I took an eCommerce business from zero to $4.5m in annual sales. Selling on eBay, Amazon and webstores.
Won eBay awards for the highest conversion rates.
I share everything I've learned from our journey on a weekly blog -
We were in the same situation (not possible to offer competitive prices), managed to get an edge over the competition by putting all of our focus on one competitive advantage. I wrote a post about what we did -
Hope this helps!
Hi, I've driven an eCommerce business to $4.5 million in annual sales.
There are 2 approaches to promoting your Webstore:
1. Paid - Instant traffic, must keep ROI positive, low "long lasting" effect.
2. Free - Building a long lasting brand and authority in your space, takes at least 3 months to see substantial results.
The correct approach is balancing between the two.
Your final goal is to drive highly relevant organic traffic, while constantly improving your conversion rates by doing A/B tests.
Hi, I've driven an Amazon / eBay business to $4.5 million in annual sales. The short answer is - "No, it's not easy", if it was, everybody would be doing 6 digits revenues on Amazon.
Here is an example for one of the obstacles:
It's important to understand that there is a glass ceiling to what you can do on Amazon (selling someone else's brands), if your'e doing well, Amazon will quickly notice you and start stocking and selling the product line themselves. They control all the verticals: Logistics, payments, SEO and have a tremendous buying power.
One of the possible ways to overcome the above is to create and market your own brand (OEM manufacturing being one of the possibilities), in this scenario - if your'e doing well enough, Amazon will actually approach you to purchase your products in bulk.