How can you make significant steps toward building your brand and launching your Amazon product? On this episode of The Amazing Seller, Scott reviews a recent coaching call he had with a TAS follower like you! Scott breaks down how the caller is currently fairing with his Amazon products, how he can improve, why he should build and email list, how he can leverage Facebook Ads and much more! If you’ve been trying to figure out your next step in growing your business, this is the episode for you! Grab a pen and paper, you don’t want to it!
Why you need to build an email list
Would you like to build your brand? Would you like to see your product sales take off? Then make sure you direct your energy toward building an email list! If you want to drive sales, increase traffic to your listing, and introduce new products the best resource available to you is a curated email list. If you can build a list that includes a majority of individuals who fit your target demographic then you have what you need to accomplish key goals toward growing your sales. If you’d like to hear more about how you can build an email list today, make sure to catch this episode of The Amazing Seller!
Leverage Facebook Ads!
One of the best ways to grow your business is to expand your customer base. You can do this through email lists but you can also leverage Facebook Ads. Start by locating a target group on Facebook that aligns with your product's theme and category, then begin a marketing campaign directed at that group through Facebook Ads. Alternatively, once you’ve started an email list, you can feed that contact info into Facebook and market your product or offer to similar demographics via Facebook Ads. If you’d like to hear more about how you can leverage Facebook Ads to grow your business, listen to this episode of The Amazing Seller!
What is your ONE THING?
As an entrepreneur, the multitude of conferences, books, and courses available to you can be overwhelming. In fact, many business leaders are paralyzed with inaction because of so many options! How can you cut through the noise and make the changes you need to succeed? You’ve got to focus like a laser beam on that ONE THING. Do whatever it takes to silence the other voices and advice you have at your fingertips and just focus on one thing. Focus on it for the next 60 to 90 days and see what happens! To get more great tips and insights like this one, make sure to catch this episode of The Amazing Seller!
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:03] Scott’s introduction to this episode of the podcast!
- [5:40] Diversify your income sources.
- [16:20] Why you need to build an email list!
- [23:30] How you can leverage Facebook Ads.
- [26:00] Boost your sales ranking and drive external sales!
- [29:15] What is the ONE THING you need to do today?
TRANSCRIPT TAS 348
TAS 348: Coaching Call Recap – Plan for $200k Seller and Next Steps for Growth
[00:00:02] Scott: Well hey, hey. What's up everyone? Welcome back to another episode of The Amazing Seller Podcast. This is episode number 348 and today we're going to do something a little bit different…
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…I’m going to give you guys a recap of a recent coaching call, that I was on and I’m going to explain how this call even happened because it wasn't something that I had planned. But I'm going to be talking with a seller, a fairly new seller about 18 months in, doing about $200,000 a year, has a bunch of SKU’s already, but he's struggling with growth. And let me just tell you how this whole thing even happened.
You guys may remember, I had a guest on, Jamie Masters on episode 333. If you haven't listened to that episode, you definitely should. She's a really smart lady and she's awesome. She's a friend of mine, also a mentor and a coach of mine as well and I interviewed her on her biggest takeaways after interviewing millionaires and billionaires. That's what her show is all about, her podcast and she talks about the top three millionaire mind hacks and how to apply them to yourself. But the cool thing is, is she reached out to me and she's like, “Scott I do this high level retreat every year for six figure business owners and I've got someone that's coming in that needs help with Amazon stuff and I was wondering if you would give me an hour of your time and spend with this guy and his name is Christian.”
And I said, “Well of course, you know I mean, you’ve done so much for me and I would definitely do that and I just love talking about this anyway so definitely let's schedule this thing.” So she had him create a video to kind of give me a little bit of a recap of like where he is in this journey and who he is as a person and family and all that stuff and the crazy thing is, is he's actually a listener of the show. And he's been a long time listener, a fan, all of that, so it really made it even that much more special and it really got me fired up to sit down and talk to Christian.
[00:02:00] Scott: And that's exactly what we did. We sat down for an hour, maybe even a little bit longer than an hour and we talked all about his business, where he is in life and how we can take him from where he is now and move him to where he wants to go. And I’m going to give you guys a recap of what that looks like and what we talked about. Remember, he's a he's a seller right now on Amazon only and he's doing $200,000 a year and he thinks he can definitely grow that but he's having some sticking points, he's having some questions in his mind, like what should I do here, what shouldn't I do and all of those things. So that's what we're going to dig into.
