Ce diaporama a bien été signalé.
Le téléchargement de votre SlideShare est en cours. ×

C2C platforms research conducted by Nguyen Hong Pham-Reebonz research

Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Publicité
Chargement dans…3
×

Consultez-les par la suite

1 sur 120 Publicité

C2C platforms research conducted by Nguyen Hong Pham-Reebonz research

Télécharger pour lire hors ligne

This is the research I conducted on such popular C2C platforms as Amazon, Airbnb, Uber, Tinder, Snapchat, Whatsapp, Yelp and so on to find new strategies and business growth hacks for Reebonz platforms - WhiteGlove & Closets

This is the research I conducted on such popular C2C platforms as Amazon, Airbnb, Uber, Tinder, Snapchat, Whatsapp, Yelp and so on to find new strategies and business growth hacks for Reebonz platforms - WhiteGlove & Closets

Publicité
Publicité

Plus De Contenu Connexe

Diaporamas pour vous (20)

Similaire à C2C platforms research conducted by Nguyen Hong Pham-Reebonz research (20)

Publicité

C2C platforms research conducted by Nguyen Hong Pham-Reebonz research

  1. 1. C2C PLATFORMS RESEARCH NGUYEN HONG PHAM
  2. 2. All Consumer Goods 1. Amazon 2. AirBnB 3. Uber 4. Tinder 5. Snapchat 6. Whatsapp 7. Yelp 8. Linkedin Reasons to choose these platforms for research ● Most innovative platforms, with very large community. Marketing strategies of these companies that I put in this PPT are highly selective, so Closets can adopt from them ● Most are start-up at the very beginning ● Successfully solve the problem of liquidity among buyers & sellers. ● Some platforms, like Snapchat & WhatSaap not really focus on all consumer goods, but I still choose because the way they build their community is very fast & excellent.
  3. 3. All Consumer Goods Mobile platform only - Tinder - Uber - Snapchat - Whatsapp The outlay of each platform will be as followed 1. Business Model 2. Marketing Strategies In Marketing Strategies part, I try to highlight how these platform increase liquidity among sellers & buyers & how to attract first users.
  4. 4. TINDER Business Model - Tinder is a location-based mobile dating application that matches prospective partners with one another - By January 2014, the app boasted more than 10 million users. - By December of 2014, the app had been downloaded more than 40 million times with users swiping 1 billion times per day.
  5. 5. TINDER Marketing Strategies Building Supply & Word of Mouth - In Tinder, the “supply” of women on a platform is what triggers the participation of men. It’s the same principle behind “Ladies’ Night” promotions at clubs & bars. - Tinder knew this and supply-hacked the dating app with women first, focusing on sorority girls as the early adopters. - As more women joined the platform, men were eager to download it and see
  6. 6. TINDER Marketing Strategies Face-to-face Presentation to spread WOM - Tinder sent CMO all America to do her presentation, and have all the girls at the meetings install the app. - Then she’d go to the corresponding brother fraternity—they’d open the app and see all these cute girls they knew. ❖ RESULT: ➢ After the trip, Tinder had grown from fewer than 5,000 to almost 15,000
  7. 7. TINDER Marketing Strategies Events & Parties Sponsorship - Tinder sponsored a lot of school events & parties, in which participants had to show they already installed Tinder apps on their phone to join these events
  8. 8. TINDER Marketing Strategies The User Experience - A dating site without potential matches isn’t very useful. - The experience of reviewing matches by swiping left to dismiss a match and right to confirm a match is satisfying and feels intuitive on a mobile device.
  9. 9. TINDER Marketing Strategies Gamification of Dating and Variable Rewards - Variable rewards is a powerful psychological concept used in gambling - Because it is impossible to see who is next, the urge to swipe is powerful. What if that next card is your perfect match? - People keep swiping to see if they'll hit the match “jackpot” on the next swipe.
  10. 10. TINDER Marketing Strategies Monetization ❖ In-app purchases, such as offering Facebook-style gifts like a dozen virtual roses ❖ TinderPlus ➢ Rewind to the previous person you swiped left on. ➢ Passport which lets users look for matches anywhere in the world, instead of just being constrained to their current geographic location. ➢ No ads
