Challenges
One of the main challenges Seiki faced was how to raise their brand awareness effectively and eventually be recognized as one of the key players in the consumer electronics industry. Their value proposition centers on delivering high quality digital entertainment products with all the essentials and without the costly extras.
Partnership & Growth
To reach the masses, Seiki inked a partnership with Newegg Marketplace. They looked to leverage Newegg’s expertise and take advantage of their massive following. “Our approach to Newegg Marketplace builds on the philosophy of simplicity. We want to offer a streamlined online shopping experience by making our products more accessible at a great price without all the hidden costs. With over 30 million loyal customers and being renowned as the marketplace for everything tech, they proved to be the most effective outlet among other online marketplaces,” says Sung Choi, Seiki’s Vice President of Sales and Marketing.
“They wasted no time getting our products in front of their customer base. Unlike other online marketplaces, their onboarding process was extremely hands on. We had the attention of online selling experts who guided every step of the way ensuring Seiki was setup to sell more effectively. The setup included an official Seiki Store and a promotional and pricing feedback designed to offer us insights so we could better serve the customers. Newegg Marketplace’s marketing team likewise embraced Sung’s simplistic philosophy with regards to developing a marketing strategy. The strategy focused on creating engaging content beyond just the product listing in order to capture incremental sales while educating consumers on who Seiki is. The results speak for themselves.
Sung shares, “Seiki’s ecommerce growth is attributed to how they utilized their marketing channels’ reach effectively. Whether they were promoting the product on homepage vehicles or through dedicated promotional email blasts, they were instrumental in reducing our aging inventory, resulting in increased sales and reduced operational costs. In addition, one of the most valuable tools made available to us was Seller Portal. With the portal we kept detailed inventory counts and met ongoing demands for our products without the risk of overstocking. In the end, these promotional opportunities and analytical tools took our business to another level quickly. Because shoppers started to engage with our content and shop for our products more frequently our customer following grew rapidly. By the time Black Friday and other selling holidays rolled around, new products converted at higher rates than we expected.”
“The tech industry is highly competitive with many brands vying for consumer mindshare. At the same time, the industry is seeing an overall decrease in the number of quality opportunities to showcase brands and sell products. Since joining Newegg Marketplace, we grew our sales rapidly at a cost more manageable than selling directly to retailers. The tools afforded to us gave us consumer insights we’ve never had access to before. By having this access we have more control over what products we sell and how we sell them,” Sung says. Seiki is one of the thousands of sellers thriving since joining Newegg Marketplace.
