Speaker Spotlight: Tiffany Lopez
The world of online retail is constantly evolving, but helping businesses adapt and thrive in the online retail world is what Tiffany Lopez of Posh, Inc is all about.
As a veteran online retailer herself, Tiffany jumped head first into the world of online retail over a decade ago. Now, she’s leveraging her expertise in protecting brands and increasing sales on third-party platforms like Amazon with clients the world over.
Posh, Inc specializes in working with brands so that they can sell on Amazon in a way that builds their brand – not destroys it. Tiffany helps these businesses create smart strategies to build their own brand stores, work intelligently with third-party sellers, and take advantage on the Amazon ecosystem so that they don’t fall into the trap of price wars.
Tiffany will be heading out to the Gold Coast this May to present some of her top strategies at our Retail Global conference. Until then, she’s sharing these tips with online retailers to increase sales, streamline their processes, and expand their business.
Tiffany’s Top Tips for Online Retailers
1. Integrate with Amazon
Whether you’re using Shopify, Magento or another eCommerce platform, your online store needs to integrate with Amazon. Beyond simplifying your Amazon sales, making the decision to invest in integration pays huge dividends.
Tiffany’s clients have found that they reduce warehousing costs like rents, labour, and inventory management by using Amazon’s inventory management tools. And her customers save big on Amazon commission fees, too – putting as much as 15% of their sales back into their accounts. Tiffany advocates sending your customers to your website to reinforce your brand, but to use tools like Fulfillment by Amazon (FBA) to streamline your process and keep more of your profits.
2. Create Standard Operating Procedures
One of the great things about online retail is that you can find your business expanding rapidly. But that can come with its own headaches. That’s why Tiffany strongly urges businesses to start building their own internal processes from day one.
For some businesses, that might mean a simple Google Doc folder filled with procedures like customer relationship guidelines or how to file taxes. For others, it could be as elaborate as a series of training videos. Whether you’re a one-man shop or an international store, though, these SOP play an important role in the success of your business. They act like training materials for new hires and allow you to easily create a handover document for when you take some much-needed R&R (or head to Retail Global Gold Coast to invest in yourself). So if you don’t already have all your references materials organized, block a couple of hours out in the coming month to gather everything together. It’ll save time in the future for you and your employees.
3. Invest in Yourself
In her decade of experience, Tiffany has seen the same story play out again and again. A retailer will start out willing to try anything, eager to do whatever it takes to succeed. When they find that winning strategy, though, they stop experimenting. But this mindset doesn’t account for the marketplace, which is always, always evolving.
That’s why continuing to learn is so important for retailers of all sizes. With the constantly-evolving ways customers shop, to the emergence of new tools and platforms online, a stagnant business is a losing business. Tiffany recommends that every online retailer spend the time on a daily, weekly, or yearly basis to continue learning. That can mean something as small as subscribing to a useful newsletter or attending a conference. Networking with other online retailers, she’s found, is especially helpful to established businesses because it offers you the ability to learn how other successful businesses are using tools that might be new or familiar.
If you’d like to learn more about Tiffany Lopez or Posh, Inc, you can connect on Twitter, LinkedIn, Facebook, or by visiting Posh, Inc’s website. Attendees at Retail Global Gold Coast this year will also be able to attend her session, where she’ll be sharing even more of her knowledge. Tickets are still available (and at pre-show savings!), so it’s not too late to secure your spot. Find out more about the conference, the speakers, and the sessions at RetailGlobal.com.au.