HOW TO BOOST YOUR SALES & BECOME A SUCCESSFUL SELLER

Transcription

1 HOW TO BOOST YOUR SALES & BECOME A SUCCESSFUL SELLER

2 Agenda Understand the customer journey How to increase your product visibility Other marketing channels Case Study Seller support Questions

3 Understand the customer journey

4 Understand the customer journey Customer Point of View Product Search Product Comparison Make a purchase Product search Product Comparison Make a purchase Key metrics 1. Searchability 2. Views 3. Conversion Factors to improve performance Naming & categorization Good images & promo Detailed product Assortment Competitive bundles pricing description Competitive pricing Stock availability Seller rating

5 Searchability - How can I make sure the customer finds my product? Customers search for products using search bar

6 Searchability - How can I make sure the customer finds my product? Customers search for products by category

7 Searchability - Select the right category 1. Searchability 2. Views 3. Conversion Naming and categorization Why? Easier for customers to find your product when doing a search Product in the right categories turn up when filtered How? Ensure you create your products: in the right category with the right attributes with the right title and key words

8 Searchability - Right Attributes 1. Searchability 2. Views 3. Conversion Naming and categorization Why? Easier for customers to find your product when doing a search Product in the right categories turn up when filtered How? Ensure you create your products: in the right category with the right attributes with the right title and key words

9 Searchability - Clear product name 1. Searchability 2. Views 3. Conversion Naming and categorization Why? Easier for customers to find your product when doing a search Product in the right categories turn up when filtered How? Ensure you create your products: in the right category with the right attributes with the right title and key words Brand + Product + Model Apple iphone 6 16GB iphone 6 Laptop Dell Inspiron i bk 15.6inch Dell Laptop TV LED Hisense 40inch Full HD - Model 40D1000 Samsung 220L 2 Door Deodorizer Fridge Watches Invicta Men stainless steel wire Barbie fashion dolls

10 How to create an impression How do I convince a customer to click on my product?

11 How to create an impression How do I convince a customer to click on my product? Image Naming Price

12 Views - Provide attractive/reasonable discounts 1. Searchability 2. Views 3. Conversion Competitive pricing Why? Customers always search and compare prices before making a purchase How? Compare your price with your competitors (don t forget to check prices in physical stores as well as online) Give attractive discounts on recommended retail prices RM % Unrealistic discount RM 2, No discount

13 Views - Compare your prices with other competitors 1. Searchability 2. Views 3. Conversion Competitive pricing Why? Customers always search and compare prices before making a purchase When I shop online, I always compare to buy at the lowest price How? Compare your price with your competitors (don t forget to check prices in physical stores as well as online) Give attractive discounts on recommended retail prices

14 Conversion Unbeatable price 1. Searchability 2. Views 3. Conversion Competitive prices Competitive pricing Why? For two identical products, pricing plays an important role in a customers decision to purchase How? Compare your price with your competitors On Lazada Online (other than Lazada) Offline (physical stores) Know how the multisourcing feature works

15 Conversion Unbeatable price Stand out among competitors Optimize Pricing Sellers who master Pricing will be able to make profits from their sales by standing out among competitors

16 Conversion Unbeatable price A smart pricing takes into account the price customers are willing to pay Based on Cost Based on Competition HOW to balance the cost on Lazada (Commission, Payment fee, Shipping fee) Balance the cost HOW to have the most competitive price Lowest Competition Price Make sure you take into account all the costs Make sure your price is attractive to customers

17 Conversion Unbeatable price How should I price my products on Lazada? My Offline Price RM 350 Lazada Lowest Price RM 325 My Price on Lazada???

18 Conversion Unbeatable price Price setting example Offline Lazada Overpriced Competitive Price Underpriced Price Product Costs Other Costs Profit Items Sold Revenue No Sales due to high price -> zero revenue Attractive & profitable price, high # items sold -> high revenue Very low price, high # items sold but not profitable negative revenue 18

19 New Seller center pricing feature It s now easy to check if your product is the cheapest in the market! Hover cursor over this icon for pop-up box to appear Click on hyperlink to access competitor s product page Advantages: 1. Get an overview of competitor prices for all products for which Lazada pricing team has the competitiveness data (top selling products) 2. Sellers can filter to see all uncompetitive SKUs in order to take action 3. Simple click to match competitor prices or provide reject reasons (e.g. incorrect links, competitor blow-out, low margins)

20 Conversion multiple product views 1. Searchability 2. Views 3. Conversion Detailed product description & good images Why? The more information customers have, the more confident they will feel about purchasing your product How? Provide 360 o view of your product. The more images uploaded, the better Include as much information on your product as possible Pro tip: When uploading products, avoid leaving out recommended fields just because it s not mandatory

21 Conversion Detailed description with graphics 1. Searchability 2. Views 3. Conversion Detailed product description & good images Why? The more information customers have, the more confident they will feel about purchasing your product How? Provide 360 o view of your product. The more images uploaded, the better Include as much information on your product as possible Pro tip: When uploading products, avoid leaving out recommended fields just because it s not mandatory

