Australia’s e-commerce market makes up about seven percent of total retail sales. With the trend expected to continue to grow Australian retailers need to understand the inner workings of e-commerce and how to compete globally. Entrepreneur and Neto CEO Ryan Murtagh is here to help.
In 2011, I founded Neto, an e-commerce platform for SMEs. Up until then, I was operating several online stores and developing what would ultimately become the Neto eCommerce Suite.
Neto was born out of necessity. After struggling to scale my own e-commerce businesses efficiently with the tools available to me, I decided to solve the problem through innovation.
Using the experience I had gained as an online retailer and my background in business and shopping cart platforms, I set out on the path of developing an end-to-end e-commerce platform designed to automate and streamline online trading for SMEs.
I focussed on the pain points that I was experiencing as a growing start up.
Since launching, Neto has fast become a major player in the SME e-commerce platform space. In Australia, over 1,000 businesses now use our platform and cumulatively they have turned over more than $1 billion through our service.
Every four seconds, an item is purchased on a Neto hosted website. That’s about 21,600 items per day, every day!
I’ve worked with a gamut of clients and partners (eBay, MasterCard, The Spotlight Group, Drizabone, Edible Blooms to name a few). Although my skill set is vast, my greatest expertise is understanding the inner workings of an e-commerce business.
I hope to continue to use this knowledge and the knowledge I gain daily from the thousands of people that use our software to build a truly seamless solution that solves traditionally complex business problems.
In June this year, Telstra made a majority investment in Neto. This investment means that Neto will have an opportunity to expand at a faster rate and help Australian retailers compete on a global scale. For Neto, this partnership will allow the acceleration of our development plans and we can take our customer service to the next level.
Our customers range from small Mum and Dad operations turning over under $1,000 per month, to eBay, Australasia’s largest trader, the Spotlight Group and everyone in between. This proves that our platform can scale whilst still being affordable to everyone.
Since opening our doors, we have maintained a very low churn rate of less that 2%. This customer loyalty is what ensures our continued success and growth.
We differentiate ourselves in three distinctive ways.
Unlike most e-commerce platforms we have an in-house design and consultation division. Although it is not critical that we offer these services in-house, I believe it is this mix of service and technology that ultimately delivers more successful and loyal clients.
Our hosted, managed and serviced e-commerce platform enables retailers and wholesalers of any size, to develop and maintain powerful online stores that integrate with leading accounting platforms, payment gateways, shipping carriers and sales channel.
We are not targeting part time flea market sellers, nor are we targeting enterprise level multinationals. I like to think of us as a solution for the middle class. Our solution solves specific needs or pain points that most businesses only realise once they start trading successfully online. Therefore much of our business comes from other platforms. Our platform is sticky and our churn rate is less than 2%.
Check out some of our SMEs who have implemented Neto and reaped the benefits.
So, what are the pain points you’ve experienced as a retailer, setting up online trading? What have you done to overcome them? Share your tips here!
Originally posted on Telstra Exchange.