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Hi everyone and thank you for joining me for today's webinar
Marketplaces master class - your strategy for seller-success. Before I get started today
Maybe a little bit of housekeeping
I first want to make sure that you can all hear me so if you can hear me. You can just put up your hand
There's little hands up icon that you can click on just in front of you and that'll let me know that you can hear me
okay, this is a
one-to-many live
Webinar, so although I can't hear you. Hopefully you'll be able to hear me and during the webinar
You're welcome to ask any questions that you might have. So there's a little question console in front of you
And you can ask questions through that question console and I'll do my best to answer those questions at the end
Of the webinar. It's gonna be quite hard for me to answer them as we go so I'll leave questions until the end
so we will leave a few minutes at the end for Q and A
so first of all
Obviously, thank you for joining me. My name's Ryan, and I'm the founder and current CEO of Neto
Neto is a retail management platform and I'll talk a little bit about how Neto can help you be a successful
marketplace seller later on in this webinar
before I was involved in Neto, however, I was a
multi-channel
retailer myself
I ran an online department store that sold both through eBay
And through my own web store and have owned and run a number of other multi-channel retail
businesses since as well
Okay, so just jumping straight in
the agenda for today's webinar, so
first of all, we're going to have a look at the current state of marketplaces and a report that we recently
released
We'll talk a bit about why you should be selling on marketplaces, which marketplaces you should be selling on especially here in Australia
Which products to sell on marketplaces and how to find a niche and how to structure your marketplace?
listings some ideas on how you can price your products how you can improve your seller ratings how you can win the Amazon by
Rocks and a little bit about what it takes to win the Amazon buy box
And then we'll just talk to you in erally about you know
what it takes to be a successful omni-channel retailer at the end of the webinar we'll also
Be sending out an exclusive offer to all webinar attendees in conjunction with one of our marketplace partners eBay
Okay, so like I said the current state of
Marketplaces here in Australia, first of all for all of you that are very new to online retail
I guess I'll define exactly what a marketplace is
ultimately
A marketplace is a central platform or website where third parties can sell goods direct to consumers and not too long ago
They were only one or two, you know
powerful marketplaces here in Australia specifically eBay
but what we've seen in recent times is the introduction of Amazon the catch the day marketplace and
Others I will talk about the difference between these marketplaces a little bit later
So what is the current state of marketplaces here in Australia?
There's been a lot of things going on in the world of marketplace
Australia Post recently released their annual inside Australian shopping report which looks at consumer behavior and trends based on
analysis of goods bought online livered by Australia Post
the standout findings really from this report was that
marketplaces in Australia grew a whopping seventy four point eight percent year-on-year between last year and this year which is
Incredible growth considering that you know
eBay as a marketplace has been in this market for well over a decade now to have that kind of growth is pretty incredible and
With this growth, like I said before we're seeing more and more entrants to the marketplace arena
So Maya's launch their own marketplace catch of the day
Launched a marketplace. You've got the face book
Marketplace as well. And of course, you know Amazon
Incident to the market towards the end of last year
The report also found that online good spin increased by eighteen point seven
Percent over year compared to just two points five percent for traditional retailer
Which is obviously really good news for anyone selling online. Like I said Amazon launched what the end-of-line last year and
Amazon Prime has launched more recently
Than that so it's been a big 8 months for Amazon here in Australia
They have officially opened up their doors with their Australian sites in November
And even though many referred to it as a false start
It was actually the smoothest and quickest launch in all of their history allowing them to really test
their waters and their technology in this market
Like many of you would know there was some recent
GST law changes here in Australia
Which has seen an even greater drive in traffic to the Amazon Australia site. Amazon u.s. Is now forcing
Australian consumers to buy on the Amazon Australian marketplace, which is seeing a spike in Amazon Australia marketplace sales
at least that's what we're seeing throughout our base and
very recently
They introduced performance by Amazon and so fulfillment by Amazon is a service that you as a retailer can take
advantage of it allows you to warehouse your products in Amazon's warehouses and Amazon therefore for full
Orders on your behalf for your customers. So this negates the need for you to have your own warehouse
You ultimately are leveraging Amazon's warehouse space and therefore film and Technology and shipping providers
I mean you can just focus heavily on
sourcing the right product at the right
price
While this is all going on with Amazon
and we're also seeing a lot of changes happening with the eBay a significant amount of changes in fact, so
We have the eBay Plus program their own, you know membership subscription program to compete with Amazon Prime. It's
Slightly cheaper than Amazon Prime
They've also offering delivery guarantees now to consumers and a number of other
innovative
Ideas that are actually quite different to eBay's traditional business model here in Australia
So Australia are really leading the charge in terms of innovation in the marketplace of eBay
And we're seeing you they continue to grow from strength to strength within our and and Merchants base
Which is really exciting because eBay as a marketplace is one that really does partner with retailers rather than try to compete with
retailers
They've also and you probably have seen them yourselves really ramped up their advertising
efforts here in Australia
So in mainstream media is seeing more and more advertising by the likes of of eBay in competition to to that of Amazon's
And we're also seeing a trend towards more cross-border trade, especially between Australia and Asia. So Chinese e-commerce giant
JD com launched in Australia over the last year and Australian sellers are increasingly selling more and more products
through the Alibaba
Marketplace and Timor which is China's largest third party platform for brands and retailers
I mean Australia in fact is now ranked the third highest selling
country in to China
So while there is still some uncertainty around
Marketplaces we here at Neto wholeheartedly believe and that
Marketplaces is very much the way of the future and the sentiments is really shared amongst our merchants
in fact last year we
Conducted a survey the day before Amazon launched in the country
to sort of get a temperature check on the sentiment towards Amazon and other marketplaces and of
the few hundred Neto merchants who responded to that survey
Ninety-five percent of them said that they actually intended to sale on Amazon in
2018 and that figure was just as high for for eBay and other marketplaces
Also starting to come through and we're actually seeing that follow-through now and the number of our merchants that are adopting the Amazon Marketplace
the eBay marketplace and other marketplaces and getting significant
attraction
Through them. In fact, some of our merchants are transacting more than 50 million
Dollars a year through marketplaces. So it's you know, definitely a
considerable sales channel for our customers
So why why sell on?
