Payoneer Beyond Conference: A Recap of the First Virtual, Borderless Conference for Marketplace Sellers
The Payoneer Beyond Conference was a day long virtual event that brought together some of the world’s leading eCommerce experts to discuss the state of the industry amidst the COVID-19 pandemic. With more than 20 speakers, including from Walmart, Fruugo and Deliverr, and 15 exhibitors, conference attendees got a chance to learn about a variety of topics in the eCommerce sphere, including product sourcing, supply chain diversification and virtual assistants.
Here, we’ll be giving a brief recap of the different conference panels and discussions, including the main points each speaker addressed. To view all of the sessions click below!
Growing a Global Brand with Payoneer – TJ Hyland, Payoneer
We kicked off the Beyond conference with a talk from our very own TJ Hyland, Payoneer’s Head of Partnerships in the US, who discussed the growth in cross-border eCommerce and the opportunities presented to sellers who take their business global, even during the era of COVID-19. Additionally, Hyland covered the many ways Payoneer can help you with your business expansion, including:
- Working capital – Payoneer’s working capital solution provides you with the funds you need to take your business into new markets, increase marketing efforts, order additional inventory and much more.
- International receiving accounts – Payoneer’s receiving accounts enable you to receive payments from marketplaces and businesses worldwide in local currencies. The funds can then be quickly transferred to your Payoneer account and withdrawn in your local currency.
- VAT payments – Payoneer’s VAT payment service allows you to pay VAT authorities in the EU and UK for free, directly from your Payoneer account.
How to Find Product and Keyword Opportunity in 2020 – Bradley Sutton, Helium 10
Bradley Sutton, Director of Training and Customer Success at Helium 10, gave an interesting talk on product and keyword research best practices. While many new sellers work under the assumption that most eCommerce markets are oversaturated in 2020, Sutton went into detail as to why that isn’t the case. He outlined the best ways for sellers to approach expanding into new product lines, including:
- Flying under the radar – To avoid competing with other sellers over the most popular products, Sutton recommends finding 5-10 product types that sell consistently, but aren’t the hottest thing on the market.
- Effective keyword searches – Sutton detailed how the Helium 10 keyword research tool Cerebro can be used to research keywords that are connected to a specific product, helping sellers to better optimize their product pages.
- Researching keyword demand – Knowing which keywords are the most searched is an effective way to gauge product demand. Sutton describes how this can be done using Helium 10.
How to Successfully Diversify Manufacturing Beyond China – Nathan Resnick, Sourcify
Nathan Resnick, CEO and Cofounder of Sourcify gave an in-depth presentation covering supply chain diversification and the importance of expanding your product manufacturing beyond China. In addition, Resnick touched on which quality control standards to follow and the individual countries that are best suited to manufacture different products. Specific points included:
- Reasons for diversifying – Resnick highlighted the impact of COVID-19 on the Chinese manufacturing industry and how diversifying your supply chains can help reduce risk, experience native production environments and mitigate your reliance on raw materials.
- Pros and cons for different countries – Different countries, including Vietnam, India and the US, are more suited to manufacturing different products. Resnick explained why.
- Manufacturing outside of China case studies – Resnick dove into specific case studies of companies that chose to move their manufacturing outside of China.
Mastering the Art of UK & EU Expansion – TJ Hyland, Payoneer; Phil Booker, Fruugo; Romain Roy, Rakuten France; Melanie V Shabangu, AVASK; Lyden Smithers, Titan Network
Our first panel discussion of the day brought together representatives from, Payoneer, Fruugo, Rakuten, AVASK and Titan Network to discuss the ins and outs of expanding your cross-border eCommerce business beyond the US. Specific points included:
- Marketplace research – The panel discussed how, before expanding into new geographies, it’s important to properly research which marketplaces you should be selling on.
- Regulations – Every new market you expand to is likely to have their own set of taxes, regulations and fulfillment demands.
- Managing further expansion – This part of the panel discussion was devoted to how, once you’ve taken your business to a new geography, you can expand further and truly go global.
Walmart vs. Amazon: Platform-Specific Keys to Success Using Sponsored Products – Jason Magee, Teikametrics
Jason Magee, Director of Business Development at Teikametrics, took a deep dive into the importance of differentiating your tactics and strategies when it comes to Amazon and Walmart sponsored products. He detailed best practices for performance measurement and optimization to match your larger product goals for each marketplace. In addition, he went over the common pitfalls that can lead to wasted ad spend or missed opportunities.
