Scott has been hosting the TAS Power Hour on Fridays at 1PM EST and the response has been great. This episode of the podcast is a replay recording of one of the recent power hours where he and his friend Chris Schaeffer discuss a handful of important strategies you can use to increase product sales on and off of Amazon. You’ll probably hear some ideas on this episode that you’ve not heard before and Scott and Chris walk you through the steps it takes to put most of them in place and begin profiting.
The benefits of live events and why TAS Breakthrough LIVE is a BETTER event.
Scott and Chris recorded this episode of the podcast live at a conference that the two of them attended together. The things they heard and experienced at the event caused them to chat about the benefits of that kind of event and why Scott has put together a different kind of event. You’ll be intrigued by their ideas and the benefits of a low number, hands-on event like Scott and Chris hold frequently. Find out how you can get into the next TAS LIVE event on this episode.
How content overload can lead to content paralysis.
One of the things Chris and Scott realized as they experienced the Content and Commerce event was that events (and podcasts) can provide so much content and great information that the people attending or learning can become a bit paralyzed. They don’t know where to start, what step to take first, how much of what they’re learning applies to their current situation, and more. On this episode the two of them talk about that situation and why they take care not to let themselves get into a place of paralysis. You’ll learn a lot by listening to this one.
The impact of variations in product sales.
You’ve probably heard Scott talk about the addition of product variations to your product line. What are the benefits of adding variations to your products? Does a variation actually add to your workload of stocking product SKUs without adding much financial benefit? There are many concerns about the approach of product variations and Scott and Chris address all of those questions on this episode of the show.
Why an email list is your most valuable asset.
Chris Shaeffer has said it before and he’ll continue to say it: Your email list is the greatest asset your business owns. On this episode, as he and Scott talked about the importance of an email list for any business that sells products or services, Chris covered how you can use your email list to target your audience through platforms like Facebook and how you can also use it to create what’s called a lookalike audience of potential customers who could quickly and naturally opt-in to your email list – and it all starts with compiling your own customer list in the first place. Find out all the details on this episode.
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:03] Scott’s introduction to this episode of the podcast!
- [3:30] Thoughts about the event Chris and Scott attended.
- [8:30] How content overload can lead to content paralysis.
- [18:47] Recommendations about whether to hire a VA to do product research.
- [19:47] Tools to forecast sales projections and how to expand product lines.
- [26:09] How variations impact your sales numbers.
- [30:00] Why email lists are your most valuable asset.
- [36:09] How a bundle giveaway could work for an email list lead magnet.
- [40:25] The possibility of Amazon lightning deals to spike BSR, sales, and reviews.
- [51:32] Understanding what a product line really IS and why 3 is an ideal place to start.
- [53:45] How to integrate recurring sales into your business model.
- [58:35] How bloggers can integrate private label sales into their platform.
TRANSCRIPT TAS 264
TAS 264 : (TAS Power Hour #3) Next Level Stuff – Beyond Amazon – eCommerce and Conference Takeaways
[00:00:03] Scott: Well hey, hey what's up everyone! Welcome back to another episode of The Amazing Seller Podcast. This is episode number 264 and today I'm going to share with you another TAS Power Hour that we recently recorded and I have to say I've been getting a ton of positive feedback on these…[read more=”Read full transcript…” less=”Read less”]
…round tables that we've been doing. If you guys are brand new and you guys don't know what I'm talking about, we started this about three weeks ago. Actually, maybe four weeks ago. We've been playing around with this idea of hopping on a call, usually it's me, Chris Shaffer and Dom Sugar, the Candy Man.
We really get on and just talk about things that are happening in the week or just things that are happening in our businesses or other people's businesses that we're working with. Really just a way for us to talk on a weekly basis and you guys get to listen in. Well, this past week that I'm recording this actually, we were actually me and Chris were in Orlando Florida at a conference. The conference was called Content & Commerce. It was a pretty good conference but the big thing that I took away there is getting together with like-minded people is really, really powerful. You're going to hear all of the different takeaways that we talk about in this episode.
You're going to hear about next level stuff that we talked about before but we’re amplifying it now. How to grow your business beyond Amazon and just a whole bunch of other really random topics that's about e-commerce and business and content and sales funnels and just all kinds of stuff. It's a way for us to talk about this stuff and then publicly have you guys included. If you guys want to join us on an upcoming one, totally free and random by the way, but it is Fridays' at 1 o'clock PM Eastern Time it’s when we go live. There will be a recording right here, it's also on YouTube, it's also on Periscope, Facebook Live but you can head over to theamazingseller.com/hour, that's theamazingseller.com/hour.
[00:02:05] Scott: What that will do is it will bring you to the TAS fan page, not the group. It's the fan page and if you like that page, then you'll be notified when we go live. That’s it. It's that simple. Go ahead and do that if you want to be notified of a Facebook Live when we do the next TAS Power Hour which should be Friday at 1 o'clock PM eastern time. Really, excited to share this with you. I am going to stop rambling here really soon because there's a ton that we talk about and it goes pretty long. Just want to prepare you as well. You may have to take this in a couple of different bites but there is a lot of great information that we share here. If you want full transcripts of this or you want to watch the full video of Chris and I together side by side in the same room, talking about this stuff, you can head over to theamazingseller.com/264.
That's the episode and that's where you'll find all the transcripts, the show notes and that video that we're going to post there as well. Then one last thing, really quick our live even that we're going to be in the same room together with 30 other entrepreneurs or ecommerce business, Amazon businesses, you can head over to theamazingseller.com/live and learn about those details which will be coming up soon in November, November 5th and 6th in Phoenix Arizona. That's it guys, I'm going to stop rambling because you guys got to listen to this episode, it is really, really killer. Enjoy and I'll talk to you really soon.
[00:03:30] Scott: I think what we want to do t though today, Chris really is talk a little bit about what we've been taking away from being here but also what's also confirmed as far as the things we might have already been thinking about as far as Amazon is a great place but more than Amazon. Private labeling can be done on your own platform. A lot of people think that that's the only place where you're going to be launching products is Amazon. That's not what we've ever said. We think it's a great place because you don't have to do the technical things. You don't need to have the website, you don't need to have the traffic, you don't have to have the merchant account. You don't need have any of that stuff, email list or any of that right now and that's what makes this so beautiful.
Again, we talk about how do you find products and is it too saturated and all this stuff. I want to dig into that because some of those things were also discussed. Some of the things to make it so you don't have to rely only on Amazon but you can still start there, you can still find products I think it's something I'd like to reflect back on. As you guys are out there, we're also missing Dom Sugar today. Dom Sugar could not be here, he will be in Arizona though. We will be meeting up with him in Arizona. What’s that… “Cool shirt Scott, where’d you get it?” I know where I got it. I got it in Upstate New York, Lake George one of the outlets up there. Thank you. Uh, oh, we've got a phone call coming in but I'll decline that call. There we go.
[00:04:59] Chris: They can listen into. It’s fine.