Marketplaces that there's a number of key reasons and probably the biggest is reach and exposure
exposure rather to to new customers
So the great thing about marketplace is you can leverage the reputation of a marketplace
We've already got a trusted brand and have household names selling through it for your own, you know small
Business so for a very small fee you can list your products and be alongside
many of the biggest retailers in the country
competing directly
With them and like I said before we're obviously also seeing a significant amount of traffic going to these
marketplaces so your ability to
Take advantage of that traffic for a relatively low cost and a cost that you understand before you list. Your products is
Definitely of benefit. We're also seeing this trend
From a consumer side to be more loyal to a single platform and this is driven
by the likes of Amazon Prime eBay Plus catch the day
I've also got their own membership program the catch Club and so consumers are really starting
Their search for products on the marketplace or websites
that they have got a loyalty to
and this is
Really evidence, I guess in the states where?
Amazon is is really now the preferred place to start a product search the back in the day
It used to be Google where people would search for products and now people are starting their product searches on
Amazon in fact 56 the Saints or product searches now begin on Amazon in America, which is up from
15 the Saints in
2012
So I think another really important reason for you as a merchant to have your products wherever
Customers are starting their their purchasing journey
Like I said, also you're getting access to a multi-million dollar marketing budget
so the likes of Amazon and eBay
Are spending a tremendous amount of money at the moment to acquire customers and to build that loyal customer base and you as a merchant
Get the advantage of that for a relatively low
Cost that you can really understand before you even sell something enabling you price your products appropriately
And I think that I think is really important is that you know marketplaces are really technology companies
So Amazon is really a technology in a data company and so is eBay
and for a small business to compete with that technology in
Evolving and new sales channels like voice commerce. It's becoming increasingly difficult
so it's important that you as a
retailer are
Surfacing your inventory in these new sales channels. So for example, Amazon Alexa can be seen as a sales channel
So voice commerce now for you to have your products available through Amazon Alexa in theory
You have to have those products listed on the Amazon Marketplace and it's incredibly important nowadays that your products are readily available
Wherever consumers are and in the future, no doubt
There'll be more sales channels and the consumers will be purchasing through and it's you know
Incredibly important that you as a retailer are able to surface your inventory through these channels and by being on
marketplaces you get the advantage of being able to do that again at a relatively low cost and
Probably more important than anything is you know shoppers really do prefer marketplaces
I mean we did a survey last year with Telstra
We surveyed one thousand one active online shoppers here in Australia just before Amazon
Launched and we already found that
You know marketplaces or shoppers first preference for buying
online in this country in France of company websites and social media when you look at the traffic to
To websites in Australia and that's indicative of of this
so which
Marketplaces should you be focusing on?
at the moment
So we recently developed a report where we compared 16 of the top
Marketplaces in Australia and globally on the basis of reach cost and the number of other metrics and including Amazon eBay
Alibaba team all Etsy trade me and many others
But for the sake of time, I'm going to focus on the ones that we here at Neto and our merchants are having a success
Through we will be also sharing this
Report with all webinar attendees if you are interested in more detail
So firstly Amazon so Amazon is obviously the largest marketplace in the world
Then third largest company in the world behind only Apple and Google and probably will be you know, the next a trillion dollar company
They have over three hundred and ten
active million active monthly customers and
Currently are receiving around forty five million monthly visits here in Australia, and we're seeing that steadily
Grow with the various initiatives that they have to drive traffic to the Australian marketplace
So Amazon has local marketplaces in ten countries and you need two registers to sell in each of those marketplaces
Independently and you charge your cell a fee for selling in each of those marketplaces?
independently of each other
So for example of you you want to sell on Amazon us you would set up an Amazon seller central
accounts in the US and the same for Australia and they are
some differences between each
marketplace including
The category tree and the available categories to sell through
Etc, etc
So that's an important I guess difference between Amazon and eBay where with eBay
You actually create a single account and you can enlist two in a mountable
eBay marketplaces
So eBay I guess is the number one most visited retail site in Australia and has been for some time now
It's the fifth most visited web sites in the country as well a hit of Wikipedia in
news.com today you they have around 12 million monthly visitors, which is approximately
You know three times that of what Curt Amazon Australia is currently receiving
There's 40,000 Australian retailers selling on eBay
Australia or at least there's 40,000
eBay Australia stores an 80 of the top 100 retailers in in Australia are actually selling on
EBay and that's something I think that a lot of people don't quite understand just yet. I think a lot of people still perceive
Marketplaces and specifically eBay as being a place to buy second-hand goods
That's you know
ultimately, we're a bae came from but it's very much changed in recent times to not be a place where you know,
90% of the items that are sold are brand new and are delivered by reputable
Retailers, so no longer. Is it seen as a second-hand marketplace?
