Tag: Guest blog

How to leverage your overseas website traffic

E-Commerce
By AVASK
Date Updated:
Date Published:

Understanding how to leverage overseas website traffic will help you set your sails in the right direction and generate the sales in your target market.

Here are three ways in which to leverage your overseas website traffic:

1. Domain names and Hreflang

When creating a multilingual website, you may consider buying a .com domain, which is considered a country code neutral domain, or a specific country code domain, such as .co.uk for the UK or .de for Germany.

The advantages of using a country code domain is that your target audience will recognise the familiar domain and that you are active in this country. In addition, with a corresponding email address, you may be communicating that you are able to offer customer service in the language spoken in of country-specific domain name.

CSA Research (2020) found that 75% of respondents say that they’re more likely to purchase the same brand again if customer care is in their language. Buying a country code domain also safeguards your brand against the competition, as you prevent any competitors from buying the domain before you do. 

A disadvantage of using a country code domain is that every variant acts as it’s own website, so the login details will be different and each domain will have its own reputation on the search engines. In addition, owning a county code domain comes with potential legal and regulatory requirements specific to the country, including data protection laws, privacy regulations, and consumer protection rules. 

Alternatively, you can use Hreflang. Hreflang is an HTML attribute used to indicate the language and regional targeting of web pages in multilingual and international websites. 

An advantage using Hreflang is that you keep your original domain. It is preferable that you use a country code neutral domain, such as .com, .net or .org but it is not essential.

Another advantage is that Hreflang allows you to direct the right content to the right audience based on their language and location. This means that users are more likely to land on pages that are relevant to them, creating a seamless and personalised user experience.

It also highlights to search engines that your website contains similar or duplicated content on different pages, but are in different languages. Therefore, your website is not being penalised for duplicated content and your SEO ranking is not negatively affected. 

A disadvantage of using Hreflang is that maintenance can become challenging, especially if you have a large and dynamic website. As your website evolves, adding new pages, changing URLs, or adding new languages can require ongoing updates to hreflang tags.

Another disadvantage is that Hreflang annotations are primarily designed for HTML pages, which might not cover all the types of content your website offers, such as PDFs, videos, or other non-HTML content.

2. Localised content and customer support

According to research, over 70% of internet users will not buy online if the information they read isn’t in their native language.

Even if your website isn’t an ecommerce platform, engaging with your international visitors in their native language will considerably increase the chances of them contacting you for further service.

When it comes to websites, translation alone can leave some key technical, cultural and branding elements behind, especially if you use machine translation with no human checks. This is where localisation takes your website to the next level.

When you localise a website, you don’t only translate content, but also adapt currencies, measurements, date format, symbols, colours, navigation, coding, search engine optimisation (SEO) keywords and more.

For example, did you know that the ‘thumbs up’ symbol is considered offensive in the Greek culture?

If your website includes images and icons, make sure they have the same meanings and connotations in your target markets. If they’re likely to offend certain readers, and not have the same impact as other symbols would, replace them. The same goes for colours.

If you localise your website for non-English speaking visitors, then it is important to be prepared to respond to enquiries in the user’s native language. 

Whether you have a chat facility on your website, a contact form or simply an e-mail address, make sure a native or proficient speaker in or outside your team (such as a translator) can reply accordingly. If you opt for machine or AI translation for replying to enquiries, watch out for any main errors!

A FAQ section in the target language can also become handy. 

3. International SEO

When it comes to multilingual SEO, remember that different countries and cultures search for things online in different ways, and a literal translation of your English keyword will probably not be sufficient. 

Some countries share the same language but have different language variants. For example, in the UK we call a sweater a jumper, but in the USA, a jumper is someone who jumps out of buildings or bridges.

You need to know this if you sell jumpers to the USA and be aware that your potential American customers won’t be searching for jumpers on Google if they want a sweater. 

Other differences are more down to culture. For example, let’s look at the food sector and use the UK and the USA again.

If you’re a UK sauce producer and want to market your spicy sauce in the USA through your e-commerce website, you may want to include keywords in there such as taco sauce, because tacos are a very popular meal in America and Americans may be searching for taco sauce online. 

In addition, seasonal products and offers will also require careful consideration. Many cultures share more or less the same holiday seasons; however, how about Mother’s day, for example? Again, looking at the UK and the USA, Mother’s day is celebrated on different days.

Therefore, if you sell gifts online and want to target the American audience you may want to add Mother’s day gifts as a keyword to your website, to your blog or to your advertising campaign. 

We recommend a keyword research and implement your keywords for each market you are targeting, taking into account linguistic and cultural considerations, alongside product and service considerations. 

