How to sell product in best buy
How to Sell on Best Buy Marketplace in 2023: Guide to Making Millions on Bestbuy.com 🔶 E-CASH S2•E71
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do you want to know how to sell on best
buy marketplace
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then listen on
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welcome back folks to another edition of
the awesome sort of kiwi show how are
you today i hope you're all doing
fantastic i'm doing marvelous if you
ever ask me if you are doing as great as
i am go grab a cup of coffee or tea or
vodka and let's roll in today's
conversation i want to show you how to
sell on best buy marketplace it's very
important to understand that when we
speak about so today's show we have uh
here is this the skeleton you can see on
the screen so we have the overview i'm
going to explain to you how to set up an
account how to pick profitable products
how to stand out on best buy marketplace
how to grow on best buy marketplace how
to promote your your store and how to
get paid on the marketplace one thing i
have to say before i even start here is
that
the uh for strategic reasons
you have to set up the account with best
buy marketplace canada
however
you can still sell to clients in the
united states and canada in other words
best buy
us
doesn't have the operational backbone
they don't have the back office to take
care of that so they have actually
outsourced that to canada but
by registering on best buy marketplace
in canada you can sell to any country
actually but you you can focus on the
united you can have clients in the
united states and client in canada very
important to specify that so
best buy at a class so best buy really
when you think about best buy
you have here a multinational retailer
of consumer electronics home office
products entertainment software
appliances and related services right
and the company is located in richfield
minnesota and this company was founded
by richard schultz and and james wheeler
in 1966 as an audio specialty store
called sound of music okay and best buy
operates retail stores we all know that
they have also call centers and online
retail operations under various names
such as best buy
geek squad
magnolia audio video that's one of my
mother's favorite stores and pacific
sales
okay and as of july 1st uh 2021 the
company had about 1500 stores including
1200 stores in the united states and 300
stores internationally very soon very
pretty you know pretty impressive what
about best buy marketplace overview so
the best buy marketplace offers a huge
constellation not just best buy products
so think of it as a virtual shopping
mall that allows top-rated sellers to
offer their products through
bestbuy.ca so best buy canada but again
once you register on that marketplace
you can sell to u.s shoppers as well you
can you can actually uh sell to
customers who want to shop who wants to
who wants clean shipping and they want
to have a very clean return process okay
so uh the best buy marketplaces in north
america you have the u.s marketplace i'm
showing you on the screen right now
so you can have you can be a
merchandising partner a
non-merchandising partner or a carrier
and on the canada marketplace
there are several ways to do business
with best buy canada as you can see on
the screen so they have a whole
constellation of offers there
so let me just specify once again for
the rest of today's show we'll be
focusing on best buy canada marketplace
this marketplace feeds into all best buy
online and physical stores worldwide
including us-based stores so first for
strategic reasons best buy management
chose at the current time to locate its
marketplace at on canadian servers and
to let us and canadian applicants apply
for online seller spots on best buy
canada so the bottom line is that to
sell on best buy marketplace you'll be
applying through bestbuy.ca and your
products will be available to us and
canadian consumers as well as
international buyers
now let's talk about how to set up an
account so there are six steps that you
need to follow if you want you want to
have your products placed
on best buy marketplace this is
important to specify folks
and uh you want to start with the right
question this is something that we have
said before okay
and please be prepared to answer the the
right questions best buy is a huge
marketplace it is the behemoth when it
comes to their industry and you want to
be prepared to uh to change the pricing
to gender strategy as you go along you
also have to determine whether or not
the best buy marketplace is the right
online store for your product
okay so you can sign up online i'm
showing you right now on the screen
there is a series of
screenshots so to sign up online you
have the application form here the first
the first screenshot
or the s basic information right
and then they ask in the second
screenshot you can see so you put your
name your
your cd so the second screenshot you can
see here you put more information about
you here you put to your phone number
and you also have to put uh
where you're currently selling if you're
selling on walmart amazon ebay etsy
bonanza just put that and the third
screenshot here you have to mention also
what kind of products you want to sell
what kind of products you want to carry
on the
on best buy marketplace how many
products are quantity and that kind of
stuff and make sure that you also pay
attention to the upc very important
so you want to
choose the right upc
and we're showing you another screenshot
in terms of uh the uh
the process so here you have to you know
do you have a return address in canada
yes do you ship products from a
warehouse in canada no okay you can also
you can even put you can even put no you
don't have to have a returns address in
in canada you can have it in the states
but there are other ways to do that you
can you can do the drop you can use a
drop shipping strategy where you don't
