Scott’s so excited about this episode (what’s new?) because it features feedback and insights from the TAS Facebook group. Scott asked the community to share any product flops they’ve had in the past and exactly what went into the product’s failure. The major things that were shared in that comment thread are what Scott’s sharing on this episode. It’s the top 7 reasons that the entire Facebook community came up with as to why products have failed. This isn’t theory, this are real life scenarios that real Amazon sellers have experienced. You’re going to get a ton out of this episode so make sure you listen.
How important is it for your product to be in demand on Amazon?
Scott has covered this issue many times under many different names or descriptions, but the main point is this: You have GOT to know how to determine what the true demand is in the product niche you’re considering. It’s about MARKET, not about individual sales. If your product is going to be successful you’ve got to know how the product is selling throughout the entire market. That will tell you the demand for your product and whether it’s even worth it to pursue the product at all. Scott walks you through exactly how to figure out this issue on this episode, so don’t miss this fundamental step.
What is considered copyright infringement on Amazon?
Did you know that if you include the brand name of any of your competitor’s products in your product title or listing, you could be banned for copyright infringement? It’s true! Some of the TAS community members were humble enough to share that as a reason their product flopped. Amazon takes this issue very seriously so make sure you listen to this episode to hear how Amazon views the use of trademarked or copyrighted names and how you can avoid any kind of Amazon-slap on your products!
Seasonal items are a blessing and a curse at the same time.
It is great to sell something that you can count on having a high sales volume at a certain time of the year. Snow shovels would be a great example: You know you’ll get a ton of sales during the winter… but you also know that it bites the other way, you’ll get absolutely NO sales the rest of the year. Some of the TAS community members said that their biggest mistake was relying too much on seasonal items without other products to fill in the lean times in their revenue stream. You can hear their lessons learned on this episode and receive Scott’s input on how to avoid that kind of bottleneck on your own product line.
What does it mean if all your competitors have 500 Amazon reviews?
Imagine that you’re researching a new product possibility. You find one that you really like, can get at a very affordable cost, but aren’t quite sure if you should do it. When you look at the competition, you see lots of sellers and even the ones who are 9th or 10th in seller rank have 500 or more product reviews. What are you supposed to make of that? On this episode of the Amazing Seller Scott reveals that it’s an issue of TOO MUCH competition. If you jump into a market like that, you won’t have a chance of getting your products to the top without a lot of headache and expense. Find out how to avoid this mistake, on this episode!
OUTLINE OF THIS INTERVIEW EPISODE OF THE AMAZING SELLER
- [0:05] Introduction of this episode.
- [1:10] A shout out to the TAS Facebook community and changes being made to avoid SPAM.
- [3:00] Way to go Thomas (a TAS community member)!
- [5:49] A few more LIVE WORKSHOPS will be happening… get involved!
- [6:29] The issue of demand: How important is it?
- [12:56] Watch out for copyright infringement.
- [14:32] The danger of an oversaturated market.
- [18:04] Spending too much on PPC (Pay per click) because there’s too much competition.
- [22:15] HAZMAT restricted products are an issue!
- [23:15] Relying only on seasonal items.
- [26:50] Too many reviews on a product, through all sellers, is a bad sign.
- [28:30] The power of FLOPS and how you can learn from them.
LINKS MENTIONED IN THIS EPISODE
www.TheAmazingSeller.com/56 – Episode with Greg Mercer about “demand” of products.
www.TheAmazingSeller.com/FB – the TAS Facebook Community
The Google Adwords Keyword Tool – https://adwords.google.com/KeywordPlanner
Google Trends – https://www.google.com/trends/
Amazon Hazmat List – https://www.amazon.com/gp/help/customer/display.html?nodeId=200339720
The Facebook thread all these ideas came from: https://www.facebook.com/groups/TAS.Private.Group/permalink/537142859787185/
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