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