[00:05:01] Scott: This is totally live. Hey Nick, what's going on? Josh what's happening. Sam, what's up! Periscope, go ahead, type in where you're tuned in from or whatever. We'd love to hear from you guys as well. We've got our badges on, by the way. Content & commerce. First I want to talk about an event like this. What's your thoughts on going to an event with like 1200/1300 people?
[00:05:27] Chris: I think there's two sides to it. I've been in the game long enough that some of this content doesn't apply. An event like this is great but it's a lot of higher level content. It's not necessarily, now today is a lot more actionable type like tactical level stuff than yesterday was. Yesterday was a lot of theory, a lot of strategy. I think there's something that's lost in the event that's this big versus a much smaller group. Now, the other thing is cool is you get to run into people that you would never run into in a 20 person event. There are people here who do billions online, who probably aren't going to come to a 30/40/50 maybe even a 500 person event but they are going to come to something like this because they know somebody who know somebody or they know a speaker or they know somebody like that.
That's really cool and you get a chance to network with those people. At the same time, the content has to be a much broader appeal. We've covered anything you could possibly think of in a hundred different generations and so it's not quite as actionable as something like the podcast where it's basically a one on one interaction even though there's thousands of people who listen or something like a TAS Breakthrough Live where you have 30 people in a room.
[00:06:34] Scott: You know what, I have to say. The reason why I wanted to do an event like a 30 person event is because this here is great but for me personally, I'm sitting here in the audience will I pretty much have really good idea on what you have to do. Actually, we had a lot of things that we took away that we're going to be implementing as soon as we get back because we were like we know all this stuff like, why aren't we doing it more? My big take away, one of my big takeaways was I love this to be able to get and hang out with like people I know like Chris Shaffer who’s getting re-situated here with pillow and being able to hang out with people like that, we were able to be with a couple of his team members here as well which are also helping us in TAS now as well, which is awesome. We had dinner last night.
Those things are priceless, met up with Steve Chou, you guys might know him from ‘My wife quit her job’, Ryan Daniel Moran, I talked to him for a while yesterday. There's some really good people that I'm able to connect with, which is awesome but what I really like about our type of stuff because that's what I want and that's what I'd want, is actually let's like map out a plan and a strategy and let's answer questions, let's build this thing together. Let's build it together and let’s take it through like what would it look like if we were to do this right now. That's what TAS Breakthrough Live is really about, ten hot seats, we get to break down ten businesses, we get to look and see exactly what they're sticking out or what their struggling points are and then we get to dive into those problems.
I love that because, well Jared he came to our event all messed and had with all this different stuff and then we channeled him, now he went back and now he's doing $20k a month. That's what was really, really awesome but the second part of our event which I really like is, and this is what made me think about this… This event is great but there's like 1200 people in a room. How do you connect with them?
[00:08:25] Chris: The only way to do that is to do a shotgun spray of content. You can't focus. That's the thing with a lot of these conferences and you guys ask us a lot and I get questions all the time like, “Should I go this conference? Should I go to that conference?” I saw that question on Periscope about Seller Summit. There’s a lot of great conferences that are out there but the problem is you get information overload and then you get information paralysis. I have a team of four people here, including me. We're not even going to every session, like there's just that much content and so they have, “You have the keynotes, you have all that stuff.” You have to pick and choose what you're going to do and make it actionable. It's both a pro and a con because you can pick your own path.
You want to say I want to only learn about video, you could come here and learn a lot of things about video but you're not going to get any interaction other than if you catch the speaker after lunch and you buy him a drink. What I like about something like TAS Breakthrough Live and I like doing these, you guys can ask us question, we can respond to it directly and TAS Breakthrough Live we can actually breakdown the business and you get access to Scott and I directly and you get access to other sellers who are in the room who may have gone through a problem that we haven’t gone through.
You don't get that kind of interaction. What I like about that is it's more of a workshop than a conference. A conference to me is, for lack of a better term and the reason you and I came is it's an excuse to get together with other people. A workshop, we’re there for a very specific reason. We know at the end of this weekend, we're going to be through ten different businesses or we know that you guys are going to come in with a sticking point like Nick Campbell or even Bill came with some issues. David Mackay. Everybody…
[00:10:04] Scott: He's coming back too by the way.
[00:10:04] Chris: He just said he's waiting at the hotel already,
[00:10:07] Scott: At the Arizona Grande.
[00:10:09] Chris: You're going to be there about two months.
[00:10:12] Scott: Hey, Bill just to let you know too Jimmy is right behind the camera here. Hey Jimmy why don't you make a little cameo? Why don't you make a little cameo? Come on over Jim real quick. Let's get Jim in the shot here. Come on in, come on in a little bit. Jimmy, Jimmy. He's the guy that's helping us coordinate the Arizona event and everything so want to give a little shout out to Jimmy. He's our guy that's doing a great job. He's doing another great job and Bill is definitely coming so awesome. Look at the thumbs floating across, it’s nice.
[00:10:43] Chris: I’m just glad it’s a thumb and not a different finger.
[00:10:46] Scott: Here's what I want to do though before we keep going here. This is Friday, we weren’t' sure if we were going to do this today. We are missing Dom who's on Periscope by the way Dom, sorry brother, wish you were here. It is Friday, it is 1 o'clock and we stuck to this, we wanted to keep doing it. Look how all these different emojis going across the thing here. This is exciting. Look at this.
[00:11:09] Chris: I think we should do a competition here…
[00:11:10] Scott: We should do a competition. Periscope, we have about 48 live, we’ve got almost 50, we got 39, 40 on Facebook. We want to get these numbers up a little bit. Why don't we share this? Why don't we share on each platform whether you're on Facebook or whether you're on Periscope, go ahead and share this. Share it with someone that you think would get value from this and let's get those numbers up a little bit. Let's grow this. Some of you in here say, “Love these Friday afternoon shows…”
[00:11:38] Chris: This is the third one so…
[00:11:42] Scott: If you want more of these, you got to show up. We're doing this for you guys as well as we want to sit here and talk about it because we're doing this anyway. We were sitting here, well, let's see last night until about midnight talking, brainstorming, talking about different things about this and it's about getting excited but it's also about then what can we implement right now. Someone's reaching out. Listen, these takeaways that I'm looking at myself personally is like there's a lot of stuff that we already know but we want to hear it again and again or maybe a different angle or maybe you weren’t' there at that particular spot at that time. I've had people say, “Scott I listen to your podcast, I've went back and listened to the launch one like a four times because I'm at a different place or I want to do it a little bit differently.”
If you're always open to learning as well it's going to benefit you but the one thing I think here again going back to the event and how you can take away because someone said, “I'm brand new, would you go to an event like this?”
[00:12:45] Chris: Like this? No.
[00:12:47] Scott: I'm glad you said that because I don't want to sugar coat it.
[00:12:51] Chris: Honestly, I saw some people and it’s the same thing at Seller Summit, great event but there were a lot of people who were in the analysis paralysis problem and coming to an event like this you see Facebook and you see YouTube and you see LinkedIn and you see eBay, Amazon, Buy.com, all of those places and you go, “Where do I start?”
