07/06/23 Nick Uresin
Join us for an episode with Tauseef Syed, Sr. Director of Client Strategy at NetElixir, and an expert in digital marketing and e-commerce. With over 10 years of experience leading cross-functional teams for renowned brands, Tauseef specializes in driving profitable growth through new customer acquisition. Discover the key strategies for selling through multiple channels as Tauseef shares insights on understanding customer behavior, leveraging AI-powered strategies, and striking the right balance between innovation and branding.
- Diversify sales channels: Selling on multiple channels reduces the risk of relying solely on Amazon and allows you to reach a broader audience.
- Prioritize vertical growth: Instead of adding more products, focus on maximizing sales potential within your existing product range on each channel before expanding horizontally.
- Understand channel requirements: Each channel has specific inventory, logistics, and policy requirements. Familiarize yourself with these to ensure effective compliance.
- Tailor strategies to your audience: Pay attention to your target audience’s preferences and prioritize the channels they use for shopping. Develop audience-centric strategies to optimize your approach on each channel.
- RFM analysis: Implementing RFM (Recency, Frequency, Monetary) analysis can help identify high-value customers. Analyze the recency of purchases, the frequency of purchases, and the monetary value of purchases to identify the best customers with the highest lifetime value.
- Pay attention to data and backend processes: Analyze data, understand the backend operations, and seek solutions at a granular level to optimize your operations as an Amazon seller.
Quote of the Show:
If you are in a category that is growing rapidly and you are flat in terms of sales, that doesn’t mean you have to pat yourself on the back. If you have grown by 5% and the category has grown by 20%, that means you have lost market share to somebody else. You cannot be patting yourself on the back for 5% growth. That is where the category has a bigger role to play in informing you about what is happening in the industry.
- Personal – LinkedIn: https://www.linkedin.com/in/tauseefhsyed/
- NetElixir – LinkedIn: https://www.linkedin.com/company/netelixir/
- NetElixir – Website: https://www.netelixir.com/
- NetElixir – Facebook: https://www.facebook.com/netelixir
- NetElixir – Twitter: https://twitter.com/netelixir
- NetElixir – Instagram: https://www.instagram.com/teamnetelixir/
- NetElixir – YouTube: https://www.youtube.com/user/NetElixirIn
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