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Etsy Presentation
- 1. Operations Plan by
- 5. Mission “ To enable people to make living making things, and to reconnect makers with buyers.”
- 6. LOGISTICS OF THE BUSINESS Search Engine & Marketing Search engine & Marketing Seller Sign Up Set Up Shipping Virtual Shop Buyer Sign Up Search Buy Receive Feedback
- 7. LOGISTICS OF THE BUSINESS Search Engine & Marketing Search engine & Marketing Search engine & Marketing Seller Seller Sign Up Sign Up Set Up Set Up Shipping Shipping Virtual Shop Virtual Shop Buyer Buyer Sign Up Sign Up Search Search Buy Buy Receive Receive Feedback Feedback
- 8. CORPORATE STRATEGY Current Objective In 2010 Annual Revenue: $30 million Annual Number of U.S. Customers: 2.2 million a mon Average Dollar Sale: $18.26 per purchase
- 9. CORPORATE STRATEGY Vision “Right now it is far more important to build engagements than build profits. We are focused on the long-term. There is a huge opportunity to reinvent what commerce means as native to the web, that is our goal and we mean to pull it off in the next 12 to 18 months.” Etsy CEO Robert Kalin Interview by TechCrunch June 29, 2010
- 10. CORPORATE STRATEGY Customer Service Engagement
- 11. CORPORATE STRATEGY Engagement
- 13. CORPORATE STRATEGY Customer Service Department Etsy Pop-Ups
- 14. BACKGROUND Trend U.S. Online Retail Sales Will Reach $248.7 Billion by 2014 % of Total 6% 7% 7% 7% 8% U.S. Retail Sales
- 15. BACKGROUND Trend U.S. Online Retail Sales Will Reach $248.7 Billion by 2014 $248.7 % of Total 6% 7% 7% 7% 8% 8% U.S. Retail Sales
- 16. BACKGROUND Customer Etsy Unique Visitors 5.5M 5.0M 4.5M 08/ 09/ 10/ 11/ 12/ 01/ 02/ 03/ 04/ 05/ 06/ 07/ 2009 2009 2009 2009 2009 2010 2010 2010 2010 2010 2010 2010
- 17. BACKGROUND Customer 2008 2009 2010 Total Gross Merchandise Volume (GMV) $ 88,000,000 $ 18,000,000 $ 383,300,000 Transaction Fees $ 3,072,300 $ 6,335,000 $ 13,415,500 Listing Fees $ 3,329,558 $ 8,907,869 $ 14,003,320 Total Revenues $ 6,401,858 $ 15,242,869 $ 27,418,820 Growth Rate 138 % 80 %
- 18. BACKGROUND Market Overview “How would you describe your executive team’s goal for customer experience?” Differentiate ourselves from all firms across any industry 13% Differentiate ourselves from competitors in our industry 67% Maintain parity with other leaders in our industry 13% Keep from falling too far behind leaders in our industry 4% Stay slightly mainstream in our industry 3% Stay slightly behind the 0% mainstream in our industry
- 19. BACKGROUND Market Overview “How would you describe your executive team’s goal for customer experience?” 80% want to differentiate with customer experience Differentiate ourselves from all firms across any industry 13% Differentiate ourselves from competitors in our industry 67% Maintain parity with other leaders in our industry 13% Keep from falling too far behind leaders in our industry 4% Stay slightly mainstream in our industry 3% Stay slightly behind the 0% mainstream in our industry