  11. 11. TINDER Marketing Strategies Monetization
  12. 12. What CLOSETS can adopt from TINDER? 1 Face2Face Present & WoM - Singapore market is quite small, ~5 millions - If our target customers for CLOSETS are office workers & housewives, can we have face-to-face presentations to introduce our platforms to them? 2 Events Sponsorship - Events for office workers or housewives 3 Variable Rewards - Unexpected items appears, letting them keep swiping.
  13. 13. UBER Business Model - Uber’s revenue is up 18% month over month, and in the past year alone they’ve grown from just 75 employees to more than 300. (Source)
  14. 14. UBER Marketing Strategies Early Adopter Advocacy - Uber interacted regularly with the tech community by sponsoring tech events, providing free rides - As early adopters tried Uber, they took to blogs, social media and every other way possible to tell their friends about this new way to ride.
  15. 15. UBER Marketing Strategies Word of Mouth from Satisfied Customers - 95% of all our riders have heard about Uber from other Uber riders. - In fact, for every 7 Uber rides, word of mouth generates a new Uber user. (Source)
  16. 16. UBER Marketing Strategies Leverage Distinct Growth Opportunities Uber has also leveraged some real life situations to spur growth, including: 1. Restaurants and Nightlife 2. Holidays and events 3. Weather 4. Sports (Source) Special events and holidays also provide an opportunity to showcase Uber’s model
  17. 17. UBER Marketing Strategies Leverage Distinct Growth Opportunities
  18. 18. UBER Marketing Strategies Uber has experimented with: ● on-demand Uber Ice Cream ● on-demand roses for Valentine’s day ● on-demand barbecue in Texas ● DeLorean rides in San Francisco ● UberCHOPPER helicopter rides to the Hamptons ● Standard promotional efforts, such as $10 off coupons and the like.
  19. 19. UBER Marketing Strategies Low Risk Trials The company routinely hands out $20 first ride credits that let new users take a free Uber ride to try them out.
  20. 20. What CLOSETS can adopt from UBER? 1 Face2Face Present & WoM - Singapore market is quite small, ~5 millions - If our target customers for CLOSETS are office workers & housewives, can we have face-to-face presentations to introduce our platforms to them? 2 Events Sponsorship - Events for office workers or housewives 3 Low-risk trials - We can give them a small gift if they sell their items to us
  21. 21. SNAPCHAT Business Model Snapchat created a way for teens to share photos freely Snapchat allows users to send photos and videos to one or many friends, while limiting how long the recipients can see them.
  22. 22. SNAPCHAT Business Model
  23. 23. SNAPCHAT Marketing Strategies
  24. 24. SNAPCHAT Marketing Strategies Face-to-face presentation to spread WOM - The founders first spread the word about Snapchat to college friends at Stanford University - People became aware of Snapchat by seeing others use it as well or taking part in the experience by jumping in for group selfies. - “Group selfies” prompt conversations. - In fact, 30% of Snaps are sent to groups (Source). Groups also gather around to view a Snapchat to see it before it disappears.
  25. 25. SNAPCHAT Marketing Strategies Strong User Engagement & Variable rewards - Snapchat messages arrive as little gifts packed with intrigue. We don’t know what’s inside, and we’re anxious to see what it is. We also know the message will disappear quickly, so we focus on it, giving the message our undivided attention.
  26. 26. What CLOSETS can adopt from SNAPCHAT? 1 Face2Face Present & WoM - Singapore market is quite small, ~5 millions - If our target customers for CLOSETS are office workers & housewives, can we have face-to-face presentations to introduce our platforms to them? 2 Variable rewards - Unexpected items appears, letting them keep swiping. 3 Users’ experience, focusing on groups - Surprising gifts to customers - Campaigns focusing on group experience
  27. 27. WHATSAPP Business Model - WhatsApp is a cross-platform messaging app that serves as a reliable, affordable alternative to SMS and MMS—for which carriers often charge per-message. - WhatsApp is free for the first year and then just .99 cents per year after that
  28. 28. WHATSAPP Business Model
  29. 29. WHATSAPP Business Model