[00:13:12] Scott: Wait a minute, I'm going to cut in here. I'm going to challenge you on that one. Sellers Summit the reason why I like that one, number one it's 100 people, smaller. Two, it was broken up into different tracks you had one track that was a newbie. One that was just starting track and then there was another track of advanced techniques. This event probably could have did a little bit of a better job with that. There was a lot of broadness, not a lot of like this is what you need to do.
[00:13:47] Chris: Especially yesterday, today was a little bit better and I agree with you on Seller Summit. An event like that because it is smaller ecommerce focused, it's okay but I'd still rather have like a completely focus on Amazon event or a completely focused on getting your like to me I think you workshop type stuff, just works better especially if you’re starting. This type of an event, Content and Commerce, if I was a CMO of a $62 or $100 million year e-commerce company, which there's a lot of them, this would be an amazing event because you get to learn about the targeting. All of these things that you heard about, you get to hear about specific application of one of those things and jump into a different track. Honestly I think if I wasn’t at the level that I'm at and if you weren’t at the level you're at this would be an overwhelming event for us.
[00:14:33] Scott: Well, it's still overwhelming
[00:14:34] Chris: It’s still like I don't even know where to go.
[00:14:37] Scott: I'm like there's so much that I can do. I was walking yesterday with Jim and we're sitting there, we're talking and I'm like, “The problem isn't the ideas, it's the problem of how much of them can you implement?” If you had so many, you don't do any. That’s Ron by the way. If you have so many, you don’t do any.
[00:15:03] Chris: Apparently we're running short of material.
[00:15:05] Scott: That was good man, come on. It's like there's so much stuff that we can do. We met people yesterday that we could and we may even partner with a little bit. They've got like a massive email list, they know how to drive traffic but they don't really want that hassle of private labeling. We do. We like that. We like building sales funnels, we like doing all that stuff.
[00:15:34] Chris: One of the things that’s funny is like this is an event put on by Digital Marketer. Digital Marketer actually owns a whole bunch of their own sites but the thing that's funny is a lot of the speakers are, that's $60 to $100 million plus ecommerce company employee or CMO or something like that. It's funny to hear them say, “The strategy is amazing but it works better like if you own…” The next time maybe we'll do this we would own our own product instead of selling someone else's product. Maybe like go to a manufacturer and I’m like, “Let's private label.” That's why we do the things that we do.
[00:16:07] Scott: Customize your product.
[00:16:10] Chris: It gives us that control. One, it's funny to see that the guys that are doing like $60 or $100 million are like, “Maybe we should private label,” and we're like, “Maybe we should do this thing.” We're like, “Okay, we can scale this to $100 million.” It's not undoable and the thing that's interesting is we actually have a leg up because they're trying to learn Amazon. We've already figured out Amazon. That's 50% of your sales. If you can get Amazon down then you can take that data and that information and start to actually apply it in your business and start to do those things in other channels.
Go to your eBay, your Rakuten’s, build your own ecommerce site, build your own sales funnels. You can use what you learned on Amazon very in a very low risk way with… The biggest risk in Amazon is the time. Even failure products a lot of times most of the time you'll get your money back, we’ll make a little bit of profit and so the biggest risk is your time. Once you find something that succeeds you can take it and you can scale it very, very rapidly using some of these other platforms.
[00:17:08] Scott: Are you guys a couple?
[00:17:11] Chris: I think both of our significant others think that we are because we probably talk to each other more than we talk to them some weeks.
[00:17:19] Scott: On Periscope, I'm looking at Facebook Live but Periscope tap it up, I need to know that you guys are there because I didn't see any hearts because I think people are listening.
[00:17:32] Chris: Facebook you guys got to beat them though. You can like us, do whatever you got to do.
[00:17:36] Scott: Cool. Do you guys like baseball? Yes, I do and the Yankees got beat last night which I was very upset about.
[00:17:43] Chris: He's very bitter and angry this morning, that’s fine.
[00:17:45] Scott: The Jets won though which I’m not a Jet’s fan but it’s a New York team. Questions on Periscope maybe you guys can submit some if you have some. Facebook live, you guys as well, why don't you scroll through and maybe we can grab a couple of those, go Indians.
[00:18:18] Chris: What was the website for that summit? What are you doing there? For this one it's ContentandCommerceSummit.com. I'm not sure which one you're talking about. If you let us know again we can tell you what it was. Looks like we have Marie who is actually prepping her product for Amazon, which is really cool. Victor wants to know, “Scott recommend the hiring a VA for products’ search and teaching them recommended metrics, you guys propose?” I’ve done that, I wouldn't do it until you're up and selling. It's really nice to have somebody that can just go out and build your list of potential products down the road.
Honestly you should be able to build that list pretty big just from things like your touch list, walking through Walmart, walking through Target, walking through Tesco if you're in the UK. Any of those places, you can build your own list that way. Once you've worked your way through that list, you have a product that's up and selling, having a VA can be very beneficial and actually we have a video inside the classroom inside how to teach a VA, like the actual video that my VA uses on how to do that.
[00:19:19] Scott: I want to say we're actually in the process right now of doing something like that because I like, I enjoy finding those new product ideas but I don't really like as much reaching out to the suppliers. Now, what we're doing is we're trying to get a VA to take that list, reach out, narrow down the top three suppliers and then we'll hand them off to the next person in line. That's really what we're trying to do there. Let's see, what else we got?
[00:19:48] Chris: It says, “Do you use a tool to forecast projections, like inventory projections?”
[00:19:52] Scott: That's funny, we just talked about that too.
[00:19:53] Chris: We actually did… There’s a couple of good ones out there for my own business, I honestly just use a spreadsheet. I've been around long enough to know when I’m going to need stock in and stock out. Some of the newer products it's hard to forecast like if you're just launching a product, it’s almost impossible to…
[00:20:07] Scott: There's one called Forecastly.
[00:20:09] Chris: Forecastly, that's the one I know a lot of people use and like and love. Albert says, “We're doing $90k a month” which rocks! He says, “I’ve checked out Hello Profit, Forecastly, but that doesn’t factor in all the expenses of our business.” Honestly I don't have a tool to recommend to you for that. I use a spreadsheet, I know a lot of people use spreadsheets or an accountant or something like Forecastly and then you say, “Okay, here are the other expenses.” In something like Hello Profit you put in your product cost, so you can factor in whatever expenses you need to into that and you'll be able to do it that way. I saw a question on Periscope that says something about, “I am doing $8,000 a month or a day,” did you catch that one Jim? The first question there, and this is something that we get a lot.
[00:20:55] Scott: How much are they doing?
[00:20:55] Jim: $8,000.
[00:20:56] Chris: $8,000 in a month. You’re doing $8,000 a month, congratulations. And you get to hear Albert doing $90k, so you know there is room to grow there.
