Does your store have effective Walmart advertisement strategies that optimize conversion rates while creating a rich customer experience? This growing marketplace provides top sellers enormous opportunities to reach their target customers and elevate their businesses. The correct Walmart sales approach determines whether your visitors become buyers or abandon their carts.
Read on for our guide to five marketing methods that make you stand out from your competitors and attract new clients. Implement them to get the most from your campaigns and increase revenue. Let’s get selling.
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Walmart Marketplace Statistics for Sellers
The COVID-19 pandemic accelerated online shopping to the new normal for many households, boosting the growth of e-commerce platforms. Walmart Marketplace’s sales increased by 74% during 2020’s first quarter, making them the world’s second-biggest internet retailer after Amazon.
Here are some other statistics revealing the platform’s potential for sellers:
Monthly Unique Views
The site attracts more than 120 million monthly visitors, who browse approximately 150,000 stores. According to Walmart, each seller on its platform receives about 27,000 monthly views, with those on Amazon attracting 2,100.
As Walmart Marketplace is less saturated, its stores get 13 times more visitors than Amazon shops. With fewer businesses fighting for attention, the chances of making a sale increase, and the cost-per-click (CPC) decreases.
Products for Sale
Customers can browse 50–60 million items in more than 35 categories on the platform’s online shelves. All merchandise is new, stocked, and ready to ship.
The top-selling products on Walmart for 2022 are:
– Personal care products
– Cleaning materials
– Articles related to medical care
– Ladies’ fashion
Average Product Prices
Most items on Walmart Marketplace cost between $10 to $150. Some high-ticket merchandise in the electronics, furniture and automotive categories does reach the thousand-dollar mark. The retailer aims to provide top-quality products at a reasonable cost and maintains strict pricing policies for its sellers. Walmart may delist the goods of any store not following its “low price guarantee.”
Sales-Boosting Walmart Advertisement Strategies
Are you ready to get your merchandise in front of more customers and drive sales with your ads? Implement these Walmart advertisement strategies and optimize your campaign structure for the e-commerce platform.
1. Focus on Competitive Pricing
In the current world of online sales, it’s more influential than ever to offer high-standard products at low costs. Following this approach draws in new transactions and wins existing client loyalty. Competitive prices increase the likelihood of someone clicking on your ad rather than another seller’s. Keep in mind the two guidelines that all stores on Walmart Marketplace must follow:
- Price parity rule: Should customers significantly save by purchasing the identical product from the seller’s shopfront on a competing website, those items are unpublished.
- Price leadership rule: The retailer may delist goods appearing drastically cheaper on another platform, regardless of the seller.
Another incentive for aggressively listing your merchandise is to win a Buy Box. When several stores offer the same products, Walmart groups them together on the same page. The seller with the best pricing and adequate inventory earns the top spot and the “Add to Cart” button. The Walmart Buy Box is invaluable advertising; it gets your products more attention and drives conversion. You also won’t incur costs if you don’t make any sales through this method.
2. Provide a First-Rate Customer Experience
Walmart stresses how vital reputation is when selecting its sellers. The retailer ensures it only chooses the best stores that fulfill its consumers’ demands and maintain feedback ratings of 99%. Vendors have to provide an enhanced shopping experience for their customers to stand out amongst this tough competition. Along with offering prompt, efficient, and courteous service, aim to achieve the following benchmarks:
- Ensure your on-time shipping rate remains at 99% or higher over 14 days.
- Your product shipped rate should be at least 99.5%.
- Cancellation rates must be less than 1.5% in two weeks.
- Aim to maintain a return rate of under 6% over 90 days and process refunds within 24 hours of receipt.
- Valid tracking rates should be greater than 99%.
- Keep your customer service escalation rate equal to or below 0.5%.
- Answer at least 60% of client calls. A figure below 4% risks account suspension.
- Respond to 90% of customer emails within one day.
- Acknowledge orders within 15 minutes to two hours of placement.
- Send customers confirmation of shipment notices within four hours.
3. Optimize Product Listings
Compelling product listings convince visitors to click on your store and are excellent avenues for conversions. Walmart sellers should provide clear, concise descriptions that encourage instant purchases while keeping customers focused on an item’s features.
To enhance visibility on the results page, sellers should also optimize product details for Walmart’s search algorithm. Focus on these components to improve the quality of your listing:
Use a Specific Product Name
Ensure your product names are 50–57 characters long and unique to your Walmart store, as creative titles improve organic rankings. Use the formula below to stand out in the retailer’s search results:
Brand + Style Name + Descriptive Characteristic + Pack Count
If customers may search for specific colored merchandise, include it in the title. Should you offer various choices, list them in the description section.
Highlight Key Features in the Short Description
This section allows you to sell your product by emphasizing specific details in a short, easy-to-digest description. Include 3–10 benefits of your item in a bullet list, stating the most important features first. Avoid repeating information included in the product name, and don’t copy details from other sites, including yours.
Incorporate Keywords in the Long Description
Use 250–300 words to explain your product in the long description and incorporate relevant keywords. Entice shoppers already interested in your item to purchase it by providing facts and tips and highlighting its defining quality. Write in a clear, conversational tone that reads naturally for shoppers.
