How To Leverage The Top Retailers In The World – Module 1 – Part 2 – eCommerce Unlocked

Today is another day of eCommerce Unlocked, and today we're going to be diving into sales channels.

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eCommerce Unlocked Playlist (Full course):

Amazon:
eBay:
Etsy:
Newegg:
Apple Pay:
Paypal:
Google Wallet:

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Nowadays, smartphones make up the majority of eCommerce transactions. More people are shopping through smartphones than they are from their desktop computers. So what's going to happen next? What do millennials want? What do people want? Well, trends continually change, and if you adapt, that's how you win.

And before we go over the sales landscape, I wanted to first break down some of the history so you can see how eCommerce has adopted over time. Trends are very important because if you ride the trends, you can ride those waves and catch a lot of sales.

So what's working in eCommerce right now? Well, if you're not paying attention to other businesses out there, products that are working, the marketing tactics, you're going to be in that 80% just like everyone else, where you have this eCommerce store and you're not really generating any sales.

Most marketing tactics don't work. Following what everyone else is doing is going to lead you to fail because most people fail when they create an online business. It's usually due to low sales, or lack of experience, or tons of competition. No matter what your business is, if you make enough sales, everything else pretty much takes care of itself.

See, in eCommerce, you don't just have to sell products on your own websites. You could take some of these other stores that are really popular, like Amazon or Walmart, and start selling products on these sites as well. With Amazon, yes, they take a percentage of the transaction, but at the end of the day, you could end up making a lot of money by just having your products on Amazon.

When you choose the right sales channels for your business, you can leverage their infrastructure and allow you to get more visibility and generate more revenue. There are a lot of different sales channels out there, and each one has their own pros and cons, and we'll cover most of them, but I want to dive into a few of them right now.

So Amazon, of course, is the number one site out there when it comes to eCommerce. According to research, 55% of Americans begin their product search with Amazon. It's easy to use. They have a huge multi, you know, billion, actually, trillion plus dollar market cap, and they're continually growing at a fast pace.

Then there's eBay. It's a marketplace that connects buyers and sellers directly together. Auction-based system. You can have a buy-it-now option.

And if you're going to do handmade goods, Etsy is the place to go. They charge a listing fee plus per transaction. They also have a multi-billion-dollar market cap.

If you have a technology company and you're selling technology products like, let's say, computers, you can go to Newegg. It's a great channel for that. They have billions of dollars in transactions on Newegg. It reaches more than 20 countries and more than 40 million customers.

So you got to look at all these channels. And also figure out, "Hey, my product, is it right for that channel, "but also, can I make good money on that channel?" Because sometimes their listing fees may be too high based on your margin. You got to take all those things into account.

So when you're developing your eCommerce strategy, you need to look at things like your audience, where are they, the payment processing systems. Does your audience prefer Apple Pay or Paypal or Google Wallet? And how do those payment processing channels interact with some of the platforms out there? All these things will affect where you need to list your items.

Most people will start with their own website, and that's fine. But remember, if you list on your own website, you have to do your own marketing. When you list on one of these other websites, they already have visitors. Sure, you may have to do marketing on their own platform, but they already have the eyeballs. You just got to convince those eyeballs to go to your product instead of someone else's.

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    23 Responses to How To Leverage The Top Retailers In The World – Module 1 – Part 2 – eCommerce Unlocked

    1. MR. COOL June 25, 2020 at 2:04 pm #

      Thank you sir for such an amazing video

    2. Mian Arslan June 25, 2020 at 2:05 pm #

      Thanks, Neil Sir.

    3. Prince Sharma June 25, 2020 at 2:07 pm #

      Hello sir , I’m following your footsteps thnx for your help :^)

    4. Muhammad Junaid June 25, 2020 at 2:18 pm #

      Thank you for such a valuable course, Neil. Will you explain about dropshipping, alibaba and all those stuff in the upcoming videos?

      • Let's Learn June 25, 2020 at 2:57 pm #

        I’m interested in dropshipping too!

    5. Tejas Salvi June 25, 2020 at 2:25 pm #

      Thank You!

    6. Manoj Agadi June 25, 2020 at 2:25 pm #

      Very Good Informative Video sir on how to start regarding choosing the relevant E Commerce channel for the business.

    7. Rohan Shinde June 25, 2020 at 2:29 pm #

      Thank U !

    8. Shivam Pareek June 25, 2020 at 2:33 pm #

      Thanks sir

    9. Bhavya kher June 25, 2020 at 2:39 pm #

      Hi Sir, I am your students back in 2015 with your ADVANCED Digital Marketing course & Today I am trainer with my own e-commerce firm.Thank u so much Grandmaster…

      Need to ask – Should I restart my e-commerce again currently in this pandemic situation.? Need ur suggestion

      Thanks

      • Neil Patel June 25, 2020 at 3:36 pm #

        Do you feel it’s necessary to restart it? It’s hard for me to say without knowing the context.

    10. Daniele Zabrini June 25, 2020 at 2:43 pm #

      Great! Will you cover Google merchant store?

      • Neil Patel June 25, 2020 at 3:35 pm #

        Thanks for the suggestion 🙂

    11. Let's Learn June 25, 2020 at 2:57 pm #

      Hey Neil, how much average % margin should I have on my products?

      • Neil Patel June 25, 2020 at 3:37 pm #

        It depends on the product but a general rule on thumb is about 10%. Some products can be much higher than that.

    12. lifetimeyogi June 25, 2020 at 3:07 pm #

      neil just love your vids man…

      • Neil Patel June 25, 2020 at 3:37 pm #

        Glad you like them 🙂

    13. Ocean Wheel June 25, 2020 at 3:12 pm #

      Helpful content thanks Neil sir.

      • Neil Patel June 25, 2020 at 3:37 pm #

        Glad you think so!

    14. Marjina Mozid June 25, 2020 at 3:22 pm #

      Will you cover service agency marketing (drop servicing) as well?

    15. Omario of western Sahara June 25, 2020 at 3:32 pm #

      But what if I’m dropshipping?

    16. Inderdeep Singh June 25, 2020 at 6:39 pm #

      Hey Neil, Do you think that India-China conflict will affect E-commerce market in India as indian government is taking draconian steps to curb china import gradually.

    17. Dylan Smith June 25, 2020 at 9:00 pm #

      Hey Neil thank you for doing what you do. I want to become a marketing savant and I have been watching all your videos religiously. I would like to meet you someday, do you participate in many conventions or conferences?

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