There's a couple of ways to scale and it just depends on what you want to do. The first one is you can launch more products. I don't know how many products you have that are getting you to that $8K. If you have anywhere to expand that product line that would probably be the first place that I would start. Look at your frequently bought togethers, look at all of those things and see what the next product in that line is and that’s another thing that validated a lot of things that I took away from this conference is having that product line is really important. One of the things you guys hear all the time from marketing people is like it's a lot more expensive to acquire a new customer than it is to get an existing customer to buy again. It is true and if you have a line of products at some point they're going to need the garlic bag and this is an example we use all the time and I honestly have no idea what the heck a garlic bag is.
[00:21:51] Scott: Stores garlic.
[00:21:51] Chris: It's a storage bag for garlic. I'm pretty sure that's not an actual thing but if you're selling the garlic press you also at some point need to be selling the garlic bag and maybe you go as far as selling the chef's knife and the cutting board so that you can get the skin off before you put I don't know if do you skin garlic before you put it through a garlic press? I always do maybe I'm just a terrible chef.
[00:22:14] Scott: If you want have less mess I would just peel it like, just crush it.
[00:22:21] Chris: It is a cooking show. You can expand your line to even something like that to closely related products and the fact is your customers are going to need those products at some point. If you created a good experience for them with the first one, they are going to come back to you and they're going to buy from you again. That's not just powerful on Amazon, that's extremely powerful as you start to move into your own channels. Having that, “What's the next thing I can sell that will be a logical extension of this line?” That's extremely powerful.
[00:22:50] Scott: I want to give out a little shout out to my daughter she goes, “Hey dad, what's up?”
[00:22:53] Chris: Which one?
[00:22:53] Scott: Alexis. Not, Kayla, she's in school.
[00:22:56] Chris: That's why I was asking.
[00:23:01] Scott: I want to say hello. @Lisa? No. That was who?
[00:23:11] Scott: So it's my son. I guess it's my son using my wife’s' phone. Hello everyone at home.
[00:23:22] Chris: Albert who’s at $90k for you guys who are on Periscope you can’t see this, he is in the Facebook Live chat, he said he only has four products doing $90k. For you Albert, I would still look at expanding that product line.
[00:23:30] Scott: How many products does Albert have?
[00:23:32] Chris: Four.
[00:23:32] Scott: Four products. How many products does the $8,000 person have?
[00:23:36] Chris: I don't know. He's on Periscope.
[00:23:38] Scott: Let's try and get that answer and whoever that was I didn't get your name because it just goes fast. We can, oh, six, Charles. Is that you Charles is doing the $8,000? Let's see if we can get that answer. One thing that was really interesting too, I want to talk about… So Charles has six products doing $8,000. Are they individual like listings or are they variations of one product or…? That's another question I would say. The other thing is that I wanted to touch on though really quickly is the Ali Express thing is if we take the Ali Express thing which I thought was cool is to you use that product as maybe they call it a ‘trip wire' type thing but to make it easier for you guys to understand, more like a lead in offer.
You could offer whether that's on Amazon or whether that's off of Amazon that will help people to get to your products. It's another way to bring awareness to those products. Remind me about the lightning deal as well too. I want to bring that up and share the results that we got accepted for lighting deal. It went okay but the sales were definitely went up for the day. Six products we didn't hear if they were all variations or not. 70 SKUs for Albert.
[00:24:46] Chris: Yeah, there are color variations for Albert. That's something that's interesting and it is something that a lot of people overlook and I know you guys probably sick and tired of hearing me hap about it. The variations are one of the easiest ways to scale their business. If you have six or eight products and you're doing $8k you can add variations to that and rapidly scale that. You add different colors, you can rapidly scale your products…
[00:25:11] Scott: You changed that. Who was it? Val, you changed Live from October to November. She's not going to be able to make it. Is that what she said?
[00:25:20] Chris: Six products and variations. In that case I would try to scale it on Amazon before you do anything else. There's got to be a lot of room for improvement there. Your PPC, your organic search rankings assuming there's some volume in that space. All of those kinds of things. I would start testing and tweaking maybe using something like Splitly and testing tweak that listing to really optimize that for conversions and then drive as much traffic as you can through PPC. Then start to maybe look at some of the other products, the line extensions then look at the off site stuff.
[00:25:54] Scott: Right. Are you breaking up over there, looking a little choppy? Mine is still flowing. I'm not on Wi-Fi. I'm using up data, I’m spending money data to give these people what they need. I’m not doing free Wi-Fi. Facebook Live if it's Choppy, it's his fault. Periscope, this should be smooth so that's on him. Charles says thanks, no problems. Smooth. Cool. You'll be just five minutes away from my house.
[00:26:30] Chris: It's an interesting question from Bill on variations. He says, “How can you get assured of that a variation doesn't turn into a lateral sale?” On Amazon you can't but the thing is that is actually a beneficial on Amazon. Variations aren't just going to take the same people who are coming to your listing and move them over. Sometimes they will and that's why twice variations are really cool. I can have advertise a $9.99 product that's a pack of one, garlic press and I can have a variation that's a pack of five garlic presses for $39.99 and in that case a lateral sale is actually an upsell. Same customer but they came in expecting to buy one they buy five.
On colors it's probably going to be a lateral sale but you also open yourself up, open some more traffic and you're going to get more traffic because you show up for more search terms. You are going to show up for this plus blue, this plus green, this plus red, all of those different things. You increase your traffic and even if you convert at the same, even if everybody buys something other than what they landed on, it doesn't matter because you're increasing traffic and therefore with the same conversion rate you're increasing sales.
[00:27:27] Scott: I know what Bill is saying though and maybe what you just said there you answered it but let me just say… I know what he's doing. Let's say for example you have one product that's plain and you have another one that's got a design on it. It's the same listing. You're going to have the same amount of sales because they would have bought this one but now because they have this one they bought this just instead.
[00:27:49] Chris: You’re not going to. Generally speaking. You're not generally speaking because you have a general listing that theoretically has different copy, it has some different search terms. If it's a green variation in a blue variation, they're going to be very similar but you’re going to appeal to different people and some of those people don't want just a green one. They wanted a blue one and they clicked on your listing to see if you had a blue one. You don't have the blue one they're not going to buy it. You may even see just a small increase in your conversion rate which therefore means you're picking a sale from someone who you wouldn’t have sold to otherwise. Does that make sense?
[00:28:23] Scott: Yeah it does. I still think that I know what he's saying because now if you don't really increase your sales by much you basically have two SKUs now that you have to keep in stock.
[00:28:39] Chris: If you don't see a sales increase.
[00:28:41] Scott: That's his concern.
[00:28:43] Chris: In that case you do test order and they're few cases where a popular product will see a decrease in sales or will see essentially flat sales when you add a variation because you show up for more stuff, you can run PPC to that variation and you'll catch, maybe you'll run it for the one with a pattern. Inside of the plain one and that’s going to stand out in the listings. That's going to increase your click through rate which brings you more traffic even if you convert at the same rate, you're going to get more sales. There's very rarely at least in the listings that I've worked in very rarely a drop or a flat. You see an increase even if you increase it by two sales a day. If you are only selling two a day of the new unity is it still worth having it? That's up to you. Over time, that goes from two to four to six to eight because you convert at a higher rate.
