Wed, 13 July 2016
Scott has long been a champion of working the Amazon sales engine to build your business - and he still is. On this episode he’s going to say that over and over. But he also wants to be known as an Amazon seller who will speak the truth about what’s really happening as Amazon gets more and more crowded and as Amazon adjusts its algorithms as a result. He’s not abandoning Amazon (no way!) but is beginning to notice why he’s got to think bigger, broader, and make things a little less dependent on Amazon alone. You’re going to hear his latest sales numbers and what he is planning to do to adjust his strategy, on this episode.
Why would Scott share his own sales and expense numbers?
On any of the Amazon sales communities you find on Facebook or other places online you often see screenshots of amazing sales numbers that sellers are getting from their private label products. Great! That’s what selling on Amazon is all about. But often those screenshots and brags don’t tell the whole story. The costs, fees, and other miscellaneous things that go into running a successful business have to be clear as well. So that you can see the real situation that exists for most Amazon sellers, Scott likes to share his own expense and profit numbers. He doesn’t do it to impress you but to impress upon you the realities of what it takes to sell on Amazon successfully. You’re going to get a great education on this episode.
Are you sick of the huge fees you’re paying to Amazon?
Next time you look over the reports Amazon provides about how your private label products are doing, take a look at the amount of fees Amazon is taking for every sale. Does that number make you sick? Recently Scott looked over his numbers and saw that almost 40% of his sales income was going to Amazon. That’s OK, Amazon deserves something for helping him sell his products so successfully. But what would it be like if even half of the products Scott was selling were able to be sold independent of Amazon? That’s a huge amount of profit back in his product. On this episode you’re going to hear what Scott’s going to be doing to break free of the Amazon fees, so be sure you take some time to listen.
Why content marketing is the best way to build a business long term.
Do you know the term “content marketing?” It’s one approach to getting people to look at the things you’re doing online. But it’s a long term game. It requires you to be producing quality information that educates people about the topics surrounding your product. It requires you to be working hard to produce lots of things that don’t actually sell your product, but build the level of trust that people have when they see what you have to say about your market area. Can you create content around your market that helps your customer? Scott thinks you probably can and that you should be to begin building a sales channel that is independent of Amazon so that you can make greater profits. Business is business and you need to adjust as you go to make your sales go as far as they can. Be sure to listen to this one.
Why you need to focus on a market and not just on a popular widget.
It’s great to get sales from selling lots and lots of popular products. Profit is profit. But if you’re making those sales for only a short time, that’s not a strategy that’s going to last you. That’s why you need to be focusing in on a market that will provide you with many product ideas that can create a sort of product line - not just one product that’s popular right now. On this episode of the podcast Scott unpacks what it means to build a product line within a market and why it’s so important so be sure you take the time to listen.
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