Now before we jump into this recap that I'm going to do here, I've got some notes here that I'm going to walk through with you just so I can remember what we talked about. I made notes so I could kind of guide you through what we talked about, which I think you're going to find really interesting, but the show notes for this episode can be found at theamazingseller.com/348, all the transcripts as usual will be there, any links will be linked up there as well.
The other thing I wanted to do really quickly and it’s going to really go hand in hand what we talk about today, a lot of the recap, is we actually are doing a live TAS event and meet up in North Carolina at the end of June. Third week in June, I don't have the exact date yet but it's looking like the third week in June. If you are interested in doing an unofficial meet up with us, a TAS meet up in North Carolina, it's going to be around the Charlotte area, head over to theamazingseller.com/live and you can see all the details there. Where it's going to be, we’ll update that page. If you're listening to this after June of 2017, you can still go there and any upcoming live dates will be there.
But the other part of this, is we're going to have a second day that we're going to be hanging out. We're going to be doing a workshop, a lot of you reached out to me and said, Scott what are we going to do the next TAS Breakthrough Live? Well this is going to be like a breakthrough live, but we're going to custom tailor it towards building your launch list and how to actually build that funnel out and we're going to take one day with 15 people and we are going to teach it and then we're going to actually build it and then we're going to actually help you build it.
[00:04:08] Scott: Now this will be a paid event. Only 15 people though, so if you’re interested in that, it's going to go hand in hand with what we talk about in today's podcast episode. But if you want more information about that, about hanging out with us at this live event, whether it's the unofficial part of it where we're just going to do a TAS meet up or if you want to actually be one of those 15 people in that room the next day building out your own launch list, then you’re going to want to head over to theamazingseller.com/live.
Get on that early notification list and then this way here we’ll notify you as soon as we open that up for that small intimate workshop which we're going to be doing like I said live in North Carolina and all the details will be found on that page. I’m super excited about that, it’s going to be a lot of fun, it’s going to be in my neck of the woods and it's going to be a lot of fun. So definitely go check that out if you're interested. So guys let's dive into this recap of this coaching call that I recently did.
Now the guy's name is Christian. Great guy, family guy, I can totally relate to his story. He's married, he has I believe it was a son and young, not that old I think under five and again just wants to enjoy more time with his family. Now he’s currently running a full time marketing agency, where he's building other people's businesses or helping to build other people's businesses, not in Amazon, just how to build their business. Like social media stuff or website stuff like a whole bunch of different things.
So he's got a full time agency, he's running VA's, all of that stuff. So he's a busy guy, busy guy. But he's working for clients. He's doing client work which is fine, but he's telling me like some days are eight, 10 hours. Sometimes 12 hours, depending on the project. So I want to be able to build out this Amazon business and allow that to take some of the strain off, of this other business.
[00:06:01] Scott: So his main thing for me that he asked me, was like, “All right Scott like you're like exactly like where I was in a sense where maybe you had your photography business and you were working a ton for clients and the only time that you would have a break is when you weren't working but then the business wasn't running so no income was coming in and I want to move into the direction where I can have the Amazon business running which it’s doing fairly well right now and I want to grow that and scale that so I could possibly not even have the agency.
So my first question was like, can you still run the agency even though you have an Amazon business?” Some of you may have a business right now that you're running, maybe brick and mortar and you think to yourself that you want to get out of that business and you just want to solely focus on an Amazon business or an ecommerce business. And the first question I would always ask anyone is like, do you have to give up that other business or can you hire other people to run that business and then you have two streams of revenue coming in because we don't want to just bank on one stream of revenue.
You guys heard me talk about that time and time again, you want to have more than one revenue stream coming in. Whether that's an Amazon channel or whether that's an eBay channel or whether that's your own ecommerce store or maybe it is Jet or whatever other platforms or other revenue streams coming in. So don’t just think that I mean it has to be like a totally separate, separate business. That would be cool because now we're not relying on that ecommerce business, but if you take and go out there and find other channels to sell your products on, that's like the easiest way to diversify and have other income streams coming into that same business. But if there's a way for you to run that advertising agency or that marketing agency and still run the Amazon, like he said, he's like the Amazon business doesn't take me a ton of time.
[00:07:51] Scott: It's just right now in order to bring it to that next level, I am going to have to make that decision because the time that I'm spending eight to 10, 12 hours a day over here, I could be building this over here and you may be you know thinking that same thing whether you're working a job or if you're working for yourself in another business you're saying to yourself, “If I could focus…” And I've said this, I've had this conversation with myself. “If I could do this 100% of the time man what I could do. Like I could scale this thing like crazy. And then obviously you get to that point maybe and then you're like, you're not putting in as much energy as you thought you would because well it's nice to only have to work two hours a day.
