Introduction:
Who does not know the retail giant Walmart? Spread across all categories it is still today the largest retailer on this globe. With over 100 million eyeballs per month and around 15000 sellers, the Walmart marketplace is the largest sales channel for any eCommerce business to grow their sales.
But how many of us know that Walmart is making very strong strides in the E-Commerce space too with volumes increasing at a very rapid pace in the last 18 months?
Walmart.com already has a catalog of over 80 million products and is rapidly increasing its penetration. Getting your brands in front of potential customers before your competitors are the way out to Walmart Sponsored Products.
Walmart Marketplace
About Walmart Marketplace:
Walmart is the popular largest multi-channel retailers and has an advantage over other competitors. The marketplace focuses on two key aspects which are making its strides all the more commendable.
- Using its enormous network of over 4500 plus stores across the USA as Fulfillment points for online orders.
- Introducing a marketing platform similar to Amazon Marketing Services (AMS) named “Walmart Media Group“ which is Walmart Ad Platform.
Walmart Media Group is an advertising platform under walmart.com. Walmart Media Group is the channel for all the brand advertising on Walmart and various other Walmart owned websites such as jet.com, Hayneedle to name a few. As well as brand placement during live streaming through Walmart live.
Walmart Media Group
We will be discussing in 4 phases on how to drive sales on Walmart by running Ad campaigns through Walmart Media Group. There are various factors where performance should be measured.
Focusing on the product category, the seller’s seller metrics, marketing spends, Number of SKUs and products in the catalog. Also, crucial measures which can provide greater results. Likewise, the Buy box banner on product detail has the best click-through rate. Over hundreds of thousands of impressions in automatic campaigns, but the click-through rate is 1% or less on average for third-party sellers.
Walmart Media Group is an extended advertising arm, launched a self-serve portal so advertisers can directly buy on-site search and sponsored product ads on Walmart.com.
1.Become a Walmart Marketplace seller:
You can complete your application in a short span of time. As a part of your application, Walmart Marketplace requires several pieces of information, from your annual online sales revenue to your eCommerce experience.
Once you have a Walmart Marketplace account you need to upload your catalogue. According to Walmart Marketplace guidelines, you should add around 100 items to your inventory. Once you’ve set up your product catalogue, you need to complete order testing. You can finish this preliminary step in your Seller Central account.
2. Advertising Parameters on the ad Platform:
Now that you are active on the Walmart Marketplace, you can begin the process of advertising on the eCommerce platform. The Walmart Media Group, which is Walmart’s ad platform, reviews and approves each application.
Walmart Media Group does not reveal its performance requirements for approval of the application, but it does require a minimum monthly spend of $1000.
Walmart Media Group would want you to attend a webinar on the various features of the platform.
3. Guidelines to launch your first ad campaign on Walmart:
Once you complete the onboarding process for advertising on Walmart Marketplace, you can launch your first ad campaign.
Before you create an ad review a few essential details.
a. What products you want to advertise
b. How much you want to spend each month
c. What you want to spend per product
d. How long you want to run a campaign
And of course, once you have launched your ad you should monitor your Ad strategy on a routine basis.
4. Four key Walmart sponsored ads:
1. Walmart Performance Ads:
A pay-per-click (PPC) advertising option, Walmart Performance Ads (WPAs) is similar to the Automatic targeting ads of Amazon marketing service using an internal relevancy engine to determine where and when your ads should appear.
2. Native Banner Ads:
These ads are similar to the brand Ads of Amazon Marketing Service and appear at the top of the product category. If you’re looking to improve brand awareness, native banner ads offer an excellent option. They promote your brand, plus highlight a few of your products.
3.Catapult Ads:
When you want to promote a specific product, you can advertise with catapult ads. A catapult ad appears at the top of product listings. It also features the text, “Featured Item,” to indicate that it’s a paid option.
4.Site Search Feature Ads:
A site search feature ad promotes your brand on a related product page. If users click on your ad, they go to a page that features all your products. Shoppers can then use filters to narrow their choices. This ad is a combination of Walmart Performance Ads and Native Banner Ads and is a good option for small businesses to obtain the balance between brand awareness and sales with limited budgets.
Final Words:
In case the above article was useful and you feel that Walmart a marketplace is a good option for your business, we will suggest you get in touch with us to understand the process in more detail and evaluate the option of using Walmart marketplace as a strong medium of sales for your product range. 99 YRS not only helps you manage your sales but we also partner with you to grow your sales over a period of time. Follow us on Instagram, Facebook, Twitter and, LinkedIn.
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