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Zappos - Global Retailing Conference - 04-10-08
- 1. Top 10 Lessons Learned in E-Commerce Tony Hsieh CEO Global Retailing Conference April 10, 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 % customers who buy again within next 12 months (repeat customers) avg # purchases by repeat customers over next 12 months % repeat customers multipled by avg # purchases March 2001 20.4% 1.50 0.31 March 2002 27.0% 1.74 0.47 March 2003 33.5% 1.96 0.66 March 2004 44.6% 2.36 1.05 March 2005 51.0% 2.53 1.29 March 2006 51.3% 2.66 1.37
- 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...