By Anders Lorenzen Andersen Nordic E-commerce – How to enter new markets
Agenda
 
Customer focus <ul><li>You can not teach foreign customers Swedish standards </li></ul><ul><li>Understand the customers ne...
 
Costumer focus <ul><li>What is a foreign  customer’s  ”total price”? </li></ul><ul><li>The price of the goods </li></ul><u...
Agenda
10 easy steps to new markets <ul><li>Get the ”Dankort”. Dankort is the most essential element for success in Denmark </li>...
10 easy steps to new markets <ul><li>Get the ”Dankort”. Dankort is the most essential element for success in Denmark </li>...
10 easy steps to new markets <ul><li>Get the ”Dankort”. Dankort is the most essential element for success in Denmark </li>...
10 easy steps to new markets <ul><li>Get the ”Dankort”. Dankort is the most essential element for success in Denmark </li>...
10 easy steps to new markets <ul><li>Get the ”Dankort”. Dankort is the most essential element for success in Denmark </li>...
10 easy steps to new markets
10 easy steps to new markets <ul><li>Prioritize the foreign customer </li></ul><ul><li>Translate all Swedish text – Don’t ...
10 easy steps to new markets <ul><li>Prioritize the foreign customer </li></ul><ul><li>Translate all Swedish text – Don’t ...
10 easy steps to new markets <ul><li>Other details </li></ul>
Make Roots Preparing Smaller up’s and down’s The first ride The launch
Agenda
Agenda
How CoolStuff did it! - DK <ul><li>About CoolStuff </li></ul><ul><li>#1 Gadgets shop in SE </li></ul><ul><li>#1 Gadgets sh...
How CoolStuff did it! - DK <ul><li>Preparing for the Danish market!  </li></ul><ul><li>Translation of the shop,  About 2 S...
How CoolStuff did it! - DK <ul><li>The launch </li></ul><ul><li>No Danish Employees- No Danish customer service </li></ul>...
How CoolStuff did it! - DK <ul><li>Adjustments </li></ul><ul><li>Replying on Trustpilot reviews </li></ul><ul><li>Getting ...
How CoolStuff did it! - DK <ul><li>Status on the Danish market today </li></ul><ul><li>Leading online gadget retailer in D...
How CoolStuff did it! - DE <ul><li>Preparing for the German market!  </li></ul><ul><li>Translation of the shop,  About 2 S...
How CoolStuff did it! - DE <ul><li>The launch!  </li></ul><ul><li>German customer service from day one </li></ul><ul><li>F...
How CoolStuff did it! - DE <ul><li>Adjustments </li></ul><ul><li>Getting Trusted shops </li></ul><ul><li>Optimizing Adword...
How CoolStuff did it! - DE <ul><li>Status on the German market today </li></ul><ul><li>2010: 15.922 sales </li></ul><ul><l...
How CoolStuff did it!  <ul><li>CoolStuff Philosophy </li></ul><ul><li>We want to be the number one on each market we enter...
Good Resources <ul><li>Velkommen til markedet ( Link ) </li></ul><ul><li>Swedish Trade Copenhagen ( link ) </li></ul><ul><...
Feel free to contact me if any questions Email:  [email_address] The End
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Anders Andersen från JumpB, Torsdag 26:e maj 2011 SEBC

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  • It is nice to be in Sweden! I guees the only place nicer to be, would be Denmark. So it is very convenient that I now will explain you how you can enter the Danish market successfully. 05/30/11
  • The presentation is in 3 parts , Part 1 How you forgin customers thing about your shop, and how you should think about your forgin customers, Part 2 10 small thinks to check when you enter a new market, Part 3 How CoolStuff, became #1 gadgets store in three months in DK, and how CoolStuff in this may month have had mores sale pr. inhabitant in DK than in SE. All that happened in 1,5 year. Well, first Customer focus! 05/30/11
  • This is Nicolavs Copernicvs! He was the person who found out that it is not the sun that circels the earth, but the Earth that circels the Sun . With other words we are not the center of the univers . The point is that when E-commerce companies enter a new market, they still belive that their business model is the worlds best and that they are the center of the univers! But that is a wrong mentality , and when entering a new market the online shop need to realise that it is not about how it works in Sweden , but about what the customers want. A concreet ”Center of the universe problem” with in E-comemrce, is when online shop let the forgin customer pay for the extra delivery cost to the forgin market. But these shops miss the fact that they not competing about beeing the best swedish webshop on that market, but to be the best local shop!