- 20. BACKGROUND SWOT Market share: • Leader of online homemade/craft No physical store: market • Cannot physical touch and see • Number of users (buyers and sellers) worldwide participating Customer Service: • No direct line Fees: Low service fees for sellers; free for • No live person contact buyers Authenticity: Community experiences: “Sparking • Verification of product Creativity” • No warranty • Online: Blogs, team activities, see exhibit (list of activities) S W O TSeller Loyalty: Seller goes around Etsy’s terms Build stronger engagement with buyers and and conditions and sells offline directly to sellers buyer. Redesign customer service Future online growth: For example, creating an open source market such as handmade Provide brand customization to the sellers for craigslist their shops Competition: Improve upon or copycat the Etsy Link to social network: i.e. “like” on Facebook model. For example, Ebay “Homemade Section”
- 22. NEW ORGANIZATIONAL STRUCTURE Customer Service Department Cusotmer Service Department Customer Service Director of Customer Engagement and Etsy Pop-Ups Managers Live Chat / Call Center Etsy Pop-Ups Manager of Online Manager of Local Customer Engagement Customer Engagment Departments Live Chat / Call Center Etsy Pop-Ups
- 23. CURRENT ORGANIZATIONAL STRUCTURE ETSY “People want something that is unique.” - Robert Kalin, Co-Founder of Etsy Board of Directors Caterina Fake Robert Kalin Jim Breyer Fred Wilson Danny Rimer Chairman of the Founder Investor Investor Observer Seat Board of Directors Board of Directors Board of Directors Board of Directors Board of Directors C-Suite Adam Freed Robert Kalin Chad Dickerson COO CEO + CCO CTO Etsy Etsy Etsy Managment Jared Tarbell Simon Levene Kellan Elliot-McCrea John Allspaw Matt Stinchcomb Co-Founder Advisor & Investor VP VP Technical VP Community Etsy Etsy Engineering Operations Etsy Beth Ferreira Sinohe Terrero Nizzi Karai Renaud Randy Hunt Jonathan Basker VP Finance and VP Finance Head of Marketing, Design Director Senior Manager, HR Operations Ecommerce & Etsy Etsy Digital Media
- 24. NEW ORGANIZATIONAL STRUCTURE Current Proposed 6% 5% 5%4% 9% 10% 42% 47% 10% 11% 15% 21% 15% Engineering Support Customer Service Business Ops Community Marketing Product
- 28. RECYCLED DENIM CURTAINS NATURE
- 29. RECYCLED DENIM CURTAINS COMPUTERS NATURE
- 30. OFFICE SPACE RECYCLED DENIM CURTAINS COMPUTERS NATURE
- 31. OFFICE SPACE RECYCLED DENIM CURTAINS COMPUTERS DESKS NATURE
- 32. OFFICE SPACE RECYCLED DENIM CURTAINS COMPUTERS DESKS NATURE ENERGY EFFICIENT LIGHTS
- 33. OFFICE SPACE RECYCLED AMBIANCE DENIM CURTAINS COMPUTERS DESKS NATURE ENERGY EFFICIENT LIGHTS
- 35. MARKETING PLAN
- 39. MARKETING PLAN
- 41. 2011 DEMAND FORECAST Number of Unique Visitors (Millions) 92.9 80 83.4 78.4 66.3 60 40 20 0 2010 Last 5 Yearly Online Projected Month Trend Shopping Trend of Behavior of 18% 25.6% Trend of 40%
- 42. 2011 DEMAND FORECAST Medium Scenario - GMV Sales (Millions) 200 150 100 50 0 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
- 43. 2011 DEMAND FORECAST Total Revenues (Millions) 80 $76.4 $69.4 60 $49.3 40 20 0 Low-2010 Trend MED-Average High- GMV Goal
- 44. TIMELINE 0-6 Months 6-9 Months 9-12 Months Timeline Framework: Department rganize Department re Employees fficiency re key players Training of New Employees r Workstations Tr reation of a Employee T 9-18 Months 18-30 Months 30 Months Timeline s T T
- 45. SUMMARY Vision CORPORATE STRATEGY Create a stand alone customer service department ENGAGEMENT 1. Create a call / live chat center that will address customer needs 2. Create Etsy Pop-Ups that will bring the online store to the local community and provide a physical customer service contact FOCUS Engage customers by putting people first Bring Etsy online venue and labs to the local community Provide excellent customer service
- 46. T H AN K YO U
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