Matt Buchel talking about the traps on thinking an Ecommerce shop is the best way to sell imported products
Thinking that having an e-commerce store is the best way to sell imported products.
Okay, I think we’ve gone past that. Honestly, so many actually, there’s, there’s, there’s ones that break the
rules, like for example appliances online and Harvey Norman which don’t really have an e-commerce store, right? There’s certain ones that break the rules, but so many things which is a looks like a pure e-commerce store on the outside, is driven by offline things.
As in people going to events, right? People setting up pop-up shops, people setting up stalls, people selling through a range of other distribution, that’s being sold face to face and their website on there and then going backwards to it. You with me? It makes it different coz it costs so much to get a customer through advertising and the one thing you must be able to do is get a customer through advertising. Once you do that, there’s no limit to how much money you make, because the money goes out and it comes back in, once you make a sale goes out and just keeps multiplying gets bigger and bigger and bigger. You with me?
Once you get that part, you got to have the ads that go into the system, automation and talking to them, as well. As part of that process which is not huge. Remember we worked out already that essentially, if you’re doing five calls a day, it’s only really maybe two hours a day tops. That’s 10, 15 minutes per call but it’s a filtering system to get there, so you’d start with 100, knock down, knock down. Most people won’t start with those 100 inquiries because they want to just ease it in, which is why I recommend.
Yeah, sellers of fidgets spinners found it as a hard way to make money, to make a hundred figures and like that, I think those that fad another day, right? I went to the Ecca who knows what the Ecca is up in Brisbane, yeah? I went to the Ecca with my kids and then the lady was, she brought these stuff, real cheap stuff in from, from China. Those balls that threw out and one of my son’s likes it, so he just throw him around, you just catch it and it’s like it’s strong and getting wrapped around and stuff like that. The lady’s actually going, we bought one ball and she gave us a fidget spinner at no charge. They’re worth like literally nothing, right? And then my other son goes, “Can I have a fidget spinner?” “You have to buy something.” “Oh can I please go have a fidget spinner?” And she goes, “Oh okay, here have a fidget spinner.” So they’re worth nothing because it’s a fad, you know what I mean? So, but I think you guys get that now, everyone’s pretty clear on that, yeah? I’ve had a few conversations with people here and there and and like tonight if everyone’s got any other questions, first I’m happy to answer them for you.
Recognize that only 9 percent of total retail market and do the math choose high-value items, or with higher margins, or low-tech items with high volume repeat business, all the warranty and all those little bits and pieces, like, yeah okay. It’s gonna happen with bigger stuff and people are going to expect more, we’ve got so much money and they’ll pay for it, you hear me? So if you had, use those tractors for example, give or take you’re making seven grand a tractor, sell 10 tractors you’re making $70,000. You’ve one had a major problem and cost you five grand, you don’t really even notice that, you hear me? It’s all just being clear upfront.
Coz you got to allocate for, coz you got to the do the right thing by your customers. Really, really important, okay?