  30. 30. WHATSAPP Business Model - No ads - No games - No gimmicks
  31. 31. WHATSAPP Marketing Strategies Word of Mouth - Once users realized the app’s utility, they wanted to spread the word - New products are adopted and effectively marketed by early users to other users, who in turn recruit the next and larger wave.
  32. 32. WHATSAPP Marketing Strategies The Network Effect - Someone who downloads WhatsApp and finds that thirty or forty contacts are already using it is much more likely to remain engaged and send invitations
  33. 33. What CLOSETS can adopt from Whatsapp? 1 Word of Mouth - Singapore market is quite small, ~5 millions - If our target customers for CLOSETS are office workers & housewives, can we have face-to-face presentations to introduce our platforms to them? 2 The network effects - Someone who downloads Closets and finds that some of their friends already download Closets 3
  34. 34. All Consumer Goods Web & Mobile platform - Amazon - Airbnb - Yelp - Linkedin The outlay of each platform will be as followed 1. Business Model 2. Marketing Strategies In Marketing Strategies part, I try my best to highlight how these platform increase liquidity among sellers & buyers & how to attract first users.
  35. 35. AMAZON Business Model - Amazon.com, Inc., doing business as Amazon, is an American electronic commerce and cloud computing company based in Seattle - Amazon.com is the world's third-largest information technology company by revenue
  36. 36. AMAZON Marketing strategies
  37. 37. AMAZON Marketing strategies Cost leadership Change prices frequently to test the demand for products - Amazon changes the price on as many as 80 million items on its site - Amazon’s strategy is to frequently lower prices until they beat competitors - for all products - Amazon uses premium pricing for its products & services, where the company possesses solid market share & competitive advantage
  38. 38. AMAZON Marketing strategies Amazon’s business is highly seasonal The company generated 33%, 33%, and 32% its annual revenue during the fourth quarter of 2014, 2015, and 2016 respectively
  39. 39. AMAZON Marketing strategies Prime Customer loyalty program - About 25% of US households have Prime accounts - Loyalty program members spend 5-20% more than non-members, and purchase frequency - The logic behind: customers are paying for Prime & they wanna make use of that investment as best they can
  40. 40. AMAZON Marketing strategies Prime Customer loyalty program - Prime Customers get free & fast shipping for millions of products, cloud storage, various free streaming movies & TV shoes, streaming music & a Kindle owners lending library - A vital point about all of these perks is that they’re continual. That is, instead of giving shoppers one-time rewards for purchasing, Amazon loops its loyalty members into a entire ecosystem with benefits
  41. 41. AMAZON Marketing strategies Prime Customer loyalty program
  42. 42. AMAZON Marketing strategies Email marketing ❖ Amazon sends out different emails for different products, even when you purchased everything at the same time ➢ Very specific subject lines, when customers are going through their email, they are more likely to notice a particular product name. ➢ If someone particularly liked or disliked a certain product, they will then be more likely to click.
  43. 43. AMAZON Marketing strategies Email marketing
  44. 44. AMAZON Marketing strategies Email marketing
  45. 45. AMAZON Marketing strategies Amazon Prime Day 2016 - Exclusively for Prime members - The sale offers more deals than Black Friday on a variety of products including electronics, toys, video games, movies, clothing, patio, lawn and garden, sports, outdoor items, and more. - The shopping event provides special offers including “Lightning Deals” and “Deals of the Day” on products to new and existing Prime members as often as every 10
  46. 46. What CLOSETS can adopt from AMAZON? 1 Prime Customer Loyalty Program - We can partner with Spas, hair salons & nail shops to offer benefits for customers joining our prime memberships 2 Email Marketing - Sends out different emails for different products, even when you purchased everything at the same time - Very specific subject lines - Segment email contacts who open our emails the most & who not so that we can send emails suitable for them. For example, if customer A tend to open our Edm about Gucci a lot of times, meaning that she likes Gucci so we can send her special voucher on Gucci products. 3 Prime day - Create very special day for prime customers only
