Presentation on theme: "FiftyOne Global Ecommerce"— Presentation transcript:
1 FiftyOne Global Ecommerce How to Grow Global SalesOBJECTIVE:Get people to invest in marketing for holiday and 2013Rethink the way they think about “Global”/ ROW/ InternationalEach country is another USTest & Test AgainHeather Kaminetsky@heathkam
2 How do I grow my international sales? Since joining FiftyOne, I have traveled and met a lot of you in the past 5 months and I keep hearing one basic question: How do I grow my international sales?While I can’t tell you everything in the next 40 minutes, I’m hoping that I can get you thinking about how to strategize and grow your international salesI also plan to tell you what we at FiftyOne are doing to help grow those sales.
3 This time last year I was… Let me back up a step and tell you a little bit about me. I spent close to 6 years at Barneys New York where I worked on ecom, digital and offline marketing. At this time hat I was doing last year at this time - I spent 6 years at Barneys. I was just like you …Racing to finalize Holiday marketing & budgets, working on budgets for next year, juggling vendor discussions, buying media, media planning and direct mail planning for Spring (and we just started Fall), and let’s not forget corralling Lady GagaAnd oh by the way, we also started shipping to 90 countries around the world.Juggling the domestic and then this thing called international came along.
4 If you build it… Global is not a field of dreams. Insert HK rant here … <iframe width="560" height="315" src="http://www.youtube.com/embed/5Ay5GqJwHF8" frameborder="0" allowfullscreen></iframe>Drive trafficRequires effort cannot be ignoredNeed to know who is buying so you can get more like themUse promotion to drive acquisitionPeople have never heard of your brand If you are a Macy's they are not even looking for you but got your brandsNo one would ever claim that your dotcom in year 2000 was a field of dreams where you said "hi 50 states, please buy from me online, ok thanks." You all know firsthand it took time, effort, ideas and money to build it to what it is today. However, the way many people treat their international dotcom is exactly like a field of dreams - "hi 103 countries please buy from us". That's never going to work or be anything more than 1-3% of your US business. It's going to take energy, time, testing, and even marketing dollars to grow. We'll help you build a successful global business, you just need to realize its going to take more than a dream to become a reality.
5 Thinking back…. How did you grow your domestic sales? Leveraged brand awarenessSignificant marketing investmentsTested, failed & tried againFree shipping was not always a part of the programYou definitely did NOT compare it to your existing brick-and-mortar business on day one.Again, we get back to … how
6 Re-think your global strategy & thought process Focus on a select group of countriesLeverage your domestic businessLeverage FiftyOne’s offeringInvestRecognize: The Past is not the Future
7 ROW is not a country ROW is not a country REST OF WORLDUNITED STATESROW is not a countryView countries as distinct, individual markets all with specific cultural nuancesDifferent ways to consume media- print vs. online
8 Even regions are different Checkout ConversionAverage Order ValuesHere’s a snapshot:One of the biggest challenges that I keep seeing people have to overcome is the mind set that ROW is a country.If you focus on specific countries and pockets you can find marketable locationsGreat Pockets
9 Tale of two countries Ameerah Ulyana Sergeenko I would like you to now start thinking about ……..These two countries moved into our top 10 within the past 9 monthsBoth oil countriesVery into luxury & wealthSaudi Arabia & RussiaSimilarities:Top 10 in FiftyOne Sales400%+ YOY Growth for SA, crazy strong for Russia with Nov 2011 launchAffinity for luxury brandsCountry history/culture – oppression-typeOil wealthDifferences:Volume:Russia – decent $2.2MM carts started/month (Canada is $14MM, Japan is $2.8MM for comparison)SA – less $1.5MM carts started/monthConversion:Russia – 10% very low, low for mostSA – 16%. Is decent for some merchants, low for othersAOV:Russia is $200SA is close to $400Online preferences:Russia searches on Yandex, social on VKSA search on Google.ae, social on facebookCategories shopped for: from Analytics teamRussiaSAValues:Russia- Trust in brand/product, Good return policiesSA- reputation of website, secure payment, price/valueShopping:Russia- research online with search engines, do not impulse buySA- 70% research product reviews online; mostly menPictures shown: Left – Princess Ameerah of Saudi Arabia, Right - Ulyana Sergeenko, Russian Glamour mag’s “trendsetter of the year”AmeerahPrincess of Saudi ArabiaUlyana SergeenkoRussia’s “trendsetter of the year”
10 Comparison of countries Saudi ArabiaRussiaInternet Users68% Male – 32% FemaleAges: %Ages: %48% Male – 52% FemaleAges: %Ages: %PsychographicWomen’s apparelTraditional mediaKid’s clothing & Women’s coatsSocial mediaCultureRatings & reviewsPersonalizationLuxury brands popularProduct researchDecision FactorsReputation of websiteSecure payment methodTrust in brandGood return policies
11 Magazines, Newspapers, Email Marketing ChannelsSaudi ArabiaRussiaSearch Engine MarketingSocial Media OutletsMarketplacesAffiliateCSE’sPreferred ChannelsMagazines, Newspapers,Social, Search,RUSSIASAUDI ARABIAYandexSocial: VK.comCategories: KidsGoogle.aeFacebook.comCategory: Women’s ClothingMarketplace: Russia – IZ RUK V RUK - irr.ru, Saudi Arabia: Amazon & SoukAffiliate: Russia –CSE: Russia – Yandex Market (like google)
12 All of this is very overwhelming and we are here to help you…
13 In conclusion Plan Market Test Analyze Identify opportunities Invest effectivelyTestIdentify methods to increase conversionAnalyzeKeep an open mindAnalyzeDo not judge by the standards of your 2012 domestic Returns on Ad SpendDo not become discouraged by current conversion rates
14 Thank youAnalyzeDo not judge by the standards of your 2012 domestic Returns on Ad SpendDo not become discouraged by current conversion rates