Tegridy Glass Our
Answers to Problems.
Marketplace problems and our answers
We are a social online marketplace for smoke shops, now what that means is we want the customer to be able to be able to shop anything he wants from any smoke shop on any internet device theoretically. When people look at what we do they want to compare us to the big name in marketplaces like Amazon, Etsy, eBay. Not just the fact that these other third-party systems do not allow “tobacco glass” and we specialize in only smoke shops for selling online. But we believe in the ideals of the culture and have the set everything we do as a company in tailoring it for the community and solving the marketplace problems.
The problems that our partners face and will face we take as our problems to face as well. When it comes to reaching you to customer acquisition to analytics, the right amount of automation, branding, and customer connections. To try and be transparent this will go over the problems faced that third-parties normally create. What we think we stand up against these problems, while going in-depth on the points we talked about.
Marketplace problem in increase your cost of production
Third-party intermediaries charge at least 10-20% as commission for displaying the vendor’s products on their platforms. Be it Amazon, Ali Express, eBay, or any other medium-size vendor, commission charges against the traffic the parent company’s platform generates. This increases your actual cost of production of the product or the service, which means it is not the best way of selling products online. Therefore, finding a customer through your own selling point is smart to increase your revenue by selling the same number of units.
On Tegridy Glass the percentage we take is 7% which covers the high card processing charge our industry deals with as well as cover printing shipping labels which is 2-5 dollars on average. It is pivotal that each of our partners are making enough to make up for it we know their is other avenues of doing business. Being better than any other way to do it is what we strive for we spend a great amount on consistently trying to acquire new customers through online and offline channels. Organizing our email list of subscribers into segments of where they live and giving them the most useful information to them is time consuming and costly. If you become a featured vendor we will promote you to your area through the avenues talked about before. We are not here to screw over any small business or only out for our own profits and will be working n more ways to make up for the small percentage we take per sale.
Marketplace problem hard to establish brand loyalty
Brand loyalty is the customer making repeat purchases with the same company even when their is competition and alternatives. This is something that is easy when you are the only type of store in your area. When you take it to an online marketplace like Amazon where they have 100 million prime members and 300,000 sellers it becomes much harder to keep them coming back. The online Marketplace dose not seem like a brand loyalty producing place. No way to make a loyalty program for just your business on them and there is always something new in front of the customer. These third-party marketplaces display several vendors with product specification and price comparisons. Customer is filled with enormous information and fancy pictures that lead to lower brand identification and ultimately, brand loyalty.
When it comes to making brand loyalty there is more than just being the only product in their face. Bannersnack blog wrote about 8 ways to boost brand loyalty all of which can still be done while on our marketplace. Forbes also has a good look into how consumers really believe in brand loyalty and what drives it from their perspective. We do see how brand loyalty can be taken away from but that is what will happen with more competition. With even more customers a good business is sure to make money through a marketplace. Below is examples of how to improve brand loyalty on your side and below that is what we have already implemented to help in this category.
How store owners can help with brand loyalty.
There are many ways to still have to keep or build a brand identity and in return loyalty off third part systems in this industry. Social medias any ones that best suits the main demographic of your local audience is a great for posting deals, inventory interactive post, events, and news. This is how every brand out there is using to connect to customers in plenty of ways from touching hearts like Patagonia going off their mission statement or how Wendy’s is hilarious on twitter.
With my former experience working at a Kava bar where we sold glass and CBD products I learned over time that being Courtois, friendly and informative to knew customers drastically increased the chance they will come back. Having great interactions with customers even on the micro scale to giving an in-depth descriptions on everything around the product is great in this industry as many customers lack the information going into it.
Product layout over looked plenty of times in setting up smoke shops but when done correctly boost conversion rate and increases purchase total. There is no one layout best for every scenario it is something to see what you are working with, where it is, and what products. We go over different store layouts separately and go over a few examples but originality is always fun and appreciated when done right.
When we did our first survey we asked 300 people what was their favorite store and 287 of them said names of stores that had painted walls or a theme through out the store. Statistics to prove the point this are non existent but from this sample size it can be taken as a good way to get brand loyalty with out having to manually keep doing a lot.
How we can help store owners with brand loyalty.