  47. 47. Airbnb Business Model - Airbnb is a marketplace to list, find, and book unique accommodations - The company has over 2,000,000 listings in 34,000+ cities and 190+ countries & served 60,000,000+ guests till now.
  48. 48. Airbnb Business Model
  49. 49. Airbnb Marketing Strategies Craigslist Platform Integration - Craigslist was the place where people who wanted standard hotel experience looked for listings—in other words, Airbnb’s target market. - Airbnb offered users who listed properties on Airbnb the opportunity to post them to Craigslist
  50. 50. Airbnb Marketing Strategies Craigslist Platform Integration ❖ RESULT ➢ This integration brought AirBnb huge volume of potential users accessible via Craigslist. ➢ Those with properties listed on Airbnb ended up making more money on their listings, which kept them using the service
  51. 51. Airbnb Marketing Strategies Craigslist Platform Integration
  52. 52. Airbnb Marketing Strategies Improve the quality images of listings - PROBLEMS: users weren’t doing a great job of presenting their listings, "The photos were really bad, and therefore no one was booking because you couldn't see what you were paying for." - AIRBNB’S SOLUTIONS: they rented a $5,000 camera and went door to door, taking professional pictures of as many New York listings as possible. - RESULT: led to two to three times as many bookings on New York listings, and Airbnb’s revenue in the city had doubled.
  53. 53. Airbnb Marketing Strategies Photography service
  54. 54. Airbnb Marketing Strategies Airbnb photography service - Hosts could automatically schedule a professional photographer to come and photograph their space. - Airbnb earn their hosts an average of $1,025 per month - By 2012, that number had grown to more than 2,000 freelance photographers employed by Airbnb to photograph 13,000 listings on six continents
  55. 55. Airbnb Marketing Strategies Social connection - 2011, Airbnb introduced Airbnb Social Connections, leveraging users’ social graphs via Facebook Connect. - Airbnb Social Connection allows listings to show the avatars of mutual connections—friends who have stayed with the host or are friends with the host. - Social Connections also allows guests to search for hosts based on other characteristics, like
  56. 56. Airbnb Marketing Strategies Attract new sellers - Physically visit - Facebook ads PROBLEM: Airbnb is a two-sided marketplace, meaning that they have to grow both the demand side (travelers) and the supply side (hosts). SOLUTION: Setting up an A/B test in which they chose several small vacation markets & They randomly selected - half of the locations to physically visit - half to target using Facebook ads
  57. 57. Airbnb Marketing Strategies Attract new sellers - Physically visit - Facebook ads
  58. 58. Airbnb Marketing Strategies Attract new sellers Physically visit Facebook ads - In the markets they physically visited, Airbnb talk to the few users already in that market to get an idea of what was going on. - They also made sure to get contact info for everyone they talked to who showed interest in hosting, and they followed up later with more information, an offer to create a listing for them to review.
  59. 59. Airbnb Marketing Strategies Attract new sellers Physically visit Facebook ads - RESULT: Cost per acquisition was 5x better for actually sending people into markets. - After “kickstarting” these markets with a human presence, they kept growing 2x faster by themselves
  60. 60. Airbnb Marketing Strategies Expansion: “The Entire Trip” - Launched Airbnb Neighborhoods and Local Lounges - Neighborhoods allowed Airbnb guests to use their interests to help them select a place to stay.
  61. 61. Airbnb Marketing Strategies Reference customer Program - Airbnb wants invites felt like gifts (rather than promotions) - Airbnb found out invites with a photo of the sender helped to reinforce that feeling. - They also found that using the Recommended Contacts feature from Gmail and Android APIs resulted in a higher conversion rate, likely because these contacts are closer to the sender.