  • So you can not teach foreign Customers Swedish standards and swedish chekouts. It is a typically problem that online shops believes sweden does it the best way. And Sweden is good, but don’t teach forgin customers about e.g. “Trygg E-handel”. They don’t understand it, and it does not create value for the customer. It is not just about what you can offer. It is about what your customers needs! And they don’t need swedish books! And they don’t need swedish payment methods! The customer need to know they are the target group Just keep thinking that it is about creating value for you forgin custoemrs Make it safe for the customer, show that you do an erfort to make it easy and safe for the forign customers, by adding local payment methods, local trust marks and local return adress. The first thing a customer ask when they come to a website is, are there anything that tells me this site is not safe to shop from? And any thing that is different from when the customer normally shop online in his own country, will make him abort the pruchace. Make it local Why should a Dane, a Finn or a Norwegian buy anything in a Swedish shop? – Foreign customers will always ask from themselves ”Are there any risks this product won’t be delivered to me?” How would you think about a forgin customer visiting your store 4Ps The customer need to recognize something in you shop Get customer reviews from foreign customers Get local suppliers/Make the product local 05/30/11
  • Make the customer feel that this webshop is made for him. Don’t leve him with the feeling that he is second priority. E.g. don’t let the customer pay the extra delivery cost. (don’t make a sign, Danish customers click her). Do it like this! A french company the overcame their ego, made a product for you. It feels good as a customer, who deftnliy have a reason to buy this product now! Don’t ofter a discount to a dane becasue Princess victoria is getting maried, offer it when the danish queen have a birthday! Put an effort to make it local
  • Again create value for your customers. Always evaluate if your really makes value for the customer. Point is that this is the issues you have to minimize, to crate more value for you customers. The price of the goods - sometime swedish shop are quite cheep compared to DK and NO The time it takes to find the shop and the product – Marketing is also about crating value – by helping your customer to find what they are looking for. If you not are marketing your self abroad, then you don-t crate the same value abroad as home The risk the product won’t be delivered – this reduces the value you create for the customer. If there is 5% ekstra risk, then the value of your product just dropped 5% Longer delivery time from abroad Issues with foreign customer service Problems with the payment methods Problems with return of goods Problems with custom The is also pluses by selling across boarders, as e.g. unique products that are made best in this countyr. Where countries have a competitve advantage, e.g. Italien shoes from an italien webshop, swedish skiing equitment. 05/30/11
  • The presentation is in 3 parts , Part 1 How you forgin customers thing about your shop, and how you should think about your forgin customers, Part 2 10 small thinks to check when you enter a new market, Part 3 How CoolStuff, became #1 gadgets store in three months in DK, and how CoolStuff in this may month have had mores sale pr. inhabitant in DK than in SE. All that happened in 1,5 year. Well, first Customer focus! 05/30/11
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  • Organitorisk
  • The presentation is in 3 parts , Part 1 How you forgin customers thing about your shop, and how you should think about your forgin customers, Part 2 10 small thinks to check when you enter a new market, Part 3 How CoolStuff, became #1 gadgets store in three months in DK, and how CoolStuff in this may month have had mores sale pr. inhabitant in DK than in SE. All that happened in 1,5 year. Well, first Customer focus! 05/30/11
  • The presentation is in 3 parts , Part 1 How you forgin customers thing about your shop, and how you should think about your forgin customers, Part 2 10 small thinks to check when you enter a new market, Part 3 How CoolStuff, became #1 gadgets store in three months in DK, and how CoolStuff in this may month have had mores sale pr. inhabitant in DK than in SE. All that happened in 1,5 year. Well, first Customer focus! 05/30/11
  • Show sales live. Present how CoolStuff -went from 0-1 mil -increased sales with 67% in one year -got 40% of sales abroad 05/30/11
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  • 6 anders andersen jump b

    1. 1. By Anders Lorenzen Andersen Nordic E-commerce – How to enter new markets
    2. 2. Agenda
