Ten Golden Rules of eCommerce – What should you know?

What does it take to sell profitably and successfully online?

If you ask that question in ten different places, you will most likely get a million different answers!

eCommerce

Ten Golden Rules for eCommerce

But not today at 12:30

Today Jay Berkowitz and I will discuss the Ten Golden Rules of eCommerce in a Internet Marketing Club Webinar

I am a member of the Internet Marketing Club but have known Jay for several years. I was and am honored that he selected me to co host this webinar which may eventually be morphed into a book. Lately I have been concentrating on many aspects of eCommerce development while creating my latest project BonanzleStore bonanzlestore-logo

In today's Webinar we will discuss Search Engine friendly eCommerce, how to choose the difference between selling on a large venue like eBay or Amazon or Bonanzle and your own website or both and much much more.

So join us TODAY at 12:30 PM EST at Go To Meeting!

Multiple Channels – Where do you List Your Products? eBay, Amazon, Etsy, Bonanzle or?

Our last poll asked if our readers were selling on multiple platforms, just eBay or on thier own eCommerce website?

The results from just one days of replies was overwhelmingly in favor of multiple channel selling with 63% of the respondents affirming that they do indeed market product on multiple venues other than their own ecommerce website.

Today we will ask where you are actually selling product or offering product in these channels.  Obviously we could not list every channel available so we will leave the ones you suggest in the comments section for another poll.  For this poll we will simply ask about the majors and it is multiple choice so click on every place you utilize that is on the poll.

Has eBay spoiled merchants with its renowned "Firehose of Traffic"

Ok... here is the deal

Traffic

Traffic

If you sell products on the Internet - It's your job to make sure buyers find and buy those products.

Simple as that.

Seems obvious, right? -  Of course it is... when one thinks about it...

Yet if this is true, if it is your job and no one elses, why do we hear so much about the dissatisfaction from sellers on almost any of the online sales venues out there, (including eBay) based on the belief that they do not get enough traffic on these external sites?

Lets look at why the world clamored to join eBay back in the day.

  1. It was easy - no shopping cart - no website - no hassle, just sign up and sell.
  2. eBay provided buyers - again, easy - no Adwords, no traffic strategies, very little SEO work - easy.
  3. Community - it was easy to feel like you were part of something, learn from others, be part of a phenomenon - belonging to something bigger than your business - it was great.

Much has been observed, and written, which indicates these attributes may have faded or gone away completely at eBay.  Not for all, certainly... but for more merchants than eBay would like to admit.  It has been mentioned in many places that over 100 members of eBay's oldest Powerselling association, PESA have left eBay completely.  100 members may not seem like much to a big conglomerate, but these were the most successful and most loyal, not to mention the most proficient merchants on the site.  When that many leave in one year, something has changed, and not in a feel good Obama way.

Now lets agree...

  1. eBay is still easy to list product on, but not nearly as easy to sell product consistently as it once was. The playing field has not just changed, it has been altered in such a drastic way that the goal posts are no longer within the field of play.  This does not mean that with the right kicker, you can't convert, but your team has to be firing on all cylinders to compete in the big game.
  2. Buyers are not easy to find - anywhere. Commerce continues, but the days of a setting up shop in one strip mall on the main drag in town have pretty much ended.  To succeed, one must place themselves within many streams of traffic. One venue selling is akin to committing suicide before you open shop.
  3. Community - any community left at eBay is less than inspirational. Time to find your own select group of respected mentors and colleagues. Some call this a mastermind group, others call it the Rotary. Whatever you call it, the eBay discussion groups are not the place to look.  Join PESA /ECMTA or some other ecommerce group, find like minded individuals who can help you find the best way to your goal. Listening to people gripe and complain will only lead to much ado about nothing.

eBay has spoiled merchants with its renowned "Firehose of Traffic"

Now that the "fire hose" may be more like a garden hose for some merchants it seems everyone wants to point fingers and call foul.  OK - Reality check - here it is, you ready?

eBay does not owe you anything.

