Nick, Evan, and I are @ The Internet Retailer conference this week learning about the latest innovation in the online retailing space. I will be blogging from the conference this week providing LIVE top level takeaways for our BoostStrapping readers!
Morning Session 1 – 3rd Party eCommerce Platforms
While Nick and Evan are soaking up the latest in email marketing innovation next door I’m learning about 3rd Party eCommerce Platforms. Here is the speaker lineup and some top level take-aways from this session:
Speakers: Tom Funk - VP of Timberline Interactive, Thomas Rath – CEO Rock Bottom Golf, Ken Kikkawa – CEO eHobbies.com
Key Takeaways
eBay – A lot is changing at eBay, they have eliminated seller feedback of customers creating a one way feedback loop and have been changing their algorithm to favor power sellers in the rankings. Tom pointed out that eBay customers tend to me the “most needy” & less experienced online shoppers which for them results in 3 X the customer service needs. (TAKEAWAY – In a multi channel eCommerce environment measure customer service costs, transaction costs, and profitability across each channel.)
Yahoo Stores –Kent from eHobbies.com changed my perception of Yahoo! stores and taught us how customizable the Yahoo! store platform can be is if you leverage their deep developer network.
#1 TAKEAWAY FOR ME: When running an eCommerce business it is very important to embrace the multi-channel opportunities and not become too dependent on a specific channel such as eBay, Yahoo!, or even SEO. If any referral source for new business represents more than 50% of your new sales it’s time to diversify further.
Thomas gave us a coupon code to use for 10% off @ www.rockbottomgolf.com and I thought I’d pass it on to our BoostStrapping followers just in time for Father’s Day. Code = Chicago2008
~Micha Blogging Live from Chicago @ Internet Retailer 2008!
Diversification is key in any marketing portfolio and sometimes eCommerce channels get lost in the mix. Good refresher for us to remember, Micha!
Also, while I can appreciate the candor of Tom, I hope they don't lose their quality of customer service in an effort to reduce operational costs. That'd be unfortunate.
Looking forward to reading your live takeaways throughout the week!
-johnny
Posted by: Johnny Chan | June 09, 2008 at 07:34 PM