[00:29:34] Scott: Albert says here's an example. Combine two things like a swing and a swing strap or straps, Galaxy Glider Tree, I love tree swings kind of thing where you're going to be able to piggyback off of those different keyword terms but then also you're able to bundle it and give them everything packaged in one but yeah, you can still upsell them separately and that' a good strategy as well. So, Periscope, just want to remind you guys, tap it up, show some love there. Facebook Live you can do the same thing I don't know how you live hearts and the little emojis but go ahead and do that. Share this and let people know about it because if you do, we'll be coming back on Fridays at 1 o'clock PM eastern time. Next time we'll have probably Dom back on. How about a silicone garlic press? That sounds amazing.
[00:30:25] Chris: Sounds like it wouldn't work.
[00:30:28] Scott: You know what.
[00:30:32] Chris: Focus on email collection.
[00:30:32] Scott: Let's go there.
[00:30:36] Chris: This is actually a really good thing to talk about because if you guys were at TAS Breakthrough Live in Denver, you heard me say repeatedly that your email list is the single most valuable asset in your business. I said it last Friday, I said it this Friday, I'll probably say it next week. Your email list in an ecommerce business is the single most valuable asset. Not only is it an instant source of traffic, an instant source of customers but you can use Facebook custom audiences and target people who look like them and do all these different types of things that bring down ad costs when you're working on your own stuff.
It's always been a struggling point for Amazon sellers like people who are doing private label like us to collect those email addresses. One of the ways to do is with a product insert and it's totally cool with Amazon because you're the manufacture, you put it inside of your product, your manufacturer can work with a local printer or you can have your designer design it. It doesn't really matter who designs it, make sure it's in the product and quite honestly, I would have it in there as soon as you can get it. Don't let like focusing on that stop you from launching but I would get it in there as soon as you can get it in there.
[00:31:37] Scott: What do you think the easiest and the fastest way to start building your own email list in your market, what would you say. I just want to hear your take. I know we've talked about this but like right now if you're giving someone that's just getting started and they want to start building a little bit of an email list, of those people that they can then use them. We can talk about how we can use that list even if it's only 250 people we can talk about how we can use that but what would be the easiest thing?
[00:32:05] Chris: In this scenario do they have a product that's been selling on Amazon?
[00:32:07] Scott: Yeah, it's selling right now, maybe it's selling ten a day. Maybe 300 a month. It is but let's just say that even if it wasn't selling ten a day what could they do to start building an email list of their customer?
[00:32:22] Chris: The first thing that I would do, one obviously a product insert but the easiest way to do that… This is product dependant, which is why I asked that question. If you have a sales issue on Amazon is to hook it with something like Hello Profit or hook it up with one of those other tools that pulls all of your customer information from the API, which is fancy work for the Amazon back end. The thing that's interesting about that is that it pulls their phone numbers. This is a strategy we talked a little bit about TAS Breakthrough Live in Denver, you can take that list of phone numbers and use that because Amazon doesn't give you their customer email address, their Gmail, their Hotmail, their Yahoo.
It doesn't give you that. You can use those phone numbers, upload them to Facebook and then target them on Facebook with an offer in exchange for their email address, free product, discounted product. Let's say it's the garlic press, A 99 recipes guide. Something in exchange for their email which you hear talked a about a lot in the traditional internet marketing. It's a lead magnet. Something that's going to make them want to give you their email address and because you're targeting them based on their phone number, you know it's your customer already, Facebook matches that.
Okay, this is somebody who's already bought for me and then you can use that list to go out and start out building and building and building. I would target them on Facebook if you have their direct email address or if you have their phone number which you can pull from their Amazon back end you can target them directly with a very simple capture offer, whether it's an e-book or a discount. Discounts work really well.
[00:33:42] Scott: I think the discount, the reason why I like the discount a little bit better than the e-book right now is because it's a customer. Let’s say if somebody bought that product, we have two different two types of people here. We got a person that downloads the e-book which I think it's still valuable because then we can nurture then and get them to buy the product but then the buyer which can be 50% off or 75% off, if we're doing giveaways, the easiest thing that I would say for anyone doing right now even if you don't have product right now, go out and buy similar products in that space. If we're going into the fishing space I'm going to buy that fishing vest, some lures.
[00:34:12] Chris: You love the fishing space.
[00:34:13] Scott: I do love that because I started fishing the other week like three…
[00:34:17] Chris: Scott started fishing two days ago. He's got…
[00:34:18] Scott: I got three… I do. I went into the store and bought $100 worth of stuff.
[00:34:25] Chris: Build a fishing funnel and target it directly to Scott.
[00:34:28] Scott: Yeah, target to me and I'll put my email address there trying to win. Think about that though. Even if you're not launching yet your product but you wanted to go ahead and get this started and start learning the ins and outs, you can just go to Facebook and target these groups or these Facebook Fan pages that are already there and then put up that offer of a free whatever and that they’re interested. It's got to be valuable, it's got to be compelling, it's got to be something that's not just like 10% off. I'm not doing it for 10% off.
[00:34:57] Chris: The reason I disagree with you on the discount as like the default there and the reason I threw out the e-book ‘99 Recipes’ is if there's already a customer and you don't have like a multiple purchase product they might not need that ten percent. It might not be as compelling offer to them as an accessory to their product or something like that or the e-book in that case. If they're not already a customer that's when the 10% really comes in. You take that list and on Facebook I can do looks like. You can create a similar audience that's when I would immediately run 10%.
[00:35:34] Scott: What you're saying is if you already know that that's your customer, like if you have your customer list that you pull from Hello Profit and then you plug that in, we know that they’re a buyer. Rather than trying to get them to buy more necessarily because we already know they are a buyer, let's get them to download something so we can get their email addresses because we don't have their email addresses.
[00:35:50] Chris: The thing I care about in that scenario is getting their email address.
[00:35:56] Scott: Does that make sense? I want to get hearts if we makes sense and maybe some comments in the Facebook group.
[00:35:59] Chris: What I'm getting there is trying to get the lowest barrier to entry in exchange for their email. I want to get them value. 10% is value but I want to give them the thing that's going to make them jump right now. I don't necessarily need… If I bought Scotty V’s awesome garlic press, even at 90% off, I probably don't need a second one but you get it, I would just because it’s your face on it, it's engraved with your face. It's fantastic. I don't necessarily need that but I would want maybe a 50% discount on an accessory, the e-book that helps me use the product better. Some of those things but not having to spend money in exchange for the email, a lot of times we'll get a higher conversion rate and at point honestly it's what I care about them most.
The other thing that works really well, and this will work whether or not you have a product already but this would work for the customer list is the bundle giveaway. Let’s talk about that. We talked about that in the hot seat episode that aired on Monday in the fishing space. If we know we're going to launch a product in the fishing space and we want to build a list in advance, go buy some of your competitor's products or something’s…
If you're going to launch a fishing vest you get a rod, you can get a reel, you can get some flies, you can get a tackle box. I don't if you still use a tackle box in fly fishing because you have the vest but whatever. You can create those things in a bundle, you create a landing page and for those guys who don't know what a landing page is, it's a page that you send traffic to. It's the thing at the end of the link you click when they click Facebook. Very simple to do. You can use Click Funnels, you can use Ladpages. There's a couple of good pieces of software out there for that and you put a big picture of this bundle that you bought from Walmart or Amazon and you say, “Enter your email address for a chance to win this bundle.”
