I had a great day on the 13th January at the Eagle in Barrow talking to about 70 local business people about e-commerce. The talk was centred around what I believe to be the two greatest misconceptions about launching and growing an e-commerce business today.
1. If I Buy It It Will Sell
2. If I Build It They Will Come
Clearly both statements are Rubbish !
1. I explained about how to merchandise your stock for a website based around actual forecast visor numbers and conversion rates. As a former Burton Group Merchandiser I know a little about how to merchandise for retail. In Department stores its often done by fixed footage, working out the space you have been allocated and the density, (£’s per square foot) to establish average stock holdings required and therefore open to buy. In multiple retailers where departments can flex its usually done by category sales and weeks cover. With websites it is a combination of conversion and weeks cover.
This is how you work out the stock levels needed linked so many other factors such as lead time, price and desirability.
2. The second part focused on the premise that 2012 is going to be a tough year and online retailers need to use every trick in the book to increase visitor numbers from the right demographic to maximise conversions and turnover. I gave ’10 ways to supercharge your online business in 2012′!
I’d like to thank Harvey Mason for inviting me to talk at the event.
Some photos of the event – the main page is here: Aliveandclicking
“Nigels talk at our last Alive & Clicking event had the attendees fully engrossed in his direct, fun and passionate delivery of online marketing advice. A true expert with real life, tried and tested experiences to share. We will certainly be inviting him back to speak again in the future.”
Harvey Mason – Managing Director, Alive Agency
The next event is on March 23 – Alive and Clicking
If you would like me to speak at your event please email me – firstname.lastname@example.org