Here are some interesting Walmart marketplace stats for you:
- Walmart’s Marketplace has over 150,000 sellers, as of May 2022.
- Walmart’s Marketplace has more than 120 million unique visitors per month.
- Walmart’s Marketplace offers over 75 million products across 50+ categories.
- Walmart’s e-commerce sales are projected to reach $112 billion by 2027, with the Marketplace accounting for a significant portion of that growth.
- Walmart’s online sales increased by 17% in Q4 2022 compared to the previous year, and Walmart Marketplace was a significant contributor to this growth.
These statistics demonstrate the size and growth of Walmart’s marketplace. This means it is important for sellers to have effective Walmart marketing strategies in order to stand out and succeed in this competitive marketplace.
It also demonstrates the competitiveness of the platform and why having a strong Walmart marketing strategy is crucial for any business operating on the Walmart marketplace.
In this article, we’ll explore some of the best marketing strategies that you, as a Walmart Marketplace seller, can use to boost your visibility, increase sales, and grow your business.
From optimizing product listings and using sponsored ads to building a strong brand and leveraging social media, we’ll cover a range of tactics and provide practical tips for sellers to implement in their marketing efforts.
5 Best Walmart Marketing Strategies
Below are five of the best Walmart marketing strategies sellers should consider:
Optimize Your Walmart Marketplace Listings
Optimizing your product listings on Walmart Marketplace is the first place to start your Walmart marketing strategy. Unlike most of the strategies on this list, this strategy is completely free. Additionally, optimizing your product listings makes it possible for you to get the most out of your marketing campaigns.
Imagine you have the best Walmart marketing strategy that funnels in a lot of customers, if your listings are not optimized for conversion, your marketing campaigns will be ineffective and unnecessarily costly.
A well-optimized product listing can help improve the discoverability of your products on the Walmart Marketplace and entice customers to make a purchase.
One of the first things to consider when optimizing your product listings is the product title.
Your product title should be descriptive, concise, and contain relevant keywords to help customers find your product when searching on Walmart Marketplace.
Including important details such as brand, size, color, and material in your title can also help improve your product’s visibility.
Next, optimize your product descriptions by including relevant information about the product such as features, benefits, and specifications. Use bullet points to make it easy for customers to read and understand the information.
Use relevant keywords in the product description to help Walmart’s search algorithm better understand your product and rank it higher in search results.
Images are also an essential part of your product listing. Ensure your product images are high-quality and showcase your product in the best possible way.
Use multiple images from different angles, and if possible, include lifestyle images to help customers visualize how the product can be used in real life.
Check out our in-depth guide on how to optimize your Walmart product listings to get more information on listings optimization.
Utilize Walmart Sponsored Ads
Walmart Sponsored Ads are a form of online advertising that allows Walmart Marketplace sellers to promote their products and reach a wider audience on Walmart.
These ads work on a pay-per-click model, where sellers only pay when a shopper clicks on your ad. Sponsored Ads are one of the best marketing strategies for you as a Walmart marketplace seller, as they allow you to increase your visibility and sales on the platform.
There are three types of Walmart Sponsored Ads; Sponsored Products, Sponsored Brands, and Sponsored Display Ads.
Sponsored Products are keyword-targeted ads that appear in search results and product detail pages. Sponsored Brands are ads that feature a custom headline, logo, and multiple products.
They appear at the top of search results and help to promote brand awareness. Sponsored Display Ads are product-targeted ads that appear on related product detail pages and in Walmart.com search results. Display ads also appear offsite i.e third-party websites your potential customers visit.
To create effective Walmart marketing campaigns, you should focus on targeting specific keywords and customer segments. Keyword targeting involves selecting relevant keywords that are commonly searched by customers on Walmart.
Customer segment targeting involves selecting specific customer groups, such as age, gender, or location, that are more likely to purchase your product.
You should also set daily budgets to ensure you do not overspend on advertising. It’s important to monitor ad performance regularly and adjust campaigns as needed to ensure they are effective.
Read more: Walmart Advertising 101: Understanding Walmart Sponsored Ads
Use Social Media to Drive Traffic
Social media can be a powerful tool for Walmart sellers looking to drive traffic to their stores and increase sales. With billions of active users across various platforms, social media offers an excellent opportunity to reach a vast audience and build brand awareness.
