E-Commerce A to Z Event Presentation In Hyderabad
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This document discusses key topics related to growing an e-commerce business, including: 1) Understanding your target market and competitors is essential before marketing. Data analysis can reveal business trends and opportunities. 2) Marketing requires the right mix of online and offline channels, social media, mobile optimization, and testing new strategies. Performance must be closely tracked and optimized based on goals. 3) Non-marketing functions like the website, products, customer service, and deliveries significantly impact sales. Inventory, cash flows, and customer pain points like returns require attention. 4) Measuring key metrics at multiple levels and across dimensions can provide insights to increase retention, acquire new customers, and sell more to existing customers. Data
E-Commerce A to Z Event Presentation In Hyderabad
- 1. E-Commerce A to Z
- 2. Topics on the discussion today 1) Introduction to E-Commerce 2) Technology options available 3) Understand your business deeper 4) Marketing E-Commerce Business 5) Measuring of E-Commerce 6) Importance of non marketing divisions 7) Grow E-Commerce business 8) Closing notes 9) Question and Answers
- 4. What is E-Commerce? exchange of money for goods and services over the Internet. Flipkart.com Bookmyshow.com Great online shopping festival (GOSF)by Google started in 2012 www.thegosf.com This year it’s 11th to 13th Dec 2014
- 5. Types of E-Commerce? 1) B2C – Flipkart.com 2) B2B – Tradeindia.com 3) C2C – Olx.in 4) C2B – Google Adsense 4) C2G – Income tax e filling 5) E-learning – classteacher.com
- 6. Why it’s becoming popular? - It’s convenient – free home delivery - Low prices – save money - Saves time – for busy people - Anytime shopping from anywhere - Wider product range - Great discounts & coupons
- 7. Advantages for E-Retailers? - Don’t need fancy buildings & infrastructure - Can set up at low cost areas - Reduced man power - The need to maintain inventory - As growing population is constraint to find fancy locations - Developing infrastructure and internet connectivity
- 8. Top E-Commerce Sites India? 1) Flipkart – Myntra 2) Jabong 3) Amazon India 4) Snapdeal 5) Ebay India Source – Comscore 2013
- 9. Top E-Commerce Sites Global? 1) Amazon 2) Staples Inc 3) Apple 4) Walmart – only 3% online sales 5) Dell
- 10. E-Commerce Platforms (Self Hosted X Pre Hosted)
- 11. Self Hosted E-Commerce Platforms 1) Magento 2) PrestaShop 3) osCommerce 4) WooCommerce – for Wordpress 5) VirtueMart – for Joomla 6) Ubercart – for Drupal
- 12. Pre Hosted E-Commerce Platforms No technology hassles just monthly fee or commission based on sale 1) Shopify 2) Bigcartel 3) BigCommerce 4) 3D Cart 5) Amazon 6) EBay
- 14. Understand Your Business Better Before you Market
- 15. - What is the market size - Who are your prospects - What they do & demographic and psychographic - Who are competitors - What is your unique offering - Define your rules (Ex: what’s app no ads)
- 16. Understand Business Trends - Which day of the week you get more orders - What impact weather has on your business - What impact school holiday’s has - Which season or festival drives more sales - What products are most popular & why exactly - How other factors impact your sales - What is the % of new traffic & % of new orders - What is the % of mobile traffic, tablets & desktops - What traffic channel is driving quality traffic
- 17. Analyze all the available business data and understand the loop holes and hidden opportunities Ex: Snapdeal cash on deliveries
- 18. Hire Right People with Right Mix - Brand Marketers – Digital Marketer - Data Scientists – Data Analyst - Story Tellers – Content Writers - Growth Hackers – Innovative Marketer Make sure 50% of the team works on data Companies spend lot of money on advertising and marketing but not on the human resources & right talent
- 19. Invest Your Money in Right Proportions Marketing 50% People 30% Tools 20%
- 21. 1) Write your marketing objectives 2) Define your media plan 3) Create campaigns 4)Optimize continuously based on data analysis
- 22. Calculate CLTV and Don’t Spend CPA’s more than that to acquire a customer - At least 2 years data required - Only for existing businesses - For new business understand how much you can spend based on your revenue model
- 23. Don’t think your campaigns drive 100% new users Check your Google analytics reports, you see your campaigns driving returning visitors
- 24. Market on All Channels (online X offline) Every channel has it’s advantage
- 25. 1) SEO (Low cost, Trusted & Longer) 2) SMO (Reach, Viral & Traffic Driver) 3) Paid (Display & Search) (Instant, Quality, Result oriented) 4) SMM (Branding) 5) Email Marketing (Low cost & effective) 6) Content Marketing (Long lasting) 7) Affiliate Marketing (Additional channel) 8) Friend Referrals (Most trusted)
- 26. Importance of Social Media Facebook post life is 1 day & twitter’s it’s hours Can get lot of followers & likes but if not relevant no business value
- 27. Don’t Forget Mobile Marketing (first search may start on mobile) Get mobile app or optimized website
- 28. Remarketing is Important (Only for potential prospects) 1) Google Remarketing (Based on Cookies) 2) Facebook Retargeting (Based on Cookies & Emails)
- 29. Keep Close Eye on your Advertisements regularly. Where ever you are paying money directly needs daily attention
- 30. Get more reviews from customers…genuine customer reviews have lot of impact on the new customers
- 31. Keep Experimenting…have separate budget for experiments Growth hacker is the person spend this for his new ideas
- 32. Build Your Brand When some says the product name your brand should recall Ex: Google, Apple, Microsoft People have different opinions on brands, make sure your build them right
- 33. Automate Your Marketing - Use right tools to make your job easy - Sending personalized mails - Sending mails based on rules - PPC bidding - Complaint confirmation mails
- 34. Take risks and experiment your ideas ….you may find a gold mine for your business with new idea
- 36. Importance of Non Marketing Divisions Marketing accounts only 25% of ecommerce success
- 37. Your Website = Physical Store Keep it clean
- 38. Product is primary unit in retail. Keep products in stock always 20% of products drive 80% of sales. If a product is not selling check why not? Is it because product is in deeper category level or does not have demand?