5 Secrets That Separate the Most Profitable Sellers from Everyone Else: How to Thrive in a Weird Market – Tyler Jefcoat, Seller Accountant
Tyler Jefcoat, Founder and CEO at Seller Accountant gave an in-depth talk detailing his five secrets that separate the most profitable cross-border sellers from everyone else. While the current supply chain issues and economic lockdowns will slowly end over the next year, certain aspects of eCommerce are changing forever, and it has never been more critical to build a profitable business. For Jefcoat, this means:
- Maintaining visibility when it comes to your profits/losses and your monthly sales.
- Focusing on your business model, logistics strengths and funding model.
- Grading all your SKUs.
- Managing your cash flow and cost of capital proactively.
- Maintaining perspective, especially during the era of COVID-19.
COVID 19 and Its Impact on Retail Marketplace Expansion: Challenges and Opportunities – Irina Marciano, Payoneer; Dan Farmer, Walmart Canada; Michael Krakaris, Deliverr; Brandon Fuhrmann, AMZ Innovate
The second panel of the day consisted of representatives from Payoneer, Walmart, Deliverr and AMZ Innovate who discussed the challenges and opportunities presented by the COVID-19 pandemic when it comes to marketplace expansion. Specific points included:
- Agility – Amidst a constantly changing environment, with consumer preferences swinging wildly, it’s critical for sellers to remain agile and adapt to new trends.
- Redundancy – When it comes to securing your business’s future, redundancy is key. This means working with as many vendors and logistics providers as possible while selling on multiple marketplaces worldwide.
- Digital strategy – If the COVID-19 pandemic has taught us one thing, it’s that eCommerce’s upward trend is here to stay. For SMBs and enterprises, this means that now is the time to refine your digital strategy to fully take advantage of online sales.
Outsourcing: The eCommerce Strategy No One is Talking About – Ian Hubbard, Payoneer; Fernando Cruz, Pixelfy; Nathan Hirsch, OutsourceSchool; Ravi Abuvala, Scaling with Systems
The third panel of the day brought together representatives from Payoneer, Pixelfy, OutsourceSchool and Scaling with Systems to discuss the benefits of outsourcing specific tasks, e.g., customer service, to virtual assistants in order to sale up businesses. Specific points included:
- Advantages of hiring remote workers – One of the main advantages to hiring remote workers is the flexibility it offers, especially for new businesses who might not have enough capital to invest in full time, local employees.
- Maintaining a strong work culture using virtual assistants – When it comes to maintaining a strong work culture, hiring a strong manager who can effectively manage your remote team is critical.
- The best places to source remote workers – When it comes sourcing your remote workers, the experts highlighted three places: Your personal network, freelancer marketplaces (e.g., Upwork) and virtual assistant placement agencies. While sourcing from your personal network is free, there are no guarantees that your hire will be effective. When possible, use a marketplace or agency to find qualified remote employees.
Building Opportunities with the Expected Growth in LATAM’s eCommerce Market – Mar Fernandez, Payoneer; Alejandro McKelligan, Linio; Juan Sebastian Gonzalez Galeano, Grupo Éxito; Sagiv Poplinger, buySPRY.com
The last panel of the day was devoted to the challenges cross-border sellers face when expanding their businesses in Latin America. Representatives from Linio, Grupo Exito and buySPRY.com came together to discuss how LATAM is rapidly growing eCommerce market and the best ways sellers can take advantage of this opportunity to build up their businesses. Specific points included:
- COVID-19’s impact on LATAM eCommerce – Product categories across the board have seen massive sales spikes in the time since the COVID-19 pandemic hit Latin America.
- LATAM consumer preference changes – Certain categories, including home computers that are being used for remote learning and home offices, have been outperforming traditionally strong categories, such as mobile devices.
- Logistics challenges in LATAM – The main logistics challenges in LATAM include customs, shipping and carriers, making it critical to locate trustworthy partners to help facilitate your business expansion.
I’ve Sourced More Than 2,500 Products from China: Here’s What Works in 2020 – Kian Golzari, Sourcing with Kian
Our last discussion of the day was given by Kian Golzari of Sourcing with Kian, who discussed the best ways to source products from China. Specifically, Golzari addressed how to navigate the Chinese market in the aftermath of the COVID-19 pandemic, the specific questions you should ask to get the best results, how to negotiate the best prices and how to build lasting relationships with your manufacturers.
Ready to see all of the sessions in their entirety? Click below!