And I've had that and I've had this sense readjust my thoughts not as of recently but you when I was starting like when I left my construction job and went over and started working for myself as a photographer that was awesome. I'm like, “Oh my gosh, like I got up this morning, I made my coffee, I made my breakfast, got the kids off to school, I didn’t have to report to work, it was awesome. It was amazing and I'm going to work and I would sit down and I would do a whole bunch of work,” but then as we started to settle in, I started to see that I was slacking off a little bit. And you don't want to do that either, but you got to have a balance. But that's not really his problem here.
Christian was really asking like, “So what should I do there?” His thoughts were you know yes I could probably still do the agency but I'm not 100% sure if I want to. But it's still an option, you still have those connections, you could probably outsource, you could pick and choose what jobs you do, you don't have to do them all. You know if you're doing web design and then you're doing social media and then you're doing funnel builds and you're doing all these different things, you can maybe just focus on one thing that doesn't take as much time. But you can still have that revenue stream coming in. So that was my first recommendation to Christian.
The other thing that he said was, “I'm only selling on Amazon.com right now.” Now let me just back up a little bit. He currently has about 18 to 20 SKU’s right now. Which is pretty awesome and I think he said he's got variations with those so maybe he's got six products.
[00:09:58] Scott: I don't know the exact. I’ve kind of forget. I probably should have wrote that down. But let's just say he has eight or six products but then with variations off of that, which brings him to about 18 to 20 SKU’s. But now these are in the same market. Now just remember that. These are in the same market. Now my first question or his question to me was like, “I'm already selling on amazon.com. It's doing fairly well but I’m not selling in any other marketplaces with these products.” And I'm like, “Okay, that's one thing we can think about. Now, so what are you asking should I sell International, should I sell in my own ecommerce store, like what should I do.”
Well I said, “What's the easiest thing for you to do right now?” And he was like, “Well, probably just sell more of my product on Amazon.com because I don't feel like I'm done. I've got other products I can launch.” And I'm like, “Okay well then that's probably what we want to do. We want to continually relaunch products.” And that's always been the case for anyone that has products that can keep being served to a market, why not continually just expand out that. My good friend Dom Sugar always says, if you can go wide in that market, you've got a much better chance of being stable because you're now you're not just going deep on one product. So that's really, really important to understand.
But my other thing was, okay if you go International you have to figure out all of those things, which doesn't mean that you can't do it, you totally can do it and if you're in another country and you're selling in U.S right now, you might want to just start you know selling in your country. That'd be the first and the easiest thing to do. My other thing was okay, you have these products, they're selling decently and let me just kind of go back to his products range between I think $20 and $30. Somewhere in that range, but he also brought up, he’s got one product right now that he just launched because he's seen it was selling, he thought he could sell it, he thought it could make a good margin, it's a more expensive product, it's a bigger product, so it's going to cost more money. He did that and it's selling.
[00:12:00] Scott: It’s selling well. Okay. But the problem is, it's taking a lot of his capital. So a lot of the money… So figure this, if you're selling a product for 100 bucks, you’re probably paying $25 to $30 to source that product and you're having a lot less of them shipped in depending because their oversized or they're bigger and now you got less in inventory and then in stock and now you have to worry about, “Well if I don't get rid of these things in time, I have to pay long term storage fee,” and that can add up because it's a bigger unit. So you have all of these other things you know that you're considering.
So my question to him was, okay well you have this one product, it's not related to your current brand that has 18 to 20 SKU’s. You're telling me that you can launch 10 more SKU’s in that brand but you have this one over here that kind of sells, maybe you sell one or two a day. It's still selling and you're making a good margin on that but in order for you to buy another 300 or 500 units, you got to take a lot of capital and invest in that and it's a slower moving product where you got two sales a day let's say but it's still selling. So his question to me actually was should I just pause that for right now and take that money because I could probably launch three or four products in that other brand with the money that I'm investing in this other product.
So my first thought was, well if you want to continue to sell that product, maybe you want to find an investor. Maybe you want to find someone that you know or someone that would be willing to say you know what I'll take 20% of whatever margin you make and I'll just lend you the money. Like that’ll be an easy one. So don't not sell it. Still sell it but you're going to have to find out outsource funding because you're one brand, you don't want to have to pay for the other brand necessarily, if that makes sense. Hopefully it does. And he kind of said it to himself, he's like and he said it to me he's like, “If I took that money that $25 or $30 per unit that I'm investing in that one product.
