Mobe Training for ‘First Mover’ Lessons from Ebay
Mobe Training – eBay was the first online based flea market, giving it first-mover advantage. A first-mover is a company that is the first to enter a particular market. Being the first-mover can gain a company many advantages that will keep it on top long after other companies enter that market. While it is not a guarantee for success, you can maximize this benefit by doing the things outlined here.
Below are Mobe Training ideas to takeaways from eBay’s experience leading the online auction market and how you can use them to keep your company on top after you gain first mover advantage.
1. Finding Innovative Ways to Grow
To maintain and increase the value of its stock, eBay kept introducing novel ways to attract more buyers and sellers to its auction site. It grew from being just an online auction market to providing buyers’ opportunities to buy products immediately. It also introduced mechanics like seller ratings, buyer feedback, and promotions that paid sellers for introducing new sellers to eBay.
2. Expanding Its Value Chain
Value chain refers to strategies that a company implements in order to provide a valuable product or service in the market. eBay does not handle transactions of products sold in its market. Its primary purpose is to make sure that goods in its market are bought and sold in a safe and secure manner.
3. International Expansion
eBay noticed potential in international markets quickly and moved to establish storefronts around the world, customizing to the language and needs of the particular country. It first established its presence in most English speaking countries, like the U.S., United Kingdom and Australia. It then moved to other countries.
eBay diversified its business by acquiring many companies that had a stake on its direct trade. Companies like PayPal, another startup that enjoyed massive first-mover advantages, played an important part in eBay’s transactions process. Most of eBay’s customers used Paypal to send and receive payment.
eBay also acquired Skype in 2005 to provide users a quick, inexpensive way to communicate and exchange information needed to complete online transactions. eBay later sold Skype to Microsoft for several billion dollars and still maintains good relations with Skype.
There is a lot to learn from eBay’s growth and expansion, especially after its initial first mover success. Being on top of the market simply because you were the first mover can only last so long. It’s important to capitalize on that advantage and use it to multiply your market share.