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Selling Online Slides

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Slides that accompany the digitalLincs "Selling Online" workshops.
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Selling Online
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Page 1: Selling Online Slides

Selling Online

Page 2: Selling Online Slides

The team:

Dave Briggs>>Fraser Henderson<<

>> Tim Wilson<<

Kind of Digital

Page 3: Selling Online Slides

Other opportunities for your businessWorkshop Programme, Summer 2012

Back to Web Basics

>> Selling Online <<

Digital Marketing

Social Media for Business

Running a business digitally

Page 4: Selling Online Slides

Online communitywww.digitalLincs.com

Page 5: Selling Online Slides

Housekeeping

• Fire exits• Mobiles off/silent mode• ERDF Forms• Breaks

Page 6: Selling Online Slides

Agenda6.00 -7.30pm

Topics

• eCommerce Landscape

• Buyers

• Selling options

• Online retail design

• Payments• Pricing• Payment processing• Regulations• Distance Selling• Fulfilling orders

Page 7: Selling Online Slides

Introductions and objectives

What do you buy and sell?

Page 8: Selling Online Slides

Your Online Shopping Experience

How much does it cost to buy everything on iTunes?

£9.7m to buy everything on iTunes

Page 9: Selling Online Slides

e-commerce landscape• eCommerce accounts

for 9.1% of all retail sales in UK.

• 45% of in store purchases influenced by online research.

• There are few “100% online only” retailers.

Change …• Increasing acceptance

and need to be online by consumers.

• Ageing population

• Perception that “online” is cheaper

• Comparison Culture.

Page 10: Selling Online Slides

There's never been a better time to start selling online!

• Despite the recession, online sales are growing at a rate of 17% each year.

• In Europe, the UK stands as the largest e-retail economy with over 37 million online shoppers, who, on average, spend £1,165 a year online (the highest amount in the world).

Page 11: Selling Online Slides

Things to ConsiderGet informedMake sure e-commerce is right for you

Sales and Marketing

Good Customer Service

Plan

Page 12: Selling Online Slides

• What do you want to sell?• Decide which commerce

solution is best (based on volumes, prices, audiences)

• Start building your catalogue/portfolio

• Secure your domain name• Determine how you’ll get

paid• Spread the word• Monitor Performance

How to sell online….

Page 13: Selling Online Slides

The buyers25-44 year olds are the most active users of eCommerce.

Page 14: Selling Online Slides

Success….Clear demonstration of Creative Industries selling power through online sales.

Fashion is the biggest recent success.

Page 15: Selling Online Slides

The Buying Process

Page 16: Selling Online Slides

What to sell

Revenue Model

Product or service sales

Subscription or rental

Commission based (e.g. affiliate, auction, referral)

Advertising (sponsorship)

Page 17: Selling Online Slides

Yourself

EU / Tenders Electronic Daily

Supplier and Contract Management Systems

J4b grants

Advertising (sponsorship)

Page 18: Selling Online Slides

£14.99 /month

17% of price

Existing,High-traffic

retailers

Ways to sell

Page 19: Selling Online Slides

MarketPlaces

Typical 5%Commission

Ways to sell

Page 20: Selling Online Slides

DIY – Pick your own transaction provider

Ways to sell

Page 21: Selling Online Slides

Ways to sell: Individual Stores

Page 22: Selling Online Slides

Ways to sell: Market Places

Page 23: Selling Online Slides

Shopping Carts – Recap:Take time to make the decision on which solution is best for your business.

Off-the-shelf or made-to-measure?

Marketplace or own web store?

Use technology that already works and is reliable

Make sure features and usability meet your needs

Page 24: Selling Online Slides

Crowdfunding

Page 25: Selling Online Slides

• Reduce times filling in forms (e.g. one-click purchases). No registration.

• Recommendations, Ratings.• Cross-sell.• Use product reviews.• Use promises and guarantees.• Create a “web exclusive” range for deal

focused people.• Use Video• Content is currency! Build user

communities, Google Penguin

Compelling and Easy

Page 26: Selling Online Slides

Store Design considerations• Clear navigation

• Prominent Search• High impact current image• Deep link into site• Commitment to buy / call to action• Avoid too many clicks• Re-enforce trust {images of staff and

premises, customer endorsements}• Imagine objections. Good copy.• Responsive/fast loading pages

Page 27: Selling Online Slides

Product Catalogue• Product detail pages (zoom, stock)• Own, easy URL• Narrative - Advantages, benefits over

other products or competitors.• Accurately described, correctly

categorised {never copy descriptions}• Include reviews and testimonials• Be clear about extra costs like shipping• Gifts & gift-lists

Page 28: Selling Online Slides

Evaluating PerformanceThe conversion rate• The number of people that visit your website

and actually buy something (no. of transactions / unique visitors): typically 1.6% - 3%.

• Cart abandonment rate: typically 75%• Typical session time: 2 minutes.

Page 29: Selling Online Slides

Payments and Pricing• Add up your costs• Products and services• Additional costs

associated with your business

• Building your website• Hosting domain• Employee costs• Shipping• Credit card processing

fees• Costs incurred for

damaged products

• Look at rivals. Do you have a competitive advantage? Froogle.co.uk

• Create “discounting” cushion.

