The New Game of E-Commerce

Hi friend 👋

Last week, I attended an Amazon seller event hosted by a leading mastermind organization and the creators of Data Dive, an advanced analytics tool for Amazon sellers. I got to meet many 7- to 8-figure sellers and learned from industry-leading experts during this short trip in Orlando. I’ve learned so much that I think it’s too selfish not to share, even if e-commerce might not be your interest. Here are my key takeaways.

We don’t sell products. We sell keywords: 

They have a mantra-like saying: “We don’t sell products. We sell keywords.” In an algorithm-driven e-commerce world, the most straightforward connection between you and your customers is the keyword and understanding how to maximize this linkage to your customers can be the make-or-break factor of your business success. Knowing how to leverage the data available and build out your listing with the aligned information is the real game in the competitive ecommerce landscape nowadays. 

Software game: 

That being said, it is more important now than ever to leverage highly advanced SaaS tool to automate business and build consistency for your online business. The combination of data + systematic processes + AI is the key to gaining a competitive edge. Imagine if you still do your analysis on excel and your competitors use a tool with preconfigured system powered by AI and get 10X faster results than you and launch the products earlier than you do, repeatedly.   

AI is everywhere:

It is literally everywhere (I know it sounds cliché now since everyone is saying it). AI can assist in understanding customer sentiments, preferences, and ways to improve products by analyzing vast amounts of data in seconds. New business processes and methodologies were also brought up for product ideation, advertising design and other marketing initiatives. The tools are available to all of us (almost) but figuring out which one to pick for which job, or how to best use AI for our own businesses, is still kind of a wild frontier. This is the time for people like us, who are given a chance to be the trailblazers and the first to try out and really set the rules on how to use AI in our respective fields. 

Tiktok shop:

I personally have been resisting getting on yet another social media platform that can destroy my hard earned sanity, but I’d say Tiktok Shop is the most valuable/actionable tip that I’ve learned that may make a huge impact on your e-commerce business. I’ve talked to real people telling me how they get daily sales from a tiktok account of only 20 followers. All you have to do is to set up your shop and allow the influencers to reach out and do the work (given the proper conditions).  Tiktok shop is definitely a thing worth trying if you sell physical products as the investment is low (just set up the tiktok shop) and the return can be so much more than you think.  

I hope you find these insights helpful, and I'm happy to share more about using AI in business operations or marketing. Let me know if you like this type of content by replying a few words to this email. I appreciate your feedback!

Happy New Year!🎉 (Is it too late to say this?) Let's make the most of 2024!

Talk soon,

Mia 😊