Unable to make it to this year’s ecomChicago reselling conference? Never fear! Courtney headed out to the Windy City for two days of talks with some of reselling’s biggest players. Read on to see what she learned for some of her favorite speakers.
Start Small, Scale Big
Ryan Grant – What I’ve Learned Scaling My Business to Six Figures
If you’re looking to scale, reinvest 100% in your business. It may mean sacrificing a few coffees for now, but putting your revenue right back into your business can lead to exponential growth.
- If you’re looking to scale, reinvest 100% in your business. It may mean sacrificing a few coffees for now, but putting your revenue right back into your business can lead to exponential growth.
- Put systems in place and outsource what you can. Increase efficiency by creating processes for each step of your business. As soon as you’ve perfected one of these systems, try outsourcing it to someone else. It may be nerve-wracking to trust another person, but it frees up valuable time for you to work on more lucrative aspects of your business.
Balance Your Ad Budget
Bret Darby – Ad Strategies that Work in Q4 (and Beyond)
Bret, an Amazon FBA guru, spoke about the value of using advertising to make the most of Q4 holiday sales.
- Divide your ad budget based on your catalog. Focus 70-80% of your budget on your top 20% of items; the high-demand inventory that you KNOW will sell. Then, put 20-30% of your budget in the middle 60% of your items, and cut ads for your bottom 20% of inventory. Revisit ad performance and revenue regularly and adjust your budget as needed.
- Turn down your budget and bids so they’re “simmering” by December 21. Don’t burn your budget when you don’t have to. By December 21, most shoppers have made their holiday purchases, so pull back on ad spend and reinvest in other parts of your business.
When It Comes to Listings, the More Detail, the Better
Brian Burke – eBay: What’s New
As eBay’s Director of Community Development, Brian discussed tips and tricks to making the most of this legacy online marketplace.
- Max out your Item Specifics. Item Specifics are the details eBay uses when pulling search results. The more information you give, the more opportunity for your listings to appear in multiple search results, as well as stay relevant in filtered searches involving item size, color, brand and other factors.
- Just because you’re promoting a listing, doesn’t mean it’ll show up. Even Promoted Listings need comprehensive Item Specifics in order to appear in relevant searches.
Opportunity is Everywhere – You Just Have to Look
John Lawson – Social Trafficking, Strategies to Accelerate eCom Sales
Rising from bankruptcy to become a successful business owner, serial entrepreneur John Lawson shared his tips for identifying opportunities to increase eCommerce sales.
- Use your wisdom. If you have a few years of selling under your belt, use the experience to identify trends throughout the year. If something sells out in September, chances are good it’ll sell out again in December, so analyze your sales history and plan your sourcing accordingly.
Create Your Own Traffic
Matt & Cindi Zlotow – Instagram Optimization
Don’t rely on search results alone for customers to find you – meet them where they are! Matt and Cindi discussed how creating an engaging Instagram account can encourage customers to buy.
- Your pictures don’t NEED to be pretty – they need to connect with your audience. Targeting moms? Share a text-based photo that describes a funny mom moment. Trying to reach football fans? Post a sports-based image on Sunday morning before the games. The more your audience can connect with your content, the more they’ll connect with your brand.
- Make it a two-way conversation. If you receive comments on posts or direct messages, take time to write a personalized response. When your audience feels heard, they’re more likely to keep returning to your profile for more.