The Accel 5 mantras of e commerce in Turkey
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Slides presented at the Webrazzi Summit 2012 in Istanbul presenting some of the things that Accel learned after speaking to dozens of internet and ecommerce companies in the region. I summarized these ...
Slides presented at the Webrazzi Summit 2012 in Istanbul presenting some of the things that Accel learned after speaking to dozens of internet and ecommerce companies in the region. I summarized these learnings into 5 “Mantras” that are developed in the presentation:
1.“Me too” is not enough: don’t be the 50th private shopping club or Groupon clone. There is no room for you in the market. Think “differentiation”
2.eCommerce is not a cheap journey: be prepared! Most successful ecommerce companies raise more than $50m during their lifetime, so watch every penny you spend and pay specific attention to (1) Inventory and working capital and (2) marketing costs (in particular a repeat basket is not free!)
3.Run your business with numbers: eCommerce is all about numbers and doing a 100 small things right
4.Build your brand by focusing on user experience: a strong brand is necessary to reduce your CAC and increase your profitability and the best way to build it is to focus on providing a great user experience (product, service and payments)
5.Mobile will be bigger than you think: mobile will represent 20%+ of you sales before you realize it!
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