TAS 254 : (Hot Seat) Failing Products + Advice on Future Product Plan and Sales Funnel Mapping

If you are curious how an experienced Amazon seller would go about optimizing a product listing that isn’t performing very well, this episode is for you. On this one, Scott chats with his friend Chris Schaeffer about a product one of their listeners is selling. The listener feels that she might want to liquidate the products to get rid of them so she can start over with an entirely new product. Scott and Chris talk about that approach but also give her some ideas about what she might be able to do that could increase her sales.

Just because you launch a product on Amazon doesn’t mean it’s going to be a winner

Many people who try to sell products through Amazon Private Label if you don’t take the time to do the research required. You’re going to need to know what products are selling well and how much room there is for you to introduce another of those products. Just because you don’t launch a product on Amazon doesn’t mean it’s going to be a winner. On this episode, Scott and Chris talk about what can be done if you didn’t do your product research properly to make something out of the loser products you have listed. OR - you may want to liquidate the product altogether. Scott and Chris talk about both options on this episode.

How can you formulate an exit strategy for loser products?

Sometimes in spite of your best efforts and product research, you’ll get a product listed on Amazon that isn’t selling well - and won’t - no matter what you do. That’s when you want to create an “exit strategy” to get rid of those products. On this episode of The Amazing Seller, you’re going to hear how Scott and Chris would go about selling off unsuccessful products in order to get as much out of the failed effort as possible. That way you can begin to invest your time and resources in another product that might be able to do better for you.

Is it better to continue PPC or to do a new promotion?

There are two ways you can drive people to your products on Amazon using the Amazon tools provided in your seller account. The first is PPC (pay per click). That’s an ad platform that enables you to place your products on the top or side of the search page when people search for the keywords you want. PPC is great - but it can be expensive. The other option is doing promotions - which can cost you much less. When should you do PPC and when should you do promotions? On this episode,  Scott and Chris answer the question.

What is this thing I keep hearing about called a “sales funnel?”

When you begin selling products through your own website you’ll want to take advantage of every opportunity you have to sell products to the people who join there. One of those opportunities revolves around your creation of a sales funnel. It’s a simple but powerful tool you can create to capture email addresses and market to people in a way that is appealing and helpful to them. Scott and Chris walk through a real-life scenario, telling a listener what they would do to create a sales funnel for her products, on this episode.

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

• [0:03] Scott’s introduction to the podcast!
• [1:07] The upcoming LIVE event you can get involved in.
• [5:20] How can you get out of a product that is a loser?
• [13:53] Is it better to continue PPC or do a new promotion?
• [17:12] A plan to improve an existing product.
• [23:54] Building a sales funnel: What is it?
• [38:20] Using Facebook retargeting pixels.
• [42:24] Follow up email sequences on sales funnels.

RESOURCES MENTIONED ON THIS EPISODE

• www.TheAmazingSeller.com/LIVE - the live event info.
• Amazon Lightning Deals
• www.TheAmazingSeller.com/230 - sales funnel episode
• www.TheAmazingSeller.com/219 - episode with Mike Jackness
• 1000 True Fans post (and another 1000 True Fans post by Seth Godin)
• BOOK: Jab, Jab, Jab, Right Hook