EcommerceBytes asked a panel of experts a series of questions about the challenges and opportunities facing online sellers in the year ahead. In part one, we looked at the biggest challenges facing online sellers in 2012. Part two looked at the opportunities available to sellers, and Part three examined the impact of mobile shopping on online sellers.
Today, our panel discusses tools and tips tricks for online sellers and answers the question, what’s the one gadget every seller should have? They also share their thoughts about ecommerce in the year ahead. We’re also asking readers what they think – leave a comment on the EcommerceBytes Blog.
What specific tips or tricks do you recommend for online sellers to be more efficient? Are there any particular tools you suggest, or areas that you believe online sellers should be paying more attention to?
adMarketplace CEO Jamie Hill: Do more of what works. If you are driving sales through search advertising, consider using a search syndication network so that you can find users during the 97% of the time they are online but not on a search engine results page. adMarketplace has had a lot of success helping the largest online merchants increase sales via search syndication.
Bonanza founder Bill Harding: As I mentioned previously, I believe there are more viable places to sell now than there ever have been before. In addition to the big marketplaces listed (eBay, Amazon, Etsy, Bonanza), there is now a collection of businesses that have seen the success of Amazon’s model and incorporated it into their platform (Buy.com, Sears). There is the usual assortment of up-and-coming marketplaces like Addoway and Yardsellr. Then there are the set of platforms that allow sellers to sell through their own domain, like Magento and Shopify. One thing sellers won’t be lacking in for 2012 is choice!
But the more viable choices that are introduced, the more difficult it is for a seller to evaluate which solution best matches their goals. That’s why resources like AuctionBytes become increasingly important to help sellers figure out the pros and cons of each selling solution. The better that AuctionBytes can help sellers (quickly) grasp the trade-offs between selling solutions, the more all sellers can benefit from their wealth of choice.
Dwolla founder Ben Milne: Having solid access to analytics and a shopping cart that aggregates orders in a way you can easily reference will be important in 2012. Also, there are a lot of low-cost ecommerce technologies being churned out by startups every day. These products are providing smaller merchants with tools that can offer their business a competitive edge and your customers a better shopping experience. In 2012, shoppers will gravitate to great companies that are using these technologies to offer a great customer experience.
MyStoreCredit founder Brian J. Lawe: As I previously mentioned, optimizing for search engines is THE most critical factor for any seller. However, after five years of steadily beating the drum advising sellers to always ask for buyer opt-in permission and executing a regular email campaign targeting those past buyers – I remain shocked at how few sellers utilize this most basic form of online marketing. I chalk it up to the rather poor reputation that email marketing holds – a reputation that is not deserved.
Groupon has become the fastest growing revenue company – ever – and its entire business model is built upon email marketing. DAILY email marketing! If sellers don’t get their buyer opt-ins, and they don’t send regular emails to their own buyers, they are losing out on the absolute best marketing tactic they can own and control.
Outright CEO Steven Aldrich: Sellers need to spend most of their time sourcing or making products, merchandising them and building relationships with customers who buy so they tell others and come back themselves. There is a huge amount of research and real-world evidence showing that it is easier to bring customers back than to find new ones. With the rise in social media, you should be comfortable asking delighted customers to tell their friends about your store on Facebook. Track your best customers in a simple, repeatable way that you can keep up-to-date. Tools we use here include Outright to track repeat buyers and Mailchimp, a simple service to send emails.
PageMage founder Chris Taylor: Again, I recommend taking a look at our “Grow your eBay business with SWOT” guide. This was created from a workshop with an eBay seller meetup group that Page Mage sponsors. There are many challenges, including efficiency they came up with that are in the guide. And then many opportunities to improve in all areas but including efficiency. So they talked about using automation software and accounting software. Also talked about their workflow and inventory as areas to look at and determine how they can save time and be more efficient. Not having enough time is perhaps the biggest complaint I hear from sellers.
What’s the one gadget every seller should have?
adMarketplace CEO Jamie Hill: Conversion tracking pixel. Its all about data.
Dwolla founder Ben Milne: A Maker Bot and anything with a mobile web browser. (It may not be the most relevant gadget for sellers, but if you’re looking for something different, as an entrepreneur, the Maker Bot is an amazing piece of engineering.)
FitForCommerce Vice President Danielle Savin: A tablet-ready site right now.
MyStoreCredit founder Brian J. Lawe: A smart phone. Wherever you are, no matter what goes wrong, you can pretty much work to correct the problem by smart phone.
Outright CEO Steven Aldrich: Every seller should have a smart phone. There is so much a seller can do on a smart phone. Each of the major marketplaces has an app specifically for sellers. For example, Amazon’s price checking app allows the seller to compare prices on Amazon with items that they are considering purchasing for resale on Amazon. Additionally, the seller can track mileage using an app like MileBug. Outright will also be launching a dedicated mobile app soon, so having a smart phone with web access will give our customers a way to stay in touch while they are on the go.
PageMage founder Chris Taylor: A friend!
Ruby Lane Director of Communications and New Business Development Palmer J. Pekarek: That is a tough question, the answer is dependent on how much ecommerce contributes to a sellers livelihood. First, for all online sellers, a good computer that has up-to-date software is a must.
Next, for sellers really making ecommerce their livelihood, portable mobile internet (mobile hotspot) and a tablet (i.e. Galaxy and/or iPad) makes access to the internet simple. It also allows sellers to compare like items they come across in their shopping travels to items.
Any other thoughts about ecommerce in the year ahead?
adMarketplace CEO Jamie Hill: The big picture trends are fantastic. More users are coming online and online spend continues to increase. Someone is going to get those dollars. Make sure you are investing in your business so that you continue to scale.
Dwolla founder Ben Milne: It’s going to be a good year.
MyStoreCredit founder Brian J. Lawe: When Barron Hilton was asked if he had any other thoughts he wanted to say about his hotels, he said: “Keep the shower curtain IN the tub.” I feel the same – my parting shot is: Get your buyer opt-ins and market to them.
Outright CEO Steven Aldrich: Online merchants need to stay focused on the core of every successful business – your customers. Even though we are “ecommerce” businesses, find a way to build relationships with your customers, not the “e”. There will always be new, shiny technologies but don’t let them distract you. Enjoy the rising tide!
PageMage founder Chris Taylor: It’s exploding. It’s changing daily. Invest the time to understand and you will find the opportunities.
Ruby Lane Director of Communications and New Business Development Palmer J. Pekarek: One, we look forward to continued growth at Ruby Lane. Two, we think that antiques, collectibles and vintage items will have a greater online market share. Three, we suspect that shipping costs will rise. And four, we hope that ecommerce sites and sellers will use as much recyclable materials when shipping goods and in their day-to-day business.
Participants
adMarketplace CEO Jamie Hill (Pay-per-click ad platform)
Bonanza founder Bill Harding (Online marketplace)
Dwolla founder Ben Milne (Online payment service)
FitForCommerce Vice President Danielle Savin (Retail consultant)
Liquidation.com Vice President of Marketing Rob Caskey (Online marketplace)
MyStoreCredit founder Brian J. Lawe (Marketing service)
Outright CEO Steven Aldrich (Bookkeeping service for online sellers and entrepreneurs)
PageMage founder Chris Taylor (eBay marketing service)
Ruby Lane Director of Communications and New Business Development Palmer J. Pekarek (Online marketplace specializing in antiques and collectibles)
Links to Series
Part one of this series on online selling trends is available in this EcommerceBytes news story; Part two is available on this page; and Part three is available on this page.
Comment on the EcommerceBytes Blog