Local to Global helps you overcome cultural, linguistic, and branding barriers when exporting your products or services to international markets.

If you have any questions on taking your brand from local to global, then get in touch with us: hello@localtoglobal.uk.

Global E-commerce Expansion: 6 Primary Issues to Investigate

Global Expansion
By AVASK
Date Updated:
Date Published:

A guest blog from Margin Business https://marginbusiness.com/

Online transactions have become an indispensable part of our lives. Even before the pandemic, eCommerce was growing in leaps and bounds.

Then Covid-19 and the resultant lockdowns changed the world as we knew it. Online sales became a part of everyday life.

The pandemic has added $218.3 billion to e-commerce profits over the past two years according to a report in Digital Commerce 360. And it doesn’t stop here.

The eMarketer Insider Intelligence suggests that online sales will continue their double-digit growth for the foreseeable future.

There has never been a better time for online sellers to join the global eCommerce expansion. The market is expected to grow to $7.385 by 2025 and will make up nearly 25% of all retail sales. eCommerce offers a quicker, low-risk strategy for expanding into international markets.

Still, if you’d like to grow your business and expand into European markets, there are a few issues that you will have to deal with.

These include:

  1. Fierce competition
  2. Language and localization
  3. International marketing and promotions
  4. Customer support
  5. Shipping and logistics
  6.  International finance
Graphic with 6 primary issues to investigate

Let’s take a closer look.

Fierce Competition

In the global ecommerce market, competition is fierce. The internet offers the buyer almost perfect market conditions. The buyer can compare prices across the globe and judge the value proposition accordingly.

To compete in these markets, your brand must stand out and offer the buyer something special. In a ubiquitous market, standing out from the competition can be an enormous challenge. Unless you can compete on price, you’ll need a distinctive product proposition that people are willing to pay for.

Expansion into new markets starts with competitor analysis. You need a full understanding of the product, the prices, and the sellers in the market before you commit. This understanding starts by finding out how your most successful competitors attract their clients.

Before you even enter the market, you should have assessed expected regulatory problems, and import laws. You should also have a pretty good idea of what demand looks like.

Once you have committed to a market or product, it is vital that you analyze sales and revenues. Then make adjustments to your marketing strategy. A global market is a dynamic place and unless you continuously respond to changes you’ll be left behind.

Language And Localization

If you’ve been operating in a single country, you’ve likely not come up against this problem in the past. When you go global, you will need a website that speaks in the language of your customers. The look and feel of your website should be customized to local markets. It must also carry prices in the local currency.

Localisation of eCommerce content graphic

Localization includes rewriting the content so that it appears to have been written for the local market. The text must be changed to reflect local preferences and interests. Images, too, must reflect local circumstances. You must also ensure that your listings adhere to local regulations and reflect local units of measure.

In 2014 CSA Research surveyed 3,000 people from ten non-English speaking countries in Asia, Europe, and South America. They found that 60% of the respondents would seldom if ever buy from an English website.

The message is clear. If you plan to pursue global expansion, you will have to localize. Localization is not just about the language. You must also understand the local culture to improve your search engine optimization in the countries in which you sell. Appropriate keywords will help you to rank the search engines, increasing traffic and enhancing the bottom line. 

Marketing And Promotions

Even if your brand is well-known in your home market, you may have to build a new marketing campaign from the ground up in each of your foreign markets. Analyze and understand the habits and preferences of your new target market. Only then can you launch an effective marketing campaign.

Stats on consumers using social media to make purchasing decisions

Consider the appropriate social media platforms for your target markets. Then localize your content and decide how best to deliver your marketing messages.

You’ll need an attractive website to compete in international markets. Keywords optimize your listings to attract your target market. All content including images must be localized to send a coherent brand message. Failure in this respect will confuse consumers.

Customer support

Unless you offer your customers great service and the sort of customer support that they expect, your global expansion strategy will fail. Great customer service builds customer loyalty. Yet, when you spread across the globe, customer service excellence becomes much more challenging.

You need a plan on how to deal with issues such as customer queries, complaints, and service requirements.

Most websites make use of FAQs and many use chatbots. If you have bot-supported customer service, make sure that the bots respond in the appropriate language. Sensitize them to cultural differences. In some cultures, for example, first name use is acceptable in others it is considered rude.

Returns policies differ from market to market. It is important that you understand the returns policies and preferences in each of the countries into which you expand.

Once you’ve established a presence, track your customer satisfaction metrics, and ask for feedback. You can also get closer to your customers and communicate directly with them through social media.

