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eCommerce Innovation Lab presents eCommerce Strategy Map
Transcript of eCommerce Innovation Lab presents eCommerce Strategy Map
- Google's Global Market Finder
- SimilarWeb to analyze competition & identify niche sites
- CS Market Insight Reports
- Frost & Sullivan's Market Insight Reports
- Amazon, eBay, JD.com, etc. (search for similar products)
eCommerce Strategy Map
International Trade Specialist
- Outbound Marketing
- Content production (video/articles)
- Social Media
Success and what comes next
Are you committed to a long-term brand building strategy?
What digital medium will suit you and your products best? Video, articles, photos, TV shopping
What assets do you already have that could help build a "content commerce" play? Tutorials, user-driven content? Cosmetics company with make-up "how-to" videos, etc.
What social media platform would give you maximum exposure to your potential customers?
How do you leverage online analytics tools to grow your digital presence? Analyze your competitors as well as your own site in-country.
Do your overseas partners have a digital marketing strategy? How will you leverage their knowledge of their domestic digital media channels to build your brand?
Is your product easily found in the local market?
Is the marketshare across your product category fragmented in the local market or is there a dominant player?
Are there policy/regulatory trends that you can take advantage of in a particular market?
Are there local challenges in cold-chain, quality control, logistics, techology integration, etc. that make your product more desirable?
What online tools are readily available to perform a basic market analysis?
Do you currently sell your products online in the U.S.?
Does your US website show up in overseas search engines without marketing?
Is your product unique and not found in local markets? ie obscure B2B after-market auto part
Are you aware of marketplace options available in your target markets?
Would a local distributor want to purchase your product outright?
How does your site perform when accessed from a different market?
Is your inquiry and check-out process foreign-buyer friendly?
If you choose to drive consumers to your US-based or overseas corporate-owned platform, do you have a payment gateway that accepts foreign currency and repatriates funds?
Is your website mobile optimized?
Is your website translated/has options to use Google Translate?
Will the marketplace you work with help you optimize?
Have you accounted for landed costs, ie. Product registration, duties and taxes, shipping costs, etc.?
What is your competitive landscape in the target market?
Are your consumers price sensitive?
Would you be able to position as a premium product which would warrant a higher price?
Are you aware of and abiding by foreign laws and regulations (business licenses, FDA equivalent, power usage requirements, prohibited ingredients, etc.)?
Are you screening your customer to ensure buyers are approved to receive U.S. goods (review sanctions lists and perform denied parties screening)?
Do the target markets acknowledge US patent laws? Do you need to register or certify your products?
Have you considered international fulfilment and logistics? General logistics, complicated by Delivery Duty Paid terms
De minimis triggers (duties/taxes vary based on quantity, aggregate values etc.)
Export documentation (certificate of origin, ACE customs declaration, bill of lading, commercial invoice, etc.)
Who is your carrier? Are they suitable for your specific needs?
Will your customers wait for your product?
Will your production/compliance/tax liabilities increase or decrease if you fulfill direct to consumer from the U.S.?
Payments and Fraud Prevention – International Payment Platform
What e-payment types are commonly acceptable in your target market?
Are you ready to receive payment in the currency of the foreign buyer?
Is a legal entity required in the region for payment processing?
Where does your marketplace's responsibilities begin/end on tax payments of revenue?
What % service fees do marketplace platforms vs. 3rd party payment gateways take out for their service?
Warranties and Returns
What U.S. and foreign customer service do you currently offer?
Have you considered language and time zone differences?
What to do with the returned product?
Ship back to your US warehouse
Refurbish in-country or back in the U.S.
Do you know the standard return policies & culture in your target markets?
Is your product complex and prone to online customer guidance?
Pillar One of Four:
Empower the Commercial Services' Trade Specialists
to counsel clients on eCommerce opportunities
and strategies through off-line professional development programs and online resources.
Global eCommerce Team
2 full-time staff
15 Global eCommerce Trade Specialists
43 Salesforce Chatter Group Followers
45 “EILTEAM” group email recipients
Digital Attaché Integrated
CS Chicago IL
CS New York NY
CS Denver CO
CS Seattle WA
CS Pittsburgh PA
Industry and Analysis
CS Chicago IL
CS Long Island NY
CS Rockford IL
CS Cleveland OH
CS Columbia NC
CS Atlanta GA
Dan (Kyungsoo) Kim
CS Chicago IL
CS Harlem NY
Off-line certification course
IRCE - Chicago (June)
Retail Big Show – NY(January)
Quarterly internal web-based training
Pillar Two of Four: Align the Commercial Service’s menu
to immediately address eCommerce-focused clients’ needs.
Virtual Product Pitch
Pillar Three of Four: Build private-sector partnerships
that leverage shared data, expertise and resources in support of SME exports through eCommerce.
3rd party onto export.gov
CS content onto 3rd party
Pillar Four of Four: Coordinate across ITA teams
and initiatives, to support a singular ITA eCommerce strategy that addresses trade barriers and policy issues immediately impacting the SME online seller.
What to Consider:
Building Your Digital Brand
Identifying Market Opportunities
Choosing the Right Channel Mix
Protecting Your Brand
Optimizing Your User Experience
Pricing Your Products
Shipping Your Products
After Sales Services
-Shopping cart feature & additional marketplace storefront
eCommerce client spectrum
mCommerce - 30 to 50% of all current global online traffic comes from a mobile device.
cCommerce - "52% of consumers who watch product videos say those videos make them more confident about purchases" Invodo
Sell from your own US-based site
Bypassing Some Market Barriers
Own your analytics
No brand recognition/overseas traffic
Embedded payment gateway needed
Logistics Partner required
In-house tech support
Lack aftersales service options
3rd Party Sites (Marketplace/Platforms)
Lots of Customer Traffic
Content & Nav in Local Language
Payment Received in Other Currencies
Local after-sales service (depends)
Local Presence Required
Lots of Competition
Lack of control of customer data
Potential lack of control of pricing
Sell from your own in-country site
Own Data & Design
Control your brand
Localized language Options
ICP License Req.
Third-party payment gateways
Sell to in-country distributor - B2B
Immediate purchase of product
Requires interested Dist.
No ‘C’ – Lack of localized info
Distant brand management
- Web Developers Guide (TBD)
Delivered duty paid (DDP) is a transaction where the seller pays for the total costs associated with transporting goods and is fully responsible for the goods until they are received and transferred to the buyer.
- Fedex Crossborder
- Global Link - http://www.gld-usa.com/
VAT International - http://www.vatinternational.com/