22 Conversion Keep your eye on your stock 1. Searchability 2. Views 3. Conversion Stock availability Why? Customers can t buy from you if your product is out of stock Sufficient stock levels will increase your chances of making a sale How? Keep track of stock levels especially for popular/top selling products

23 Conversion Seller Rating 1. Searchability 2. Views 3. Conversion Your seller rating Why? A good seller rating will increase the likelihood of customers buying products from you instead of another seller Performance report is sent to Sellers via on a weekly basis Seller Rating will be converted into number of stars on Lazada.com.my Customers trust high performing sellers with a high number of stars! Low seller rating leads to losing trust and decreasing sales potential How? Check your Weekly performance report sent by Lazada Understand what affects your seller rating Always work on improving these KPIs Leadtime Cancellati on Rate Return Rate Complaint s Rate

24 How to increase your products visibility

25 Join our promotional campaigns Benefits to join LAZADA campaigns Marketing push through Newsletters, Facebook, Twitter and other social media increases brand visibility On an average 5+ million visits per day during campaigns which means more exposure for your products Increased orders which results in increased revenue as compared to a non-campaign day

26 Join our promotional campaigns Countdown to end of Registration Period

27 Sales Orders Join our promotional campaigns 3 day campaign period Sellers generated 3x more orders during a campaign as compared to a non-campaign period 3 day campaign period Sellers generate 2.5x more revenue during a campaign as compared to a non-campaign period

28 Campaign calendar 2016 Campaign name Chinese New Year Sale Birthday Sale Big App Sale Mega Ramadhan Campaign Big Baby Fair Unity Sale MY Cybersale Halloween Sale Online Revolution / Christmas Shopping Date 26 th Jan 8 th Feb 15 th Mar 18 th Mar 7 th April 11 April 2 nd June 27 th June 27 th July 31 st July 25 th Aug 31 st Aug 26 th Sep 28 th Sep 26 th Oct 31 st Oct 11 th Nov 12 th Dec 28 th Nov 31 st Dec

29 Increase visibility More Assortment Assortment Quantity Why? Increased chances of meeting a larger pool of customers needs Offer luxury of comparison Higher exposure and traffic How? Increase the size of your assortment Sell items from various categories Sell variety of models/product variation within the same category Create attractive offers (giveaway, combos and product set) Check assortment at top of page, these are the fast moving ones Higher assortment results in higher sales and customer credibility

30 % of Sales Importance of assortment Assortment is the key to making sure customers find what they are looking for April More assortment = higher sales potential true across all categories 2. Allows you to discover new market trends higher chance of customers finding what they are looking for 3. If you have less than 30 SKUs today, you re missing out! 4. If you have more than 30 SKUs, then continue adding with pricing!

31 Increase visibility Sell items from various category Shop by category Why? Increased chances of meeting a larger pool of customers needs Offer luxury of comparison Higher exposure and traffic How? Increase the size of your assortment Sell items from various categories Sell variety of models/product variation within the same category Create attractive offers (giveaway, combos and product set) Check assortment at top of page, these are the fast moving ones

32 Increase visibility Variety models/colors Variety models/colors Why? Increased chances of meeting a larger pool of customers needs Offer luxury of comparison Higher exposure and traffic How? Increase the size of your assortment Sell items from various categories Sell variety of models/product variation within the same category Create attractive offers (giveaway, combos and product set) Check assortment at top of page, these are the fast moving ones Example: Different sizes of a same model

33 Increase visibility Attractive offers (Bundles) Attractive offers Why? Increased chances of meeting a larger pool of customers needs Offer luxury of comparison Higher exposure and traffic Giveaways Combo Product Set How? Increase the size of your assortment Sell items from various categories Sell variety of models/product variation within the same category Create attractive offers (giveaway, combos and product set) Check assortment at top of page, these are the fast moving ones

34 Other marketing channels

35 Increase your visibility Examples

36 Increase visibility Link your website to your Lazada shop 2. Drive traffic to your Lazada shop 1. Increase awareness of online shopping 3. Leverage alternative payment systems, such as Cash on Delivery, Visa, MasterCard, Online banking, ipay88, PayPal and more!

37 Increase visibility Link your website to your Lazada shop

38 Case study

39 Case study at Lazada Current OVL is 30/day RM20,000 in 60 days Attended OB training (only 40%) Uploaded 5 SKUs Seller rating boosted to (Diamond rate) > 3.5/4 Seller went Live Uploaded 200 SKUs Received 4 orders RM100 in 50 days Lazada team contacted the merchant Registered him for all trainings

40 Case study at Lazada Before After OB Training 40% All Trainings Sku s uploaded Orders received Revenue RM 100(50days) RM 20,000(60days) Seller Rating < 2.5/4 > 3.5/4

41 Seller support

42 Seller support Seller Center homepage dashboard, gives you a quick summary of your total pending orders & stock status

43 Seller support

44 Summary Content Follow naming convention Competitive pricing Unique product description Good quality images Operational efficiency Ready stock Ready to ship within 24hrs Timely delivery of genuine products Increase visibility More assortment, variations & offers Participate in campaigns Link your website/fb page to your Lazada shop Promote your products/shop through social media