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When you have an Amazon product launch in 2020, you will compete with big brands who spend on paid search, so you need to know what you are doing.
What are the biggest mistakes you see with people who HAVE picked a good product post-launch?
If you pick the right product, your biggest issue is going to be staying in stock.
Mistake #1 – getting the velocity of sales
For all the sellers on page 1, how many do I need to make on a daily basis to get to and stay on p. 1
Mistake #2 – not doing enough keyword research for targeting the right keywords for high conversion rate
Amazon wants to make money from you –
Business metrics
What metrics do you feel Amazon sellers should be looking at that they often don’t?
Why are those important?
Tools
Profit and loss
Business valuation calculator – net margin annualised!
Best performers – and also worst!
- Profit margin, sales
- Return rates
- Reviews
Business valuation estimate
Based on
- The stock you have
- Net margin over a certain time annualised
Evolution of the industry
Jon started Amazon in 2014 based in Los Angeles
Originally
Early Amazon had:
- Bad tech
- A bad search and display experience.
- And bad customer listings.
Seller photos and listings are so much better.
Is Amazon too competitive?
This conversation was happening in 2014!
It’s still worth going into Amazon in 2019 but you need to know what you’re doing.
Using data in 2020
Using a data-centric approach to finding products is more important than it was.
Nowadays the days of generic everyday products are gone.
You’re now competing with bigger brands now who are spending big money on paid search.
If you’re new, you want to play in small niches where the big brands don’t go.
Amazon has to keep customers engaged
So if you launch a product that is
- Differentiated
- More connected to a customer
- The Amazon algorithm is incentivised to give you a shot
- Bringing the latest, greatest, most evolved product.
Pick a niche where you can easily develop a range of products
If you can leverage existing supplier to launch products 4,5, 6
Other ways to connect
The Instagram channel launched in mid-2019 at Zonguru
Channel dedicated to amazon product ideas and inspiration
Hot and not hot products.
How to differentiate products
Benefit overlays
New 4-part video service “2020 perfect vision”
Total about 2 ½ hours of really solid content – people are loving it!
How to use data to find products etc.
Also full “hot product” ebook – how to validate a product opportunity – evaluating products
Plus 20 hot products for 2020.
“Zonguru”
Free tools on the site – ASIN index checker
Free mobile app – on the Apple Store and Google Play
If you sell in multiple markets, it displays your sales and key sales data in one view.
There’s a “cha-ching” that makes a noise when you make a sale.
If you get to $500K you get slot machine.
USING ZONGURU
Best way to provide value – just charge $1 for the first month – try for 30 days
Once you choose a package, there is a lot of flexibility on the tools you use.
Some of the links on this page are affiliate links, which means that if you choose to make a purchase, I will earn a commission. This commission comes at no additional cost to you. Please understand that I have experience with all of these companies, and I recommend them because they are helpful and useful, not because of the small commissions I make if you decide to buy something. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.
Watch my full interview with Jin Tilley
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