They sort of offloaded that secondhand goods market to the likes of Gumtree, which is also owned by ebay
like
Amazon like I said before eBay, I've got more than the one site
So they've actually got local sites in 30 countries
but the big difference with eBay is that you have a single account that you can sell through all these sites with
and I think probably bigger than any difference between Amazon and eBay is eBay is really about
partnering with
retailers to grow
Them both on and off eBay and grow their brand
leveraging the eBay platform
So with eBay you've got a lot more control over your brand and your product listings than you might have with say Amazon
Who ultimately is is a hybrid of a marketplace and an online retailer themselves?
So Amazon are you know shipping goods a day?
they purchase an inventory themselves and then they're also
acting as a marketplace where third-party sellers can list their inventory with their goal to offer Earths, you know largest
selection
So yeah, eBay is still Australia's most favorite favorite marketplace. We're definitely seeing that through the Neto platform is a
significantly
Greater number of transactions going through the eBay marketplace than Amazon for us at the moment
But we are seeing Amazon steadily growing and no doubt in time and it might be a long time, you know
Amazon will be up there competing with eBay in this country and therefore it's really important that you as a retailer
You know get in early and take advantage of having first mover advantage on Amazon because they are big benefits
Which I'll talk to you later about in terms of your history on Amazon
The next marketplace and that we believe you should be focusing on at the moment
Is that the catch of the day marketplace and so catch of the day was originally?
Australia's largest daily BL site so they would offer a small range of products at ridiculous prices
It been evolved into a large online department store with a large distribution
Facility that in fact all robotic down in Melbourne, and now it's evolved into a hybrid
Marketplace slash online retail operation much like Amazon again like Amazon
They have their own loyalty program the catch Club and they're seeing more and more retailers sell through the platform as well
So we have some
Retailers selling through through catch now they're doing exceptionally well
And it's in those cases even their preferred sales channel
So if you haven't looked at catch as the marketplace opportunity for your business, it's definitely one
to consider
So an answer to the question at which market place
The answer is really, you know, go where your customers are
So a recent Roy Morgan report found that nearly 14 million Australians aged to 14 plus visit online
marketplaces in an average four weeks and all those marketplaces
eBay is by far the
The leading market place with almost, you know triple the visits of Amazon
but with all of Amazon's momentum and advertising like I said
They are likely to catch up over time and we've seen that
Historically in other countries that they've entered into so Canada and others and it does take them a little bit a while to get traction
Set up their distribution network. They recently launched a new warehouse in Sydney and they'll just continue and continue to see them grow
So again important to to get on early
So now let's move to I guess the second part of the webinar
We've covered why marketplaces in which marketplaces you should be focusing on at the moment
Now let's look at how you can really succeed on these various marketplaces. So first of all,
Really important to choose the right products to sell through the various
Marketplaces that you might sell through and now some products might be not might not be suited for certain
Marketplaces, they might not even be accepted by those marketplaces as an example
Amazon haven't yet opened up all of the available categories that they have in under other countries here in Australia
So it's important I gives first need to understand what products you can sell through the marketplaces that you're wanting to sell through
We definitely find that
Businesses that have unique products their own brand of products or importers and distribution
distributors or people that have a very niche offering do exceptionally well on
marketplaces, it's really important to research and find a niche that sets you apart from your competition and to continue to continue to
test new products and new ideas on marketplaces at the end of the day you typically only pay a
Marketplace on the sale of an item outside of your your small listing and maybe monthly subscription fees
So it's a really great testing ground for new products
and so it is a great way to research and test what sells
There are really great tools out there that you can use to do this as well to find niches in the market one in particular
Is called Terra peak so Terapeak allows you to research what other sellers are selling on
marketplaces and through some artificial intelligence can even recommend
Opportunities for you and your products on the likes of eBay. This is a really good idea, too to
Understand, you know how much you should be charging for your products in relation to competitors the volume that you you will expect to sell
before investing in purchasing or importing inventory
The next thing to really focus on is the title of your product on marketplaces
This is relevant for for most marketplaces as it has heavy weighting in a marketplace or search algorithm
So Amazon has really strict guidelines on formatting the title of your product depending on the category that you sell on
And will include a link in the show notes to these guidelines
But the general format you can follow for Amazon and it's probably a good format to follow
Through to the likes of eBay and other marketplaces is the brand name first, then the the model of the product and then the products
Ticks so an example would be here
We've got the brand in a safety-first the model is visto and the product type or text is full wheel stroller
And then a lot of sellers will append
additional information to the end of the title to help describe
The products and sell the products. It might also include
Keywords that people might be searching so relevant key words, maybe reversible seat nubile and the color of the product
Etc really important however to not keyword stuff your titles. So make sure that they still human
Readable and if you're selling on marketplaces like Amazon, in fact, you can you can embed your keywords rather and hidden search
fields
But our experience shows that human readable
Relevant product titles are best and will help with your your search
rankings on
marketplaces
Number three is to really use and take advantage of the bullet points
fields on Amazon and then the attributes fields on the likes of eBay and other
marketplaces and so farmers on
You can see here. Here's the format
They suggest for what to include in each of the five bullet points that you have access to
So the first thing is a general product description
The next is materials and construction of the products
the Nexxus details on the most important features two bullet points worth of details typically and then finally the dimensions of
The products so in this example here
of
Bullet points for a hairdryer the bullet points describe both the key technical specifications of the hot hair dryer
You know the wattage the heat and the speed settings and attachments as well as the benefits of these features
