The Rules of the Game When Selling on Marketplaces and What to Measure on Your Dashboards.
In recent years, marketplaces have become one of the main tools for online sellers, and due to this growth, exposure on these platforms has become critical and highly competitive for success.
https://www.youtube.com/watch?v=JKcUyCVrm54
Hello Hubspot community, today I’m bringing you the 4 pillars we’ve identified at Smart Dashboard BI to increase your sales on Mercado Libre, as well as the new dashboard with tips we created to help you identify a general diagnosis of your current status with a scan of your seller account.
The 4 Pillars of Mercado Libre to Increase Exposure
Smart Dashboard BI - Seller Account Diagnosis for Mercado Libre
Reputation: Know your account rating by fulfilling the purchase orders you receive; it’s the reflection of your work to buyers, and they seek trust that their package will arrive on time and in good condition as promised in the listing. Identify the number of complaints, late deliveries, and cancellations. Failing to resolve these issues and mediate through the system will lower your exposure, which will be difficult to recover until after 60 days. Post-sale reviews also count, listen to improve and avoid repeating mistakes. Monitor your reputation constantly and build trust, so you’ll have more visits and/or frequent purchases from the same users.
Catalog: Upload a product catalog with all the general and technical information you can provide; the more information you share, the better users can imagine its use and clarify their doubts. Use keywords in titles with empathy, as you would when searching for something to buy. Avoid putting your codes in descriptions or titles; for that, there are other fields like SKUs or variations. Identify which products sell the most and ensure you have updated inventories by constantly evaluating the sales velocity or inventory turnover of each. It’s also important to know products with excess inventory or low turnover to offer discounts or a strategy to increase their exposure. Calculate your margins carefully to set a price that leaves you with profit after platform commissions, shipping costs, and refund costs. Monitor the rating of your listings; over time, products with less than 4 stars are better turned off to avoid lowering your reputation with any mediation for something you already identified. Prepare your catalog in the best way possible, even if you can take advantage of direct shipping from Fulfillment.
Traffic: Constantly measure the traffic volume your products receive and compare month-to-month along with conversion rates. Know daily averages, maximums, and minimums over the last 15 days. Analyze if you have paused listings that previously generated traffic and good sales to decide whether to restock. Consider using advertising to increase product exposure by following the functionality of campaigns appropriately with sales behavior and opt for those that need a boost, always keeping an eye on your profit margins. Stay informed about the platform’s upcoming promotions and consider joining them; the exposure or traffic they provide increases considerably, although you’ll need good inventory to maintain them.
Service: Answer all the questions you receive, assign staff by shifts to get a better response time, identify the products that are generating the most questions, and find ways to update them so your listings can answer them on their own. Know how many questions you receive per day and prepare to handle a similar number throughout the day. Find ways to improve response times during the hours where you’re falling short. Everything counts for the exposure algorithm with your account, and the better your results are in answering questions, the more likely you are to appear higher in buyer searches.
And finally, measure your results; use some tool to avoid wasting time on data extraction and instead invest your time in analyzing and making better decisions.
Smart Dashboard BI
We are a small spin-off and SaaS Business Intelligence company founded in 2020 in León, Guanajuato, Mexico, that seeks to help businesses make better decisions in their digital businesses through the use of dashboards and data analysis.
Smart Dashboard BI - Sales Last 4 Months - Mercado Libre
Check out our Mercado Libre dashboard on our website
Mercado Libre Certification.
Smart Dashboard BI is a no-code solution focused on data analysis and visualization that connects with your digital channels to process data and generate valuable information in real-time, all through automated Online Dashboards using Big Data techniques.
Thank you all for this space to share the 4 articles and choose us as the startup of April. Thank you Hubspot!
Oscar Rocha
Product Manager
Smart Dashboard BI
Website: smartdbi.com
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P.S.: Remember to check out OP 
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