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Is the art niche easier to sell in or the watches niche?

Especially during these days. Also can you rate different niches difficulties to sell in.

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Made a discord for any entrepreneurs to network with each other

Hi everyone,

So I just made a discord for fellow entrepreneurs to chat and network with each other. I think it’s important for people to get to communicate with others who are in the same field and bounce ideas off of each other. If anyone is interested the link is https://discord.gf/3qkrEY

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Amid Covid-19, it’s time to build

“It’s Time to Build” is a popular blog post by Marc Andreessen, the Internet pioneer and investor. He wrote it in April 2020 at the onset of the worldwide pandemic.

Andreesen believes the pandemic is a failure of all of us to build governmental and commercial solutions to current and future societal needs.

The post is controversial to some. But not to me. Covid-19 is here, and it’s not going away anytime soon. Ecommerce businesses are lucky. Amid the global pandemic, our industry is thriving and pushing forward.

Fringe Sport, my company, exists to improve lives through strength. We do this by helping folks build amazing garage and community gyms. It seems a lot of people want to build a gym in their garage these days, and we are here to assist.

I’ve taken “It’s Time to Build” to heart. Perhaps all of us in ecommerce can focus on it.

What does it mean to build?

With the coronavirus, there is a strong desire to maintain, to wait it out. We must reject that. We must create. We must make things better. We must help people.

Help your customers

The first people to help are customers. Starting in the early days of the pandemic, Fringe Sport experienced a burst in sales. People (customers) were looking for certainty in a time of uncertainty. But for us, this burst of sales strained (or broke) our operations. We had to prioritize what to fix.

First, we focused on being able to ship orders quickly. This was not easy! It meant a lot of work on our processes, procedures, and systems. It also meant hiring more employees. We hired seemingly anyone we could get our hands on. Referrals from employees and friends led to awesome new team members.

Next, we scaled our supply chain. Early on we recognized that the sales burst could continue. We worked with our suppliers to increase deliveries so we could get products to our customers. We were successful, but the process is not complete.

Another bottleneck was customer support. What we thought were infrequent customer service issues became an avalanche. We built out the team, processes, and systems to provide quality support. Our customers are desperate for products to improve their strength, fitness, and mental health during a pandemic. They wanted certainty in a world without it.

Help your employees

I’ve always strived to make Fringe Sport a fantastic place for the right employees. We have a robust benefits package, which we’ve expanded with Covid. We provide masks for every employee. We explain the Covid risks. We encourage them to comply with masks and social distancing, even when they aren’t at work. We also remind them that if Covid affects them or their families, we’ll stand behind them with time off and other resources. We’re looking at adding even more benefits to make Fringe Sport an even better place.

Help your business

Build your business! We’ve long struggled with systems and processes at Fringe Sport. And then Covid hit. It was transforming. We had much less time, yet we were able to move quickly to fix the broken areas. There’s a saying, “If you want something done, give it to a busy person.” When we got busy, we got things done!

Help your family

Don’t neglect your family. The pandemic has created uncertainty for everyone — including our families. I mostly work from home now. I’ve assisted my wife and kids to stay safe and feel safe. I’m trying to provide leadership that my family needs.

Help the world

And finally, I’m striving to help the world and my community. There’s now massive global confusion and a lack of leadership. I’m trying to radiate calm and certainty while avoiding political bickering.

In short, I’m here to help. And I’m here to build.

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How can I tell is a payment solution like Sezzle is helping sales or just getting sales that would have come in anyway?

So, I've got an ecomm store and we just rolled out "Sezzle".

This is a payment processor that pays me now for customer orders, and then lets the customers make payments later to cover the cost of the goods.

I wind up paying 6% of the gross order value instead of the 3% or so that I would normally pay to the credit card companies.

Sezzle wound up being 14% of sales in July.

Any idea how I can determine if these orders would have come in anyway?

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Website Feedback

Hey,

I've been working on this site for quite a bit. Do review the site and let me know on how you like it.
Link: www.beerme.sg

Things I am looking for are:
User Experience
Uniqueness
Professionalism
Speed of the site

Any other not feedback is welcomed.

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4 Lessons From the 2020 Markie Awards

Every year brings a new crop of nominations for the Oracle Markie Awards, now going on its 14th year, and there’s very little that makes me prouder than reviewing the dozens of nominations in the many categories within sales, marketing, service, and commerce. Not just because the nominees are Oracle customers, but because of their eagerness to push innovation and to share the best practices they’ve developed through these awards.

