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ARTICLE InspirationJuly 28, 2014

The Exchange Group, part 3: Top 10 tips for e-commerce retailers


Working with suppliers you trust, investing in mobile technology and leveraging website analytics are among online entrepreneur Jason Wyatt’s top 10 business tips.

The Exchange Group encompasses the wildly successful BikeExchange online marketplace, as well as a number of other online marketplaces, including TiniTrader , RenoExchange and FurnitureExchange .

With international expansion in New Zealand and Germany underway, its Managing Director Jason Wyatt shares his insights for e-commerce success.

Jason Wyatt’s top 10 tips for e-commerce business owners

1. Build a brand that people trust: “Our plan was always to build up a brand that worked, and one that people could trust.”

2. Offer the best product at the best price: “Put your time, energy and effort into creating your product, and offer it at a good price. That is not necessarily the lowest price.”

3. Work with suppliers who reflect your values and business goals: “SecurePay has been incredibly helpful in our journey. They offer a great price and a great service, and there is that element of trust in the relationship.”

4. Develop a service culture: “There are more people shopping online these days, but there is a lot more competition, too. Stand out with your service.”

5. Put your customer first: “Understand them, know them and find out what they want. Go beyond their expectations every time.”

6. Mobile first: “If you are investing in a website, make sure it is built responsively for all mobile devices. Mobile usage is growing at 20 per cent per year.”

7. Use analytics: “I am surprised every day at our analytics and what it tells us. Listen to what your analytics are telling you about your customer. We do a lot of A / B testing.”

8. Think global: “You can sell any product to anywhere in the world. There are thousand of Australians who buy online from overseas sites. It is all about the product and service you deliver.”

9. Build online communities: “Tailor communications with your customers online according to different channels. If they are on Facebook, they will be seeking different information or engagement to what they want on email.”

10. Reinvent and innovate: “We started as a traditional classified type of business. As we grew, we moved with the times and offered customers the option to buy from the site or to buy from a shop.”

Did you know?

Did you know?

A SecurePay payment gateway allows you to accept credit card payments online directly. SecurePay has worked with BikeExchange since 2007.

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