If you are planning to sell online, there are generally two options for your business: (a) Selling via online marketplaces (b) Setup your own branded webstore
If you are planning to sell online, there are generally two options for your business:
(a) Selling via online marketplaces
(b) Setup your own branded webstore
How do you choose or decide? You can find out which scenario you fit in below, you can hardly go wrong with this.
Read also: Understanding more about online marketplaces
If you are familiar with the product, but you don't know how to market it online, please join online marketplace.
If you are half-baked in every area, please sell via online marketplaces too.
If you are able to drive traffic, furthermore if your marketing cost is lower than the fees / margin to marketplace operator, it is obvious that you should setup your own online store.
If you are neither familiar with the product nor digital marketing, you have to learn the fundamentals first.
As a conclusion, if you are not experienced enough, you wouldn't go much wrong starting with selling via online marketplaces. In the long run, you would need to build your own online store in which you have the full control of your online business strategy.
This article is translated and edited from Smart M.