Today is another eCommerce unlock day, and today we're going to dive into sales channels.

RESOURCES & LINKS:
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Download the resources mentioned in this video: https://neilpatel.com/training/

Ecommerce Unlocked Playlist (Full Course): https://www.youtube.com/watch?v=qTLffZkxnT0&list=PLJR61fXkAx10nv7ySTrcUbnesUxuGIWHG

Amazon: https://www.amazon.com/
eBay: https://www.ebay.com/
Etsy: https://www.etsy.com/
Newegg: https://www.newegg.com/
Apple Pay: https://www.apple.com/apple-pay/
Paypal: http://paypal.com/
Google Wallet: https://pay.google.com/about/

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Today, smartphones make up the majority of e-commerce transactions. More people shop on smartphones than on their desktop computers. So what's going to happen now? What do millennials want? What do people want? Well, trends are constantly changing, and if you adapt, you win.

And before we discuss the sales landscape, I wanted to break down some of the history so you can see how ecommerce has evolved over time. Trends are very important because if you capitalize on the trends, you can ride those waves and get a lot of sales.

So what's working in ecommerce right now? Well, if you don't pay attention to the other companies, the products that work, the marketing tactics, you're going to end up in that 80% like everyone else, where you have this e-commerce store and you're not really generating sales.

Most marketing tactics don't work. If you follow what everyone else is doing, you will fail, because most people fail when they build an online business. It is usually due to low sales, lack of experience or a lot of competition. Whatever your business, if you generate enough revenue, everything else pretty much takes care of itself.

See, in e-commerce you don't just have to sell products on your own websites. You could take some of these other stores that are very popular, like Amazon or Walmart, and start selling products on these sites as well. At Amazon they do indeed take a percentage of the transaction, but in the end you could make a lot of money just by having your products on Amazon.

When you choose the right sales channels for your business, you can leverage their infrastructure, gaining greater visibility and generating more revenue. There are many different sales channels, and each has its own advantages and disadvantages, and we will discuss most of them, but I want to touch on a few now.

So of course Amazon is the number one site when it comes to e-commerce. According to research, 55% of Americans start their product search at Amazon. It is easy to use. They have a huge market cap of several, you know, billions, even trillions plus dollars, and they're constantly growing at a rapid pace.

Then there's eBay. It is a marketplace that directly connects buyers and sellers. Auction-based system. You can have a buy-now option.

And if you're going to make handmade products, Etsy is the right place for you. They charge a listing fee plus per transaction. They also have a multi-billion dollar market cap.

If you have a technology company and sell technology products, such as computers, you can go to Newegg. It's a great channel for that. They have billions of dollars in transactions on Newegg. It reaches more than 20 countries and more than 40 million customers.

So you have to look at all these channels. And also figure out: /"Hey, my product, is it right for that channel, /"but also: can I make good money on that channel?/" Because sometimes their advertising costs can be too high based on your margin. take all those things into account.

So when you're developing your e-commerce strategy, you need to look at things like your audience, where are they, the payment processing systems. Does your audience prefer Apple Pay, Paypal or Google Wallet? And how do these payment processing channels work with some of the existing platforms? All of these things affect where you should list your items.

Most people start with their own website, and that's fine. But remember: if you list on your own website, you have to do your own marketing. When you mention one of these other websites, they already have visitors. Sure, you may have to do marketing on their own platform, but they already have the eyeballs. You just have to convince those eyes to go to your product instead of someone else's.

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