Do you want to build an Amazon business that sells for more than seven figures just one year from the date of launch? Of course, you do! Well then listen up. On today’s episode of the show, I’ve brought in Matt Ward. He’s an expert on scaling fast, and he’s also the co-creator of the highly respected Amazon Podcast FBA ALLSTARS and the cryptocurrency capital solution corl.io.
We’re back with Part 3 of my interview with Chris Green from Merch Dojo and today we’re talking traffic and how to drive it to your merch on Amazon.
This is part 2 of our interview with Jonny Steel from Payoneer, the cross-border payment solution helping move money around the globe as efficiently as possible. Today we will be covering the topic of converting dollars into pounds.
The guest for this episode is Jonny Steel, the VP of marketing for Payoneer. Payoneer is the leading B2B cross-border payment platform that helps business pay or get paid. They’re also Amazon’s trusted payment platform. He is here today to help us sell on Amazon US.
Today We learn more about how to sell your eCommerce business with Coran. Continue reading
Back on the show today is Steve Chou from MyWifeQuitHerJob.com. Continue reading
On the show today is somebody who is really a big name in the ecommerce and online training for the ecommerce world, Steve Chou from MyWifeQuitHerJob.com. Today he will be teaching us how to get started with ecommerce off Amazon. Continue reading
We have a special guest today, Augustas Kilgys, to help up with seller optimization. Augustas is from Lithuania and Germany which gives him a unique insight into selling. He is also running the Seller Optimization Summit which is going to be going on very soon. If you are interest, please sign up to get more information.
It’s more than just growing your business on Amazon. You have to actively contact and cold call retailers in order to sell your products. It’s the next step in the process. You’ve sold on Amazon, you’ve diversified through other channels, and you’ve built up your brand. If you want to become a wholesaler, you have to take the time to build your brand. It’s not an overnight task. It takes a lot of time to build a brand.
It might not be a good idea to start large chains like Tesco or Wal-Mart. The better idea would be to find a smaller one in your area. Make contact with the owner or decision maker, and set up a presentation where you can make a pitch on your products. A fallback would be to create a PDF that goes over all the information. You can them email the document to them and follow up a few days later with a phone call.
You may not have the money to get a booth or a stand, but you can go as a guest. You can find local retails and get their contact information. Then you can send them an email and PDF where you talk about your company and make a pitch. One vital aspect, in order to become a wholesaler, is making these connections.
You can’t go to these retailers and sell some generic widget. It needs to be unique. It also helps to have several products in your catalog before you become a wholesaler. Bear in mind that even though it may take a year or two for your wholesale business to get going, the payoff happens when retailer orders tens of thousands of products at once.
The great thing about wholesale is the potential. It really is possible to to do great things with it. Whether you want to do it to make some extra income or make it into a large operation. Manuel has done this. He currently does about $300,000 on Amazon, and close to $1.5 million in wholesale. When you factor in his consulting and sourcing income, he is making around $2.5 million a year. The potential is there if you’re willing to put in the time and effort.
Get in touch with Manuel at importdojo.com and get a free eBook and newsletter.
As we discussed in the previous episode, building a brand away from Amazon is a very good idea.
Amazon owns you and your listing. They control everything. They can suspend your account at anytime. If you sell exclusively on Amazon, that puts you in a difficult situation. It’s a good idea to have multiple selling channels. That way, if any one goes down for whatever reason, you have other sources of income. Amazon only accounts for about 20 – 30% of Manuel’s income. Now, if something happens to his Amazon account, it wouldn’t shut down his business.
Another reason for building a brand is that Amazon is a race to the bottom on pricing. If you come up with a new product, in a couple months a lot of sellers have copied it and now everyone is lowering prices to get sales. If you have your own ecommerce site or wholesale, you can dictate the prices as long.
When building a brand, there are several options when it comes to other sales channels. There is jet.com where you can signup to be a third-party seller. Wal-Mart recently bought them for $3.3 billion. You can also sign up to be a third party seller on walmart.com. When it comes to these these third-party selling routes, it’s important to bear in mind that it may take awhile to be ungated. For those in the UK, you can use tesco.com. The downside to these platforms is that you are still a third-party that is subject to Wal-Mart or Jet or Tesco, etc.
The best security would be owning the platform with Shopify. That way you control everything. It takes a lot more work than with Amazon as you don’t have the benefit of them shipping everything. However, the big issue is getting traffic. You can always find people on Amazon, but getting them to come to your site takes work, like all aspects of building a brand.
You have to work on SEO in order to be found. One strategy is to go to other sites where your target audience is. You can find forums or go to Reddit and talk to people that are interested in your category. For example, Manuel is selling VR products so he goes to a Reddit forum about VR and talks to people about a new headset Samsung is releasing. This can drive traffic to your Shopify store which will help your Google rank.
Ads are another way to boost rank and drive traffic. Google or Bing as are effective. You can use Facebook ads for conversion and email signup; not so much for selling products.
It can be more expensive and it takes a lot of work. But if you have good content, good SEO and traffic you can easily rank on page 1 or 2 of Google. That is building a brand that has visibility on the most powerful website on the planet: Google.