- 39. Biggest pain to the customer to buy online is the quality of products, they can’t touch & feel the products. Most of the companies are trying to convince the customers by free 30 days return…but lenskart.com did it in different way…they built a feature that you can upload your pick and see how lens fit to you.
- 40. Cash Flows Another thing is cash on deliveries..it’s hurting like anything. 60% of the payments are cash on deliveries Companies charging additional on cash on deliveries…and working on rejections as well
- 41. Customer Support (Provide exceptional customer service) Only customer service team interact with the customers Provide them right service have right team to deal with customers. They should be able to manage all the situations & frustrations of the customers Respond to customer queries in less than 2 hour
- 42. Deliveries (In time & with proper packing) One of the important area & has lot of impact on customer satisfaction Delivery boys are the only people interact directly with customers in ecommerce. So, they represent whole company, make sure to train them right and have dress code to present the company in right manner
- 45. Implement Analytics Tracking On your store as well as Advertisements Each link should be tagged so, we know the value of all the marketing elements
- 46. Define your KPI’s (Micro X Macro) 1)Acquisition rate 2)Registration rate 3)Conversion rate 4)Retention rate What ever you want…..
- 47. Measure based on KPI’s
- 48. Understand Data Granular at Level Ad Group Level Data Campaign Level Data
- 49. Ad group level data with device split
- 50. Analyze Data from More Dimensions - by User Type - by Location - by Age - by Device - by Traffic Channel - by Campaign - by Keyword - by Operating System - by Behavior (site search users)
- 51. Your Site Search Data is the Valuable Source - New product ideas - Important products
- 52. Segment Traffic Before You Analyze Overall data gives your wrong understanding 1) Leaving in 10 secs 2) Leaving in a minute 3) Bounced X No bounced 4) Suspects 5) Prospects 6) New Customers 7) Returning Customers etc
- 53. Data Fool’s You Some Time Apply Human Intelligence Male order value - £54 | Female order value - £45
- 54. Right Team & Right Information Data analysis is most complex task You data scientist should know all the ins & outs of your business...if not you don’t get right insights
- 55. Data Analysis Heart of Ecommerce Right Talent Can Save Half of Your Marketing Budget and Drive 50% More Sales in you Store
- 58. Sell more to existing customers 1) Personalized suggestions 2) Cross selling 3) Up selling 4) Adding more new products 6% increase in sales
- 59. Increase the retention rates 1) Better & unforgettable service 2) Loyalty schemes
- 60. Acquire more new customers 1) Increasing product range 2) Selling specific product or brand which is not available anywhere (Moto mobiles on flipkart) 3) Spending more on marketing
- 61. Strategic Alliance Or Acquisition Or Merger Example: Google, Amazon Flipkart & Myntra
- 62. Useful Data for Aspiring E-Commerce Entrepreneurs (All the data is from the Indian online shoppers survey conducted in 2013)
- 63. Opportunity for E-Commerce? - Just at infant stage, huge market to occupy - India is the fastest growing country in ecommerce $675 billions $25 billions India's Retail Market Size by 2015 - 2016 Total Retail Market Size E-Commerce Market Size
- 64. 12 8 5 4.5 4.5 4 3 3 0 2 4 6 8 10 12 14 Internet Users In Millions Source: IAMAI
- 65. Source: Survey by baggout.com Twice & more in a month, 44% Once in a month, 31% Once in a quarter, 13% Very rarely, 11% Never, 2% How Frequently they Shop Online?
- 66. Source: Survey by baggout.com 0% 10% 20% 30% 40% 50% 60% 70% Cloths & Accessories Books Electronics Home Products Baby Products What Do they Buy in Online?
- 67. Source: Survey by baggout.com 70% 43% 81% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Convenience Variety Discounts & Cashbacks Why does Customers Buy in Online? Series1
- 68. Source: Survey by baggout.com 28% 55% 55% 30% 0% 10% 20% 30% 40% 50% 60% Credit/Debit Card & Personal Information Risk of Bad Quality Products Can't Look & Feel Fake/Biased Reviews What's Stopping to Buy in Online?
- 69. Source: Survey by baggout.com 41% 45% 12% 2% Impact of Friend’s Referral on Buying? Definitely Consider No Change Will Reduce
- 70. Source: Survey by baggout.com Yes, 41% Not a Problem, 26% May be, 24% No, 9% Is Product Suggestions Okay?
- 72. If you have courage to dream…you will be the next person in line to be in online business But it takes 5 – 7 years to get into profits
- 73. Select the niche area…understand the market size & your prospects…market them in right ways…do the best to serve your customer….you can make it
- 74. Around 200 E-Commerce ventures have been closed in India till now allschoolstuff.com So, It’s not an easy task If you go with me to business, the probability of failure is 90%, but it only 30% for innovative business ideas
- 75. Get an innovative idea or use your creativity a to create your market from the exiting market Tata Docomo’s creativity shaken the entire telecom industry
- 76. If you set up a company “Your every day’s & single goal is to keep it alive for tomorrow…at any cost”
- 77. If you set up a company “Your every day’s & single goal is to keep it alive for tomorrow…at any cost”