[Digi Transform] 4 Reason you should have your own online store
2020-04-06 16:39
Heard from many people said that they can sell on Amazon, Taobao, Tmall, or HKTV mall, that's why they don't need to have their own online shop. 

While at the same time, we help many merchants to setup their own store after they sell things on these marketplace. You may guess the reason why they work another way round is because of the budget they need to spend when their business went up. Not so, and I always say that spending that budget on marketplace worth because you can read from their financial figures that they spend quite an amount on marketing their marketplace too! The reasons I always recommend to have a self branded market place are as following, 

  1. Guiding all your marketing budget to your own brand, and your brand will become your business' asset and source of revenue
  2. Building up your own customer database which you usually not able to obtain from marketplace. This is important for re-marketing and building customer loyalty.  
  3. Put your content in your own store as a key component of content marketing. This in long run, improve your visibility and creditbility. 
  4. You can control your gross profit margin and give you an edge when negotiating with the marketplace. 
But I am not meaning that you should leave the marketplace. Why not both? 

It is hard to generate traffic alone when you first start your online store. The Key is to build your sales funnel, so that when you get the traffic from your marketplace, you can turn it into your customer database and your future traffic to your own store. How to build your sales funnel? Well, that's another big topic for another blog post.