So for example, the ceramic coated grill produces infrared heat
So this is really important
It's not only important I guess in terms of a consumer
Finding the information out that they need to make a purchase decision quickly. It's also really important in terms of your search rankings
So bullet points are reported to be weighted heavily in Amazon's search
ranking and then with attributes so, you know things like colour or size or
Material it's really important to have these
specifics defined on your products and then feed through to market places like eBay Amazon and catch
again by feeding through specifics
You will improve your search ranking on market places
You will also then be included in filters on
Church Marketplace on
Marketplace listing pages. So for example, if someone's searching for a product and then wants to
refine their search using filters of color or size
Your products will actually appear for those filters when they use filters. So a faceted type search model and
That's really important to take advantage of so when I guess building out your database of products
Make sure that in whichever platform you use
You have got those specifics defined in text fields that you can pass through to your marketplaces of choice
rather than just being
Populated into your product description and amongst all your other texts. Ultimately if you can have those specifics
Individually listed out
You will be able to feed them through to the your marketplace as a choice and improve your your search rankings and can view
conversion rates and
I'm a forestry to optimize
the formatting of your
description which can lead to a greater
conversion rate so use headers and bullet point lists and where possible keep your
description too plain ticks
So what we see from a lot of immature sellers or people just starting out is they like to stuff the description with images?
You know bright colors interesting fonts and ultimately when you're selling on a marketplace like Amazon
They only accept a text description
And so you have to then go redo your description for that marketplace. So to ensure that your description can be
Leveraged across all of your sales channels keep it as simple as possible in plain text and rather Lintz there's the design of your website
Or the design of your email listing templates
Control the look and feel of the description rather than the actual body of the description itself
So the biggest tip I can I can give you in terms of setting up
Your descriptions is keep them plain text if necessary use bullet points. And other than that just keep it keep it really simple
It's the content of your description that matters not how it looks and feels really
Number five is you know take advantage of marketplace SEO. I've already mentioned keywords
I'm so keywords are just as important on marketplaces as they are on the likes of Google especially for Amazon
So choose the most accurate and precise keywords in your listing titles and your sub titles and your bullet points
Include variations of keywords. So if you're selling maybe shoes
Use train and sneakers kicks
As well as the the word shoes
You never know what someone's gonna be searching on and like I said in Amazon you can you can stick these keywords into their hidden
Keywords field but it is important not to keyword stuff
So if you seem to be just sticking random keywords into your product titles or winter your hidden search keyword field
To drive traffic to your listings your listing can be penalized and in fact removed from the marketplace
So I guess the most important points is, you know use variations, but make sure those variations are relevant to the specific
products
Next is really invest in your your imagery. So professional images sell more products
It's a fact you need to invest in professional
photography
All of you have the ability to do the photography yourself, make sure to invest in high quality
Lighting and editing equipment. It's not as simple as just using
Images from your existing website or from your supplies website some marketplaces have very strict
Requirements for for images. So for example on Amazon 80% 85% rather of the photo must be
Occupied by the product itself. You kind of watermarks on the images
You must have a white background. There must be no text on the images
so these are all rules as
They enforce eBay are starting to do the same and when you try to upload an image to these marketplaces
That doesn't meet their strict requirements. The listing will simply be
Rejected or even worse it'll you know be list within a few days later be taken down and you know
You'll lose the benefit of that
Few days that you had it listed for so it's really important to invest high-quality images a great
tool that we recommend is
pixie so P ixc
You can just take some you know photos of your products
with your iPhone or with a higher quality digital camera
You can then upload them to pixie and then there will init them and deliver back to you
Professionally edited product photos at a very very low cost so I would say don't
invest too much time in editing your own product images use a service like
Pixie and focus your energy on rather growing your business
but yeah key takeaways are uses many images as
You can so eBay allows you to have 12 free photos per product Amazon 9 to take advantage of those
product
photo
opportunities and ensure that you have very high quality images at least, you know, typically
600 plus pixels on either side
to ensure that
Customers get a really good view of your product cause does lead to much better
conversion rates
Where possible I think the next key
Tip is to really take advantage of the fact that you can emphasize and grow your brand through some of these marketplaces
Specifically eBay in fact, so email all about partnering with retailers and you know enabling them
You know to grow their business and brand through the marketplace. So with eBay you can
Purchase eBay store and there's different versions of eBay store subscriptions that give you different levels of flexibility
and control
But ultimately with eBay you do have the opportunity to brand your store to look exactly like your own website
For example your own offline branding and also to brand your individual this thing
so the description components of your your listings and this is a really great way to
Grow your brand in front of millions and millions of monthly users
So this example here is an Edo customer lucky pits, and they've got an ebay featured store
and it's customized to look very much like their own website so that the
Experience that the customer has will it be under the lucky paid website in store on eBay is very much
the same
Okay a little bit on pricing and pricing your your products for marketplaces, so I guess the first
the first and most important point is to really understand your your pricing or more importantly your cost price so know exactly how much
Each of your products is actually costing you. So that's more than just you know, what the
Supplier is charging. You you really need to take into account things like shipping packaging labor overhead
Etc to store that product to understand its true cost once you've got that true cost you could then
You know work out exactly what you're gonna sell that
products
for and
There's great tools. Like I mentioned before Terapeak is a really good tool if you're looking to do competitive
Pricing where you're going to price your products based on a lower and upper limits and what your competitors are charging?
