https://youtu.be/BvufZVUH-9I

Mastering Product Selection: Profitable Products on Amazon

Insights, Tips, and Strategies to Help You Stand Out and Succeed on Amazon

In this session, we’ll explore the nuances of choosing a winning product on Amazon. Whether you’re already exploring the platform or honing in on your options, let these 11 rules guide you in selecting a product set for triumph.

Rule #1: The #1 seller on Amazon is selling at least $100,000/month minimum
This indicates a strong demand for the product and signifies potential opportunities for you to make an impact.

Rule #2: The Number Ten Seller’s Performance
Similarly, the number ten seller on Amazon should be selling at least thirty thousand dollars per month for your specific category. This shows that there is enough demand in the specific category that even the tenth seller has strong monthly sales. 

Rule #3: The #10 seller on Amazon has less than 500 reviews
Its standing is a result of a consistent commitment to delivering exceptional value and ensuring customer satisfaction. 

Rule #4: You can find at least 1 way to make your version of the product unique and significantly better than 99% of your competitors (longer battery life, durability, user-friendliness, etc..)
Differentiation is the key. Your product should offer a unique and superior feature compared to 90-99% of your competitors. It could be a distinct design, improved functionality, or enhanced quality.

Rule #5: The Price Point is at least $9.99 – $150
This range allows for flexibility in promotions, advertising, and maintaining healthy profit margins.

Rule #6: Repeat Purchase Product capability
Consider products that have repeat purchase potential. Items like coffee, supplements, and vitamins can encourage customers to become repeat buyers, contributing to long-term revenue growth.

Rule #7: You can clearly define and imagine who your ideal customer avatar is that would be proud to share your brand’s products on social media or at a party for example
Clearly define your ideal customer avatar. Understand their needs, preferences, and pain points. Your product should resonate with them, making them proud to share it with others.

Rule #8: Smaller and Lighter (ping pong balls) is better than big and heavy (like a ping pong table) because of cheaper storage and shipping costs.
When choosing a product, prioritize smaller and lighter options. Amazon fees can be significant, and reducing size and weight helps optimize profitability.

Rule #9: You can think of at least 5 other products that compliment this product and would serve the same customer and fit under your brand.
Choose a product that can be complemented by at least five other related items. By offering a range of products that cater to the same customer base, you can increase the lifetime value of each customer.

Rule #10: Avoid Low-Price Commodities
Steer clear of low-price commodities like paperclips or easily sourced items with narrow profit margins. Aim for products with at least 50% profit margins to ensure a sustainable business model.

Rule #11: Low legal liability or infringement issues (patents/trademarks)
Lastly, ensure your product selection has minimal legal liability, including issues related to patents and trademarks. Avoid products with potential infringement complications.

Selecting the right product is crucial for the success of any business. By following these rules, you can increase your chances of choosing a profitable and sustainable product. Remember to focus on customer demand, product complementarity, and legal considerations, while avoiding low-price commodities. With thorough research and strategic decision-making, you can find a product that will not only attract customers but also bring in long-term profits. Keep these rules in mind as you continue your journey towards building a successful business.

Remember, these rules serve as guidelines rather than strict mandates. Adjust them based on your specific situation and industry. Leverage tools like Jungle Scout, Helium 10, or AI programs to aid your research process.

Building brand recognition, understanding your target audience, and creating a cohesive product lineup are additional steps to ensure long-term success.

Take your time, and always stay informed about market trends. With a well-executed product selection strategy, you’re on your way to achieving success on Amazon.

https://youtu.be/UXNapqDV8J0

Why Is Amazon Seller Support So Frustrating?

Selling on Amazon has some challenges, especially when dealing with seller support. Long wait times, inconsistent or unhelpful answers, and policies that restrict your ability to edit listings can leave sellers frustrated and losing sales. 

To help sellers optimize their time and focus on growing their business, we spoke with Arvin Teano, Chief Delivery Officer at Seller Candy, on the Amazon Playbook podcast. Seller Candy offers dedicated account managers to handle seller support issues so sellers don’t have to. 

Key Takeaways:
– Be sure to thoroughly troubleshoot issues yourself before contacting seller support. Follow all the steps they recommend. This shows you’ve done your diligence when you do need to get the issue resolved.
– The top problems Seller Candy helps resolve are restricted listings, buy box issues, updating listings and brand registry, inventory discrepancies, and reimbursements.
– Seller Candy managers have experience working for Amazon seller support. They know workarounds and can get issues properly escalated and resolved.
– Using Seller Candy frees up sellers’ time to focus on critical business priorities rather than spend a lot of time communicating with seller support.
– Seller Candy handles issues for both Seller Central and Vendor Central accounts. They can be given access to all or part of the seller’s account based on the seller’s comfort levels.
– Flat files are key to managing listings but can damage your account if misused. 90% of Seller Candy’s work involves expertise in properly using flat files. 