Shipping And Logistics

Online shopping means that businesses can grow their global presence without an international presence. Companies today, manage their global expansion through online marketing and advertising.

Bar chart showing biggest issues companies face with expanding internationally

Yet, Statista reports that some of the biggest problems faced by companies who expand globally have to do with logistics. You can overcome many of these problems by implementing a capable logistics software system. The most important aspect of logistics software is data integrity so you must have a single source of truth. The system must also make it easy for your customers to receive and return products.

It is essential that you find the right carrier partner. Good carriers can provide you with helpful information on the regulatory environment. Today’s customer wants to know where their parcel is every step of the way. Make sure that your shipper offers parcel tracking.

The easiest logistics strategy for start-ups is the use of a third-party logistics company to manage order fulfillment. Once your brand is established you can reconsider your logistics options.

Finances

As soon as you deal in international markets currency conversion becomes a problem. Add to this, the complications of import duties and international shipping costs and you enter the increasingly complex world of global financial management.

Graphic displaying looking closer at your finances

Credit cards and digital payments have simplified payment problems. Yet, you will also have to take account of the various tax laws including value-added tax. Tax and duties will differ from country to country and per goods categories.

When it comes to tax and customs and excise, it is best to employ the services of a local accountant. This will keep you on the right side of the law.

In conclusion

Never has global ecommerce looked as promising as it does right now. If you’re considering global ecommerce expansion, now is the time.

Know the pitfalls and where necessary find partners who can help you to ease your entry into the markets. Expanding into foreign markets isn’t easy but it’s a sure way to grow your business. 

FAQs

1. What Is The Global eCommerce Expansion?

In recent decades, E-commerce has been the fastest-growing channel, with an accelerating change over years. It is estimated that in 2020-2025 half of the total value growth for the global retail sector in the period will be digital. So, there is huge potential to go global in the years to come.

2. How Can We Expand Our Ecommerce Internationally?

These are the 5 steps to going global.

  • Identify the potential of your targeted international market.
  • Understand the challenges of selling there.
  • Search the market.
  • Specify payment methods.
  • Launch the business.

3. How Big Is The Global E-commerce Market?

The global e-commerce market is expected to reach a huge $ 5.55 trillion by 2022. It can grow faster over the next few years, suggesting that global e-commerce has become a lucrative option for online retailers who want to scale their business in the future.

Explore more content from Margin Business

Amazon May Owe You Money with Amazon FBA Reimbursement 

Amazon
By AVASK
Date Updated:
Date Published:

What, Amazon Might Owe Me Money? 

Yes, that’s right, if you are an Amazon FBA (Fulfillment by Amazon) seller, you are probably owed FBA reimbursement for Amazon mistakes in handling your inventory. Why didn’t you know this?  

Well, it’s not that Amazon is trying to hide its mistakes, it’s just that they don’t always let you know about their mistakes. If you assume you are receiving reimbursements automatically for corrections in overcharges and accounting errors, you aren’t always. Actually, Amazon expects you to keep track of its errors and file claims for FBA reimbursement. And if you don’t do this within an 18 month window from the time the error or overcharge occurs, the FBA reimbursement turns into lost money.  

How much money can you stand to lose? FBA reimbursements can amount to as much as 3% of your annual revenues. Do the math.  If your sales total about a hundred thousand dollars annually, that’s $3,000 left unclaimed. But whatever the amount is, it’s money that is rightfully owed reimbursement.  

Let’s take a look at this whole issue of Amazon FBA reimbursement and how you to ensure you get the money you are owed: 

  • What qualifies as Amazon FBA reimbursement 
  • How do I know that I can claim Reimbursement 
  • Where to submit claims for Reimbursements 
  • How to manage reimbursement  
  • GETIDA for FBA reimbursement 

What Qualifies for Amazon FBA Reimbursement  

There are a variety of situations that qualify for Amazon FBA reimbursement are: 

  • Lost Inventory. Inventory gets misplaced for any number of reasons, lost in the course of shipping, warehouse misfiling in another FBA seller’s inventory, or incorrect barcoding. 
  • Damaged Inventory. This is detailed in your Damaged Inventory Report in Seller Central. 
  • Returned Inventory. Customer returns that are improperly credited and/or not returned to inventory. 
  • Destroyed and Disposed Inventory. Amazon can choose to destroy or otherwise dispose of inventory it deems unusable, and they can do this without your permission. 
  • Amazon FBA Fee Overcharges. This happens when Amazon assigns inaccurately larger product measurements that result in higher storage fees.  