So this will tell you what they're charging what they're getting success
Through and from that you can determine how much you want to charge yourself
There's other tools also that I'm gonna talk about in a second that can really help to automate that process
so if you've got thousands and thousands of products and many competitors who are constantly changing pricing and you want to
You know stay competitive they are tools that can automate that for you
Which I'll talk about in a second and the next point that's really important is to ensure that you have
Consistency across all of your your sales channel. So we we see a lot of
Retailers make the mistake of charging a different price
Through the different sales channel. So on their website, they will charge one price on a marketplace
They'll charge another price and install
They'll charge again a different price and ultimately what that leads to is
Maybe a short term win but in the long term a really poor customer experience and nowadays
The cost of acquiring a customer is so high. It's critically important that you keep them long-term
and so it's really important that you provide a
Consistent customer experience across all your sales channels and platforms like Neto can enable you to do that very simply and easily
I mean it is a very important point to take
Seriously a survey last year that we did found that you know
75% of is expect pricing to be the same across all sales channels
And it doesn't really have to be erased the bottom with marketplaces either
So some people have the perception that if you sell on marketplaces
You need to sell it for really really cheap and that's simply not true
in fact
one of our neither customers is the highest seller for
Their products on Amazon outselling the second best a seller of that same product twenty to one
If their price point is actually higher than the nearest
Competitor, so it's not all about price. It's about
Customer experience. It's about speed of delivery. It's about your ranking on a search engine and in the marketplace
It's about the quality of your listing your warranty and ultimately your customer experience
Okay, so I mentioned a tool just before
Four dynamic repricing or for automating your pricing
So that you don't have to manually be updating your pricing when competitors change their pricing and one in particular
That we recommend is a tool called street price, err. So what street price that will do like other?
Automated pricing tools that it'll look at the pricing of your products against your competitors on the various
marketplaces and you will then set a
Minimum and maximum price that you want to charge for your product or a threshold based on your cost price
and it will automatically
Reprice your products based on what competitors are charging for that same
Product on the various marketplaces that you sell through completely
Automating your pricing strategy. So these tools are really great
Especially if you have a very large range of products and if you're selling products that are highly competitive in the market
I'm so have a look at street price. So they've got a website cardi and the team there are great to deal with
Kevon next thing that we'll talk about is seller ratings
really important on all market places, especially
Amazon and eBay
So first of all how to get a good seller rating
first most important is
Consistently providing excellent service. So making sure that you
You get back to customers quickly when they ask a question making sure that you ship products in a timely
Manner making sure that your product descriptions are useful and accurate and provide the full
Story making sure that you have really good warranties on your products
These are all things that ultimately lead to a great customer experience and service and will ultimately lead to higher
ratings from customers 3 importance that you don't go out and
Proactively ask your customers for reviews
Especially if they're Amazon customers is actually against Amazon's policy. And so even you know slipping a piece of paper in your package is
non-compliance and
The more reviews your listing receives the more easily Amazon
Will be able to categorize your listings and this is because reviewers tend to include relevant keywords in their reviews
And the Amazon search algorithm prior to prioritizes listing with more
Reviews and relevant keywords, whether they be positive or negative
So it is it is a really important thing to be getting reviews and be getting positive reviews obviously on eBay
It's much the same
your eBay seller rating is up there for everyone to see and it can drastically impact on your conversion rates and
Also on your ranking within the eBay search
engine
Another reason why getting awesome seller reviews as importances, is that on?
Amazon specifically it can help you to win the Amazon buy box, which I'm going to talk about
now in fact
so the buy box is something that we we get asked a lot about on Amazon one of the biggest differences between
Amazon another mark places
Is that unlike eBay where every product has got individual listings on Amazon a product?
That has got multiple sellers will only have one listing and one buy button
So what that ultimately means that if you you don't own that buy button on Amazon
So on this picture here, you don't own the Add to Cart button on the right there then your chance of converting
Sales is significantly lower. So winning the buy box is
critically
important
For sellers because it's only occupied by one seller at any point in time. So there's five sellers for a single product
So there's five sellers that sell the exact same product. Only one seller will be assigned to the buy box and
82% of all sales on Amazon come through the buy box
So the other 18 bussines are clicking on that other sellers on Amazon below there
But more than likely they're clicking on the Add to Cart button in the buyer box. So, how do you win?