No seller wants to waste time battling seller support. Check out SellerCandy.com to see if their team of Amazon experts can help resolve your seller support headaches.

https://youtu.be/2z64nwkJ_VU

Learn how to use Brand Tailored Promotions to target specific audiences, boost sales, and increase customer loyalty.

Brand Tailored Promotions is a powerful tool that allows you to create targeted discounts for specific audiences. It’s a hidden gem in the Amazon seller central, but it’s not well-known by many sellers.

Here’s the secret: Brand Tailored Promotions can help you skyrocket your Amazon sales.

By using Brand Tailored Promotions, you can:

• Re-engage at-risk customers and win them back.

• Convert brand card abandoners into paying customers.

• Reward brand followers for their loyalty.

• Keep high-spend customers coming back for more.

• Attract potential new customers and introduce them to your brand.

• Nurture promising customers and turn them into loyal customers.

• Encourage recent customers to repurchase your product.

• Reward repeat customers for their continued support.

• Show your appreciation to top-tier customers and keep them coming back.

Here are some dates to keep in mind when using Brand Tailored Promotions:

• October 24th – November 24th: Only run coupon clippings during this time, as other promotional types can affect Black Friday promotions.

• November 25th (Cyber Monday) – December 15th: Target brand card abandoners and potential new customers.

• December 16th – December 23rd: Target high spend customers, top tier repeat customers, and brand followers.

Here are some tips for using Brand Tailored Promotions effectively:

• Target the right audiences with the right discounts. For example, you may want to offer a higher discount to at-risk customers than to repeat customers.

• Create personalized messaging for each audience. This will help to make your promotions more relevant and appealing to your customers.

• Track the results of your promotions. This will help you to see which audiences and promotions are most effective.

Overall, Brand Tailored Promotions is a powerful tool that can help you to boost your sales on Amazon. By using it effectively, you can engage and convert customers at every stage of the buyer journey.

https://youtu.be/Kd6IMvHqEO4

5 Proven Ways to Get More Amazon Product Reviews

Product reviews make or break products on Amazon. Just glance at a listing with 50+ ratings averaging 4.5 stars, and you’ll be hooked. A listing with zero reviews? Not so tempting. As an Amazon seller, getting reviews is crucial for driving conversions and establishing credibility. But where do you start when your product is still unknown?

In this podcast, Amazon expert Mary goes over some proven tactics for collecting more reviews in a compliant way. Use these strategies to give your product the social proof it needs to succeed on Amazon.

Key Takeaways:

• • Use Amazon Vine when launching new products. This program lets you enroll products to receive up to 30 free reviews from vetted Amazon reviewers. It costs $200 per parent SKU but can give you a major boost out the gate.

• • After the Vine reviews come in, tap your friends and family network (in a careful way). Have them organically purchase and leave honest reviews. Space these out over time and avoid reviewers who share your IP address.

• • Send review requests to customers. Amazon allows this directly from the orders page. Use browser extensions like Jungle Scout to streamline the process. Wait at least 2-3 weeks so customers have time to try the product.

• • Check the review dashboard for any 1-3 star reviews and reach out to dissatisfied customers. Offer assistance or refunds, but never ask for reviews to be changed or deleted.

• • Create a review funnel using marketing inserts. Drive traffic to a landing page that rewards customers and nudges them to leave Amazon reviews before redirecting to your product page. This builds your email list too.

Getting reviews requires patience and persistence, but it’s essential for every Amazon seller early on. Use these proven strategies to kickstart your product’s credibility and social proof. Don’t take shortcuts that violate Amazon’s terms of service. Maintain a long-term, customer-focused mindset with reviews.  

What’s worked for building up your Amazon product reviews? Have you tried any of these strategies?

https://youtu.be/Kd6IMvHqEO4

The Small & Light Program is Ending!

The Amazon Small & Light program is shutting down on 8/28/2023. I know, major bummer!  But wait, it’s not all bad news…

Low Price FBA to the Rescue

Introducing the new Low Price FBA rate for items under $10! No more weight/size rules – this opens up reduced fees for way more sellers! Time to celebrate and see if your products qualify.

Holiday Deadline Dates

The 2023 holidays will be here so fast it’ll make your head spin! 😵‍💫

 Here are the can’t-miss deadlines:

    8/18/2023:   Top Deal submissions due for BF & Cyber Mon!
    9/1/2023:      Apply for Lightning Deals!
    9/14/2023:    Last day to ship for Prime Fall deals!
    10/19/2023:  Final ship date for BF & CM!

