Entrepreneurs and business owners, listen up! If you’re determined to build a thriving online business on major eCommerce platforms such as Amazon and Walmart, we have some fantastic news. The highly informative and engaging podcast – “Selling on Giants: The eCommerce Marketplace Show” – has arrived! Show that it is dedicated to bringing valuable insights, winning strategies, and top-notch best practices to ace the competitive eCommerce game. So, tune in and get ready to learn, grow, and succeed in the ever-evolving eCommerce space.
The “Selling on Giants” podcast was created to be a helpful resource for anyone seeking to establish a prosperous online business on major eCommerce platforms. Navigating the eCommerce world can be overwhelming as there are many factors to consider, including product sourcing, advertising, and customer service. That’s where “Selling on Giants” steps in – to provide the guidance and resources needed to thrive in this exciting industry. The ultimate goal is to educate and empower the listeners to succeed in eCommerce easily. The SOG episodes feature interviews with experts, successful sellers, and thought leaders who offer valuable tips and insights that can take your eCommerce game to the next level. Conversations that bring value on different topics, such as, product sourcing and inventory management to pricing and advertising.
But don’t just take our word for it – check out the first episode and see for yourself!
In the first episode, the guest speaker is our own Will Haire, BellaVix cofounder tackling the exciting topic “Mastering eCommerce Marketplace Management: Tips for handling multiple sellers and Maintaining Product Page Quality”.
This episode is filled with insider information and practical tips to help you manage multiple sellers and maintain top-notch product pages in a competitive eCommerce marketplace. Join the dynamic Victor and Will as they dive into the details of effective strategies and best practices for eCommerce brands that manage multiple marketplaces. You’ll learn how to expertly enforce MAP policies, ensuring fair pricing and preventing unauthorized sellers from undercutting your prices. Plus, discover the secrets to winning the highly coveted Buy Box and watch your sales soar!
Subscribe now and join Victor Dwyer and his esteemed guests as they explore the exciting world of eCommerce marketplace management. Get ready to boost your online sales and take your business to new heights. Don’t hesitate – the next big thing in eCommerce is just a click away!
Key takeaways: / Short Summary:
Catalog Management Best Practices
•Specify roles and authorization flows for database modification to understand who can do what and what effects are changing.
•Map the catalog management process to see which stakeholders are involved and affected by catalog changes.
•Tag and categorize digital product catalogs consistently to avoid confusion and make it easy for customers to find what they need.
•Provide comprehensive, up-to-date product information with high-quality visuals to build trust and ensure quality.
•Consider a catalog management tool that integrates your PIM, ERP, and e-commerce systems, depending on the size and complexity of your business.
•Understand the differences between Amazon and Walmart when it comes to changing content.
Amazon and Walmart: Differences in Content Changes
•Walmart’s system for updating content is more difficult and requires going through customer support, whereas Amazon has bulk file updates and efficient customer support.
•It is recommended to use an integrated system that pulls information directly from the website for Walmart.
•Amazon’s system is more organized and efficient, which is why 50% of e-commerce occurs on their site.
•For large catalogs, it is recommended to optimize the top-performing SKUs for SEO using bulk file uploads.
•Walmart is still worth it for vendors with products inside the store, but third-party sellers may face disadvantages due to Walmart’s emphasis on in-store buying.
Managing Customer Support and Resellers on E-commerce Marketplaces
•Walmart, being the third-largest US company, is investing in infrastructure and nipping at Amazon’s heels. Listing products on Walmart early on may not be profitable, but useful for experience.
•Streamlining customer support workflow and integrating all platforms is possible with solutions like Zendesk, allowing use of internal or offshore labor to answer customer queries promptly.
•Having brand guidelines and readily available information such as product safety, size, and FAQs will save time and be useful for customers and resellers.
•Brands outsourcing to wholesalers and resellers may bring financial benefits, but it can also result in headaches such as constant contributions. Taking over a listing and increasing sales require careful consideration and planning.
Strategies for Dealing with Resellers on Amazon
•Having a map policy is crucial before entering the online marketplace, which outlines do’s and don’ts and the repercussions for violating policies.
•Minimum advertised price (MAP) policies are legally enforceable, compared to manufacturer’s suggested retail price (MSRP).
•Brand owners who wish to gain market share can let existing resellers sell out and then take over the listing.