That's right, eBay owes you nothing, NADA - zip.  If you're not happy with the results on eBay or anywhere else, do not expect someone, or some company to change things to accomodate your business needs.

You can complain, or change the way your business operates. Another simple fact.

In my business as a ebay stores designer, website developer, and as a reasonably well respected blog publisher/author... I have seen and spoken with many sellers who are leaving eBay.  This migration is not a myth, it is survival. 

But are they leaving because they do not like change?  Or due to an over abundance of anger and confusion. 

Better yet, are they leaving because they have found better or more profitable selling grounds?

I think it is a bit of both.  I also know that eBay really is not concerned with the migration away from their site by sellers large and small. I realize it may hurt to hear eBay is not concerned, especially with the former community aspect eBay brought to the table, but it is the cold hard truth. 

eBay is not in business to worry about you, or your business.  

You should stop worrying about what eBay does or does not do, and start worrying about what you will do from this point forward. 

I am not advocating leaving eBay or any other selling venue be it Bonanzle, Etsy or Craigslist, if that venue works for your business.  But if it is not working, and you find youself voicing negative and non-productive laments about how things were, it is past the time to look outside of whatever box you may found yourself within and to start looking forward. 

Where will your online business be in five years?

Larger merchants have more resources and more options, many have built up stand alone websites with eCommerce shopping carts, inbound linking and established traffic. What of the smaller merchants?

Small merchants were/are the backbone of eBay.

Smaller merchants are most effected by this last year of rules changes at eBay.  Some of these same merchants are pondering, looking, hoping for some way forward. 

Others are taking steps forward, which will you be?

Establishing a new and profitable place on the Internet to offer goods or services no longer is dependent on some greater entity like eBay.  The cost of an eCommerce shopping cart website is much less in 2008 than it was back when eBay spread the online sales gospel. There are other exciting and creative ways to take advantage of the services and ease of use of the larger sites, without placing all of your business bets on that one outside site or venue.

Other avenues exist and easier, less expensive methods to market product are available now. 

Take advantage of the availability and ease of entry - just like many did when eBay began. 

In our next article, I will detail how two merchants, one who sold on eBay but does so no longer, and another who still sells on eBay... Are finding new avenues to present themselves and their businesses online.  Both of these merchants are clients of my company but neither came to the conclusion to move outside of eBay based upon our advise. Each knows that generating and funneling traffic to a spot in the cyber shopping world, that they own, is in in their own best interest.  Not only is it in their best interest, it is essential to be in business. 

As I said recently on a Talk Radio Show...

 "If you do not invest in your business - you have no business"...

"...what you have is a hobby".

Will these two small merchants succeed?

Time will tell, but I can say that they each seem to be as enthusiastic about the future as they once were about the exciting times they each experienced on eBay in the past. 

Until next time...

Wednesday 1:14

eBay Competitors Take a Lesson – Traffic is king – Long Live Traffic

Lessons of eBay - Traffic is king - Long Live Traffic

Recently, I wrote an article highlighting the traffic history of three of eBay competitors, Compete: OnlineAuction.com vs Bonanzle.com vs. etsy.com

The article on iBusinessLogic.com/blog highlights the relatively flat traffic levels of two of the three sites, with etsy being the clear winner when looking at both growth and monthly visitors to the site. To be fair, Bonanzle has not been in the race long enough to be compared in this way (Bonanzle opened for business in June 2008) and Compete.com figures are not always considered the most accurate.

The current climate of disruption at eBay makes it no surprise that competitors new and old have tried to seize the day by collecting as many of the fleeing sellers as possible for their own sites.  Attracting sellers is certainly an important part of building a new online marketplace but it is only half of the battle.

Every seller looking for a new venue is seeking buyers, any venue who can provide buyer traffic will have no trouble attracting eBay sellers.

It is a catch 22 situation and it appears sites like Onlineauction.com are caught up in the vortex.  Online Auction has a vibrant and engaged seller community yet the buyer traffic is slim, the same thing could be said for many other would be eBay heirs.

eBay certainly has the traffic numbers (or had) to make almost any competitor short of Amazon seem almost a trivial pursuit.  But how did eBay get to that point?  What was it that made eBay an almost overnight success and kept them on a steady growth curve for so long?