Keeping the brand and originality off each store is important we agree and we have features to help that happen. From hen a customer goes to the store page they are given a map and filter for how many miles away from them they use to find shops. This is different than other marketplaces helping keeping the competition as same a google maps does. While on that page still they can see what stores are open there name, Address, and phone number. They can also see an image and icon all to help establish themselves to the customer in the crucial first seconds of introduction. Customers can follow any store too to easily find them and get notifications on the business.
Inside the store page there is a bigger version of the icon and picture along with the information on the store their bio an reviews. It is easy to navigate through the pages products and categories so customers can find what they want from a specific shop. Links to the stores social medias are easily visible so customers can find them and follow their brand. Customers can easily contact the vendor on the same page for easy hassle free communication to answer any customer need.
The Community aspect is one of the ways we help each shop grow their brand recognition. Customers go to the community to stay intoned about smoke shops kava bars and vape lounges. They want to know what events and deals are going on, what stores have in-stock and information stores can give on the product. It is easy to follow an individual store or follow a group which is a combination of stores in zoned areas. This allows it easy for the customer to not have to do any searching for themselves but have the shops and what they have to offer right in front of them. Utilizing this part will grow your brand recognition and loyalty and keep customers coming back no matter the coemption.
Marketplace problem with automation and losing out on customer information.
When it comes to automation we are talking about everything that happens done by the database. With what it put’s in front of customers face using SEOs tactics the same way for the products. Consumers are exposed to different kinds of information that are provided by the vendors. Your product can easily get lost in the stream of identical products with the same pricing strategy. Sometimes, the fancy wording used by other vendors can challenge your product’s integrity and authenticity. The problem from automation can also come in from inventory overload, returns, and data security.
Customer information is necessary in growing to max potential. Knowing what the customer does while they are on the site is important. Getting the right KPIs and extracting the information they have. Direct feedback and data are two of the most valuable aspects of DTC sales, Marketplace Pulse Founder Joe Kaziukėnas points out. “It is the two-way feedback loop which makes those brands work. It is also the frequency and speed of interactions with actual consumers, which make them nimble.” It becomes much harder to know what the next move when you only have the basic perception of what is selling and was is not but getting data to make the next move.
How we can help with automation and information.
Automation is important to keeping a marketplace running smoothly. we use automation for ways to make it easier. Order confirmations, live shipping rates, automated labels. Shipping from your place to the customer is just pressing 3 buttons to get label with correct information request a pickup from the shipping carrier and to automatically inform customer of the pickup. We also know working in this section of the industry their are a lot of low quantity stocks of products. There is an easy way to put in the total quantity and even a threshold to keep it from going below online. The customers can not buy more than what is in stock so none of our partners have to worry about quickly getting more.
Returns are something we do take seriously wanting customers to be happy with the product they received is one thing but we want to show trust-ability throughout our website. Which means not having misinformation or pictures of the products. As long as you post correctly and describe it correctly there should be no problem. The process is simple though they will click the return button in the 30 days after purchase and pick a reason why. This will message our partner who sold the product and they will talk to the customer about it. If they agree on returning it we will send them a return label where they will pay for shipping and we will give money back to both sides. So customer pays for shipping and or partner does not pay for anything.
Getting all our partners to their max potential is the goal for each sign up we get. Our whole strategy is about acquiring vendors in a specific are after we learn it’s demographic and attack the avenues of customer acquisition for that area. Getting the correct information to each of our vendors will always be under improvement and scrutiny as the correct answer will not always be the same. First off we give each vendor all of Google analytics for their shop so they can see the KPIs of their own shop. With the information each of our partners can do what they want with it. We also have our own data analytics tools that come very detailed where we will break them down into digestible information for what works, what dose not and what else we see to help improve. Being a marketplace dedicated to a niche we will have an ultimate amount of statistics to look at and organize for our partners to do what they want to do with.
Being a marketplace built around a niche a lot of the problems you get from marketplaces become less of a problem with the features we utilize. With us you get a dedicated team to customer acquisition and promoting your best work to the customers in your area. Built in features to promote Business branding and keeping customer loyalty. We also have our side company that will help with the whole process of being on Tegridy Glass pictures, posting, answering questions and more. This team can also help with all of the other ways not involving our website for brand loyalty where we take all the statistics we let you use in google analytics. Our statistics and reports on them to give you the best chance in making more sales. Our automation has been broken down into being used only for the best benefits for our partners. We believe in giving the power of big business to small business and we will keep improving for our partners benefits.