In today’s interview, we will continue our discussion with Dana. Tune in to see what he had to say about upselling to your customers and using different strategies to teach us how to sell products online.
For our other interview or access to a webinar Dana present, please visit http://amazingfba.com/dana.
An amazing offer would be discounting your product by 50% because most sellers are only just discounting 5 or maybe 10%. Where 50% off is definitely is a big deal to most customers and they will love you for it. Especially if you can show that it is actually selling at that price on Amazon. Getting 50% off would be the best way to create an awesome offer.
You should give the customer a coupon inside with the package. When they get to Amazon and get to the right link they will find the product is at full price. To make sure the customer uses their coupon you would charge full price. Then at purchase when they use their coupon that would basically unlock the 50% off making the product cheaper.
You come out ahead when you sell at a discounted price because you don’t have the fee that you would at full price, and most importantly you get a customer off of Amazon. The thing to remember is getting customers off of Amazon is value in and of itself. As far as percentages go your range should be between 5 to 20%.
The thing that is most exciting is once you get your backend build up really well, and you can take customers off of Amazon. Suddenly you don’t have to try and make your money solely off of Amazon.
Another tactic to making big money is to take an existing product and lower your prices that way you can get more people coming through your door, and potentially making a purchase. Combining this tactic with offering coupons is the best way of getting more eyeballs on your product. You’ll get more buys and outsmart your competitors.
Physical products businesses are cool. Some of the people don’t talk about how much money they require to grow and scale them. because every time you sell out of inventory you need twice as much the next time. The best thing to do is to inject product services into what you’re already selling. One of the things you could do on the front end would be to inject informational products like a how-to.
The next step is to become an affiliate for some of the products people are buying from you. The thinking of most people is that their next dollar only comes from launching their next product. But it is much more important to build it up from front-end to back-end first. Once you have done that just rinse and repeat which is much more important than injecting a new product.
A great book to read on this principle is written by Perry Marshall on how to sell products online. You’ll find the that 80% of your revenues come from 20% of your fulfillment. So, when you get higher up offers you’re actually spending less time and money, but you making more doing it. Any listeners out there that do not already have these high ticket offers you’re really missing out on your best customers.
Dana has sold numerous copies of his book at $2,500 because the contents of the book are so valuable. Inside his book, he shows how he’s able to sell most of his books for a whopping $200,000 and even up to $400,000 per copy when other people are selling their book for only $20.00.
He goes through the entire process of how to sell products online and making huge profits in the digital product world. The exciting part is that he is giving away a free copy to all the listeners at his own expense completely free. Stay tuned to get your free copy! Limited time only!
Dana’s first go for the Mastermind was a couple months ago which was unbelievable and a really special event. Because it went so well the first time it will be happening again February 2018. This will be a live event. He will be personally working one-on-one with people, but he will also be having other people flying in to share with the community as well. It’s different than most masterminds because it’s at his house and there are only 20 spots available.
Goats will be involved. Doors are now open and several spots have already been taken so don’t wait too long to reserve your spot before February 2018. It is very simple to apply just by going to http://goatfarmmastermind.com. You can check out the success stories over there and if it’s something you’re interested in doing, you can sign up.
For our other interview or access to a webinar Dana present, please visit http://amazingfba.com/dana.
The great thing about running an Amazon business is the freedom it allows in your personal life. You can go on holiday as you want and you can take a day off as needed. You set your own schedule and make your own deadlines. That also creates one of the more difficult aspects of your job as an Amazon seller, time management. Today on the show we have David Aggiss and we’ll be discussing time management techniques when you’re running an online business.
If you are first starting out, the challenge is finding enough time to work on your business. You have your full-time job, maybe a spouse and children, then your Amazon business on top of that. It’s going to lead to some late nights and long days. That’s the struggle of it. It’s important to set aside time-blocks for specific tasks. If you start working without this, you’ll end up working on a number of things and accomplishing nothing.
Customer service is a daily task. You’re probably going to be in Seller Central a lot anyway, which is a good thing so you can respond to customer questions and other issues as they arise. Once a week, you want to look at your listings. See if there is any way to improve them. You should take a look at your PPC and keywords to make sure they are performing how you want.
Expanding your business is an evening job. If you are looking to research new product lines or find new suppliers, make sure you have a few weeks available where you can put in some serious evening hours. You’re going to have to work everyday with emails back and forth with your suppliers, especially if they’re in China. Unless you can get on a Skype call, this process could take a week or more because of the time difference.
Skype is recommended to help speed up this exchange. However, keep in mind that if you’re looking into several suppliers, that Skype could get overwhelming. It is easier to maintain all the information if you limit it to email since that has understood, built-in limitations. Also, you will have a record of everything discussed.
If you find that you don’t have the time to handle everything that you need, consider outsourcing. Be aware of what your strengths and weaknesses are. Focus on your strengths, outsource your weaknesses.
If you are making enough money from your Amazon business that you can afford to outsource, then you are probably pretty proficient at the day-to-day Amazon tasks. Then you’ll want to continue to handle those. If your background is in web design, then build your website yourself.
If, however, you don’t know the first thing about building a website and you have no idea how to work on social media, outsource those. Chances are you can find someone that will do it better and faster. If a task is going to take you a week, but someone who is an expert can do it in a day, pay them to do it. The task will get done several days soon and you now have that week to work on something you’re an expert in.
