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Why You Need Centralized Marketplace Management to Achieve Your Goals

With hundreds of terabytes worth of data floating everywhere on the internet, it’s not difficult to imagine why companies can have a hard time turning that into actionable information for their eCommerce advertising.

Approximately 35% of large organizations are now sellers or buyers of data via formal online data marketplaces, compared to 25% in 2020, according to Gartner. Companies are ready to invest a lot of money to gain access to consolidated, relevant data from verified sources because of the returns they hope to get.

Today, any brand that can take its mountain of data and turn it into a winning strategy is the one in the lead. In this blog, you’ll learn what centralized marketplace management is, why it is such a hot topic for eCommerce businesses right now, and what you can do to gain a competitive edge in today’s cutthroat market conditions.

What is an End-to-End eCommerce Management Platform?

End-to-end marketplace management refers to enterprise platforms built for manufacturer sales teams to manage their digital commerce operations by combining retail, digital shelf analytics, supply chain, and media data with recommended and automated actions.

As an eCommerce brand, the privilege of gaining unadulterated data about your target audience is unparalleled. So, while you can simply go online and buy a ton of data today, its viability concerning your business is where it gets tricky. When an organization ends up with abstract data it can’t turn into a plan, keeping up with a volatile market can become near impossible.

That’s exactly what proper end-to-end eCommerce marketplace management hopes to achieve. While most businesses hope to find success from an omnichannel approach, the same can’t be said for their data needs. The key is to find one solution that takes care of all your data and analytical needs.

With the power of artificial intelligence, management doesn’t have to be manual anymore. AI-enabled software has the capacity to go through millions of data points, spot previously undetected emerging trends, and offer solutions that fully utilize the available features and benefits of digital retail marketplaces.

Taking the Pain Out of eCommerce Systems

While you can run into any number of problems when running an eCommerce business, the 3 most common pain points for brands are:

• Aggregating your data, by not only collecting the information from multiple sources but also analyzing it to spot trends and modify business plans.

The scope of variables across teams can make it extremely difficult to identify, prioritize, and correct issues early on.

• Frequent changes in retail automation, especially when you have an omnichannel presence, take away from growth opportunities and can cause you to lose out on a lot of time and money.

Instead, with a central marketplace management system, you can combat them by:

• Creating a central hub to source, organize, and manage seemingly limitless amounts of data.

• Giving your teams access to valuable data in a simple format, while enabling task prioritization and better business decisions.

• Relying on deep data analytics instead of frantic rule changes on eCommerce platforms, resulting in optimized revenue generation processes.

On seemingly saturated marketplaces like Amazon, your reputation as a verified seller is crucial. A failed launch, some bad customer experiences, or a profit-less sale season can all trigger huge business losses that leave a long-lasting negative impact. A centralized marketplace management system is the way to counter any such problems and prevent them from causing significant damage.

Uncover a Future-Oriented Omnichannel Approach

In terms of profitability, a centralized marketplace management platform can benefit brands by saving them hundreds of hours of work otherwise spent on manual labor, thanks to features like Reporting and Sales Diagnostics. eCommerce businesses are all about fast-tracking market penetration. So, with every new update, such a platform will have built-in systems that oversee all online operations across retail platforms.

Having a full 360-degree view of your business at all times is a necessity today, not a luxury. Without being able to track each and every change in the supply chain, buyer behavior, and sales on every platform you are present on, you lose out on millions of dollars in potential profits.

For sales managers, a centralized marketplace management platform allows them to quickly identify the drivers of the sales decline at the product level by showing detailed information about the issue, and also provides a recommendation to solve the problem. Another issue that it solves is when sales and supply chain numbers don’t tie perfectly, so the discussion becomes about the source of the data and reconciling the numbers. In this case, a single source of truth for all the cross-functional team members is vital so centralized information from various cross-retail sources in one user-friendly interface with actionable recommendations easily solves that issue.

Another key focus for Sales Managers is the need to see and control the Buy Box due to its high impact on conversions. With a Buy Box tracking dashboard offered in a centralized marketplace management platform, managers can much more easily monitor who the sellers are, what percentage of ownership they have over sales, projected loss of sales (which is important for managing supply chain issues), and the tracking of price history. In general, Sales Managers need to know if they are spending money on advertising that is driving customers to products where they don’t have control over the Buy Box to reduce wasted ad spend.

All eCommerce account managers understand that content quality for their product listings is a significant driver of their sales performance, which is why a centralized marketplace management tool that provides content scoring to identify areas of opportunity to drive product sales is so critical to improving the health of their listings. Key features like alerts tell them about items they are trying to promote that would not perform due to poor star ratings.

Once you learn which elements of your business you can leverage, your digital shelf success depends only on efficient execution. One such intelligent marketplace management software is Pacvue Commerce, which is a first-to-market solution to optimize your sales, inventory, listings, and promotions.

Pacvue is extending the successful approach from its advertising software solution to sales and operations capabilities for eCommerce teams with features, such as ticketing automation to avoid lost revenue, buy box monitoring to maintain control of every Add to Cart moment by monitoring the 3P ecosystem, and ad optimization to drive your business with integrated media, optimized keyword bidding based on inventory and profitability.

The home page collects real-time metrics to offer your teams a clear, simplified view of the business’ performance. Based on APIs and dashboard visualizations, it automates tasks that otherwise take hours of manual effort, minimizing errors with built-in ROI and on-shelf availability (OSA) measurement.

As a business investment, these offerings are relevant to business analysts, sales managers, marketing managers, and eCommerce supply chain experts alike. The answer is an end-to-end centralized marketplace management platform for promotion, media, consumption, and analytics.

Key Takeaway

Whether you are responsible for aggregating data or growing share of voice, crafting a sales strategy, or improving ad conversions, you need a centralized marketplace management system for your brand. With plans of soon adding sales and market share, along with Digital Shelf analytics to the list of features, Pacvue Commerce is on its way to becoming an all-in-one solution for eCommerce brands planning to succeed in 2022.

By unifying all of your retail data silos and integrating them with sales and operations, you can empower your brand to make smarter decisions every day. Optimize your sales, inventory, listings, and promotions for a retail-ready digital shelf with a demo of Pacvue Commerce today.

About Pacvue

Pacvue is the enterprise software suite for eCommerce advertising, sales, and intelligence. Combining end-to-end retail data with the tools needed to take recommended actions, brands and sellers use Pacvue to grow their business across Amazon, Walmart, Instacart, and other marketplaces.

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