These best practices refute the idea that marketing and sales are more of an art form, driven by intuition, inspiration, and creative genius, than a structured way of doing things with a right way and a wrong way.

The nominees for the Markie awards exemplify how the best companies use data – not hunches — to drive decisions. George Anders, a senior editor at LinkedIn, makes the point that our intuition “can be wrong as much as 90% of the time.”

1.) There’s a science to sales and marketing

The Markies are a celebration of the idea that there’s a science to sales and marketing – that there’s a right way to use real-time segments, a right way to use audiences, a right way to design and measure campaign effectiveness, and to use machine learning to prescribe next best actions for marketers or sellers.

The more automation is used in marketing, and the more our customers experiment with machine learning and other emerging technologies in the context of sales and marketing, the more they’re discovering patterns of success that are as recognizable in the front office as they are in the back office.

2.) What do you do when your customer is the innovator?

It has become a truism in our industry that customers are the innovators – but where does that leave the enterprise?

Today, there is no shortage of signals coming from our customers – they’re telling us with every mouse click, email open, survey response, purchase – and decision not to purchase.

They could be telling us, for instance, that they want to book two hotel rooms at a resort, and that they have two children under 10 years of age. They’re also telling us they don’t want to travel very far from home because they’re not willing to take an airplane. They may have told us in the past that they weren’t interested in outdoor activities like camping and hiking, but given the current environment, they’ve changed their mind.

The resort company’s job is to suggest someplace within driving distance, with nature trails and kayaking nearby, and a very hygienic hotel suite with adjoining rooms so the adults can have some alone time while still keeping their kids within earshot.

In other words, the company’s job – it’s only job – is to curate an experience based on the signals it gets from the data its customers are giving it. For the privilege of giving us access to their data, customers are telling us they expect exceptionally personalized service, and that’s something only possible at scale with the right application of technology.

3.) Borrowing from across the hall

Another lesson I’ve observed is the sudden disappearance of the “not-invented-here” syndrome. Organizations tend to mimic (not to say copy) from their peers, which makes sense if you buy into the idea that your particular industry offers experiences that are dramatically different from any other.

But that’s seeing the issue from the inside out; seen from the outside, consumer experiences are homogenous across the board. Did the company understand my needs? Did the person I dealt with help me solve my problem immediately, in a single interaction? Did the recommendation they made correspond to my needs?

What we’re seeing today is that organizations are looking at the best ideas for solving problems and providing service, irrespective of the industry that is adopting it. And this makes sense as customers, like employees, don’t see themselves as retail customers or hospitality customers or education customers. They see themselves as individuals, and the organizations that treat them as individuals are likeliest to build a long-term relationship with them, irrespective of their industry.

4.)  It takes a village

If it takes data to make smarter decisions, you can probably guess that it takes a multitude of tools to get this science right. It takes inputs from a variety of sources, including traditional outbound marketing campaigns, reams of data coming in, the ability to store and analyze that data, and the ability to analyze and to make suggestions in real time.

That requires an effective suite of applications all working together, creating the kind of efficiencies that today’s market requires.

It also requires an effective network of partners, which is why this year we’ve added two new categories to our awards, as a shout-out to the great Independent Software Vendors and Systems Integrators in our industry.

In congratulating the finalists and winners (you can see them listed here), I can say that I’m already looking forward to next year and the furtherance of science-based marketing.

Click to see the winners!

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11 Elements of High-Converting Product Pages

From writing headlines to creating urgency, make the most of your product pages with these 11 elements. Increase conversions, please customers, & grow revenue!

The post 11 Elements of High-Converting Product Pages appeared first on WooCommerce.

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Please give me tips on my store. I

I recently posted here and received great feedback! I made a lot of changes to my site but I am still not seeing an increase in conversions. If anyone has any feedback or critiques to make my site or ads better it is much appreciated. My site: halobeautyring.com My ads: https://imgur.com/a/5nOwYfK

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Who Reads Practical Ecommerce? Please Take Our Short Survey

Please take a minute or two to respond to our latest reader survey. We do this periodically to help ensure our editorial content matches your needs.

Our August 2020 survey consists of five quick multiple-choice questions.

Beyond that, there’s an optional suggestion box and an optional signup form for a chance to win a $50 gift certificate from Starbucks.

