To start selling on an online marketplace is a project that requires the combined effort of different stakeholders in your company: sales, IT, logistics, customer service, finance, legal, to name a few. That requires coordination and a structured approach. Here are a few steps in the process that you can expect:
- Contract / Terms & Conditions
Depending on the marketplace, you might need to agree to standard Terms & Conditions, or a customizable paper / electronic contract, or a combination of the two. Learn more.
2. KYC procedure
As the marketplace or its Payments Service Provider (PSP) will be collecting funds for you, they need to know who you are. Learn more about the Know Your Customer (KYC) process.
3. Catalog integration
If you are selling products which are not yet offered on the marketplace, then your product catalogue (partly or entirely) needs to be added to the marketplace product catalog. Learn more about product creation and the different options you might have at your disposal.
4. Offer updates (price / stock management)
Certain information in your listings will need constant updates – for example, price, stock availability, delivery time, and other information. Learn how you can do this and remain constantly up to date with your offering.
5. Order management
Your ability to quickly receive and process orders, as well as update order status, is critical to your marketplace operations. Learn more about order management and the different ways to do it.
6. After-sales operations
At this stage your capacity to communicate with customers, to process claims and to manage returns comes into play. Learn more how this can impact your account health and why it’s important.
7. Financial Flow
It’s also important to get paid, right? Marketplaces have a settlement process during which they pay out the due funds after substracting the fees they charge. Learn more about how that works.
Need help with marketplace onboarding? Reach out to Marketplace Agents for a free consultation session.