ecommerce Product Strategy

Transcription

1 Video Tutorial ecommerce Product Strategy Chinaimportal.com Asiaimportal (HK) Limited, Suite , 24/F Bonham Strand Trade Centre, 135 Bonham Strand East, Sheung Wan, Hong Kong

2 Product + Brand + Pricing + Marketing 1. Select a product and brand name 2. Make your product unique 3. Find your price point 4. Select sales and marketing channel (e.g. Amazon.com, Shopify)

3 What product should I sell? Rule 1: Think brand, not product Rule 2: Sell products you are interested in Rule 3: Competition indicates that there s money to be made Rule 4: There are no best seller products Rule 5: Most ecommerce Entrepreneurs give up after a few months. 50% of success is staying in the game long enough. Rule 6: Make a 5-year plan Rule 7: Just get started

4 Why you should only focus on one product category Monobrand + Lower MOQ / Investment: $5,000 - $10,000 + You can focus your PPC marketing campaigns on a single product category + Lower procurement overheads (quality checks, lab testing and shipping) + Can easily be managed as a side project + All successful ecommerce startups today are monobrands Multiple Products - Very high startup cost / MOQ requirement: $70,000+ (10 Products) - Required to run multiple PPC campaigns on Instagram and Facebook - High quality control and lab testing costs (multiplied per product / factory) - Extremely time consuming + You can sell your brand 5 years from now

5 Product Pricing Strategy Costs Description Example (Per unit) Factory Price This is what you pay for the product $20.0 Procurement Services Quality control, lab testing etc $2.0 Shipping Costs Cost to ship from Asia to your address $1.2 Import Taxes Duties and other taxes in your country $1.0 Marketing How much you must pay Facebook, Youtube or Amazon to make a sale $40.0 (!!!) Target Profit Margin: 30-50% The product in this example should be sold for at least $100 to $130 Rule: Never try to compete on price with larger companies

6 Sales Channels & Marketing Channel Pros & Cons Marketing Options Amazon Shopify / WooCommerce / Magento + Get exposure to a large audience + High sales conversion rates - Very strict seller requirements (you can get your account suspended) - Very strict seller requirements + You own the store - You are responsible for driving traffic to your online store (no free exposure) Amazon PPC Facebook Ads, Youtube Ads, Instagram Ads, SEO, Influencers

7 Brand & Design Protection 1. Brand & Logo: Trademark Registration 2. Product Design / Graphical Patterns: Design Protection 3. Non-Disclosure Agreements 4. How worried should I be about my supplier using my design?

8 How to make your product stand out 5 concepts that anyone can use

9 Examples Waxed cotton watch straps Classic artwork printed on textile wallets Photo etchings on aluminum phone cases Chinese art puzzles Rembrandt card game collection 1. Use public domain artwork and photographs

10 Examples Sacramento Watches Tower Hamlets Hoodies Kreuzberg Caps Singapore Coffee Cups Brooklyn Wine Glasses 2. Hyper localized products

11 Examples Fathers day gift sets: Watch + Tie + Wallet Coffee gift sets: Italian coffee press + 2 x cups + Illustrated booklet Bonsai garden starter kit Organic cotton children s clothing sets 3. Bundles and gift sets

12 Examples Alcantara watch straps Italian leather watch straps Pinatex wallets Organic cotton bedding sets 4. Use premium materials

13 Examples Baby clothing subscription Low carb noodles subscription Packaging materials subscription Socks and underwear subscription 5. Product subscriptions

14 Product + Brand + Pricing + Marketing 1. Select a product and brand name 2. Make your product unique 3. Find your price point 4. Select sales and marketing channel (e.g. Amazon.com, Shopify)

15 Download the presentation slides for free