  62. 62. Airbnb Marketing Strategies Reference customer Program RESULT - Airbnb’s new referrals program has already resulted in hundreds of thousands of nights booked by referred users in 2014 - Referrals increased booking as much as 25% in some markets
  63. 63. Airbnb Marketing Strategies Reference customer Program
  64. 64. What CLOSETS can adopt from AIRBNB? 1 Platform Integration - Collaborate with some preowned forums like http://deluxemall.com/in dex.php 2 Improve image quality of listings - Hire photographers to come to sellers’ house & take pictures for products - Singapore is small so this thing is possible 3 Reference customer program - Invites with a photo of the sender - Use the Recommended Contacts feature from Gmail and Android APIs resulted in a higher conversion rate
  65. 65. Linkedin Business Model - A publicly traded company with a market cap of nearly $18 billion - A network of more than 225 million users from 200 countries and 4,800 employees - LinkedIn users would be restricted to trusted connections that they knew personally or were referred to through others in their professional network.
  66. 66. LINKEDIN Marketing Strategies Focusing on the Tech Scene & local business heroes - LinkedIn solved the classic chicken and egg problem of a network effect business by localizing the network to achieve critical mass around the Silicon Valley audience & tapping into a local population where it could reach critical mass. - This critical mass creates the utility needed in network businesses to create the high-quality must-have experience that breeds both user loyalty and word of
  67. 67. LINKEDIN Marketing Strategies Freemium - Evenue streams: job listings, subscriptions, and advertisements. - LinkedIn Premium—which offers special packages for businesses, recruiters, job seekers, and sales professionals—boasts increased functionality and advanced features that vary from package to package.
  68. 68. LINKEDIN Marketing Strategies The Value of Active Users - The emails had a 5% click-through rate (CTR) for inactive users, but a 20% CTR for active users. - Rather than trying to woo inactive users, LinkedIn chose to once again focus on their strengths, making the emails more appealing to active users by testing subject lines, copy, and formatting.
  69. 69. LINKEDIN Marketing Strategies The Value of Active Users - Active users also play a critical role in both re-activating inactive users and bringing in new ones - When people signed up for LinkedIn they were asked about their current company and title, and over 90% of people answered this question. This information was used to engineer the Reconnect Flow.
  70. 70. LINKEDIN Marketing Strategies Double Viral Loop - With the Reconnect Flow, once new users signed up, they were immediately presented with a list of people at their current company already on LinkedIn - The Reconnect Flow is created when every Linkedin users are asked 2 questions, “Who do you know?” & “ where you used to work”
  71. 71. LINKEDIN Marketing Strategies Public profiles - Making profiles public created big traffic and acquisition gains for LinkedIn. - Profiles showing up in search results put LinkedIn in front of more and more people. - Once people clicked into the site from search, they had to then sign up for LinkedIn before they could connect with the person they were searching for.
  72. 72. LINKEDIN Marketing Strategies Acquired the Gmail plugin Rapportive - In February of 2012, LinkedIn acquired the Gmail plugin Rapportive, which lets users connect with their contacts on LinkedIn right from Gmail and displays their most recent social networking updates - This extended the ability to build LinkedIn connections from the site to user’s primary online productivity tool—email.
  73. 73. LINKEDIN Marketing Strategies Acquired SlideShare - In 2012, LinkedIn acquired SlideShare, a platform for sharing professional content like presentations and business documents
  74. 74. LINKEDIN Marketing Strategies Content Marketing - LinkedIn Today - LinkedIn Today—which offered users a way to “cut through the clutter” and stay in-the-know without having to juggle multiple websites, blogs, tweets, and newsletters. - LinkedIn Today launched as part of the LinkedIn iPhone app, allowing users to read and save articles on the go.
