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Zappos - SXSW Presentation - Top 10 Lessons Learned in E-Commerce - 03 08 08
- 1. Top 10 Lessons Learned in E-Commerce Tony Hsieh CEO SXSW Interactive Conference March 8, 2008
- 4. Power of Repeat Customers & Word of Mouth
- 5. Customer Service in Action
- 10. Top 10 Lessons in E-commerce
- 11. LESSON #1 THE E-COMMERCE BUSINESS IS BUILT ON REPEAT CUSTOMERS.
- 12. Repeat Customer Data for Zappos.com 1.29 2.53 51.0% March 2005 1.37 2.66 51.3% March 2006 1.05 2.36 44.6% March 2004 0.66 1.96 33.5% March 2003 0.47 1.74 27.0% March 2002 0.31 1.50 20.4% March 2001 % repeat customers multipled by avg # purchases avg # purchases by repeat customers over next 12 months % customers who buy again within next 12 months (repeat customers)
- 13. LESSON #2 WORD OF MOUTH REALLY WORKS ONLINE.
- 14. LESSON #3 DON'T COMPETE ON PRICE.
- 15. LESSON #4 MAKE SURE YOUR WEB SITE INVENTORY IS 100% ACCURATE.
- 16. LESSON #5 CENTRALLY LOCATE YOUR DISTRIBUTION.
- 17. LESSON #6 CUSTOMER SERVICE IS AN INVESTMENT . (NOT AN EXPENSE)
- 18. LESSON #7 START SMALL. STAY FOCUSED.
- 19. LESSON #8 DON'T BE SECRETIVE. DON'T WORRY ABOUT COMPETITORS.
- 20. LESSON #9 YOU NEED TO ACTIVELY MANAGE YOUR COMPANY CULTURE.
- 23. LESSON #10 BE WARY OF SO-CALLED EXPERTS. INCLUDING ME...