    3. 4. Customer focus <ul><li>You can not teach foreign customers Swedish standards </li></ul><ul><li>Understand the customers needs, not your own </li></ul><ul><li>The customers need to know they are the target group </li></ul><ul><li>Create value for your customers </li></ul><ul><li>Trust & Safety </li></ul><ul><li>Make it Local </li></ul>
    4. 6. Costumer focus <ul><li>What is a foreign customer’s ”total price”? </li></ul><ul><li>The price of the goods </li></ul><ul><li>The time it takes to find the shop and the product </li></ul><ul><li>The risk the product won’t be delivered </li></ul><ul><li>Longer delivery time from abroad </li></ul><ul><li>Issues with foreign customer service </li></ul><ul><li>Problems with the payment methods </li></ul><ul><li>Problems with return of goods </li></ul><ul><li>Problems with custom </li></ul>
    5. 7. Agenda
    6. 8. 10 easy steps to new markets <ul><li>Get the ”Dankort”. Dankort is the most essential element for success in Denmark </li></ul><ul><li>Delete ALL Swedish logos – e.g. Swedbank, Trygg E-handel, Posten and Swedish flags </li></ul><ul><li>Remove Swedish login function (+structure) </li></ul><ul><li>Prioritize the foreign customer </li></ul><ul><li>Describe/Document your story on the local market </li></ul>
    7. 9. 10 easy steps to new markets <ul><li>Get the ”Dankort”. Dankort is the most essential element for success in Denmark </li></ul><ul><li>Delete ALL Swedish logos – e.g. Swedbank, Trygg E-handel, Posten and Swedish flags </li></ul><ul><li>Remove Swedish login function (+structure) </li></ul><ul><li>Prioritize the foreign customer </li></ul><ul><li>Describe/Document your story on the local market </li></ul><ul><li>Translate all Swedish text – Don’t mix the languages </li></ul>
    8. 10. 10 easy steps to new markets <ul><li>Get the ”Dankort”. Dankort is the most essential element for success in Denmark </li></ul><ul><li>Remove Swedish login function (+structure) </li></ul><ul><li>Delete ALL Swedish logos – e.g. Kreditor, Swedbank, Trygg E-handel and Swedish flags </li></ul><ul><li>Prioritize the foreign customer </li></ul><ul><li>Describe/Document your story on the local market </li></ul><ul><li>Translate all Swedish text – Don’t mix the languages </li></ul><ul><li>Get a Danish phone number – Cheap at Skype or TDC </li></ul><ul><li>Local E-mail, Domain and local physical address - .SE is unserious </li></ul>
    9. 11. 10 easy steps to new markets <ul><li>Get the ”Dankort”. Dankort is the most essential element for success in Denmark </li></ul><ul><li>Remove Swedish login function (+structure) </li></ul><ul><li>Delete ALL Swedish logos – e.g. Kreditor, Swedbank, Trygg E-handel and Swedish flags </li></ul><ul><li>Prioritize the foreign customer </li></ul><ul><li>Describe/Document your story on the local market </li></ul><ul><li>Translate all Swedish text – Don’t mix the languages </li></ul><ul><li>Get a Danish phone number – Cheap at Skype or TDC </li></ul><ul><li>Local E-mail, Domain and local physical address - .SE is unserious </li></ul><ul><li>Get “E-mærket” and create a profile at truspilot.dk </li></ul>
    10. 12. 10 easy steps to new markets <ul><li>Get the ”Dankort”. Dankort is the most essential element for success in Denmark </li></ul><ul><li>Remove Swedish login function (+structure) </li></ul><ul><li>Delete ALL Swedish logos – e.g. Kreditor, Swedbank, Trygg E-handel and Swedish flags </li></ul><ul><li>Prioritize the foreign customer </li></ul><ul><li>Describe/Document your story on the local market </li></ul><ul><li>Translate all Swedish text – Don’t mix the languages </li></ul><ul><li>Get a Danish phone number – Cheap at Skype or TDC </li></ul><ul><li>Local E-mail, Domain and local physical address - .SE is unserious </li></ul><ul><li>Get “E-mærket” and create a profile at truspilot.dk </li></ul><ul><li>Don’t ask for personal or unnecessary customer information </li></ul>
    11. 13. 10 easy steps to new markets
    12. 14. 10 easy steps to new markets <ul><li>Prioritize the foreign customer </li></ul><ul><li>Translate all Swedish text – Don’t mix the languages </li></ul><ul><li>Offer customer service in the local language </li></ul><ul><li>Delete ALL Swedish logos – e.g. Kreditor, Swedbank, Trygg E-handel, and Swedish flags. </li></ul><ul><li>Get a Danish phone number – Cheap at Skype or TDC </li></ul><ul><li>Local E-mail, Domain and local physical address - .SE is unserious </li></ul><ul><li>Get the ”Dankort”. Dankort is the most essential element for success in Denmark </li></ul><ul><li>Get “E-mærket” and create a profile at truspilot.dk </li></ul>