  75. 75. LINKEDIN Marketing Strategies Influencer program - The idea was simple—select “thought leaders” to create and share content directly with users, exclusively on LinkedIn. - On average, an Influencer post receives close to 30,000 views, with some receiving more than a million and as many as 2 million - The key is that Influencers program is good for the Influencers themselves, which is why they’re so willing to spend their limited time creating content for the site
  76. 76. LINKEDIN Marketing Strategies GO MOBILE - In 2013, LinkedIn launched LinkedIn Intro App, leveraging the technology acquired with Rapportive - Linkedin Intro is designed to bring the power of LinkedIn, and the technology of Rapportive, straight to the iPhone’s Apple Mail app. Users were able to see LinkedIn profiles in the iPhone Mail app
  77. 77. LINKEDIN Marketing Strategies Linkedin Intro - When an Intro user receives an email from someone they don’t know, the users sees more than just an unrecognized email address - They also see a snippet of that person’s LinkedIn profile, complete with photo, company, and position. - Tapping on the snippet provided more information—location, education history, mutual connections, past and current occupations, and of course the ability to connect on LinkedIn.
  78. 78. What CLOSETS can adopt from LINKEDIN? 1 The value of active users - Improving strengths is much easier than correcting mistakes - Active users are those loving Closets & selling more 2 Viral Loop - We can ask our app users, “ what is your favourite brands”, “ what is your favourite color” & connect those with same favourite. - They can connect with each other & make friends 3 Solved chicken and egg problem of a network effect - Focus on our target customers of Closets, from them we can create WOM & network effect. - Our target customers are those above 35 years old. So should be office workers & housewives?
  79. 79. YELP Business Model - A platform combines social networking and reviews, letting users ask their friends for recommendations on local businesses. - In 2012, Yelp opened on the New York Stock Exchange with a valuation of about $898 million. - By September 30, 2013, they had accumulated 47 million reviews, with an average of 117 million monthly visitors
  80. 80. YELP Marketing strategies Yelp made their platform Social - Yelp focused on building a network of reviewers with profiles, friends, and accolades. - Because users are more likely to trust reviews from real people than anonymous internet strangers.
  81. 81. YELP Marketing strategies Encourages reviewers to establish reputation - Yelp members can evaluate each other’s reviews, chat online, become friends, and meet with each other at offline social events. - Each Yelp member has a public profile page that records her activities, including reviews written, number of useful, funny, and cool review votes received - Yelp friends made, and compliment letters displayed. - Yelp also recognizes some qualified prolific
  82. 82. YELP Marketing strategies Yelp Incentivized “Good” Behavior, through rank and recognition. - It turns out that people really liked receiving recognition for their reviews. They were more likely to write in-depth, well crafted reviews when their names appeared alongside them. - The most engaged Yelp users are awarded “Elite” status.
  83. 83. YELP Marketing strategies Yelp Incentivized “Good” Behavior, through rank and recognition. - Yelp users (65.8%) have contributed six or more reviews, while just 9.2% of Yelp users have contributed a single review - At regular Yelp Events, Elites often got first-chance to RSVP - There are specific events just for Yelp Elite that offer free food and drinks and swag. - To maintain Elite status—users had to maintain both the quantity and the quality of their reviews.
  84. 84. YELP Marketing strategies Yelp started local - Like Uber, Yelp took the city-by-city approach - Yelp launched in San Francisco in 2005 and making the city its sole focus - CEO explains, “the new generation of Web workers took Yelp to be their entertainment bible, and that helped generate enough critical mass that others joined in.”
  85. 85. YELP Marketing strategies Yelp put users first - Unlike Citysearch, which displayed professional reviews more prominently than normal user reviews, Yelp leveled the playing field by eschewing professional reviews altogether. - Yelp even made it difficult for businesses to have negative reviews taken down. - Yelp stays true to the users kept the community engaged and participating