No snoozing on these dates! Set your reminders and let’s get planning!

Prime Fall Event Details

The tea is that Amazon is brewing up a special Prime-only event in October 2023! This will feature large discounts and deals to drive major sales before the holiday rush! Don’t miss out!

Tips to Conquer Amazon in Aug

– Review inventory & prices before holiday chaos
– Submit Lightning Deals apps ASAP
– See if your products qualify for new low rates! 
– Use Prime Fall deals to gain momentum!
– Call us if you need help preparing!

With smart planning, you can absolutely crush Q4 this year! Let’s do this! 

https://www.turnkeyproductmanagement.com/wp-content/uploads/2023/08/The-Power-of-Networking-and-SOPs-in-E-commerce-A-Conversation-with-Jeff-Lieber.mp4

Navigating the E-commerce Landscape:

Unveiling the Power of Networking and SOPs for Scaling Amazon Businesses

Today, we have a fascinating conversation with Jeff Lieber, the CEO and founder of Turnkey Product Management, a successful Amazon agency based in San Diego, California. Jeff shares his journey from starting his own brands to exiting them and finally establishing his agency in the ever-changing landscape of Amazon. We’ll explore the importance of networking and the role of Standard Operating Procedures (SOPs) in scaling an e-commerce business. So, let’s dive in!

Getting Started in the Amazon Space:
Jeff Lieber began his journey in the e-commerce world back in 2014, selling his own brands on Amazon. With firsthand experience, he witnessed the continuous evolution of the platform over the years. After exiting his own brands, Jeff founded Turnkey Product Management in 2017, transitioning from a seller to an agency owner.

The Importance of Networking and Partnerships:
Jeff emphasizes the significance of networking and building partnerships in the e-commerce space. He recalls meeting Ryan Moran from Capitalism.com early on, and their friendship led to an official advisory role for Turnkey Product Management. Networking allowed Jeff to learn from others, expand his knowledge base, and foster valuable relationships in the industry.

The Value of Standard Operating Procedures (SOPs):
SOPs are essential for scaling any business, including e-commerce ventures. Jeff stresses that SOPs streamline operations and enable entrepreneurs to delegate tasks efficiently. A combination of video and written SOPs proves effective in training team members to perform tasks at the same level as the founder. He also emphasizes the need to continuously update and refine SOPs to adapt to changes in the market.

Critical SOPs for Amazon Sellers:
For Amazon sellers, two crucial SOPs are listing optimization and product launch strategies. Many sellers neglect listing optimization, which impacts conversion rates and overall success on the platform. Jeff advises developing a checklist for listing optimization to ensure all components are present. Additionally, a well-structured product launch SOP can lead to more successful product introductions.

Turnkey Product Management’s Services:
Turnkey Product Management offers a range of services to e-commerce brands. For established brands with consistent sales, the full-service package includes Amazon channel management, listing optimization, advertising management, and launch strategies. Additionally, they provide coaching and SOP development for brands looking to improve their internal processes.

The Small World of E-commerce:
Jeff shares an intriguing anecdote about meeting Reggie Young, who had previously been a customer of Turnkey Product Management. The story highlights the interconnectedness of the e-commerce community and the importance of strong networking ties.

In this blog post, we explored Jeff Lieber’s journey from an Amazon seller to the CEO of Turnkey Product Management. Jeff’s emphasis on networking, partnerships, and the implementation of SOPs offers valuable insights for aspiring e-commerce entrepreneurs. Whether you’re looking to build an agency or scale your own brand, investing in relationships and effective procedures can be the key to success in the e-commerce world. Happy selling!

https://youtu.be/TH5GA3W6cV8

Don’t Miss Out on These Post-Prime Day Secrets

Prime Day, the much-awaited annual shopping extravaganza, has come and gone, leaving sellers with a surge of traffic and orders. As an Amazon seller, it’s crucial to capitalize on this momentum and make the most of the influx of customers. In this blog post, we’ll explore essential strategies to leverage the Prime Day success, including requesting reviews, optimizing your review funnel, running regular promotions, engaging with customers, and introducing a new promotional tool, Brand Tailored Promotions. Moreover, we’ll also discuss the significance of reflecting on Prime Day’s performance to prepare effectively for the upcoming major shopping days in Q4, such as Prime Fall Event, Black Friday, and Cyber Monday.