handle anything everything is handled by
the fulfillment partner that you have
picked
you want to be prepared to provide more
information to the best buy marketplace
team because they're going to review
your because once you do everything you
have to click submit
and the best buy team will review your
application and contact you within seven
to 28 days
sometimes even earlier we'll see people
who actually were contacted
uh three days after they submitted their
application it depends on the work log
on the
on the uh
the workload they currently have okay so
once you got to be prepared to provide
more information to the best buy
marketplace team they will reach out to
you and ask more questions so pitch your
products to best buy know how to do it
you need to complete the required best
buy paperwork in case they ask it and
voila you need to anticipate the need
for increased volume
okay now if accepted you'll be given
access to the best buy marketplace
vendor dashboard
let's now talk about picking profitable
products
and because this is uh this is a very
important element right so
let's talk about selecting products keep
in mind that best buy marketplace is
primarily an online electronics store so
to know which products are profitable
you want to take a look at the best buy
top rated products
you want to see the left side on the
screen
shop by department
you want to see the left side of the
screen on the screen
you want to do online research through
google trains for example computers
if you have the budget use ecommerce
product sourcing and research tools and
here are some of the best software
programs based on our research and we
have reviewed some of those this
software tools on our show so you have
helium 10
you have seller app
you have amz scout
io scout
zone guru
unicorn smasher
amz base
and our research showed that the
following are some of the best high
margin products to sell on best buy
marketplace
so tv
stand mixer
apple airpods
fan
robot vacuum
toaster tablets
fitness tracker
noise canceling headphones
laptop
cordless vacuum
sound bar
single serve coffee maker
pressure cooker
portable charger
air fryer
runner watch
juice maker
and dash cam now
this is this list of course is not
exhaustive
our job was to give you an idea of what
could be profitable on the platform now
it's up to you to uh align our products
our selection to the geography you you
want to cover to the clientele you want
to cover to your own online uh your own
online sales strategy right but the
bottom line here is that you have to
pick products that are profitable
otherwise you'll be wasting a lot of
time resources and energy and remember
that
best buy marketplace is pretty pretty
pretty competitive
okay whether you are located in the
united states or canada or or elsewhere
this is a pretty competitive marketplace
because if you really think about it
best buy remains a behemoth in the
online
marketplace ecosystem in the united
states and even globally
okay so it's important
let's talk now about uh listing products
so i explained to you how to pick
profitable products now let's talk about
how to list products
now the listing product is very
important because if you have the right
products but you can't list it or you
don't list it properly it's not good so
listing products on best buy marketplace
happens on your vendor dashboard which
you'll have access to once you are
approved as a vendor
okay so
to uh a typical best buy marketplace
product listing process works out as
this so you record online store details
you choose a platform you put the name
of uh you choose a product rather so
first you record a online store details
so you choose which e-commerce platform
you have to get the product from you
choose a product you put the name
you decide on the price
you calculate shipping details
so you have to pay attention to things
like product dimensions the weight the
shipping cost local and shipping costs
abroad the estimated shipping time you
have to take pictures to highlight your
products right please make sure that you
use a plain background fine suitable
lighting use the highest quality camera
you can access
four you want to take photos from
several angles show off your products
features in at least one image and show
your product and use in at least one
image
you want to list potential keywords here
we're talking here now about seo right
it's very important to list your
products
properly so that it could be picked up
not only by
best buys internal algorithms but also
by google and bing and yahoo and so on
and so forth we're talking here
externally so you need to have an
endogenous strategy an internal strategy
and an exogenous aka external strategy
and you also want to analyze your
keywords select your main keyword based
on the kind of keyword you want to
target you want to create a product
listing you want to update your product
listing often okay you want to write a
product description that basically
aligns to the uh the product and this is
very important especially if you have a
product that is seasonal
right let's say a product that is uh is
very popular in the summer and then and
then in the spring or in the fall it
changes you need to adapt that
and one thing i also need to say is that
it's very important to set the price
always
best buy is very competitive for you to
stand out you have to do a lot of things
including having the best price
okay and also pay attention to your
shipping and delivery details very
important
so once you do all that you just need to
save
and uh
best buy will list your products as uh
you instructed them to do so
let me talk to you now about how to
stand out on best buy marketplace
do you wanna stand
out i bet you do right
everybody wants to stand out on best buy
marketplace or other marketplaces so
to stand out on best buy marketplaces on
best buy marketplace
there are a couple of things you need to
do and those things are related they are
co-related to what i just said in terms