  86. 86. YELP Marketing strategies SEO - Yelp augmented this core content with their own, launching local blogs, city pages, user generated lists. - As with both YouTube and SlideShare, the embed feature can be a powerful traffic driver, and Yelp’s embeddable review widgets were no different. - Businesses added the widgets feature to show off their Yelp ratings, and Yelp got a ton of links and great anchor text in return.
  87. 87. What CLOSETS can adopt from YELP? 1 Make Closets social - Create user profiles with profiles, friends, and accolades. 2 “Elite” members & encourage users to establish a social image or reputation - Create place where Closets users can evaluate each other, chat online, become friends, and meet with each other at offline social events. Closets users should have a public profile page that records her activities. Closets can also recognizes some qualified prolific reviewers as “elite” members.” 3 Solved chicken and egg problem of a network effect
  88. 88. Luxury Goods 1. Etsy 2. Ebay 3. The RealReal 4. Tradesy 5. StyleTribute Reasons to choose these platforms for research ● All are world-known ● Same business model with Reebonz
  89. 89. All Consumer Goods Mobile & Web platform - Etsy - Ebay - TheRealReal - StyleTribute The outlay of each platform will be as followed 1. Business Model 2. Compare it against Closets (Differences & similarities) 3. What Closets did better 4. What Closets can adop from them
  90. 90. Etsy Business Model - Etsy is a peer-to-peer e-commerce website focused on handmade or vintage items and supplies, as well as unique factory-manufactured items - 2015, ten years after Etsy’s initial founding, the company successfully completed its IPO, raising more than $287 million and resulting in a valuation of more than $3.5 billion.
  91. 91. Etsy Marketing Strategies Attend art and craft shows across US & Canada - Problem: Etsy faced a challenge unique to two- sided marketplaces: finding sellers and buyers - Solutions: Etsy teams attended art and craft shows / fairs across the US and Canada to convince high profile feminist crafters to open up stores and sell their wares on Etsy, buy them lunch or give them “craft show kits” and promotional materials.
  92. 92. Etsy Marketing Strategies Word of Mouth - Powerful word of mouth sharing came from feminist bloggers who used crafting as a form of expression and rejection of mass produced culture.
  93. 93. Etsy Marketing Strategies Organic Marketing / Network Effects - Since 2011, organic channels have represented 87–91% of Etsy’s traffic, while paid ads are have been responsible for between just 2 to 7% of traffic:
  94. 94. Etsy Marketing Strategies Empowered Sellers - As the company grew, it continued to provide support for sellers, who marketed their wares and, in turn, marketed the Etsy platform. - Etsy provides internal management tools & third party apps to help sellers better process their orders and stay in touch with their customers, deep social media integrations
  95. 95. Etsy Marketing Strategies Leverage social media with their motivated power-sellers Pininterests Blogs - Before, Etsy uses blog - Now, new social networks like Pinterest have continued to send low-cost, high-value traffic to Esty. - Etsy also launched a Guest Pinner program in which pinners—including Etsy Sellers, popular bloggers, and brands like Martha Stewart Weddings Magazine—pin to Etsy group boards.
  96. 96. Etsy Marketing Strategies SEO - Search Engine Marketing from Google product listing ads
  97. 97. Etsy Revenue Model - Etsy generates revenue in six different ways ○ The $0.20 listing fee charged for each item ○ A 3.5% commission on every sale ○ Promoted listings ○ Direct checkout ○ Shipping labels ○ Point of sale payments - Revenue generated by seller services helps to offset the cost of credit card processing fees from marketplace transactions.
  98. 98. Etsy 2 Factors in Etsy’s growth 2 factors ● Small Take Rate ● Non-transactional Revenue
  99. 99. What CLOSETS can adopt from ETSY? 1 Meet potential sellers face to face - Convince them to consign their luxury items - Give voucher - Spread word-of-mouth sharing 2 Focus on Empowered sellers - Provide empowered sellers tools to manage their orders 3 Leverage social media with their motivated power-sellers - Sellers can share their listings on their social platforms, Fb, Instagram & Pinterest