[00:37:45] Scott: Then put a date on there of when you’re going to pick that.
[00:37:47] Chris: With the little fancy countdown timer and say you have seven days to enter your thing. It might cost you 150 bucks to put the thing together plus the ad cost, but you're going to get emails. You can get emails. We did a test recently just for a product, just a straight to our product test and converted at like 20%. We were paying like $1 an email address which I know that sounds like, “Oh man, I'm going to spend $1 per email plus 150 bucks for the stuff,” but quite honestly, if you ever sell them one thing, if you get a hundred emails and you spend $150 bucks plus a $1 an email address, you're talking $250.
If you sell each one of those people one thing over the lifetime of them being a customer of yours, it pays itself back 10/15… Having that email address upfront comes in really handy and then you can use it for whatever you want on the back end of that funnel, you pick that winner, you send that on email to everybody. You say, “Hey, Scott Voelker won, congratulations to him. Here's a picture of him and his new fly fishing vest and hat and all the stuff that we gave him.” Maybe a little video of him fly fishing poorly. Then on the back of that you can say, “Look, thanks for all of your feedback. We know that you guys like these products, as a thank you for those of you guys who didn't win, we can give you 40% off on our new product which is an assortment of 40 flies. We know it might be something that’s interesting. You're going to recoup all of your ad costs and more most of the time through doing something like that.
[00:39:21] Scott: One little add to that, I would put like a limit to time. Put a little scarcity in there like for the next, maybe it's on the weekend and you say on Friday until the end of the week, until Monday we're going to run this thing. Then that will get them to actually do it. Then you'll recoup that cost.
[00:39:42] Chris: Omar says, “How do I actually the email address from that?” What you do is it's an email capture. They're entering their email address and I would try to get their first name too. Name and email address on that landing page. Even though you don't have their email, you have their phone number, you can run the Facebook book ad directly to them and then you can get them to enter their email addresses. You now know, you can… No you can’t map it back to an Amazon purchase but you know that they bought something from you on Amazon so you know they're already a buyer, which makes that email even more valuable and they've now opted in to get all your marketing and all of those kinds of things. You can start to sell them that product, other products every product that you can think of, you can go from there. Before we do, that’s the next thing I want to chat about, if you guys have questions let us know.
[00:40:25] Scott: You guys know that now most of us have that little feature there if you go up to the advertising tab, promotions tab whatever it's called and you have a drop down menu and it will say, lightning deals. Then if you have any products, if you have any history of sales and happen to be within a certain range it will let you if you have any products that qualify for this. Doesn’t mean that you're going to get it approved. It just means they qualify to their standards. I have a few of mine. I think it's four or five SKUs.
I did have a bunch of this one in there. It was a four variation, I've a bundle and then three different variations of it. One of the variations was qualified for it. I submitted it. I think it took about a week, maybe two weeks before it was finally approved and then set a date. It was like a three week process but it still tells you that date. We ran it and I gave 100, I was willing to give 100 so I didn't run out of stock, I didn't run out of inventory right away either. I wanted to see what else that would do. The cool thing about it was this was one of the variations I've never really lowered my price.
Because of that, they tell you what the suggested price would be for a good sale. It was only like $2 less and I was already selling it for. I was still going to make a pretty good profit on it. We did that and I was hoping to sell out 100 but we did like 50. We did like 50 because, 48, something like that. The cool thing about that was I sold some of my bundles, sold more of my bundles that day like maybe five. Then I also sold a few of the other items that are related to that. It just bumped everything up for the day. We ended that day with like 75 something like that, 75 or 76 which was pretty cool. Again, I just want to let you know like when that happens, think about that as like you're running a promotion but you're almost like not running it as a huge discount like a giveaway. It's a great way to spike your BSR and also start getting some more reviews and really just get some natural sales.
[00:42:30] Chris: That's a really interesting thing to bring up because there was this question earlier about what if it is just a lateral sale? If you wouldn't have had that bundle and those other two options you probably wouldn't have closed those sales. That came as a result of the extra traffic. You would have sold the 48 or the 50 or the whatever of the variation that was getting the lightning deal. You wouldn't have sold the extra of the other two variations or the bundles. You would have just done what you would do on a normal day but you see a spike across all of those because they go, “This is a better deal” or “I want it green. I don't like the red one even for $9.99”, whatever the lightning deal it is.
“I'd buy the green one for $13 but the red one for 9 bucks, maybe if it was free. Give me the red one for free and we'll talk.” You get to see that, that cross sale in that example which is really cool. It is a lateral sale unless they buy the bundle in which case it's actually an upsell. You see an increase in conversions from the same volume of traffic because you have those other options.
[00:43:32] Scott: We also noticed too the next day the sales were up than the past week because the BSR and stuff had went up. Also now this could help with the rankings so we could see increase in sales moving forward.
[00:43:45] Chris: And you're going to get a rush of views and you're going to get all those kinds of things as well.
[00:43:48] Scott: I also have two other SKUs that are up for a lighting deal that have already applied for. One of them has semi approved, goes through like a double approval, it gives you like a pending like yes and then it will give you an exact date of when it's going go and there's two of those now that I have that are going to be qualified that hopefully I get those as well. It's cool to experiment with this kind of stuff to see what happens when you run something that Amazon has control to show your item wherever they want and to try to push the sales.
It's pretty interesting. Bill had brought up something about… He said, “Don't forget when you take the phone numbers and you can upload those into Facebook you're not just going after those people, we're able to know this is something that Bill learned from us at the event that he was very excited about. We can now take those customers and we can use them as a base of what a Facebook will look at for a lookalike audience. It will match people that are very similar to those people and now we can target those people.
[00:44:54] Chris: That's where something like a 10% off becomes a really good offer because I don't necessarily… Yes I do want their email address, I want everybody’s email address. I want all email addresses on earth that are relevant to me but I can hit them with that offer right away, that 10% off because I know there are very similar to the customers that bought from me.
[00:45:12] Scott: That makes a lot of sense. If we can get in front of more people that are like our customers, then why not. That brings back to like in the beginning when I first started I built a Facebook Fan page of about 2,000 people. I spent about probably 300/400 bucks to do it. That strategy really isn't as effective as to like let's build a Facebook fan page so we can launch a product to them to get reviews. You can still use that page because now there's 2000 people that like that page, we can take that page and we can target ads to that page. I can still get my offer in front of those 2,000 people by me using my page as the target audience for my ad.
[00:45:52] Chris: Here's my question Scott. Do you remember how much you paid to do that, to get the 2,000 people?
[00:45:57] Scott: Yeah, about 300 bucks
[00:46:00] Chris: That's not bad. You then you can go get their email addresses. You can make them a direct offer on the page, you can advertise to them.