In some of these situations, though not all, Amazon is supposed to provide FBA reimbursement automatically. But it doesn’t always. Bottom line: It is your responsibility to determine if you are overcharged and provide proof in a claim filed with Amazon. Any claim for FBA reimbursement must be filed within 18 months of its occurrence.  

How Do I Know that I Can Claim Amazon FBA Reimbursement 

You have to regularly audit your shipping and inventory records to determine if you are owed FBA reimbursement. In addition, you need to file a claim to the appropriate Amazon department, otherwise the claim is rejected and you have to refile.  

Where to Submit Claims for Amazon FBA Reimbursement  

Potential FBA reimbursements are claimed under the following headings: 

  • Shipment to Amazon. Products damaged during shipping to Amazon warehouse.  
  • Fulfillment Center Operations. Items damaged, or destroyed at a fulfillment center. 
  • FBA Customer. Items damaged or lost during shipping to customers.  
  • Removal Claims. Problems when items are lost or damaged during delivery to your return shipping address. 

How to Manage FBA Reimbursement 

If you have more than a few SKUs, managing your reimbursements becomes a time consuming process that distracts from actually running your business. 

Assuming you don’t have the time to look for potential reimbursement, submit claims and follow up on those claims, there are a few options. 

Hire someone. The drawback here is finding someone who is familiar with the reimbursement process. You could train a new employee or hire a virtual assistant, but that works only if you are fully familiar with the FBA reimbursement process and you have the time to train someone. Plus you are adding salary to your overhead. An additional issue is one of trust; do you want a new hire to have access to your Amazon seller account? 

Either hiring an employee or a virtual assistant is better than letting Amazon keep your FBA reimbursement money. But there is a better way. 

GETIDA for FBA Reimbursement 

The best solution to get your reimbursement is GETIDA. Why? GETIDA specializes in Amazon FBA reimbursement and it’s free to try out. Plus they only charge you for reimbursements claims that are successful. 

GETIDA stands for GET Intelligent Data Analytics. It was started by highly successful Amazon sellers frustrated by the lack of an easy way to audit their reports and obtain appropriate FBA reimbursement. Once the software was developed, they hired a dedicated team with experience in Amazon reimbursement to file claims.  

They were so successful in recovering reimbursement claims, they established GETIDA to help other Amazon sellers to become the leading global  global solution provider in this highly specialized segment. 

Unlike other services that just analyze the data leaving you to file and follow-up on claims, GETIDA does both. GETIDA auditing software easily and clearly tracks your Amazon FBA inventory transactions, refunds, seller data analytics, and FBA reimbursements. A dedicated Amazon FBA experienced account team submits and follows up on your claims for as long as it takes to get you the money you are owed. 

Best of all, GETIDA is risk-free. There’s no charge to sign up, and there’s no charge to find errors that qualify for FBA reimbursement. GETIDA handles the entire claim process on your behalf. And GETIDA only charges a reasonable percentage of whatever claims obtain the reimbursement you are owed. 

To sign up for free at GETIDA,  go to the website and click the “Free Signup” button.  

There’s no obligation to proceed. If that weren’t enough incentive, you can get $400 in FREE FBA Reimbursements to try them out.  

If you’re asking if Amazon may owe you money with reimbursement, GETIDA can get you the answers that get your money back. 

Amazon Exit: Tips and Tricks for Sellers

Amazon
By AVASK
Date Updated:
Date Published:

Are you thinking about selling your Amazon business? We’ve compiled a list of helpful tips and recommendations for eCommerce sellers who are looking to successfully exit Amazon.

Read on!

How to Successfully Exit Amazon?

As capital keeps pouring into the Amazon marketplace, it proves its worth a serious endeavor. Aggregator companies acquiring successful brands on Amazon have raised over $13 billion in 2020.

Graph showing the cumulative capital raised by Amazon aggregators rising between 2020 and 2022

source: Marketplace Pulse

With that being said, selling an Amazon seller account can be a thrilling endeavor. 

It’s natural for any business owner to worry about a potential Amazon exit. But exit can be a positive experience, as long as you prepare well and know what to expect. If you’re just starting, it’s tempting to think about the profit you’ll be making. But you should also ask yourself how much work you want to put in before you begin, how much time you’re willing to put into it, and at what price you’re ready to sell your business.

Prepare Your Amazon Business’s Financial Statements

Prepare documented, timely, and accurate financial statements for your Amazon business: debt, revenue, and expense statements. Make sure that all of your financial paperwork is well-organized and quick for your buyer to navigate through. Pay close attention to the following:

  • Profit and Loss Statements
  • Accounts
  • Selling Expenses
  • Tax Return
  • Loans and Debts
  • Employee compensations.

