Whew - 2008! I hope everyone had a great trip into the new year and recovered from a wild holiday shopping season. 2007 was a big year for many of our customers that mastered (automated) existing online eCommerce channels and expanded into new ones (add’l CSEs, paid search campaigns, new marketplaces). It was also a good year for ChannelAdvisor with cool new products (big shout out to the kick-*** ShoppingAdvisor team) and joining forces with Marketworks.

We’ve anticipated your “Enough dwelling on the past already” and painstakingly created a list of New Year’s Resolutions that should be on your list if you’re ready to turn the dial on your business to 11 in 2008 (I’ll never get tired of Spinal Tap references).

  • Monitor your eBay DSRs - More then ever, seller ratings will have a direct impact on eBay sales. Sellers with poor DSRs will drop in search results and not be eligible for fee discounts. Shipping in general sees the lowest scores so this is an area that you need to focus on (expect more changes here from eBay in 2008).
  • Prepare for eBay Finding 2.0 - Visual shopping is here to stay and it’s coming more then ever to an eBay site near you in 2008. eBay’s new Custom Item Specifics will also significantly change the new eBay search experience, giving you as a PowerSeller the ability to define key product attributes and impact search results.
  • Understand eBay’s Best Match feature - eBay’s Best Match algorithm will affect listing strategies that work well today. There are no more guarantees that listings will show up on the first page in the results for an “ending soonest” sort. Details like fixed shipping prices, product attributes and DSRs will play a vital role in where and when your listings will be displayed.
  • Focus on Amazon - If you’re not already on Amazon then we’re going to plead with you again to not wait any longer. Amazon’s North American third quarter sales in 2007 grew 42% compared to the third quarter of 2006 (and you can expect similar growth for this past holiday season). Amazon has over 78 million active customers that you could reach at no cost (there are no listing fees). Better yet, Amazon will waive monthly subscription fees for ChannelAdvisor customers for three months, a total value of $119.97 ($39.99/month).
  • Check out Overstock.com - Diversification is essential for long-term growth. Overstock.com is a master-marketer and offers an attractive target market for brand-name products (not in small part due to its recognized well-crafted shopping experience) in the US. And Overstock.com has no listing fees or final value fees making this a great risk-free channel for your products.
  • Upgrade your images - The key to successful selling on Amazon and Overstock Shopping are clean, inviting images. Better images = more sales. eBay’s new Shapshot view (part of Finding 2.0) and possible free Gallery in 2008 (come on, eBay …) will drive a more visual shopping experience for your customers. That’s why it’s important to that your images are equal to or better than your competition’s.
  • Automate, automate, automate - How much time do you spend on repetitive tasks that keep you or your staff away from exploring new vendors or revenue opportunities? Have much could you save by automating Listing, Feedback, Unpaid Items, Second Chance Offers, Best Offers, Checkout or Order Processing? Look at every facet of your business operation and find a way to automate it to maximize your margins. Call your ChannelAdvisor Account Manager to brainstorm and if you’re not a customer contact us to see how we can help.
  • Go global - Diversify into international markets to reach more buyers. Take a look at Europe where eCommerce is growing faster then in the US and many consumers are eager for American products (with a very favorable exchange rate) from trusted US online retailers. Upgrade your product portfolio, systems and even your staff to meet strong international demand.
  • Attend relevant eCommerce conferences - eBay Live is a great celebration of the eBay culture, but you need to look beyond single-channel conferences to learn about multi-channel eCommerce at events such as the IMA Merchant conference in Las Vegas (March), ChannelAdvisor Catalyst (April), Internet Retailer (June) and Online Market World (October).

You can download our white paper here. Above all stay focused, draw upon the expertise of peers and partners, and always put your customers first.

Have a great 2008!

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