[00:46:08] Scott: I can make a lookalike audience from those people because now I've set the parameters for that within that audience and think about this for a second. Let's say for example you are in business and if you're a brick and mortar business too and maybe you're doing this on the side as far as you ecommerce or whatever you could so this all day long. If you have a Facebook fan page or maybe your competitor down the road, you can target their people for five bucks a day. Think about having a banner or a billboard in front of your ideal customer every single day for five bucks. That' what it's like. It was funny, I was in a meeting with my son with a basketball clinic and they were like, “Yeah there was this new prep school coming out.
Everywhere I go I see their ad. I'm like, “They've been retargeted.” That means that they landed on their website, they had a pixel in place. Now, every time they go to Facebook or every time they to Instagram, wherever they go they're being followed around by this company. They’re like, everywhere I look they're there. They're everywhere. It's like a billboard. Imagine that billboard that's on the side of the road that you see once on your way to work and then once you come home, it's only every billboard because it's your interest. If I looked at that billboard and then if I went to the next I seen that same billboard and I went down the next street and I seen that same billboard, you know how much money that would cost you? We can do it for five bucks a day.
Chris: You can do it even for less than that. That's the thing that's kind of cool. Speaking of retargeting before we jump into something else, the first time I had to explain retargeting to somebody, my dad calls me up. He bought me bar stools when I moved to Nevada, it had like a really weird height like kitchen bar. You couldn’t go like Walmart and buy bar stools, you had to get them custom sized, why they would put that in the house, no one knows. He's like, “These guys are everywhere.”
He bought them from like this really obscure website that nobody has ever heard off. He's like, “They're just advertising to me non-stop and it's like I never heard of them before. I thought those were bar stools.” I said, “You're being retargeted.” He said, “What is that?” It's like, “That's really creepy.” Yeah, if you do it like that. If you follow him around everywhere. If you're just with him just on Facebook or you're with him where it makes sense, retargeting it makes a lot of sense and it's extremely, extremely effective. I look like Donald Trump… Just trust me. Just trust me. It's going to be great.
[00:48:21] Scott: Let’s not get into that.
[00:48:23] Chris: It's extremely, extremely effective and it's extremely, extremely cost effective.
[00:48:30] Scott: Think about this though. It doesn't cost you anything unless they click. They might see you a hundred times that day but they never click. They still see you. That's like branding.
[00:48:46] Chris: We do have a couple other questions. I see one from Gieremo. He says, “When I sell on other platforms like eBay and fulfilled through Amazon, should I pay extra for unbranded shipping boxes. I sell my PL product on eBay with Amazon branded boxes and their customers don’t seem to care.” If they don't care, I wouldn't worry about it. I wouldn’t pay the extra, just do the fulfillment order, and honestly even when you have your own ecommerce site and I don't pay anything extra, I just to use the standard fulfillment order, they ship it in an Amazon box, I don't care as long as the customer gets the product. I've never had anybody go, “Why did I get this in an Amazon box?” They don't care because they already ordered from Amazon. It doesn't matter.
[00:49:25] Scott: Should we go really hard on pay-per-click right now before fourth quarter?
[00:49:30] Chris: I look at the data. I don't know that I would say really hard. I would say you're going to scale it where you can scale it to. Keep it profitable. Don't just blow money to blow money but try to collect as much data as you can. If that's 25 bucks a day, great. If that's a $100 a day and you can spend that and you can make money or break even then that's even better. I wouldn't spend the money just to spend the money ever.
[00:49:55] Scott: It's going to get more expensive as we get into quarter four, so I'll just say that.
[00:49:58] Chris: Having it dialed in now, is going to be even better. If you can spend a little bit extra to get that data now, go for it.
[00:50:07] Scott: Before we move on, Facebook Live share this up, Periscope share it up and tap it up and emoji it, whatever. Whatever you do on Facebook. Just do that for us and we're going to keep coming back for you every Friday for a little while here if you guys keep coming back. What is Alberto saying… “that's an awesome tip.” Thanks Bill, we'll be implementing that today.
[00:50:29] Chris: What he's talking about there is the custom audience, the lookalike audience and Alberto, something that we may or may not have touched on, I just want to clarify for you is you don't want to drive that traffic straight to Amazon. That drives me up a wall as the digital marketer, as the PPC guy because I can't track that traffic. I have no idea what happens to it. What you want to do is you still want to drive them to a landing page and capture their email address for a 10% off of your product, put your email address here and we'll send you the promo code or we'll display it to you on the next page, however we end up doing that.
Then you have their email, whether or not they buy the product. If they don't buy the product or you just want to send them the email the next day and say, “Hey, we just want to make sure you got it. Here's your 10% off code.” Do that but capture the email address. That's the most important thing of that because you can't track the ad spend one-to-one with something like Amazon. You can track the promo code redemption on Amazon so you know that that came from your Facebook ad but it's not as reliable as if you had your own site. Do yourself the favor, capture that email address. At least you're getting the value out of that whether or not they buy the product.
[00:51:32] Scott: Yeah. One thing I do want to touch on really quick, again I'm just randomly bloating stuff out here but I'm actually working with someone right now semi partnership and you know about this, you're actually working with me on that. Anyway…
[00:51:51] Chris: I have no idea what he's talking about.
[00:51:52] Scott: I just want people to understand that we talk about like product lines and what product lines really are being synergistic with all those products. If I was to recommend to someone right now, in order to really sell on Amazon and then also build your sales funnels to then have, be able to recoup your ad spend and then also make money on that, I think you need three products. You need a low barrier entry product, they call that a trip wire or they call that a lead in offer. That there would be one. The second thing you need is that offer that's going to recoup the ad spend and that's going to allow you to make a little bit of money and then the other one on the back end of that one would then be full money. There's three product.
[00:52:48] Chris: Essentially a lead magnet which can either be a digital thing like an e-book or can be a physical product which is a low cost product. Your like standard product so let's go with the fly fishing one. It's going to be a set of flies, a fly fishing rod and then what's called the profit maximizer. That's the term used for that but it's that third, that high end product. Very few people are going to buy it but it's going to cover costs over everything else. Might be a tackle box or hat and vest combo, the rod in that case is probably the most expensive product but you guys get the point. You have three products that are all related that will lead naturally into one another. If someone even buys flies, they probably need a fly fishing vest. If they have a fly fishing vest and flies, chances are they are going to need a new rod at some point. You want to do a little rapid fire Q&A.
[00:53:42] Scott: I do but I'm not done yet. The other thing that we took away here is, and that's what they were talking about with their brands is trying to get something that's recurring. Let's speak to that. The one thing that I thought was pretty interesting, some people would be like, “Well I don't have anything that's recurring.” Well, you can find things or you can create your own but I would say, the easiest way is to find other services that are recurring and becoming affiliate for that product, for that service.
