The eCommerce Marketing Podcast walks you through everything that goes into ecommerce marketing — from inbound marketing to paid advertising to conversions. Learn the strategies top marketing experts use to grow their businesses.
Marketing Strategies Revealed in this Episode:
- Inventory management across all platforms
- Maximizing profit by negotiating net 30 and net 60 terms
- Paying suppliers with credit cards
- Creative ways to get suppliers to trust you
Guest: Nemo Chu, Part-time Marketing Mentor at 500 Startups and Host of FBA Allstars eCommerce Podcast
Topic: Multi-Channel Selling for eCommerce Businesses
In this episode, Nemo Chu shares insights on how eCommerce businesses can successfully expand their sales across multiple channels, including Amazon, Walmart, eBay, and other eCommerce marketplaces. He provides valuable advice on getting started, managing logistics, and maximizing profits.
Key Takeaways:
- Nemo’s Background and Journey (00:02:00 – 00:08:00)
- Transition from coding and front-end development to eCommerce.
- Founding and growing a successful Amazon business to a seven-figure run rate.
- Defining Multi-Channel eCommerce (00:09:00 – 00:11:00)
- Selling across multiple websites like Amazon, eBay, Walmart, Jet.com, and international marketplaces.
- Benefits of diversifying sales channels to reach a broader audience.
- Initial Steps for Multi-Channel Selling (00:12:00 – 00:17:00)
- Importance of maintaining inventory levels to avoid stockouts.
- Ensuring readiness for increased demand when expanding to new channels.
- Managing Inventory Across Multiple Channels (00:18:00 – 00:22:00)
- Using tools like SKU Vault to keep track of inventory and manage stock across different platforms.
- Importance of synchronization to prevent overselling and stock discrepancies.
- Advantages and Disadvantages of Multi-Channel Selling (00:23:00 – 00:30:00)
- Advantages: Increased reach, diversified customer base, potential for higher sales.
- Disadvantages: Complex logistics, inventory management challenges, potential cash flow issues.
- Maximizing Profit Across Multiple Channels (00:31:00 – 00:40:00)
- Negotiating favorable terms with manufacturers (e.g., net 30, net 60).
- Utilizing tools like the American Express Plum card for extended payment terms and better cash flow management.
- Creative Strategies for Negotiating Terms (00:41:00 – 00:46:00)
- Example of a company using billboards to create authority by association and secure favorable terms from manufacturers.
- Fun Fact About Nemo (00:47:00 – 00:49:00)
- Nemo loves basketball and has three pet bunny rabbits named Muffin, XO, and Winston George.
Guest Info and Resources:
Nemo Chu is a part-time marketing mentor at 500 Startups and the host of FBA Allstars eCommerce Podcast. He is also the full-time CEO of a digital products company.
Connect with Nemo:
- Website: Clarity.fm/Nemo
- Podcast: FBA Allstars