•To avoid negative vendor relationships, brand owners should keep resellers informed about inventory and their plans to take over listings.
•Using multiplex to format products or creating different SKUs can be options for securing listings without affecting vendor relationships.
Importance of Multi-Packs and Negative Effects of Unauthorized Sellers on Brand Reputation
•Using multi-packs can work depending on the warehousing situation and product catalog. Trial packs and multi-packs always work, especially in the grocery category. Customers want a variety of flavors in multi-packs.
•Adding subscription options and selling individual flavors later can increase lifetime value. Highly recommend using multi-packs in the grocery category.
•Emulate the behavior of top sellers in your category and look at the competitive landscape. Use tools like Helium Ten to figure out which products are moving, and find your unique selling proposition.
•Unauthorized sellers can damage a company’s reputation and sales, especially if a Minimum Advertised Price (MAP) policy is not enforced. Customers expect a certain quality and brand experience that unauthorized sellers cannot provide.
•Unauthorized sellers may affect product reviews as customers could leave negative feedback on the product. It’s difficult to remove those. Hesitate to rely on unauthorized sellers who may not adhere to the brand.
Impact of Poor Customer Service and Counterfeit Products on Amazon Sales
•Poor customer service affects product ranking, SEO, BSR, and advertising potential.
•The risk of counterfeit products hurts brand image and can be dangerous for consumers.
•Creating an image warning buyers about counterfeit products helps enforce brand protection.
•Price erosion becomes a problem when counterfeiters start lowering prices and don’t respect Map policy.
•Listing contribution issues arise when brand owners can’t update product attributes and need to monitor changes with software like Helium Ten or analytics.
•Reselling agreements and brand rights can complicate issues if not handled properly.
Tips for Managing Resellers on E-commerce Marketplaces
•When licensing a reseller to manage your brand on e-commerce marketplaces, make sure not to give them ownership of your trademark. This could lead to difficulties when trying to remove them from the listings or fixing any issues, especially if they are uncooperative.
•Use analytics software and set up email alerts to keep track of changes in your catalog. This will help you identify any unauthorized sellers and counterfeit products. If you suspect a product is not genuine, get it delivered, verify it, take photographs, and use Amazon’s Registry brand services to have it removed.
•Be cautious when reporting a product as counterfeit to Amazon, as it could lead to your account being suspended if it turns out the product is legitimate.
•To enforce MAP policies and prevent unauthorized sellers from undercutting your prices, consider implementing a minimum advertised price policy, enforcing distribution agreements, and using pricing monitoring software.
Strategies for Effective MAP Pricing Enforcement and Buy Box Management
•Monitoring online marketplaces is crucial for effective MAP pricing enforcement, particularly for brick and mortar retail outlets plagued by retail arbitrage.
•Restricting other retailers and distributors is necessary to prevent the violation of minimum advertised pricing, and agreements should outline where a product can be sold.
•Enforcing MAP pricing policies involves outlining the steps to be taken in case of violations and issuing warnings, cease and desist letters or ending partnerships after multiple violations.
•Seeking professional services like IP Secure for buy box enforcement and enforcing MAP policy is recommended to update policies, sign in current distribution networks, and ensure compliance is enforced for the fourth time.
•Amazon’s fair pricing policy of requiring the lowest price or a price match on their platform to maintain the buy box impacts sales and contributions of multiple sellers.
The Importance of the Buy Box for Amazon Sellers
•Losing the buy box can disrupt a seller’s BSR, advertising campaigns, and SEO. This leads to a decrease in overall sales, inaccurate data tracking, and reduced efficiency in all areas.
•It can also affect the quality of the listing and user experience, leading to a dip in conversion rates. It is important for sellers to be aware of any changes in their titles and bullets that may affect their listing and user experience.
•Amazon’s algorithm considers factors such as competitive pricing, shipping speed, and seller ranking when determining who wins the buy box. Price is not the only factor that matters.
Ways to tune in:
Links:
- LinkedIn – Personal: https://www.linkedin.com/in/willhaire/
- Branded – Linkedin: https://www.linkedin.com/company/bellavix/
“Selling on Giants: The eCommerce Marketplace Show” is sponsored by BellaVix. To learn more, head over to https://sellingongiants.com/
Don’t miss out on the next “Selling on Giants: The eCommerce Marketplace Show” episode, and subscribe.