[00:54:13] Chris: That conversation you and I had last night. You said, Okay, we have this product, we have what the upsell would be, they're like the normal products we have, the lead magnet or the trip wire product and we have like the standard product but we don’t have anything else on the back end. You don't have to. You can do a couple of different things. You can do an affiliate offer, which is really interesting right. You can jump on a Click Bank or a Share-a-Sale or any of those kinds of things. Let's stick with the fly fishing thing.
Outdoor world, you might have an affiliate program. You sell anything on their website as an upsell or you can go to Ali Express and you can say, “I really like this one. I'm just going to put this one in and test it.” Which is kind of what I said to you last night. It doesn’t matter if you have a product you can put it in and test it and if someone buys it then you go, okay that makes sense. We're going to fulfill that one. If we sell it three more times then we’ll go private label that one. That can get you into that higher spot.
[00:55:04] Scott: That's actually what you said, which actually made a lot of sense because you were like you know what, you can go find that net product that's in line, sell your competitors and be an affiliate. All you're really doing is you're seeing inside of that sequence does that product convert after someone purchased this? If it does, then you private label that product. I think that's a great strategy. Something we’re going to be playing around with. Again it's, people come up with excuses of why they can't do a certain thing. A lot of times it's just me. It's like overwhelm and then not being able to simplify it. Simplifying it like we just said and that's what we were doing, we were like, we were sitting down like what do we currently have.
[00:55:50] Chris: What are all the products on the table.
[00:55:51] Scott: What’s on the table. Why go out and try to find all of the new stuff right now? Let's take the ones we already have and see if we can build something with what we had. We did. There's actually two little funnels that we are going to be building that are probably we can probably do them next week. They are there.
[00:56:09] Chris: Someone on Periscope just said, I don't understand what an affiliate is. Basically it's you selling somebody else's product without having to touch them. It's like drop shipping except you just take a commission on the sale. They collect all the money but in essence it is drop shipping if it is a physical product. Amazon has an affiliate product.
[00:56:25] Scott: I was just going to say, you can make 8% of any product on Amazon, not always it depends it's usually like 6% and then if you sell enough it's 8%. Any product right now that you want to put and if you can put sign up for the associates program, which is basically an affiliate, and then any product that you sell through that link or any product that they purchase when you give them a like, let's say someone goes over and they have five other things that they're in their shopping cart that weren’t there before and they check out you get credit for all those. It could be a magnet, it could be a camera, it could be a garlic press. It could be all these things but it's only tracked for 24 hours. Here's the deal.
You can find that product on Amazon whether you want to fulfill it on Amazon or not yourself. We talked about that too. We can just take a product that we want to sell, find it on Amazon, we could then pull up a little page to sell it, we sell it then we go buy the product and we just ship it to that customer. Basically that's what we're doing or we buy it, send it to ourselves and then we send it out.
[00:57:27] Chris: Then whenever you hit a certain number, whatever that number is to you okay this is a good product for us to look at sourcing to do that and then you can go source it and worry about it. It's very little risk on the front end and it helps increase your profit in the meantime.
[00:57:45] Scott: I'm glad that someone said that. They’re like, what doesn’t that mean, an affiliate? We just assumed that everyone knows these types of things and I think that's a good point for all of you listening and watching right now. You guys, a lot of you probably have more knowledge that you even know that you have. You guys probably have more knowledge than you know and I'm going to give you guys a test. Next time you're at a party I want you to just walk up to someone randomly and go, “Do you know what FBA is?” I want to know what they say. Maybe come back to this right here, maybe the Periscope, maybe the Periscope page or… Just put something. I want to know what they say. They're going to be, “Is that something like with the FBI? Is that what that is?”
[00:58:29] Chris: The federal bureau of alcohol.
[00:58:31] Scott: Already bending people's ears. Okay, the last thing that I wanted to address is that is on my head, there's probably people on here right now or people that will watch this In the future that are bloggers. Bloggers are great, and you know where I'm going, bloggers are great at generating content, getting traffic but really maybe not either good or motivated to want to private label. We met a girl who has or had, I don’t know if she still does maybe she sold that, did she? 300,000 email addresses. She's getting like couple hundred thousand uniques every month to her blog and she's collecting 8% commission off of any product that are being sold through her site. She's happy with that, she's comfortable, good. We think, well that's great.
You know all that data of what's selling, why not take that product or those products that are selling and private them yourself and then now you went from 8% to 50% or 40% or whatever it is. If anybody is a blogger right now and you guys have maybe, even if you only have 500 visitors a month you've got visitors. We know someone right now who was at the Seller's Summit and he actually started not that long ago, he bought a site that was already doing maybe like 100 visitors a day. He's gotten it up to like 400 visitors a day. He's doing $20,000 a month on his own site. Not on Amazon. I just want people to understand that there's so much potential out there and if you're, you might be sitting on a gold mine and you don't even know. I have a neighbor of mine I told you I'm helping her right now.
[01:00:17] Chris: Same situation.
[01:00:17] Scott: Same situation. She's got over like 200,000 uniques a month. She's got an email list. She's got a Pinterest following, she's got Instagrams, she's got all that stuff, she loves doing live video and she's just doing ad sense or she's just doing affiliate sales through here site. Jim, keep an eye on that. Got something little going on there. Want to do some rapid fire?
[01:00:42] Chris: Yeah, let’s do that.
[01:00:43] Scott: All right. There you go. There's the last power hour that we did. What do you think of this beat I'm dropping right now. Pretty nice, right? Seriously, we have a lot of fun doing that. I did cut out about 30 minutes because I didn't want this to go over really much more than an hour. We went out for about an hour and a half so there's about 30 more minutes of our conversation where we answer all of the questions that were submitted on Facebook Live or Periscope. If you want listen to those head over to theamazingseller.com/264. You can jump on the video right there. If you want to fast forward in about an hour and then you can pick up where we just left off but again, a lot of great things happen when you get together with likeminded people like we did here.
Not just Chris Shaffer but other people that I was able to rub elbows with there at the event, connections that I've made and it's just really, really powerful stuff. I would remind you again one more time if you want information as far as attending your next live event in person event very limited and there's only a handful of tickets available right now but you can get on the waiting list and you can find that by heading over to theamazingseller.com/live and you can find out all the details there.
If you want to attend one of our live power hours you can head over to theamazingseller.com/hour and you'll be notified there of upcoming Power Hours and they're going to be Friday's at 1 o'clock PM eastern time. Guys, that's it, that's going trap up this episode.
I want to thank you guys for listening and attending the live events or the Facebook live, wherever you're. I want to say thank you and I want you guys to also remember that I’m here for you and I believe in you and I'm rooting for you but you have to, you have to… Come on say it with me, say it loud, say it proud, “Take action.” Have an awesome amazing day and I'll see you right back here on the next episode and let's get that head bobbing. That feels good, that’s got a good groove, don't it?
LINKS MENTIONED IN THIS EPISODE
- Content and Commerce Summit Event
- www.TheAmazingSeller.com/Hour – Fridays at 1PM at this link.
- www.TheAmazingSeller.com/LIVE – the upcoming live event.
- My Wife Quit Her Job (Steve Chou’s site)
- Ryan Daniel Moran
- Amazon Lightning Deals
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