When a buyer evaluates the value of a seller on Amazon FBA, they want to scrutinize all expenditures, savings, and investments, understanding the full scope of their business. It is recommended that you be prepared to provide all that info, including receipts, proof of purchase, and any other relevant materials.

Calculate the SDE

The seller’s discretionary earnings (SDE) is the most vital number for your Amazon exit, so take your time calculating it. This number determines the closing deal’s price – the sum for which you will be selling your business. SDE comprises net profit and add-backs – business owner expenditures that won’t be transferred to the new owner when the business is acquired. Generally, these are payouts to individuals who work for a company and are the owner’s relatives.

SDE calculation, EBITDA + Seller's income + Seller's benefits + Discretionary Expenses

Keep Your Business Running Smoothly

One sure way to sell your business profitably is to make sure your company is performing well. Prior to exit, pay close attention to sales, marketing, and management. Try reaching a wider audience. Some companies are using their production, sales, and distribution partners as part of an extended supply chain, leveraging the additional expertise from these partners to help ensure that it runs smoothly.

If you are looking to optimize your business operations and streamline your feedback loop, there are certain strategies that can help:

  • carefully examine elements such as your supply/demand to ensure that the process runs smoothly without obstacles or micromanagement;
  • review your brand and company values – they should align; 
  • make sure your marketing striving generate positive outcomes;
  • ensure that the business can operate without you monitoring it 24/7 – buyers usually aren’t willing to spend too much time organizing and managing a newly gained company in order to ensure its growth, as this is contrary to the intent of its purchase.

Increase the Value of Your Amazon FBA

You might consider that since you’re planning to exit, you don’t have to work on increasing your business’s profitability. Nevertheless, keep this in mind: the bigger the value of your business, the more you can charge for it. Buyers will be calculating the possible profit after the sale, so try to at least keep the near future in mind.

You can raise your business’s value in many ways:

  • diversify your portfolio;
  • invest in brand visibility/awareness;
  • try enhancing your Amazon Seller Rank;
  • facilitate your manufacturing process;
  • ensure beneficial supply contract conditions.

Pick the Right Time

In business, the now-and-next philosophy applies whenever there is a need to decide what you should be focusing on. Many executives wait until the moment is right, which leaves the possibility of losing out on opportunity and relevance. Business executives need to be able to trust their gut.

Timing is everything in all aspects of the business – a closed sale, a completed project, an exciting new initiative. The question is: are you keeping the momentum going? Are you taking the opportunity to plug your brand into the moment and show your customers what’s new?

Build a Reliable Supply Chain

The Amazon FBA business is all about supply and demand. Amazon relies heavily on its global logistics network to ensure its successful deliveries. This robust supply chain is the backbone of Amazon’s success and everything starts with a supplier. Amazon’s success has its authors in many aspects, but a key element for the greatest part is the reliability of the supply chain network, which guards the brand integrity at any cost.

Good relationships with your supplier and guarantee that the process is well-organized and reliable assures that you can complete your orders on time. Keep in mind the Amazon FBA limits are constantly changing. So maintaining close and trustful relationships with your supplier and 3PL storage is as crucial as it is.

Boost Your Margins and Discard Ineffective Products

Review your sales data and invoices regularly to find new ways of increasing revenues and sales. Maybe, you’ll find some products that aren’t performing as well as you expected. 

eCommerce sellers should have a strategy for triage. Discarded products have the chance to reduce your operating costs and increase your turnover. It’s easy to get caught up trying to push the product even when it doesn’t deliver the sales you need. If you’ve been trying to sell a certain product for months without any significant sales, it’s time to rethink your strategy.

Choose a Method for Selling Your Business

Selling your business can be a nerve-wracking process with myriad decisions and stressful hardships. One thing to avoid is the temptation to just park your seats with the first buyer that comes along. Make sure the buyer you choose is the right fit for you and your business. You need to be sure that it’s the best decision for your goals and for your business.

Choosing a method for selling your business can be tough. Consider the following most popular options:

  • Auction
  • Marketplace
  • Direct Sale
  • Broker

Final Word

Exiting an Amazon FBA business is a hard decision to make. What’s even harder is to do an Amazon exit profitably. So many variables need to be taken into account that there’s little room for error. Analyze your numbers carefully and try to maintain or better raise your profits – this way you will definitely have a chance for a beneficial deal. 

About the Author

This article has been written by the Profit Whales team. Profit Whales is a Full-service marketing agency for Amazon brands, that accelerates sales growth using on & off Amazon traffic to give them an edge over competitors and diversify the revenue streams while increasing the business evaluation.