the Amazon
Buy box. Well, the algorithm is obviously not public knowledge given that it's so important, but there are a couple of
Tips that are relevant and pretty much everything that we've been speaking about
Today is relevant. But number one, I guess have competitive pricing
So if you're selling the same product at everyone else make sure that your pricing is competitive
It doesn't necessarily have to be the cheapest price that wins the buy box though
Optimize your listing
So the more customers that find you the more sales really sales
You'll get and the more chance you get a great more chance you have of getting great seller ratings
But also buying a building rather a selling history
so the more you sell your product the more important Amazon believed you to be as a seller of that product and
Therefore you have a much greater challenge of winning the buy box
So this is why it's really important that you take advantage of getting on Amazon early get that seller history for a particular SKU
Because in the long run, it'll help you win the buy box
If you are selling on Amazon of your new cell
And you've got particular products you want to to feature and get selling history upon I would highly recommend
Using Amazon's advertising feature to advertise your your products
Beyond, you know just them appearing in product listings on Amazon
So, yeah
Your seller history is really really important and not just fun Amazon and it's also really important on eBay in terms of your search
ratings
So keeping your seller rating obviously is important. So delivering great customer service that also
Determines your position in the buy box and then, you know really delivering on your deal
So making sure that you get products out the door really really quickly
That you provide tracking numbers back to Amazon as soon as you do that so that they can notify their customers that you have shipped
the product
And if you can take advantage of amazon fulfillment services
So by using FBA you have a far greater chance of winning the buy box
So the product is fulfilled by Amazon if the price is right if the seller rating is great the chances
Are you will win the buy box?
Position over someone that is fulfilling the goods themselves who has a poor seller rating and as maybe not got or even has the same
competitive
Pricing so that fulfillment piece is also incredibly important. So the buy box position does
Differ from customer to customer as well
So if I'm a customer buying in in New South Wales
there might be a different seller occupying their buy box and then someone who's maybe shopping in Queensland because that particular product is maybe
located
Closer to the Queensland buyer than the New South Wales buyer in that particular instance. So product location does also come in into
Play as well
Okay, so what is I guess
The CICC the secret sauce to omni-channel retail success
and well our our
Belief is that it really does come down to a unified commerce
Platform so a platform that enables you to sell everywhere and manage all of your back-office
From a single integrated solution that ultimately enables you to deliver the best possible
Customer experience and we believe that there's four key pillars to a unified commerce solution
and the first is a centralized inventory management and
stock control and
So when you ran out of stock on one
Marketplace or in your online store or in your bricks and mortar store that it does adjust stock across all of your sales channels
That you have centralized order management returns and refunds
So when you make a sale through any of your sales channels
Whether it be your online store through a marketplace or your bricks and mortar store that that order flows into a central water management
solutions that returns
Refunds and customer service and is just so much easier and the cost of of the Lauder's again is so much lower
That you have a platform that gives you a single customer view
So when someone buys on eBay?
Or if they buy and your bricks and mortar store your online store and they log in to the online account
They can see all the sales from your various sales channels and more importantly for you as a business you have visibility
of your customer across all of these sales channels giving you a
360-degree view of that customer allowing you to deliver a much better customer experience and finally wrapping that and layer of real-time
Analytics and reporting so that you can respond in real-time to customer
Needs these are the things that we have, Nido
are focused on
delivering as a platform in a single unified
solution
so a bit more about amnio and what we do so like I said with Neto
Being a unified commerce solution. You can sell everywhere from a single integrated solution
So you can sell I'm not online with Nino e-commerce. You can sell install with Neto point-of-sale you can sell on marketplaces like Amazon
eBay
And we're soon to release our catch integration without channels module
You can sell an app without with a mobile website or with our mobile native app. And if you're a wholesaler or a business-to-business
Operator we also have functionality specifically for that
But what really makes us difference is the fact you can manage your back-office operations
from one central solution
So you're purchasing your inventory management your stock take just stop adjustments your orders for the different sales challenge your customers
Your payments your shipping labeling and logistics all from a single integrated solution that allows you to deliver that
seamless customer
experience
Okay, so I mentioned at the start of this webinar that
we would be
providing a bit of an offer to everyone so I'll just
Click through to that now. So this is the offer and you should be able to see it. All there will also be emailing
This to you after the webinar
And so the offer is get on eBay or Amazon for free with Neto
So your first three months of selling on?
Amazon and eBay with our nido connect module will be free. So that's around
$150 of value and and then in addition to that
Through Neto we are offering a six month free ebay featured store worth around
Three hundred and forty-five dollars from eBay so through our relationship with eBay and we'll be offering free ebay featured stores
So with an ebay featured store
You can brand the store to match the branding of your bricks-and-mortar presence or of your own
online store
and list all your products through the featured stores for people to purchase and having a featured stores or reduces your seller listing and
Final value fees so there is a link to this offer that has been posted
In the chat channel there if you're interested
in it
Ok, so
That's all we were going to go through as part of the webinar today
But I guess I'm available here now to answer any questions that you might actually have
So someone's just asking there could you provide some more information on the wholesale or b2b option? So we're seeing this real trend
Towards
wholesalers or traditional business-to-business
Operations creating retail operations and selling through marketplaces either under a different brand which you can do with Neto so you can have a webstore
In one brand and your marketplace is under a different brand and that's a real trend that we're seeing but in terms of specific
Wholesale functionality. We do have a bunch of wholesale features built into our platform
So for example most wholesalers don't want customers to be able to see
pricing without first logging in
And then they want different customers or different customer groups to have different pricing depending on maybe the volume of products that they're purchasing
So these are things that are supported by our platform. You can have a login to view
Pricing feature. We also support price groups so you can have different pricing for different
Customer groups and then you can assign customers
To different groups. You can also lock down content on your new web store to specific customer groups as well
So if they specific content, whether it be a category of products or whether it be a Content page
You can lock that down as well. We do support
Purchasing on account which is important for wholesale businesses. So, you know with terms so buy now and pay in 30 days or
Or buy now and pay in seven days
And account statements to go with that as well where the system will automatically remind customers to pay the outstanding account through your online portal
But a list of all wholesale related features is available on our website
otherwise always just pick up the phone and give our sales team a call and they can walk you through the specific functions for your
business
So if you're an existing Nena customer a few people asking can we get the eBay featured store deal you can yes
So if you don't currently have an eBay account
With eBay then this is applicable for all new to eBay merchants
So if you're new to eBay and you're neither customer you will have access
to that feature
and that offer
There are other benefits of being an Ito
Merchant with eBay and things like being able to have your seller limits
reduced or removed
When you start on eBay
so
typically eBay
Enforced number of limits on new sellers to protect their marketplace as a kneeler merchant we can help get those seller limits reduced or removed
For you to speak to our support team
There's a couple of questions here that are specific to you and your business
So those that are specific rather than me answer them in a public forum. I'll get an email sent out to you after the webinar
So a question here you mentioned SEO being important for your product pages, how about your home page?
