Secret Academy Episode - Mike DashAs the e-commerce industry has continued to evolve, the dropship model has brought in several smaller players such as Michael Dash, President of CarPartKings.com, a New York-based, auto parts online retail business. His company gives businesses and manufacturers the opportunity to take their sales online and distribute nationally and internationally. Built on the dropship model, the business doesn’t hold any physical stock, but lists 500,000 SKUs on its website with 2.5 billion fitment options, and sells to over 140 countries. With only 14 staff members spread across 8 different countries, Michael grew CarPartKings.com’s revenue by selling in the easiest way possible - through marketplaces like eBay, Amazon, Sears, and others, to the tune of more than $8 million dollars in only three years. He also co-founded Cooper Square Ventures (CSV), which has been the launchpad for several successful e-commerce businesses as well as an SaaS venture. With a solid customer base and an inbound marketing strategy, Michael plans to scale his company by further growing the product base, attracting higher conversions and pursuing excellent customer service.
- Picking the right auto parts to sell
- Setting up the right pricing
- Positioning the right sale
- Why it’s easier to get your product sold through online marketplaces like Amazon and Ebay
- Hhow they converted customers from online marketplaces to direct sales
- Why car parts are one of the hardest things to sell online because of fitments
- Why the more attributes and data you have on a product, the better chance you have of selling your product over a competitor’s
- Why they don’t do inventory, they distribute via drop shipping
- The three most important things you need to get and maintain when selling online
- How he’s used research and data analysis to go after new verticals
- The reason you need to market offline to sell online
- Why you should never underestimate the importance of your catalog when selling online
- Whether margins are bigger on new products vs. known products
- Using an effective CRM system and why it’s essential