Lessons can be learned about the early success at eBay which today's new and fresh competition (like Bonanzle) should mimic to grow beyond current expectations. I think Bonanzle has attempted to mirror some of the early eBay elan' but are they there yet?

Lets look at what eBay had going for them in the late 1990's. Admittedly some of these market factors could not be replicated now (no competition, barrier to entry for sellers elsewhere) yet some factors can be replicated by any of todays upstart eBay alternatives.

  1. eBay provided a community of buyers and sellers and promoted the one on one communications between these two groups. eBay no longer provides this social interaction, many alternative sites do - good job!
  2. eBay was an easy way to get products online - easy to sell with minimal friction. (Once again, no longer true at eBay but sites like Bonanzle and etsy have this wrapped up). Good Job for Alternatives
  3. eBay was the place to find the unusual, unique and outlandish - No longer the story at eBay. Some alternatives are working hard to fill this niche - Good Job!
  4. eBay was a fair playing field, designed to allow the small merchant or at home sellers the ability to have equal standing with huge retailers. - Not true any longer.  A message more of the alternatives should trumpet, true in most cases on competetive sites however. Good Job!
  5. eBay opened up a Worldwide marketplace - Still true, to its detriment sometimes - Asian knock offs flooding categories and killing perceived value.
  6. eBay provided a searchable database of merchandise from around the world - Not always the best of search but early on it was the only search - now it is a broken search.  Alternatives should focus on making sure search is always functional and easly to use.
  7. eBay brought buyers and traffic with partner relationships. The obvious early partners were Google and Yahoo. Yahoo is still with eBay, Google not so much. Alternative sites need to find ways to make sure they maintain a good relationship with Google - This is Crucual.
  8. eBay took advantage of mass marketing via affiliates through Commision Junction - now they have almost strangled the relationship they enjoyed for so long with affiliates with the switch to the eBay Partner Network.
Point #8 is the genesis of this article and from what I can determine, outside of OnlineAuction.com's very basic and nearly unusable user affiliate program, no eBay alternative sites are utilizing the power of affiliate marketing.

Effective Affiliate marketing can propel any website to the top of the leaderboard in traffic from buyers in a matter of mere months.  Utilized in the right way an affiliate program will build any sites page rank and inbound links exponentially in a matter of weeks. eBay shared the wealth with affiliates and Google early on and it worked for them in a grand and glorious fashion.

I question why sites who want to tackle the giant of eBay when it has shown its weaknesses have not utilized this simple method of attracting new users and visitors. Affiliate Marketing.

eBay affiliates are a major reason why the company enjoyed success for so long.

With thousands of small sites all feeding traffic in varying amounts to the mothership of eBay. The steady and meteoric growth of eBay was assured.
Every river has its tributaries and if eBay is a river (sorry Amazon) then affiliates are its streams and creeks. Today, those streams have been choked with pollution in the form of EPN and they are seeking a new course.

Which eBay competetor will give those affiliate streams a place to send the water?

Contribute to an Article about eBay Competition, Amazon, Etsy, OnlineAuction or eCommerce Website?

WritingI am very honored to have been commissioned to research and write an article for a major publication.

This article will focus upon the general interest and the genuine need of eBay centric online merchants to learn about options available to them beyond eBay.

We all know and have discussed the evolution of the eBay system into a new and as yet undefined platform. Much of the old eBay that many merchants relied upon and understood has changed or will change in the near future.

eBay remains a powerhouse of eCommerce traffic and will remain so for some time.  Yet, it has become apparent  to most merchants in the eBay community that relying completely on a single venue may not be the best business plan.  eBay merchants are hungry for information pertaining to diversification of risk and secondary channels.

The question remains, and it seems to be an often asked question... Where do I go, outside of eBay?  What platforms should merchants look to for merchandising inventory online? Continue reading “Contribute to an Article about eBay Competition, Amazon, Etsy, OnlineAuction or eCommerce Website?” »