And so yes, obviously, your home page is one of the most important pages on your own website not as relevant to a marketplace
But on your own website, very important
And so yes, it's really important to identify the keywords that best describe your business and they're going to drive traffic to your business
And ensuring them ensuring that those keywords are
Entwined in your home to the page description that they are leveraged in your home page meta title
And description and that you're pointing, you know relevant traffic related to those keywords to your home page as well
So really important obviously for your own website not just for your product listings or for your home page rather
In terms of how long that offer last so we've locked in that offer for the next
month or so with eBay and so I believe it it runs until the
End of of September at this stage
Any other questions that I can answer relay to marketplaces specifically so eBay
Amazon or or capture that I don't see any other questions in there at the moment in the question console
Probably really important to note that we'll be releasing over the next couple of weeks our latest Amazon integration. It's something we've been working
on since December last year, so
around
You know, nine months of developments has gone into this new Amazon Australia integration
This new integration will allow you to create
new products
On Amazon, so currently how our Amazon integration works is you can link your Neto inventory or your products to Amazon
But you have to create them on Amazon in the first place. I mean you have to get them registered
Officially with Amazon on the Amazon Marketplace
We've been working closely with Amazon to create a tool that allows you to do all that from within Neto
Negating the need for you to log in to Amazon at all
so you'll be able to
simply tick a box
and Neto and have need to create the product on Amazon when a sale happens on Amazon that sale will then flow back into an
Edo control panel for fulfillment much like our eBay integration works today
The same level of integration will then be launched with the catch of the day Marketplace?
Next which is currently in the works as well. So Amazon full-blown
Integration is is currently in final testing and will be released very soon
And we we understand there's a a big pants up demand for that. So we're excited to be able to release that
the catch today
Marketplace integrations being worked on at the moment
We don't like to give exact deadlines because depending on testing they can blow out but we expect within the next one to two months
for the catch integration to be released so that will include
Product listing on catch of the day as well as order management and inventory syncing
Good question
Can the main image on your website be different to the image that you use on a marketplace and the answer is yes
So you can map whichever image you want to use as the main image on a marketplace
- you're neither back-end that is the case for all the marketplaces that we reintegrate with
In regards to inventory syncing, is it automated
Yes, so when you sell a product on ebay, for example, if you're selling on eBay catch
Amazon and you have your own web store with Neto
When you sell a product on one of those marketplaces
It will
Deprecated your stock across all the other marketplaces as soon as that order gets created in neo so it will automatically sync your stock
For you, you can also put stock buffers in place. And so that you don't oversell if you're concerned about over selling
so two people buy
You know near the same time on on two different marketplaces by having a buffer in a place. You can negate that negative customer
experience
With shipping, yes, we do support
integrated shipping with these marketplaces
So when you make a sale on Amazon or Ebay or through your Web Store that sale come into the backend of miso
And then you can print your shipping label for one of our supported carriers. So we support Australia Post TNT
Fast way careers, please toll sindelle, you know over 15 carriers
With Neto you can then print your shipping labels and nido
it'll manifest it with the carrier and it'll send the tracking number back to the
Marketplace to notify them that you've shipped the product. There's no need to use third-party
shipping software when using the needle platform
Just question about other shopping carts
So yeah
We actually do support log or soon going to be releasing support for a number of other shopping cart solutions that exist out there
so if you're already using
Another shopping cart and you don't want to get rid of your existing website. And so for example, you might be using say Shopify
Which is a simple solution for small online stores?
You could keep that website front-end and you can integrate it into nice
Oh and Neto can do all of your backend order management inventory shipping and marketplace management
So we'll be releasing our full-blown integration for other shopping carts over the next month or so
You can speak to our sales team about that if you're interested for more detail
And that allow you to keep your front end webshop that you've maybe invested in over time
Without having to switch that to need those fronts in webstore
So it's completely up to you whether you use nito's front in webstore or whether you continue to use your own cart
we're fully flexible in that regard and believe that being agnostic to the sales channel is what's important, so
Something to asking the question, you know, is there an optimal amount of products to list Amazon or Ebay and it's a really good question
And there's a bit of consumer psychology involved in this
What we find most of our retailers do is they only list a small percentage of their inventory to those marketplaces?
