Blog & Podcast - How to Sell on Amazon UK - Amazing FBA - How to sell on Amazon UK
Adam Hudson

How Adam Hudson REALLY got to $1 million a year in Amazon sales - Free course on how you can duplicate his success.

Sounds like the usual Amazon FBA claim?  Well, this is different. Why? The "Reliable" strategy. Adam Hudson is a friendly but brutally honest Australian. He's outlawed Bullshit in his businesses. He gives the TRUTH of what works and what DOESN'T in Amazon.

  • FIND OUT  how Adam ACTUALLY built a business to $1 million/year

  • SAVE YOURSELF FROM BS -  what it's like to be in the Amazon business

  • LEARN WHY it's still a great opportunity -even in 2017

Small Business Tips – 3 Ways to Grow Profits

When you’ve been working away on your startup it’s inevitable that it’s going to take time to get off the ground. It takes timeto start making you the money you deserve, that reflects the hours and the effort you’re pouring in. So how to grow business online and make it profitable? 3 Small Business Tips to do just that.  

Well, now it’s time to look at exactly how you can start making your business a more profitable one and open up those profit margins.

Let’s take a look at three small business tips to start making you more money.

Small Business Tip 1: Leads to Sales

This is where the profits are won or lost. You may get plenty of inquiries but if you’re consistently failing to convert them into physical sales, you lose. In that case, you need to start asking yourself what it is that’s going wrong.

The best thing you can do is to start from the basics when it comes to sales, whether that’s just you on the phones or whether you have a whole team working with you.

When was the last time you had any training in modern sales techniques? Could it be that you’re using techniques that are out of date and ineffective in today’s modern customer-led focus on business?

 Find a training course from a reputable training company that hones in on improving your techniques and see your profit margin soar.

Small Business Tip 2: What’s Are Customers Saying About You?

Chances are, your customers are happy with the product or service they receive from you. Chances are they’re happy to refer you to another potential customer. So why not harness that goodwill for your own advantage?

The best way you can go about this is by using actual testimonials from customers to great effect. Have them on your website, not just written versions but video too if you can find customers who are willing to go that far.

If you send out an email newsletter make sure to include these testimonials and send the message straight to your potential customer. You might also think about introducing a referral reward scheme among existing customers.

Small Business Tip 3: Increasing Volume

Whether you sell cars or sell copywriting services you need to be able to increase your customer rates to make more money. Clearly you’ll need to be able to back up your offer. So if you need to employ more staff, install better tech or better fleet management systems, then make that investment.

In the meantime, focus on increasing the number of customers you talk to, the number of pitches you make, the number of sales emails you send out. Whatever it is you have to do to talk and sell to your customers, do more of it. Set yourself realistic goals and objectives, by gradually increasing volumes but make a plan and aim to complete it.

You’re looking to increase your profits and that involves hard work. You’re already putting in the hours, so now is the time to focus on actions that are going to make your business work even better. Then you can finally bring in the kind of profits that you know your business is capable of.

Employee Retention Strategies

Employee Retention Strategies are a MUST

Employee retention is a big problem for many companies. When you hire a new employee or member of staff you put in a great deal of time, effort, and money. Then, after you have spent out on getting your new hire up to the standard that your industry requires of them, they leave. That means another company gets the benefit of the development that you have invested in.

Losing staff is an expensive business and if you are perpetually haemorrhaging team members for one reason or another. You need to find a way to retain the staff that you have brought in. You need employee retention strategies. 

Get It Right From Day One

When it comes to employee retention, first impressions are worth their weight in gold. The day that an employee joins your company is the most important in their career with you. This is the day that you get to create a lasting impression.

Many companies will assume an arrogant position when it comes to bringing in new employees. They are the company and the employee is just another cog in their machine. This is problematic, and you need your new employee more than you are giving them credit for. 

Show your appreciation for your new staff members by making them feel welcome and part of the team immediately. Show them that you care about the contributions that they will be making. You can do this by providing them with a smooth and thorough onboarding process. Inductions take a lot of planning and effort, and you can help to manage this using software such as ELMO onboarding.

Provide Incentive To Stay – a key retention strategy

People like to stay in a job role that provides security and the long term prospects of progression. If a staff member can see where their career will be heading if they stay with your company, they will be more inclined to stay with you instead of trying their chances elsewhere. 

Pay your staff a reasonable rate. Living costs can often skyrocket and leave wages behind, and if you are not reviewing salaries inline with the cost of living, then you will lose staff members who cannot afford to live with you. Remember, the cost of attrition and lost revenue due to staff leaving can be quite high. You can, therefore, afford to invest more money in retaining staff. When it comes to setting staff wages, you will often need to look at the wider picture and not just consider short term profits. Remember that paying a little more upfront for employee retention is WAY cheaper than a high employee churn rate.  

Keep Your Staff Happy And Motivated

Create a positive workplace where the achievements of your team are celebrated. Having upbeat managers who look for the good in their team members will incentivize your staff to push harder and achieve for a company where they feel accepted and valued. 

Where development is needed, use constructive feedback delivered in a positive way. Offer support and really spend time in developing your team members rather than putting all of their training needs squarely at their feet. In the long term, all of these things will help to ensure you have well-trained staff who will stay with you for many years to come. 

Why advertising cost of sales (ACoS) is BS!

When it comes to measuring your Amazon ads’ effectiveness, chances are you’ve been led up the garden path by Amazon. I’m talking about “advertising cost of sales” or ACoS specifically here.

Lies and Damn Lies

Do you know this old saying?

“There are lies, damn lies and statistics!”

Now it’s true that you SHOULD monitor certain KPIs (Key Performance Indicators). Amazon ad optimization is, in fact, CRITICAL to your success or failure – more than ever! 
This is especially true now that Amazon is forcing sellers to use advertising ever more to reach consumers.

But it’s SO important to measure the right thing! I’m not convinced that ACoS (advertising cost of sales) is one of them.

ACos is BS!

In fact, I’d coin a new phrase: “ACoS is BS!”

Listen to this podcast to find out:

  • Why “advertising cost of sales” (ACoS) is a distraction
  • Why Amazon really wants you to focus on ACoS – instead of how much money you’re giving them…
  • What REALLY matters instead (hint: it’s a based on a PRODUCT, not a KEYWORD or campaign)
  • What financial metric about your product you should tie in with your Ad spend metrics

Get this right and you’re already ahead of 90% of sellers I meet – even those who I thought should know better…

Why ACos doesn’t Matter

ACoS =ad spend PER keyword, per ad group or per campaign ÷ sales via advertising. 

But this doesn’t account for this fact:  on the Amazon platform, the main purpose of advertising-driven sales is to get organic ranking for a specific keyword. This, in turn, should lead to sales driven by organic traffic.

This makes ACoS an essentially meaningless metric, in my opinion.

Instead, we should be looking at the overall effectiveness of advertising at the product sales level.

I spend $/£/€X  on advertising, and I get $/£/€Y back in sales.

This gives a different metric which is much more powerful. Turn that into a percentage and you have a very key metric, which helps you assess the effectiveness of your ad spend.

Allied with your gross margin by profit line, you have a couple of essential metrics which basically show you, quickly and simply, whether your product line is making profit, breaking even, or falling into the red by making a loss – a loss often driven by excessive advertising spend.

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