• Consider “loss leaders”• Think about your credit

card or merchant costs!!

• Price versus value. Markup 10%>1000’s%

Page 30: Selling Online Slides

Sales Strategy• Don’t discount things that

people buy regularly• Provide accessories• Email electronic coupons

after sales• Appeal to the price

conscious (easyJet model)• Best overall value – not

necessarily the cheapest (John Lewis model)

• Make sure special offers are really special

• Offer further items at a discount once items have been placed in the cart.

Page 31: Selling Online Slides

Transacting Online“Online payments using cards are 'card-not-present' transactions.

There are higher risks of fraud with this type of payment and banks require you to operate within a well-defined set of rules and

accept a higher level of commercial risk than a conventional swiped card transaction in a shop.”

Method : Depends on volume of sales.

Page 32: Selling Online Slides

Reducing Fraud• Insist on delivery to cardholders address

• Design policies for when fraud is suspected (e.g. phone calls, fax of credit card, ask buyer to recall order, asking for alternative payment method).

• Don’t ship abroad

• Eliminate delivery risk with tracking/signatures

• Make orders an “Offer to buy” in case of pricing mistakes

Page 33: Selling Online Slides

WaysInternet Merchant Account : Direct to your bank account

- Already accept credit card payments- Have high volume of online transactions

Payment Service Provider: Collected on your behalf. £20/m +20p

- Medium volume of online transactions anticipated- You do not currently accept debit or credit cards in store

(Easier to get, less transparent, holding , fraud costs)

Bureau : Very few sales, lowest outlay3.5% + 20p

Page 34: Selling Online Slides

What to look forThink about services offered by your payment service provider. For example,

• 3D Secure (MasterCard SecureCode and Verified by Visa)

• Chargeback fees. Currencies.• Export of data for reconciliation• Shopping cart integration• Payment acceptance (e.g. Amex)• PCI DSS compliance

Electronic-payments.co.uk

Page 35: Selling Online Slides

Low volume sales

Monthly: £1.5k-6k = 2.9% + £0.2. Plus 1% for non-residential sales.

2.9% + 20p per transition. £50 set-up.

2.9% + 20p per transaction. **

Page 36: Selling Online Slides

High volume salesTalk to your bank.

Think about services offered by your payment service provider. For example,

• MasterCard SecureCode and Verified by Visa. Chargeback fees. Currencies.

• Address handling• Export of data for reconciliation• Shopping cart integration• Payment acceptance

Page 37: Selling Online Slides

Regulations1. Consumer Protection (Distance Selling) Regulations• Provide consumers with specific information before they place their order, an order

confirmation and information on their cancellation rights. E.g. provide your VAT no.

2. Electronic Commerce Regulation• Clearly identify commercial communications as such• Outline the steps that need to be taken for a contract to be concluded

3. Sale of goods act• Items as described• Fit for purpose• Returns in ‘reasonable time’

4. Privacy and data protection law

5. Creative Commons

Page 38: Selling Online Slides

Regulations1. Intellectual Property• Issues such as copyright and trade marks should be considered, not

just for items displayed on your site, but also metatags.

2. Creative Commons

3. Security

4. Access agreement• Terms and conditions governing use of your website• Terms set out prior to customer proceeding to purchase.

Page 39: Selling Online Slides

Fulfilling OrdersIt’s all about meeting expectations…

AutomatedOutsourced delivery, tracking

Digital Rights Management for digital downloadsDownloads (3 download policy)

Process line by line

Provide personal touch

Track the status

Communicate the status

Turn around quickly

Consider

packaging

Be realistic about

delivery date

Mange peaks e.g. Christmas

Handle Return

s

Page 40: Selling Online Slides

ChoreseCommerce ritual

1st and last hour every day : Check orders and respond to queries

Monday-Thursday mornings: Prepare product images

Afternoons: Enter details, prices, descriptions, images

Friday: Promote, build links and content

Page 41: Selling Online Slides

OperationsIt’s all about meeting expectations…

•No surprises for the customer•Make allowances for back orders (e.g. part shipment)•Pick a reliable courier•Don’t over-promise•Try to avoid serial returners•Plan returns by product category (cloths = upto 35%)•Always ask for a reason on returns

Page 42: Selling Online Slides

Top Tips• Work Works• Choose the Right Niche• High Production Values• Make Your Site Easy• Be Real• Emphasise Service• Promote Your Site• Lower Your Prices• Change Your Site• Patience

Page 43: Selling Online Slides

Top Tips - Selling

1. Give plenty of detail2. Show related items3. Display stock levels4. Top sellers5. Offer more for more money6. Use deals (seasonal?)7. Encourage repeat visits8. First purchase discounting

Page 44: Selling Online Slides

Many thanks for your time and contributions!

Page 45: Selling Online Slides

Sign up/Register: www.digitallincs.com

Tim:@timmy666 / [email protected]

Fraser:@frazzy123 / [email protected]


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