Show notes
Multi-channel marketing is all the rage. Most smart e-commerce entrepreneurs know that having one e commerce sales channel is an unacceptable concentration risk for their business. Launching a new ecommerce sales channel seems like the obvious answer. And, just to be clear, we think it is!
However, launching a new sales channel or launching a product on a new e commerce marketplace is not without its challenges. Seeing the logic in starting a new sales channel is one thing. But making it work in practice is another. The main thing is to not fall into some classic traps.
In today’s show, we discuss 5 classic traps (and one “bonus trap”) that e-commerce operators fall into when starting up a new e commerce sales channel. And of course, we discuss how to avoid those mistakes.
What you’ll learn
* Why all sales channels are not born equal
* How amazon.com (US) is different from say amazon.it
* Some critical differences between Etsy and Shopify
* How the Math of profitability varies between platforms
* Some client examples of wrong strategies – and what works best instead
* How Jason and Cinnamon got 50X the price the competition got – from off-platform marketing!
* The critical error marketers make when planning the time & effort needed to launch a new sales channel
* When outsourcing to an expert helps – and when it’s a trap (or worse!)
* Why smart eCommerce entrepreneurs end up discounting their own knowledge
* The 3 foundations you need to put in place before you launch a new e commerce sales channel
* How to maximise the chances of success with a new e commerce channel
* The thing you need to do first before you even start something new
Resources
* Real Real
* Poshmark
* Fbmarketplace
* Offerup
* Teachable/Kajabi
However, launching a new sales channel or launching a product on a new e commerce marketplace is not without its challenges. Seeing the logic in starting a new sales channel is one thing. But making it work in practice is another. The main thing is to not fall into some classic traps.
In today’s show, we discuss 5 classic traps (and one “bonus trap”) that e-commerce operators fall into when starting up a new e commerce sales channel. And of course, we discuss how to avoid those mistakes.
What you’ll learn
* Why all sales channels are not born equal
* How amazon.com (US) is different from say amazon.it
* Some critical differences between Etsy and Shopify
* How the Math of profitability varies between platforms
* Some client examples of wrong strategies – and what works best instead
* How Jason and Cinnamon got 50X the price the competition got – from off-platform marketing!
* The critical error marketers make when planning the time & effort needed to launch a new sales channel
* When outsourcing to an expert helps – and when it’s a trap (or worse!)
* Why smart eCommerce entrepreneurs end up discounting their own knowledge
* The 3 foundations you need to put in place before you launch a new e commerce sales channel
* How to maximise the chances of success with a new e commerce channel
* The thing you need to do first before you even start something new
Resources
* Real Real
* Poshmark
* Fbmarketplace
* Offerup
* Teachable/Kajabi