefore, it is necessary to test them and evaluate which ones are the most suitable for your platform.