While time management is important, focus management is as well. Like I said before, you have the freedom to make your own schedule, but you don’t have a boss to keep you on track. It’s easy to lose focus and let your business suffer because of it. You have to keep in mind why you want to run your own business. Whether it’s to have a luxury house, nice cars, or to simply spend more time with your family. Whatever it is, whether it changes over time, always remember that and let it be your motivation to stay focused.
Today on the show, I have one of the first contacts I made when starting this show, David Aggiss. I had him on, all the way back in November of 2015. Since then, he has given up the day job and is his own full-time boss. He has a few business, one of which being an Amazon business. We’re going to dive in and find out David’s strategy for selling on Amazon.com.
David started learning about Amazon in April/May of 2015 and began receiving some training. In about four months, he started selling his own product. He took off quite well in Q4. At the time, incentivised reviews were still allowed so he made that a large part of his strategy. His sales exceeded his expectations going from 10 units a day to 30 on average. He launched his second product in Q4 last year and focused on his listing since incentivised reviews were no longer available.
There are a lot of techniques for finding products. David decided to simply look through Amazon. This is a great technique for finding good products. Look for lower prices and low competition items when first starting out. If you find a good product and the listing isn’t optimised, then there is definitely an opportunity for you to sweep in and take over. You can use Google Trends, Merchant Words to help you find what popular and what people are looking for.
David didn’t use any tools to find products, like Jungle Scout etc. He didn’t know what his products would be so he wouldn’t know what to search. Once he picked the products, he verified through Jungle Scout that there was a demand. Now he has about 5 products he’s working through launching.
He search Amazon to find his products. He narrowed his search to products between $15 and $50 and looked for products that interested him. If you are interested in the product then it’s easier to relate and figure out what those buyers are looking for. Then you can tailor your listing to those shoppers.
Getting reviews has become much more difficult since Amazon banned incentivised reviews. With this new world, you have to pay more attention to reviews since you can no longer give products away in exchange for a review. One thing to pay attention to when getting started with a new product is the number a reviews your competition has. If they have thousands of reviews, it’s going to be much harder to compete because it is more difficult to reach a competitive level.
Make sure you competitors only have a hundred or so reviews so you can better compete. Then you can use other services to help get legitimate reviews. You can also try to get traffic coming in from off Amazon.Ads on Facebook, Google, and Bing are great places to start.
There are also ways you can use Amazon to boost your listing. Spending heavy on PPC at the beginning is a good way to drive traffic when selling on Amazon.com. Once your listing gets going, then you can cut back to where it’s profitable. One thing David mentioned was participating in Lightning Deals. These deals on put on by Amazon that offers their shoppers very good discounts for a very limited amount of time. There is a link underneath your Advertising tab on the main screen of Seller Central. It’s not all the time, but Amazon will offer you a Lightning Deal when it’s relevant. This is a great way to drive a lot of sellers to you listing and gives a nice boost to new products.
Amazon sets the parameters. They will tell you the time slot, the minimum number of units, and the sale price which is based on your sales history. David, for example, recently got a time slot for 1am to 7am. Not the best time as many people aren’t looking at Amazon so early in the morning. Despite that, he had an additional 40 sales from the deal.
It’s offers more robust to you PPC advertising. The top banner ad on Amazon, that is usually a link to someone’s storefront, that’s Amazon Marketing Services. Sometimes there are ads under the Buy box, those are Amazon Marketing Services ads. It’s more exposure and drives more customers to your products which, in turn, could lead to more sales.
It’s only accessible to vendors. This used to be invite only until Amazon started Vendor Express, which is open to everyone. Now you can get access to Amazon Marketing Services once you have a purchase order. So once Amazon orders product from you, then you have access to AMS and all the benefits that come with it. To learn how to get started with Vendor Express, please check out my interviews with Will Tjernlund.
If you don’t want to go down the route of Vendor Express, there is a work around. You can sell Amazon a product that you don’t intend to keep in stock. Go to aliexpress and buy 10 units of some item. Tell Amazon that you want to sell it to them and they will request samples. Once that process starts, you should be able to then sign up for AMS. Once in Amazon Marketing Services, you are able to advertise any products, not just the ones you have in Vendor Express.
Not only can you advertise products that are in your Seller Central, you can advertise products for items that Amazon doesn’t list you as the seller of. This is very beneficial if you have a Merch by Amazon account. If you sell Merch, you don’t have access to ads. With Amazon Marketing Services, you can then run ads for you t-shirts. You can check out my interview with Chris Green if you are interested in getting started with Merch by Amazon.
It may not be worth it, for everyone, to utilize Vendor Express beyond getting your foot in the door. There are many issues with it because they take over the listing and they tend not to optimise it so it converts. However, it’s almost a necessity for some. For example, Anthony has a friend that selling a health and beauty product that he makes from home. Since he makes it from home it is impossible for him to get ungated. However, by selling through Vendor Express he is now able to get past that since it’s technically Amazon selling it, not him.
Vendor Express is making strides to improve the listings by making some of it available to the sellers to be edited. Some aspects, like the title, you may need to ask Amazon and jump through hoops for, but it is possible to optimise your listing.
Get in touch with Anthony:
He has written two books about selling on Amazon:
Bootstrapping E-commerce: How to Import and Sell on Amazon
Bootstrapping E-commerce: Advanced Amazon Tactics
You can contact him at he publishing company