of picking profitable products
first you got to pay attention to the
product description the text you put on
your product page matters a lot folks a
lot
and you have to understand that a lot of
customers
access best buy through the app
or through their mobile phone just that
they go to the website
so you got to think about that when you
when you write a product description
okay in other words you don't want to
write too much we're not writing a novel
here you're just giving folks
the most important elements they need to
know to be able to make a decision
you got to think about keyword
optimization i spoke earlier about the
importance of
pleasing
the algorithmic gods
not only on best buy marketplace but
also on google bing and other search
engines
you want to have customer focused
photography
because one way to improve an existing
listing and stand out a mark on best buy
is to
think about what picture will captivate
the attention of your audience or
potential audience or let's just say a
random
a random person browsing the the web
or browsing the platform
make sure that you also think about
oversized items because those according
to research can expand your sales
in ways you have never considered
and make sure that you constantly uh
maintain
meaningful product reviews and accurate
seller seller
this will help you a lot this will help
you definitely a lot okay and uh as best
buy continues to grow the number of
items listed and sold on the marketplace
will continue to rapidly increase that's
for sure okay so as a brand you want to
make sure your products aren't really
drowned out in the sea of goods and
competitors
okay so you want to create a detailed
product listing so that you can convert
views to sales and when you do all these
things
you will start noticing two important
things
you will start getting noticed on best
buy by the internal algorithmic god
and you may qualify for two very
important spots on the platform
number one top deals
and number two deal of the day
so deal of the day can shoot up your
sales like crazy folks according to
research you can see 10x 10 times
visibility and 4x 4 times revenue growth
after being featured on the deal of the
day page that's insane growth
i'll be right back right after this
don't go anywhere
welcome back folks to another session of
the awesome sweetie kiwi show we are
still having a conversation about how to
sell on best buy marketplace let me talk
to you now about how to grow on on the
marketplace there are a lot of things
you can do if you want to uh to grow on
the platform if you want to uh you
have to again go back so once you have
been on the platform for a while let's
just six six months one year you're
getting some traction you're getting
some sales
the algorithm knows you the algorithm
has categorized you they know which kind
of products
to that you're good at you're good at
selling so they can recommend uh
your products to other um other
potential customers
this is pretty good now there is a
constellation of specific activities you
need to undertake if you want to grow on
best buy marketplace
first you need to optimize again going
back to what i said earlier you have to
constantly optimize for best buy search
so i'm talking about internal seos make
sure your images are
of high quality you want to do thorough
research keyword research you want to
include
relevant keywords in your copy
strategically you want to offer a wide
selection and you want to compare the
prices to those of your competitors to
make sure yours aren't yours are
reasonable you want to provide stellar
customer service you want to offer
outstanding deals and loyalty discounts
this is important
you want us you want to systematically
seek buyer reviews those will help you a
lot
you also want to get expert reviews so
what one thing you could do is uh you
know and don't be don't be ashamed don't
be shy here right it's it's all about
business you want to seek expert reviews
you want to reach out to experts
journalists professional reviewers and
other influencers in your niche and you
want to ask them to review your products
because guess what
independent reviews of your products
will boost both your store and products
in the long run and that's what that's
what we want right you also want to
participate in the vendor direct
fulfillment program
so as as a vendor participating in that
vdf program you will benefit from
additional sales in current categories
as well as new categories outside the
traditional consumer electronic products
not previously sold by best buy
so the exposure provider is enormous
folks enormous
so
the and the thing here is that you can
you actually have an inventory owned by
a vendor
fulfillment conducted by vendor and
fulfillment paid by vendor and we
basically
would we would
suggest that you go with the vendor
direct fulfillment program so you just
outsource everything to best buy whether
it is in canada or in the states
okay and uh
this is kind of important again like i
said it doesn't matter whether you live
in the states or canada they cover the
whole the the they cover both countries
now there is a cost
that oscillates between 40 bucks and 100
bucks
to be set up as uh
as um
as a vendor on the platform but that's
manageable you can quickly amortize that
not a problem
let's now talk about promotion here how
do you spread the word how do you
promote your best buy marketplace story
there are a couple of couple of ways you
can do this i've spoken to you earlier
about
the exogenous strategy versus endogenous
right external versus internal
now when we talk about uh when we talk
about external
you are
you can think about social media right
youtube
facebook instagram depending upon the
niche you're in and the kind of products
you're you're selling and the kind of
geography you cover
so you can create ads and you can
connect with influencers to spread
awareness of your best buy products and
link back to your listings on social
media
think about seo and you also think you