By creating engaging social media content and promoting your products, you can generate interest and attract potential customers to your Walmart marketplace store.
Even Walmart themselves recommends using social media to advertise items sold on their marketplace. According to their statistics, 40% of Walmart’s online shoppers search for products recommended to them while they are on social media.
There are several social media platforms that you can use to promote their products, including Facebook, Instagram, Twitter, and TikTok.
Each platform has its own unique audience, and it is important to choose the right ones that align with your target market.
For example, Facebook is an excellent platform for reaching a wide audience, while Instagram is better suited for visually appealing products, such as fashion or home decor.
To create engaging social media content, it is essential to understand your target audience and what type of content they are interested in.
By creating customer personas and identifying their interests and pain points, you can create content that resonates with them and encourages engagement. It is also important to use high-quality visuals and graphics to make your content stand out.
In addition to creating content, it is crucial to track your social media metrics to understand the effectiveness of your campaigns. Tools such as Facebook Insights, Instagram Insights, and Google Analytics can provide valuable insights into your audience’s behavior and engagement with your content.
By tracking your metrics, you can identify what is working and what needs improvement, allowing you to refine your social media strategy and increase your reach and sales.
Offer Promotions and Discounts
Offering promotions and discounts is an effective Walmart marketing strategy that can help you attract and retain customers.
In today’s competitive e-commerce landscape, consumers are always on the lookout for the best deals and discounts. Offering promotions and discounts is an excellent way to grab their attention, encourage them to make a purchase, and increase customer loyalty.
One of the most popular types of promotions is free shipping. By offering free shipping, sellers can attract more customers and increase sales. Customers are more likely to buy from a seller who offers free shipping than one who charges for shipping.
It is essential to note that offering free shipping can impact your profit margins, and you should carefully consider the costs before implementing this promotion.
Another type of promotion is the buy-one-get-one-free offer, also known as BOGO. BOGO promotions are an excellent way to increase sales and encourage customers to purchase more items.
For example, you could offer a buy-one-get-one-free promotion on a specific product or category. This promotion can create a sense of urgency, encouraging customers to make a purchase before the offer expires.
Discount codes are another effective promotional tactic. You can offer a discount code to customers, which they can apply at checkout for a specific discount.
Discount codes are an excellent way to encourage first-time purchases and increase customer loyalty. For example, you could offer a discount code for 10% off your customers’ first purchase or offer a discount code to customers who sign up for your email newsletter.
Keep in mind that one way to use promotions effectively is to create a sense of urgency and scarcity. Limited-time offers, such as flash sales or seasonal promotions, can encourage customers to make a purchase before the offer expires.
Provide Excellent Customer Service
Providing excellent customer service is essential to any successful business, including Walmart Marketplace sellers.
Good customer service not only improves customer satisfaction and loyalty but also helps to build a positive brand reputation, attract new customers, and increase sales.
One of the most important aspects of good customer service is responding to customer inquiries promptly. This includes answering questions about products, shipping, and returns. It’s important to be transparent and provide accurate information to build trust with customers.
Another key element of good customer service is offering hassle-free returns. Customers are more likely to make a purchase when they know they can easily return or exchange the product if needed. This helps build trust and confidence in your brand.
But unfortunately, returns and refunds are one aspect a lot of Walmart sellers are not very good at handling. We have a Walmart returns guide that explains how Walmart returns work and how you can manage your returns in a way that will be beneficial to both you and your customers.
Personalized support is another way to improve customer service. This can include offering tailored product recommendations or providing personalized assistance with any issues customers may be facing.
By showing customers that you value their business and are willing to go the extra mile to help them, you can build a loyal customer base.
It’s important to remember that good customer service doesn’t just benefit the individual customer but can also benefit your business as a whole. Positive customer experiences can lead to word-of-mouth referrals and positive reviews, which can help attract new customers and increase sales.
In conclusion, implementing effective Walmart marketing strategies is crucial for you to stand out in a highly competitive market and increase sales.
By optimizing product listings, utilizing sponsored ads, leveraging social media, offering promotions and discounts, and providing excellent customer service, you can attract and retain customers, improve brand visibility, and ultimately drive more conversions.
It is important to continually assess and adapt these strategies to ensure maximum effectiveness and stay ahead of the competition. By utilizing the best Walmart marketing strategies, you can achieve success and grow your business on one of the largest online marketplaces in the world.