Given the fact that our system can automatically maintain stock levels
I mean this gives the perception that you may be running low on stock and great urgent urgent from a buyer's perspective
So for example if you've got a thousand of a particular SKU in stock
You might want to only send
Five up to a particular marketplace that five will show as five available on the marketplace and it might create some more urgency
from a consumer side rather than if you had a thousand say
showing a stock on the flip on the flip side of that you might have some of this wanting to buy a thousand of your
Product and won't be able to do so if you don't list your full inventory
So I think this is dependent on the types of products that you are selling
But we do see a lot of our our reads
Especially those that sell high value items only pass through a small quantity of what they actually have available to sell
to improve their sales conversion rates
a good question around promotion pricing
So if I run a promotion on my webstore that promotion price then be syndicated across all my sales channels and the answer
With Neto the answer is yes. So if you select
To have whatever your available store prices be your price across all marketplaces
and then when the product goes on promotion in your webstore that promotion price will flow through if you choose to the
Marketplace of choice you don't have to have that feature turned on there. You can choose to have
marketplace specific
pricing and map your price levels the Neto - your different marketplaces, like I said earlier in this
presentation though
It really isn't a good customer experience to find your product
at different price points across the internet or even offline so we wouldn't suggest doing this unless you're using a different brand on a
Particular marketplace, which is something you can do with our platform
So you might have one brand represents it as your webstore and then a different brand represents it as your marketplace store
A question about would there be an optimal number of SKUs?
Listed so in SKU as a stock keeping unit sits an individual product. And for those that don't know
There isn't really an optimal number of SKUs. I would say list everything that you have
Dependents, obviously on the seller plan that you have with the various marketplaces
Typically, if you're on the right plan, it's not going to cost you anything to list your products
And so I would say take advantage of that and list everything you're spreading a much wider net for someone to find your inventory
especially on Amazon where you pay a set fee per month and unlimited listings that
Can be different with eBay where you do app listing fees, but I would say
You know put everything on and then dependent on what sells maybe refined from there
but ultimately you're spreading a while and it's a much better chance of being found on the marketplace and
People do you know find one this thing and then drill into your store to find the rest of them in terms of the customer?
Journey, so the more I guess spokes you have in the wheel the better chance. Someone is a finding you
Any other questions specifically that I can answer
Like I said, and we will be sending out our marketplace
reports
To all the 10:00 news after the webinar. So have a read of that. There's some really useful information in that report
Not just about the marketplace that I mentioned today but others as well
If you haven't had a look at eBay or Amazon yet. I strongly suggest having it looked like I said, you know these two marketplaces
Specifically are delivering exceptional results for our customers and with Amazon
There's still a really good opportunity to gain a first mover advantage
given that it's so new in the Australian market place and your seller history does have a very big impact on your seller ranking and
your your
Your opportunity to win the buy box on Amazon which like I said 82% of all Amazon purchases do go through the buy box
That's an important thing to win
Just a reminder about street price or as well so street price is the dynamic repricing engine that I mentioned
Before it can automatically price your products dependent on
your competitors
Really handy, if you're selling products that are sold by a number of other merchants for your own brand products, obviously, not that relevant
And
another question there around invoicing and custom invoicing and
You know which invoice the customer gets and from who
So it's dependent on the marketplace really? So if you're selling through through eBay
For example you our system will automatically send out an invoice to the customer with your branding
Messaging etc
With the likes of Amazon and catch the day
they'll receive an invoice from those marketplaces themselves and the reason being that
The consumers actually paying Amazon
In those instances Amazon and catch whereas with eBay the consumers paying
You so you define the payment options?
They pay your PayPal account specifically, for example
They'll pay you by direct deposit specifically and you'll invoice the customer. Whereas with eBay. Sorry with Amazon and catch
Those entities are the ones invoicing the customer and therefore they'll receive the invoice from those entities
And so they will be branded Amazon or they'll be branded catch
It's really important again to note that with Amazon Amazon owns the customer. It's not a big difference between eBay and Amazon
Amazon owned the customer. You cannot email that customer directly?
You cannot message that customer directly and you cannot send messaging whether it be you know, a flyout
otherwise in the package with the goods
You must message the customer through Amazon's messaging center
So they're very strict about that and they don't actually provide you with the customers email address
They provide you with an encoded email address that routes the email back to the customer
So don't try trick them because they've got lots of smarts around that and will promptly ban your account
Just a question there around sharing this presentation with attendees
I mean sure we we will do that after the webinar as well. Just give us a few hours to do so
Okay, so no more questions coming through but obviously if you have any questions just pick up the phone and give us a call
we're always here to help and
answer any questions that you might have about adding a new sales channel to your nido store just to reminder that in a couple of
Weeks time. We will be launching our full-blown Amazon integration
We already have an integration but this is our new fully featured integration that I'm talking to you about
So it's important to get on board now and get ready and gift your products list of the meters that you can sync them across
To Amazon when that's good to go catch the day
We'll also be coming out very soon to so so another great opportunity to grow revenue for your business
So, thanks very much
For joining me today
Hopefully you learned something
And like I said, we'll be sharing all this material with you afterwards. So
If you've missed any of it, you can always read up on it later. So again, thanks very much
Have a great day and good luck moving into the Christmas selling season not too long away, believe it or not, which is scary
But yep, thanks guys Cheers
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