  100. 100. Ebay Business Model - A prominent online player because of the vast portfolio of products - Bill Me Later is an Ebay service that provides convenient and secure payment method designed for purchasing on the web or over the phone.
  101. 101. Ebay Ebay Authenticate - Sellers are able to opt-in by selecting “Sell with eBay Authenticate” - Industry experts will authenticate, list, sell, and then ship the product to buyers. - After the item is sold, sellers receive 80% of the final selling price. - With the eBay Authenticate program, eligible items like handbags and wallets are listed for 60 days and if it doesn’t sell within that time frame, the product is returned to the seller at no cost.
  102. 102. Ebay Ebay Authenticate
  103. 103. Ebay Ebay Authenticate
  104. 104. Ebay Ebay Authenticate
  105. 105. Ebay Give sellers more tools and data to grow their business - Ebay Coach gives sellers data about how quickly certain items are selling, and which items aren’t selling - Ebay also tells sellers when they could increase or lower prices, based on data of similar items sold throughout the site. - Sellers can now pay eBay extra to list their items higher on the page and therefore get more exposure
  106. 106. Ebay Seller Hub
  107. 107. Ebay Collaborate with BigCommerce to expand its seller base - A strategic relationship with BigCommerce that allows the BigCommerce merchants to seamlessly list their products and manage their inventory on the eBay marketplace. - It can significantly expand eBay’s seller base and enhance its portfolio of products.
  108. 108. Ebay Very focus on listings & Structure data - Building Relevant, Persistent and Personalized Experiences, allowing users to see relevant and tailored items, specifically based on their shopping behavior. - Ebay customers are able to do research using our editorial content guides, product reviews, question and answers
  109. 109. Ebay EBay introduces Q&As & you can ask previous buyers about specific products - Previous buyers are already able to leave product reviews on eBay, but opening Q&As to the broader community means potential buyers are now able to ask very specific questions, thus saving them the hassle of having to send an unsatisfactory item back and wait for a refund.
  110. 110. Ebay EBay introduces Q&As so you can ask previous buyers about specific products
  111. 111. What CLOSETS can adopt from EBAY? 1 Create seller Hub - Give sellers more tools and data to grow their business 2 Introduce Q&As - So that customers can ask previous buyers detailed questions 3 Specific Listings - Males/ Females - Size shoes - Size clothes
  112. 112. TheRealReal Business Model - TheRealReal is the premier site for online luxury consignment with over 600 employees and multiple locations across the United States that accept and ship product worldwide.
  113. 113. TheRealReal Compare with Closets What Closets did better - Please see comparison table here
  114. 114. Styletribute Business Model - StyleTribute is a Singapore-based VC- funded start-up that aims at revolutionizing the second-hand fashion industry, combining the premium shopping experience and assortment of Net-a-porter with the convenience and user-friendliness of a marketplace solution like Airbnb.
  115. 115. StyleTribute Compare with Closets What Closets did better - Please see comparison table here
  116. 116. All Consumer Goods Web platform only - Tradesy The outlay of each platform will be as followed 1. Business Model 2. Compare it against Closets (Differences & similarities) 3. What Closets did better 4. What Closets can adop from them
  117. 117. Tradesy Business Model - Tradesy is the simple way to buy and sell fashion. Shop designer fashion at up to 90% off, and cash in on your closet, hassle-free
  118. 118. Tradesy Compare with Closets What Closets did better - Please see comparison table here
  119. 119. Summary - Closets is still young among very competitive C2C platforms - We need to solve the problem of network effect which above- mentioned brands already successfully solved - About pre-owned luxury products, TheRealReal is leading, so we can learn a lot from them.
  120. 120. Thank you!

×