Requesting Reviews: The Key to Post-Prime Day Success
No matter the time of year, requesting reviews from customers is essential for building credibility and driving future sales. However, after Prime Day, when there’s an increase in shoppers, it becomes even more critical to seek reviews actively. Learn why this strategy is vital for your long-term success and how to approach it effectively.

Optimizing Your Review Funnel for Sustainable Growth
For sellers with a review funnel, optimizing it is a game-changer. Discover the power of welcome emails and value-added sequences, tailored to the type of products you sell. Uncover effective strategies for supplement and kids’ product sellers, such as health and wellness content or parenting videos, to keep customers engaged and coming back for more.

Embracing Regular Promotions: Coupons, Lightning Deals, and More
Now that Prime Day is over, it’s time to resume regular promotions. Delve into the different types of promotions you can run, from coupon clippings to lightning deals and best deals. Uncover the potential of subscribe and save coupons for subscription products and learn how to set them up for success.

Customer Engagements: Keeping the Momentum Going
With the influx of traffic during Prime Day, you likely gained new store followers and potential customers. Learn how to set up effective customer engagement campaigns to nurture these relationships, bring customers back to your store, and boost your sales. Discover the optimal frequency for customer engagements based on your catalog size.

Introducing Brand Tailored Promotions: The Future of Discounts
Post-Prime Day has brought us a new promotional tool called Brand Tailored Promotions. Dive into this beta program that offers exclusive discounts for past and prospective Amazon customers. Learn how to leverage this tool to increase brand loyalty, bring back past customers, and entice new ones. 

Preparing for Q4: Reflecting on Prime Day for Black Friday and Cyber Monday Success

As we approach Q4, it’s time to reflect on your Prime Day strategies and apply successful tactics to Black Friday and Cyber Monday. Discover the importance of early preparation and how to work on your marketing materials, customer engagements, and Amazon posts to make the most of these major shopping days. 

Navigating Inventory Challenges for Q4
One of the most critical aspects of Q4 preparation is managing your inventory effectively. Get insights into how to handle inventory shipments for Prime Fall Event, Black Friday, and Cyber Monday, taking into account lead times and inventory cutoffs to ensure a smooth and successful Q4.

Post-Prime Day success hinges on capitalizing on the increased traffic and orders. Requesting reviews, optimizing your review funnel, running regular promotions, and engaging with customers are crucial strategies for continued growth. Additionally, the introduction of Brand Tailored Promotions opens up new opportunities for discounts and customer retention. As we prepare for Q4, it’s essential to reflect on Prime Day’s performance and prepare in advance for upcoming major shopping events. With these strategies in place, you’ll be well-equipped to make the most of the holiday season and achieve long-term success as an Amazon seller.

https://youtu.be/HfsEOLiqqAE

Kick Further:
Revolutionizing Inventory Financing

Kick Further is a unique funding marketplace that provides capital for businesses to produce inventory that they need to sell at a future date.

Many businesses face a cash gap between paying for raw materials or finished goods and receiving the proceeds from sales, especially as they grow. Kick Further offers an inventory financing marketplace to help businesses access capital using inventory as the vehicle.

Besides Kick Further, there are other types of funding options for Amazon sellers to consider. These include Amazon’s collaboration with Goldman Sachs for proactive funding offers to sellers, revenue financing, loans from friends and family, equity raises through venture capitalists, and traditional bank loans or lines of credit. Each option has its own advantages and considerations, such as cost, eligibility, and the value-add provided by the funding source.

When it comes to seasonal fluctuations in demand, sellers should consider partnering with a financing company like Kick Further or planning well in advance. The ideal time to secure financing depends on production and shipping times, ensuring that sellers have enough buffer inventory and can avoid stockouts. Managing cash flow and financial projections is crucial to avoid negative impacts on credit. Sellers should focus on maintaining healthy margins, paying obligations on time, and being realistic about growth and debt.

To leverage Kick Further for rapid inventory turnover and prevent sellouts or fulfillment delays, sellers should plan their orders well in advance based on production and shipping times. It’s important to have enough buffer inventory while avoiding excessive storage fees. Kick Further offers resources on their website for sellers to better manage their inventory and financing needs.

The pandemic has created both challenges and opportunities for financing. While increased strains on the supply chain have led to a higher demand for financing, some businesses have faced difficulties due to changing sales patterns and overstocked inventory. Kick Further primarily focuses on businesses that are confident in their ability to sell through new inventory and facilitate growth.

https://youtu.be/_qUSW3xexjo

Maximizing Amazon’s Tools for Your Brand

Amazon has become a crucial avenue for businesses to reach a wider audience and drive sales. Whether you’re an experienced seller or just starting out, it’s essential to understand and leverage the various tools and features that Amazon offers.

