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Multiple channels = more sales. But it's not foolproof. Make multi-channel selling easy with these revenue-boosting tips.
Amazon is getting REALLY competitive these days. Unless you're ready to splash some $$$, you won't even get to the first 3 pages. Not to mention the Amazon Basics issue. If your product has an Amazon Basics equivalent to it, best of luck to you.
Yeah, a lot of our clients are saying the same thing. Basically, they're becoming an advertising platform more than a marketplace, which is why I recommend spreading the eggs a bit. Use Amazon as a testing platform. I'm actually in the middle of writing how to survive the Amazon "jungle" ;)
Nice write-up, Ed! One thing I'd recommend/add is to automate the tax calculation. Tax season can get complicated if you don't pull and calculate data automatically from each channel.
Thanks, Frida. Totally agree! Now, I'm in AUS, so I'm not exactly sure how USA's tax work, but from I can recall, each state has different regulations, yes? I feel bad for the account department :p
Amazon can be a pain in the butt. Especially if your margin isn't that high. They're charging you anywhere between 6-20% commission on the gross amount of your sale; depending on the category. So yeah, definitely go with niche-marketplaces if you can.
Yeah, as I've mentioned above, spread your eggs across different baskets. Don't rely solely on Amazon. Did you happen to know the categories that have high commission %?
Great post, Ed. Quick question, what are your thoughts on 'decentralized' marketplaces, like OpenBazaar?
Hmmmm, never have any experience on OpenBazaar. Looks interesting, though. Will have a look and update you on it. Did you have any experience on 'decentralized' marketplaces?
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