Learn how to avoid Amazon failed products, on how to resource dead inventory and more. Algopix gives a full analysis and shows the most profitable products.
Experiencing things out for yourself is the only real way to learn. However,
living in a fog of confusion is not going to enlighten you.
Reinventing the wheel is terrible for your peace of mind. Better to model
success in an efficient form. You can have much better experience & learn
It also wastes precious time. (If you have a product that makes you $5000 a
month, a 6-month delay just cost you $60,000 in lost sales)
Most other sellers I know, both power sellers and those just starting out with
their first few thousand a month, have found the same.
Those three things are a Course, a Coach & a Community.
You may say that I’m biased since I (now) offer all three.
Fair. However, the reason why my experience as an Amazon seller,
especially early on, showed me that I needed all three.
I’m scratching my own itch (which I advise you to do as well.)
For newcomers to e-commerce, a course is the best investment. Coaching is a
bigger investment but will help you move the needle faster and save a lot of
wasted time and money. If you are about to source product or launch, even
one or two sessions with a competent coach could save or make you $1000s.
Sure, we have a course. (you can find out more here). We’ve worked hard to
make sure it covers what you genuinely need to know.
Two things to particularly look out for in an Amazon course:
straight into putting down $6000 on an order. Trust your common sense.
I personally took on an excellent Amazon coach fairly early on in the game.
My only regret is that we didn’t have a more formalised, committed process.
Sure, she cost good money but it moved me out of the soup-like state that
could exist for months on my own.
I currently also work currently with an excellent eCommerce coach. Thanks to
a longer-term commitment, we’re moving the needle together much more.
Like everything else I’ve created, I make what I wish I’d personally had
available at the start of my selling journey. (Check out what I offer here)
There are a growing number of Amazon coaches. Get to know people from
their free content. Be wary if they are basing their training on their own
narrow success with one product category.
Above all, make sure they have a clear structured process. Diagnosing before
they subscribe; goal clarity’ and accountability are critical features of
professional coaches and consultants.
Go in with your eyes open and apply common sense.
Chosen well, a good coach can make sure you focus on what is most likely to
move the needle. And make sure you actually get the work done. This, perhaps
above all else, is the most valuable function of a coach for new sellers.
We learned a ton by selling an off-the-shelf, generic design in ready-made packaging. Now we the same skills and processes to have our own private label product created.
Don’t ignore the data
It constantly shocks me how few sellers know their conversion rates
or sessions (visits). Don’t join them!
Equally: don’t drown in data either!
Make sure your “necktop computer” can absorb what your laptop is
Detail Page Sales & traffic report (Under “Reports>Business Reports” )
• Sessions: Is your product getting seen? If not, it’s time to drive
• Units ordered: Are you making sales? How many?
• Unit session percentage: = conversion rate. How well (as a
%age) is your listing converting visitors to buyers? If this is low,
it’s time to improve your offer (inc. price)
Profit and Loss
Don’t get buried in the numbers. Measure for a purpose
• The purpose of P & L is to help with decisions:
• Will you reorder this product?
• If so, how many units, what can you afford (cashflow)?
• Use software for Gross Profit!
• e.g. Manage by Stats, Fetcher, HelloProfit
Amazon Ad Spend
• If you’re launching, expect to spend a LOT initially. That’s fine IF
you’re gaining keyword ranking for valuable keywords as a result.
• Overall picture by campaign: Monitor for either really good
(profitable) or really bad (expensive) results.
Measure Keyword by keyword for manual campaigns:
• Look for sales – are you driving sales and ranking?
• Next look for clicks – are you telling the algorithm to rank your
• Check CTR (Click-Through Rate). Over 0.7% is good for ranking.
Get the Overall ad spend by-product:
• Take the ad-spend on a product for a period.
• Check your overall sales (Business reports) for the same period.
• Calculate your ad-to-sales ratio (ATS). If it’s high in launch
period, that’s fine. After launch, aim for about 10% overall.
• Mostly ignore ACoS unless it’s super high (over 100%). It’s a red
Revisit your Target Customer Avatar
Exactly who are you selling to?
As well as demographics (age, sex, location, income), try to define psychographics (values, drivers, etc.)
Revisit your Market Research
Craft your listing
Fantastic Photos: Engage an exceptional product photographer.
Plan Your Launch Like a Pro
Revisit your Target Keywords
Plan your Traffic channels
Amazon Ads? (this is the mainstay)
Launch Services (JumpSend, Viral Launch)? Facebook Ads to Chatbot?
Plan your Budget
Set up your Keyword tracking
all keywords you think might be important.
Set your price REALLY low
Set your Amazon sponsored ads
Monitor but Don’t Mess
Define what you’re looking for first!
China manufactures 80% of the world’s products. Its selection is just vast. Your job is to drill down.
The simplest starting point is: alibaba.com
Elimination is the name of the game