Cost Effective Ways You Can Sell on eBay, Amazon and Your Store
1. Cost Effective Ways You Can Sell on eBay, Amazon and Your Store Ed Wray - Vendio Account Manager March 1, 2011 EMAIL: ewray@corp.vendio.com
2. Agenda What is Vendio? Saving on eBay and Amazon Your Own Storefront – Empower Your Own Business!
3. Who we are… Leading On-demand eCommerce platform for small and medium sized merchants (SMM) 81,500 merchants selling over $1.5 Billion of goods annually Incorporated in 1999, headquartered in Silicon Valley Offices in Romania and India ~70 employees worldwide Multi-channel eCommerce Platform offering Customizable fully-hosted online store and shopping cart (FREE) Inventory, channel & business management solutions Reporting & analytics Dealio.com – Vendio’s comparison/social shopping site Acquired by Alibaba.com in 2010 – Now enabling B2B2C 3
7. Fees Continued. Fixed Price Items: $0.99 or higher = $0.50. Seems simple enough, but wait… Final value fees for auction-style format listings: If unsold no charge. $0.01 - $50.00, $50.01 - $1,000.00, $1,000.01 or more = 9.0% of sale price (maximum charge $50.00) Complex pricing! Trust me it gets more complicated from there.
8. With all the fees, what can you do to stay relevant and save some cash? Fixed Price/Store items are a great place to start. Stores start at $15.95 a month, with insertion fees as low as $0.10. Dependant on how much inventory you’re selling. Store subscriptions aren’t always cost effective - calculate the real cost per item.
9. List on eBay for Free! Take advantage of eBay’s special listing offers. List your items at 99 cents and take advantage of eBay’s free 100 listings per month. Keep an eye out for limited offers where you can start at any price and set a BIN for free. (Under My eBay page/Listing Offers) If your items are saved on Vendio or elsewhere, you can just change the price to $0.99 cents and re-list them. A good idea is to have a second eBay ID for special deals/offers.
10. Give and Get! Donate on eBay! Giving works, well actually works. Donate a portion or all of the worth of your item. Doing this increases your visibility on eBay, prorate your fees by percentage of what you give. Not a bad idea for obsolete inventory.
11. Get Rid Of That Obsolete Inventory! eBay has wholesale categories. Liquidate at cost, or even below cost to get rid of massive amounts of obsolete inventory.
12. No, really get rid of it! Make use of those customer contacts. Create a special sale day or coupon code and let all your customers know. (Vendio does this!) This type of offer works especially well via Twitter, Facebook and forums
13. The hazards of holding inventory Also known as “Carrying Costs.” Carrying costs are the costs associated with actually “having” inventory. If I have $100.00 in inventory, the actual yearly cost is somewhere around $122.00. You should have an idea of what your inventory carrying costs are so you can determine your profitability.
14. Not sure how to get rid of it? Vendio and Terapeak have just partnered to provide a fantastic research tool. Check it out and see what those items are worth!
15. Other ways to save… Vendio Gallery! Highlight up to 24 of your items on your eBay auctions. Oh, BTW it’s FREE!
16. Other ways to save… Buyer Appreciation-Build an ongoing relationship with your customers from the very first interaction. Also did I mention it’s FREE?
17. That’s great, but what about Amazon? One of your biggest competitors on Amazon IS Amazon. Unlike eBay you can’t have more than one username. Amazon provides conditions that you must choose to describe your items. It’s common for Amazon to hold your funds for up to 45-90 days while they review your account. You cannot block buyers. No counters to see how often your item has been viewed.
18. OK what’s the good news? You can bundle your items, which is a good idea for beating Amazon at their own “cross selling” game. The more you sell, the easier it is to negotiate fees. Seller Central Accounts have no listing fees! Easy to attach your listings to cataloged items. Unlike eBay, Amazon keeps your items up until you take them down. Amazon has restricted categories.
23. Vendio Platform—Channel Mgmt Simultaneous item publishing Single inventory item created and marketed across all channels Channel specific requirements simplified with “profiles” Inventory quantities kept in sync across channels as items sell User defines “stock out” risk to determine reserved quantities Includes refund management and inventory audit tracing Unified order and customer management Each channel has a unique and complex management system Merchants see a comprehensive view of all customer activity Customization lets each user tailor the experience to their needs Extensible through web services integration 23
25. Other Store Considerations Storage and Bandwidth SKU’s Search Engine Optimization (SEO) Security/ PCI Compliance Item & Order Management Third Party Integration CSE Feeds Customer Support Designs/ Templates Price
34. Add Items to the Store Vendio Stores feature full Inventory Management. Easily add and remove items for sale including post-sale functionality such as automating coupons to your past bidders. Manage one set of inventory from one dashboard, across your Vendio store and if you choose – other channels such as eBay, Amazon, Google (CSE).
35.
36. SEO 101 – How do you SEO? SEO is a ‘black box’ that is purposefully hard to understand. Pick target keywords Optimize page Title Content URL Description/ Images/ Meta Tags H1’s Secure Backlinks Free Tools Seobook.com / Seomoz.org Keyworddiscovery.com Google Insight and analytics Avoid “Black Hat” tactics (i.e, keyword stuffing, buying links and copying content)
So let’s get started by talking about SEO. I love SEO because while it may sound complicated and can get complicated, it’s actually very easy to implement and to meet the minimum threshold for a pretty big return. SEO stands for search engine optimization which means optimizing your website so that search engines can 1) find it or “index it” 2) determine its relevancy based upon the content of your website so that 3) they can rank your website in search results. SEO has become more and more important in the last few years which really raises the bar for website quality. The reason search engine traffic is so valuable is because users are actively seeking for information or a product and if your website shows up on the first page of search results, you will get essentially “free” website traffic which turns into sales. There are 5 things that you can do today to get started with SEO. First, look at your product line & determine what keywords people are using to describe your product. Create a short list of keywords that strike a balance between competitive (e.g. Designer Jeans) and detailed (e.g. Seven for all Mankind Flynt Jeans). Remember that you don’t have to cover every single product – again this goes back to figuring out what’s your area of expertise? Or, what can you create content on? Once you have the keyword list – you can then create meta tags. Meta tags tell search engines what your website is all about. They include page title & page description. Remember to create meta tags for each page. If you have the ability to do so – customize your URLs to be specific, keyword targeted. Search engine consider URLs also to be an important indicator of what your website is all about. Because search engines want to provide the best experience for the user, they look at the amount of content on your website that should again be targeted based on your initial set of keywords as well as external links pointing back to your website. The more external links from relevant, valuable websites, the better. One way of getting these back links is by creating external content – whether it’s via a blog, content site like eHow or directory listing. This is why social media which I’ll speak to next, has risen in prominence. I’ve included some of my favorite websites which have free and extremely useful tools to help you get started on selecting your keywords and furthering your SEO education. Google Insights is very cool because it can tell you trends in what people are searching for so that you can feature or perhaps even sell the right products during the right season. So when you’re looking to build a website – make sure you find one that allows you to easily edit your meta tags and content so that you can be flexible with running promotions according to selling trends. Also, it’s important to avoid “Black Hat” tactics such as keyword stuffing, link buying and copying someone else’s content. That’s why if you do decide to use an outside SEO agency or contractor – ask them specifically about their tactics.