Back on the show today is Steve Chou from MyWifeQuitHerJob.com.
In the last episode with Steve, we explored his story of going from the corporate world to the eCommerce world, and how to get started on Amazon. In this episode, we discuss transitioning from having an Amazon store to your own eCommerce site. This information is most relevant for sellers who have been on Amazon a while. Thatâs the time to create your own eCommerce store. It will take some time to get going and itâs a long-term investment.
Create Your Own eCommerce Site and Build Consumer Trust
The way you structure your site is like a long-form sales page. You have your value proposition at the top, all the testimonials and the good things about your product, and an âAdd to Cartâ button at the end. You can use software like ClickFunnels, which makes it easy to sell individual products online.
If you want to create your own e-commerce store, the key is making sure the consumer trusts you like they already trust Amazon. There are multiple ways to do this. Testimonials, trust seals and satisfaction guaranteed offers, as well as high-quality images, will go a long way. Steveâs whole site is set up like this if you want an example. Check out bumblebeelinens.com.
You also have to replicate a lot of what Amazon does already. Such as free shipping, no-hassle returns, a phone number, and contact information.
Common Mistakes when You Create Your Own eCommerce Store
A common mistake people make is thinking, âWhy bother even thinking about my site when the Amazon revenue keeps growing?â Then a year passes and they donât do their site. But then something goes bad with Amazon, and not only will they lose revenue but theyâve lost a yearâs worth of customer-building on their own site.
The most common mistake is not having systems in place to bring the customer back over and over until theyâre ready to buy. Be aware that the average conversion rate on eCommerce store is 1 - 2 %, which means 98% of people arenât buying. If they leave, and you donât have a way to bring them back, theyâre gone for life.
With Amazon, you only worry about getting the listing up, optimizing the listing and maybe advertising. When you create your own eCommerce store, you have to have all the links in the chain ready to go in order for it to work. E.g. email marketing, retargeting, Facebook and Google, push notifications, and everything designed to bring people back to your site.
Amazon versus eCommerce
The main difference between Amazon and having your own site is that with Amazon there is a big audience. However, itâs mostly one-off customers. With your own site, you have the opportunity for repeat customers. In fact, this is where you make the majority of the money, by bringing your existing customers back to your site. Thereâs no real brand loyalty on Amazon. Your own site is designed to bring repeat customers back and establish a brand, which you cannot do on Amazon.
If you have chosen products that fit under the same umbrella then you can create an overall brand that encompasses all of those products. There must be unity within the brand in the long run. The idea is to treat Amazon like cash flow. The customers there arenât loyal but there is a huge audience and money to be made. Itâs not long term consistent money. Amazon isnât long term. When they change things like FBA fees and feedback processes, and rankings, that impacts revenue. The only way to maintain consistent revenue is to find other ways to generate income on your own, hence building the brand. Repeat customers who feel loyal to your brand are low effort customers.
The Long-Term View
Driving traffic is what you need to be focusing on when you create your own ecommerce store. Amazonâs marketplace drives all the traffic if youâre an Amazon seller, but on your own site, the two primary channels are Google Shopping and Facebook Ads. Google SEO is another one but itâs long-term, not short-term.
In the last episode with Steve, we explored his story of going from the corporate world to the eCommerce world, and how to get started on Amazon. In this episode, we discuss transitioning from having an Amazon store to your own eCommerce site. This information is most relevant for sellers who have been on Amazon a while. Thatâs the time to create your own eCommerce store. It will take some time to get going and itâs a long-term investment.
Create Your Own eCommerce Site and Build Consumer Trust
The way you structure your site is like a long-form sales page. You have your value proposition at the top, all the testimonials and the good things about your product, and an âAdd to Cartâ button at the end. You can use software like ClickFunnels, which makes it easy to sell individual products online.
If you want to create your own e-commerce store, the key is making sure the consumer trusts you like they already trust Amazon. There are multiple ways to do this. Testimonials, trust seals and satisfaction guaranteed offers, as well as high-quality images, will go a long way. Steveâs whole site is set up like this if you want an example. Check out bumblebeelinens.com.
You also have to replicate a lot of what Amazon does already. Such as free shipping, no-hassle returns, a phone number, and contact information.
Common Mistakes when You Create Your Own eCommerce Store
A common mistake people make is thinking, âWhy bother even thinking about my site when the Amazon revenue keeps growing?â Then a year passes and they donât do their site. But then something goes bad with Amazon, and not only will they lose revenue but theyâve lost a yearâs worth of customer-building on their own site.
The most common mistake is not having systems in place to bring the customer back over and over until theyâre ready to buy. Be aware that the average conversion rate on eCommerce store is 1 - 2 %, which means 98% of people arenât buying. If they leave, and you donât have a way to bring them back, theyâre gone for life.
With Amazon, you only worry about getting the listing up, optimizing the listing and maybe advertising. When you create your own eCommerce store, you have to have all the links in the chain ready to go in order for it to work. E.g. email marketing, retargeting, Facebook and Google, push notifications, and everything designed to bring people back to your site.
Amazon versus eCommerce
The main difference between Amazon and having your own site is that with Amazon there is a big audience. However, itâs mostly one-off customers. With your own site, you have the opportunity for repeat customers. In fact, this is where you make the majority of the money, by bringing your existing customers back to your site. Thereâs no real brand loyalty on Amazon. Your own site is designed to bring repeat customers back and establish a brand, which you cannot do on Amazon.
If you have chosen products that fit under the same umbrella then you can create an overall brand that encompasses all of those products. There must be unity within the brand in the long run. The idea is to treat Amazon like cash flow. The customers there arenât loyal but there is a huge audience and money to be made. Itâs not long term consistent money. Amazon isnât long term. When they change things like FBA fees and feedback processes, and rankings, that impacts revenue. The only way to maintain consistent revenue is to find other ways to generate income on your own, hence building the brand. Repeat customers who feel loyal to your brand are low effort customers.
The Long-Term View
Driving traffic is what you need to be focusing on when you create your own ecommerce store. Amazonâs marketplace drives all the traffic if youâre an Amazon seller, but on your own site, the two primary channels are Google Shopping and Facebook Ads. Google SEO is another one but itâs long-term, not short-term.
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