need to think about getting backlinks
you can also do internal promotion
you want to please
the best buy algorithmic guard so
optimize your listings for with seo you
can buy sponsored product ads on best
buy or partner
platforms you can share your listings on
social media
and you for example you we've seen a lot
of people using a social media promo
code
so that they can actually draw traffic
back to their best buy um store
you okay you can host a context or
giveaway
you can even spy on your competitors
right
it's all cool it's uh legal it's legit
everybody does it right so you want to
run competitor analysis so you want to
check things like you just want to know
what your competitors are up to
especially those those that are
better than you you want to really
really you want to you want to ape
their strategy and see exactly what's
happening
and it's fair game right if they're if
they're better than you they must be
doing something that you don't know
about so it's just better to emulate
their tactics all right so you want to
pay attention to things like price
images text that kind of stuff you can
also partner with influencers
that's pretty cool too again just make
sure the whole thing about influencers
is that you got to make sure there is a
complete alignment
with your story
and influencers and you want to have
influencers who are quote unquote mature
i'm not saying there's anything wrong
with uh some influencers but the thing
is
if you have an influencer that changes
who changes his or her mind all the time
that's really bad for your business you
want to have an influencer who is mature
in terms of
he's a her business model is surrounded
by a team
has consistency in his or her business
model that kind of stuff
if you want to promote
your best buy marketplace store
you've got to maintain strong product
ratings i don't care
i don't care how many millions of
dollars you put into
ads google ads or best buy ads but if
your products don't have a strong
ratings
all this money all this cash all this
kachinka chicka ching is just wasted
honestly this is the brutal honest
honesty here so you want to describe
your item exactly as it is in your
listing provide excellent customer
service you want to reach out to
disappointed buyers every negative
review must be replied to you want to
reply systematically to all reviews
including or more
especially those that are adverse to
your product or a store
okay maintain strong shipping
performance this is very important you
can use best buy fba as i told you
before you want you want to regularly
check your shipping performance metrics
you want to use inventory management
software
and you also want to monitor your seller
rating because this is important your
seller rating is a quintessential
criterion when it comes to engaging
whether or not you are successful on the
platform that's just as simple this is
just what it is
okay so you want to be prompt in
customer service you want to determine
whether negative feedback could be
removed
and every now and then you want to
launch occasional deals and promo
campaigns those could be very helpful
too
all right
so this is important to remember and one
thing i want to say here is that when we
speak about
maintaining strong shipping performance
i'm not saying just uh
shipping the product to the customer
no you got to take care of the the
returns if a customer is not happy
with the product they bought from you on
best buy marketplace what is your
strategy in terms of returns management
this is this is critical
because customers will always remember
how you treated them
when they were not happy with your
products so have that in mind and best
buy and best buy has
a constellation of policies and
procedures in place whereby merchants
must take care of the customers the
customer is a queen or king as they say
and this is
this cannot be truer
more true on best buy marketplace
i want to talk to you now about uh
getting paid on best buy marketplace so
best buys um preferred uh payment method
is wire transfer
okay this is something that they love
but they also pay via checks and western
union remits
if you are in the united states and you
don't have access to checking account
this could be a great opportunity for
you so depending on the merchant setup
that you get approved for
you can get paid weekly
every two weeks or a monthly
so to set up your payment information
you want to go to your vendor account to
your vendor dashboard
you want to click account settings and
payment information
and there you want to enter the
following three pieces of information
your bank account
your bank's name
and the bank's routing number
and if you are if you are a business if
this is a business bank account you need
to uh indicate that whether this is a
personal this is an individual bank
account or a business bank account
okay and we're showing you on the screen
right now some important email addresses
that you need to remember
so if you have a debit balance inquiry
you can email this address if if you
have a non-merchandise invoice payment
or questions
another here is the the email if you
have an inquiry regarding western union
or check remits
if you have a log nvf deduction copies
or questions
if you have a consignment inquiry
if you have a post audit inquiry
if you have inquiries not about
accounting or shipments
so here you have all the most important
all the most important
numbers right or email addresses
so this is pretty much it
all right folks
this was it for today's conversation i
really appreciated uh having you around
i was talking to you about um
best buy marketplace how to set up an
account how to pick profitable products
how to stand out on the marketplace how
to grow on the marketplace how to
promote your products and how to get
paid on the marketplace
thank you so much for your attention i
really appreciate it i will see you next
time but until then remember stay
marvelous
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you