Amazon’s Brand Registry provides sellers with a range of tools tailored to enhance brand visibility, engagement, and performance on the platform. Let’s explore some of these tools:

Brand Registry-Specific Tools:

• Brand Dashboard: This includes the customer review dashboard, where you can respond to reviews of three stars or below, and brand analytics, which provides valuable data about your brand’s performance on Amazon.
• Customer Engagements: This feature, which is not available to everyone, allows you to send emails within Amazon to drive sales.
• Amazon Storefront: This is a brand-specific tool that provides a landing spot for your brand on Amazon.
• Amazon Posts: This feature, is Amazon’s version of Instagram, it allows you to post on your storefront while also pushing the content in different placements throughout Amazon.
• Advertising Tools: These include sponsored brand ads, sponsored display ads, and Amazon attribution, which tracks the success of your external marketing efforts.
• Listing Tools: These include A+ content, Premium A+ Content, brand story, and video on the listing, all of which can enhance your conversion rates.
• Brand Support: This includes two levels of support for brand-registered sellers – seller support and brand support. The latter can be accessed at brand services.amazon.com and can be used to report IP issues.

Amazon Promotions:

• Lightning Deals: These 12-hour opportunities can feature your product on Amazon’s deals page.
• Best Deals: Formerly known as seven-day deals, these are located in the deal section under advertising with Lightning Deals. They run for 7 days on the Amazon deals page.
• Coupon Clippings: This promotional type can help your product stand out in the search results by offering a dollar-off amount or percentage-off amount.
• Subscribe and Save Coupons: These are designed to encourage customers to subscribe to your product.
• Prime Exclusive Discounts: These are great for events like Prime Day, Black Friday, and Cyber Monday.
• Promotional Codes: These promotions are best used for external efforts where you can provide a private promo code that only certain customers have.

Remember, no matter how long you’ve been selling on Amazon, it’s crucial not to overlook these tools that Amazon provides. If you have any questions about how to best use these strategies for your brand, don’t hesitate to reach out to your coach or support team.

https://youtu.be/O4-zI0lxkx4

Accrueme: Exclusively Providing Amazon Sellers with Interest-Free Financing

How Accrueme’s interest-free financing differ from traditional financing options for Amazon sellers

Don Henning, the founder of Accrueme, a company that provides financing for Amazon sellers, was interviewed on the Amazon Playbook Podcast. Accrueme offers a unique financing model that does not charge interest, fees, or monthly payments. Instead, Accrueme earns a percentage of the profits that sellers make with the money they borrow. This model is designed to be more beneficial for sellers than traditional financing options.

Accrueme is the only company that offers this type of financing for Amazon sellers. The company has been in business for 4 years and has helped over 1,000 sellers grow their businesses.

To qualify for financing from Accrueme, sellers must have a minimum of $20,000 in monthly sales and have been selling on Amazon for at least 6 months.

The podcast episode highlighted the following key points about Accrueme:

• Accrueme’s financing model is unique in that it does not charge interest, fees, or monthly payments.
• Accrueme is the only company that offers this type of financing for Amazon sellers.
• Accrueme has been in business for 4 years and has helped over 1,000 sellers grow their businesses.
• To qualify for financing from Accrueme, sellers must have a minimum of $20,000 in monthly sales and have been selling on Amazon for at least 6 months.

If you are an Amazon seller who is looking for financing, Accrueme is a great option to consider. The company’s unique financing model can help you save money and grow your business.

https://youtu.be/6eO9zqsheHc

Amazon Introduces Subscribe & Save Coupons

New feature lets customers save money on eligible products

Amazon’s introduction of subscribe and save coupons is a major update for subscribe and save brands, aiming to boost subscriptions and customer lifetime value. These coupons are accessible through the coupon dashboard under the advertising tab. Users can customize the coupon by specifying the discount type (percentage or dollar off), duration, and budget. The coupon appears as an orange badge with the message “save an extra $X on your first subscribe and save order,” but it can only be used for subscriptions, not regular purchases.

The possibility of combining these subscribe and save coupons with prime exclusive discounts is currently being tested for potential use during Prime Day. The effectiveness of percentage off versus dollar off coupons should be tested, although dollar off coupons are generally preferred due to simplicity. The discount range for subscribe and save coupons spans from 5% to a maximum of 50%.

Tracking the performance of these coupons can be done through the coupon clipping dashboard, but evaluating their impact on subscriber acquisition requires monitoring subscription numbers. Comparing the percentage increase in subscriptions during the coupon period to regular months helps gauge the effectiveness of the coupons. Employing this strategy for all subscribe and save products can greatly enhance customer acquisition and subscription rates.