The survey is short and quick. Your answers — which are confidential — will help us tailor our articles, webinars, and podcasts to you and your business.

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Amazon’s 16% bite of Deliveroo finally clears UK competition probe

It's official: Days after Amazon CEO Jeff Bezos was peppered with awkward questions by US lawmakers concerned about the market power of his ecommerce empire, the UK's competition regulator has confirmed it's happy for the tech giant to take a 16% bite out of local on-demand food delivery app, Deliveroo.

The CMA had been investigating the planned stake for some 15 months, completing phase one of its scrutiny in December. At the time it decided it had enough concerns to move to a phase 2 probe — chewing over whether or not the stake might discourage Amazon from re-entering the online restaurant food market and “further developing its presence within the online convenience grocery delivery market in the UK”, as it put it.

Soon after the regulator started in on this work COVID-19 struck Europe — impacting investigation as it had a marked impact on Deliveroo's business. Initially the impact of the coronavirus looked negative, with Deliveroo claiming it would have gone out of business without Amazon's stake. The CMA concurred with this analysis, treating it as a “failing firm” and reasoning that Deliveroo's exit from the market would have been worse for competition — thereby provisionally clearing the Amazon stake in April.

Then again in June the regulator provisionally cleared the deal — although it now no longer considered Deliveroo failing, being as, from April 2020, it found a sharper than expected recovery in the restaurant food delivery market, as well as a shift in the restaurant ‘mix’ (“towards smaller, independent restaurants and away from large fast food chains”) — both of which resulted in money being poured into Deliveroo's coffers. Yet then — with the startup's finances experiencing “rapid and significant turnaround” — the regulator felt it necessary to complete a “substantive assessment” to of the risks to competition.

Now it's finally concluded that Amazon's 16% stake does not cross the competitive risk threshold. So Bezos can crack out the bubble — assuming he knows what the heck Deliveroo is of course.

The CMA said its decision to clear the deal on competition grounds is “the culmination of extensive analysis of internal documents from Amazon and Deliveroo, a survey of more than 3,000 consumers, and extensive submissions from interested third parties”.

It said the assessment looked at how a 16% shareholding by Amazon would “affect its incentives to compete independently with Deliveroo in both restaurant delivery and online convenience grocery delivery in the coming years”.

“The CMA ultimately found that this level of investment will not substantially lessen competition in either market. However, if Amazon were to acquire a greater level of control over Deliveroo — through, for example, acquiring a controlling interest in the company — this could trigger a further investigation by the CMA,” it added.

Commenting further in a statement, Stuart McIntosh, inquiry chair, said: “Taking account of the higher legal standard that applies at Phase 2, the Group has concluded that the transaction will not result in a substantial lessening of competition in either restaurant delivery or convenience grocery delivery.”

McIntosh was also at pains to emphasize that the decision reflects the scale of the investment and Amazon ‘s “incentives to compete in both markets” — reiterating the warning that should Amazon try to increase its share of Deliveroo a fresh investigation may be triggered. 

The announcement that Amazon was leading a $575 million Series G investment in the UK food delivery app business dates back to May 2019.

The move signalled a second act for the ecommerce behemoth in the UK food delivery market, after it launched an on-demand food delivery offer with London restaurants for Prime members back in 2016. However it went on to shutter the effort a couple of years later — having faced fierce competition from the likes of Deliveroo and Uber Eats.

Responding to the CMA's clearance of the Amazon stake, Deliveroo emphasized that “none of the five ‘Theories of Harm’ on which the CMA based its investigation have been substantiated”.

A company spokesperson also emailed this statement:

We are delighted that the CMA has concluded its 15 month investigation and that the Amazon minority investment can now go ahead.

This is fantastic news for UK customers and restaurants, and for the British economy. British born Deliveroo will use the investment to increase choice and value for customers, support for restaurants and will be able to offer more riders the flexible work they value as the company expands.

Deliveroo is excited that Amazon, the most customer-obsessed and innovative company in the world, has shown such a huge vote of confidence in Deliveroo and chosen to invest in the company’s future.

The company offered some updated business metrics, saying there are now 100,000 restaurants on its platform globally, with 30,000 joining this year alone — which it claimed points to “the extent to which the Covid crisis has seen restaurants turn to delivery as a vital source of revenue”.

“75,000 of the restaurants who work with Deliveroo globally are small, independent restaurants who have been hit hardest by the pandemic,” it added.