Use High-Quality Images
According to a Weebly survey, 75% of online shoppers state that product pictures influence their purchasing decisions. A lack of quality images may derail your sales before customers consider pricing. Accurately represent your items by providing at least four in-focus, well-lit, and high-resolution photographs.
The primary image should be a front view of your product with a seamless white background. Crop pictures to eliminate unnecessary space for a more significant visual impact. Use additional photographs to cover multiple angles of your items or showcase them in suitable settings. Give buyers a clear idea of what to expect should they purchase your merchandise.
Add Eye-Catching Shipping Details
Walmart uses the time it takes you to ship products and the fees you set as parameters to rank your store. The fewer days and costs for the delivery, the better your conversion rates. By enabling free two-day shipping, your products become more visible than those that haven’t included the option.
4. Build Your Reputation
One of the best Walmart advertisement strategies is to build your customers’ trust. Many visitors base their buying decisions on whether they feel safe transacting with your store. Build trust by implementing the following three steps:
As 95% of consumers read reviews before purchasing, including them is an effective way to boost confidence in your products. Favorable evaluations can also generate new business opportunities by increasing your chances of ranking higher in searches.
Use Email Campaigns
Set up email campaigns to encourage sales, showcase your goods, and build connections with new and existing customers. This form of digital marketing includes newsletters, e-receipts, and feedback. Email campaigns nurture and strengthen your relationships with consumers through features like:
- Personalized messages: Use a client’s purchase history to tailor individual subject lines, content, and deals to make emails more meaningful.
- Loyalty programs: These messaging services make connecting with loyal customers and sending them personalized offers easy.
- Automations: Send thank you letters or order confirmations after meeting a specific trigger.
Emails also play a prominent role in encouraging profitable repeat customers, enabling you to spend less on acquisitions.
Deliver Orders on Time
Indicate your reliability by delivering orders quickly and without any inconvenience. Speedy transport builds trust, with 65% of consumers reporting that fast shipping would lead them to complete an order. Set up TwoDay or ThreeDay options to delight your shoppers with fast, free delivery. Another way to accelerate transport is to take advantage of Walmart Fulfillment Services’ (WFS) expedited consignments.
Using dropshipping on Walmart Marketplace offers the ability to make hassle-free deliveries and eliminates worries about fulfillment times. It differs from the traditional dropshipping model of buying Walmart products and delivering them to customers. The retailer doesn’t permit this method on its platform.
The Drop-Ship Vendor (DSV) program involves the retailer purchasing your products at wholesale prices and listing them on its website. You then ship orders to customers using Walmart’s logistics partners, who can deliver items to clients within two days. Dropshipping on the platform also gives consumers more confidence in your merchandise, as Walmart sells it under its own name.
Pros and Cons of Walmart’s DSV Program
To become a Walmart DSV, you should be able to handle high-volume orders and store inventory. The retailer requires you to ship purchases as they come in, using a label they pay for. This program can boost sales and streamline parts of the conventional dropshipping process. Other benefits include:
- Simplicity: DSV doesn’t require as much setup or ongoing management as a regular seller. Walmart handles aspects like marketing and returns.
- Buy Box advantage: The retailer prioritizes most DSV products in searches, giving you a competitive edge.
- Margins: Walmart purchases your products at wholesale prices, which means your margins are the same regardless of markdowns on the site.
- Ship-to-store: Drop-ship vendors can use the ship-to-store option, encouraging sales as buy-online-pickup-in-store (BOPIS) gains popularity amongst shoppers.
Walmart’s DSV program isn’t suitable for all sellers. The partnership can be challenging if you aren’t ready for bulk orders or don’t have warehousing options. Consider the following downsides to the program:
- Verification and staying in the program: DSV verification is intricate, as Walmart takes its reputation seriously. The retailer also requires vendors to reach specific benchmarks to remain in the program.
- Storage costs: Walmart won’t keep your merchandise in its warehouses, requiring you to store inventory until it sells.
- Loss of control: The retailer decides on pricing, product pages, and shipping methods.
- Chargebacks on returns: Customers return unwanted goods to Walmart stores for cash, and vendors might be liable for chargebacks
Walmart advertising strategy is most suitable for brands and stores at scale. Walmart provides a great scaling and diversification opportunity when used as complimentary with Amazon ads.
5. Run Strategic Promotions
Walmart provides two promotion badges to help its sellers succeed. These deals increase discoverability and boost traffic to your listings. Stores may apply for the following discounts:
- Clearance: This promotion displays a “Clearance” badge above the item, showing customers they receive a better-than-average offer. Use the deal to sell slow-moving stock or out-of-season products.
- Reduced: A “Reduced Price” badge appears above items discounted by 5% or at least $5 on products over $100. This promotion offers your store a quick sales injection.
Laser Sight Digital Helps You Create Effective Walmart Advertising Schemes
Increasing your sales on Walmart Marketplace requires unique selling strategies. Using the best advertising schemes helps you reach your target customers and takes your campaigns to the next level. Do you know how to implement an effective Walmart advertisement strategy that grows your business and drives revenue? Contact our agency today to scale and get your e-commerce store thriving with Walmart and Amazon ads.