    13. 15. 10 easy steps to new markets <ul><li>Prioritize the foreign customer </li></ul><ul><li>Translate all Swedish text – Don’t mix the languages </li></ul><ul><li>Offer customer service in the local language </li></ul><ul><li>Delete ALL Swedish logos – e.g. Kreditor, Swedbank, Trygg E-handel, and Swedish flags. </li></ul><ul><li>Get a Danish phone number – Cheap at Skype or TDC </li></ul><ul><li>Local E-mail, Domain and local physical address - .SE is unserious </li></ul><ul><li>Get the ”Dankort”. Dankort is the most essential element for success in Denmark </li></ul><ul><li>Get “E-mærket” and create a profile at truspilot.dk </li></ul><ul><li>Remove Swedish login function (+structure) </li></ul><ul><li>Describe your story on the local market </li></ul>
    14. 16. 10 easy steps to new markets <ul><li>Other details </li></ul>
    15. 17. Make Roots Preparing Smaller up’s and down’s The first ride The launch
    16. 18. Agenda
    17. 19. Agenda
    18. 20. How CoolStuff did it! - DK <ul><li>About CoolStuff </li></ul><ul><li>#1 Gadgets shop in SE </li></ul><ul><li>#1 Gadgets shop in DK </li></ul><ul><li>#1 Gadgets shop in NO </li></ul><ul><li>Top3 Gadgets shop in DE </li></ul><ul><li>” Sveriges bästa E-handlare 2008” </li></ul><ul><li>Sold gadgets for 55 million SEK in 2010 </li></ul><ul><li>Only online marketing </li></ul>
    19. 21. How CoolStuff did it! - DK <ul><li>Preparing for the Danish market! </li></ul><ul><li>Translation of the shop, About 2 SEK/word </li></ul><ul><li>Opening filial in DK at Swedish trade </li></ul><ul><li>Danish domain </li></ul><ul><li>Deal with PNL/Bring </li></ul><ul><li>Dankort in place </li></ul><ul><li>Getting Adwords translated for free by Google </li></ul><ul><li>Getting feedback on site </li></ul>
    20. 22. How CoolStuff did it! - DK <ul><li>The launch </li></ul><ul><li>No Danish Employees- No Danish customer service </li></ul><ul><li>First order on the 17th of Oktober 2008 </li></ul><ul><li>December 2008 with a turnover of more than a million DKK (6,3 million in SEK in SE) </li></ul><ul><li>Conversion rate 1,1% after Christmas </li></ul>
    21. 23. How CoolStuff did it! - DK <ul><li>Adjustments </li></ul><ul><li>Replying on Trustpilot reviews </li></ul><ul><li>Getting E-mærket </li></ul><ul><li>Hiring Danish person, Danish Newsletter </li></ul><ul><li>Changing from PNL to Posten </li></ul><ul><li>Facebook adds and fan page </li></ul><ul><li>Optimizing Adwords </li></ul><ul><li>Up-coming adjustments </li></ul><ul><li>EAN Invoicing </li></ul><ul><li>Danish customer service </li></ul>
    22. 24. How CoolStuff did it! - DK <ul><li>Status on the Danish market today </li></ul><ul><li>Leading online gadget retailer in Denmark </li></ul>
    23. 25. How CoolStuff did it! - DE <ul><li>Preparing for the German market! </li></ul><ul><li>Translation of the shop, About 2 SEK/word </li></ul><ul><li>Opening a filial in DE with swedish trade </li></ul><ul><li>German domain </li></ul><ul><li>Deal with PNL/Bring </li></ul><ul><li>PayPal, Sofortüberweisung, Visa, Mastercard, Prepaid </li></ul><ul><li>Getting Adwords set up </li></ul>
    24. 26. How CoolStuff did it! - DE <ul><li>The launch! </li></ul><ul><li>German customer service from day one </li></ul><ul><li>First order on the 17th of October, 2009 </li></ul><ul><li>December 2009 with a turnover of about 70.000 € </li></ul><ul><li>At Christmas peak about 200 orders a day </li></ul><ul><li>Conversion rate 0,62% after Christmas </li></ul>
    25. 27. How CoolStuff did it! - DE <ul><li>Adjustments </li></ul><ul><li>Getting Trusted shops </li></ul><ul><li>Optimizing Adwords </li></ul><ul><li>Getting Klarna invoicing </li></ul><ul><li>Facebook adds and StudieVZ ads </li></ul><ul><li>Up-coming adjustments </li></ul><ul><li>Hiring German country manager </li></ul>
    26. 28. How CoolStuff did it! - DE <ul><li>Status on the German market today </li></ul><ul><li>2010: 15.922 sales </li></ul><ul><li>Diffecult, since different market and larger competions </li></ul><ul><li>Working on becoming the leading online gadgets retailer in DE </li></ul>
    27. 29. How CoolStuff did it! <ul><li>CoolStuff Philosophy </li></ul><ul><li>We want to be the number one on each market we enter </li></ul><ul><li>We should use local partners </li></ul><ul><li>Growth will come from new markets </li></ul><ul><li>We need to be local, and not Swedish </li></ul><ul><li>The customer is always right </li></ul><ul><li>Foreign customers are served even better </li></ul>
    28. 30. Good Resources <ul><li>Velkommen til markedet ( Link ) </li></ul><ul><li>Swedish Trade Copenhagen ( link ) </li></ul><ul><li>E-mærket ( link ) </li></ul><ul><li>FDIH (Danish E-commerce analycis) ( link ) </li></ul><ul><li>EuroStat (search for ”E-commerce”) ( link ) </li></ul><ul><li>Look at your foregin competitors shops! </li></ul>
    29. 31. Feel free to contact me if any questions Email: [email_address] The End
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