[00:14:00] Scott: If I could take that money and launch three more products, I think I could sell more in my own brand.” I'm like, “Well you almost answered your own question. That's definitely what you should be doing. It's not saying you can't go and sell the other product but you have to, as far as money goes, you have to find an investor of some kind or some other channel of money other than taking the profits out of the one and bringing over the other one. If you keep going at that pace, you're always just going to be taking the one, making the money and then funding the other and you don't want to do that.” So that was something to definitely think about and I think he's definitely on the page of saying, “I think I'm going to take that money and invest it in three more products in the current brand.”
So the other question I had for him was, “Do you have an email list in your current brand or is everything basically being done through Amazon.com?” And he said, “I have no brand right now currently. I mean I have a brand name but I don't really have a store yet. I don't have an email list. I haven't done any of that stuff. I haven't done any Facebook ads. I haven’t done anything.” And the whole thing that Jamie wants at these retreats is for them to have something to focus on and then accomplish before they leave the retreat. That’s what she wants them to do.
So you're going to hear here in a second how he totally took my advice and he's running with it and which is really awesome. But he doesn't have an email list, he doesn't really have any brand kind of established yet even with 18 products and he also said that his market would definitely be hanging around Facebook groups or Facebook pages and I'm like okay. So now we can do exactly what I'm saying as far as building an email list and then communicating with that email list, having a weekly email go out to them, giving them tips, advice, you're being the reporter. You are going to be the reporter of your market.
[00:16:01] Scott: This way here, you don't have to create all the content. You just have to go find the content, point people to the content and then in a PS on that email you can say, “Oh by the way we're having a 25% off sale this Friday,” or this weekend or something like that. If you guys are listening to this and you are in a similar place as Christian, you definitely want to be building that email list like almost from scratch. Like right from the start, because there's so much power and leverage in that email list that now number one you're not depending on Amazon 10%.
You're controlling the traffic and you can boost any listing you want, obviously if the people want your product which I think they will. You're going to be able to do that whenever you want, so now you can play around with your ranking. You can go ahead start getting sales. The more sales you get obviously the more reviews are going to come in because you're going to probably have your sequence in place on the back end to communicate with your audience and then through the email you're going to be able to follow up with those people and see how their experiences. You can probably do surveys to that list and ask them about your next product that you're going to be launching. Would you guys like this in red, blue or yellow? Or what texture do you guys think is the best one? Or what one do you think that your spouse would like? Or whatever your market is, you can custom tailor that message to let them give you feedback.
You can also do that on a Facebook page or a Facebook group. There is so much power in being able to reach out to your customers and ask their feedback and letting them see what you're potentially going to be selling or launching and then from there let them be part of the process. I can't stress that enough. That's a huge, huge tip there guys. Let them tell you what they want and then give it to them. Like it's that simple. But you can't do it unless you have an email list. So I said to him, I said, “Here's the deal. Do you have a product right now that you believe that people will maybe put their name in for a discount?”
[00:18:03] Scott: He’s like, “Yeah they might, they might do that.” I'm like, “All right, how much does your product sell for?” He’s like, “$20 to $30.” I'm like, “All right. If I'm going to give up away a product for free, probably not going to be that like crazy where people are going to go nuts over it if you just give away that product. But if you can do some type of giveaway related to your product,” now pay attention here. “If you can do a giveaway that’s related to your product and maybe even having that bundle where your product is included so they're aware of your product now we're onto something.”
So what I said the Christian, I was like, “You have to find something that’s related to your product but big.” I don't mean big in size. What I mean is, in value. Like you want something that’s valued over $100, preferably up to $200. Now you are going to be buying these products. These are going to be physical products that you're going to buy and have in your possession. But now you're going to set up a way for them to enter their name and email address so this way here they have a chance to win this grand prize, this giveaway, this bundle of products that are related to your product and maybe your product being included.
So now we're on to something. Now I also get this question from people they say, “Well Scott, isn't that just going to attract people that want stuff for free?” And the answer is yeah. Some people will on that list that you're building, will be people that are just looking to get that thing for free. But here's the deal. If you target it correctly, meaning if you target people that are in your market, you're getting people to raise their hand in your market that say, “I'm interested in this stuff.” I always go back to the fishing example. If you're selling fishing gear, if you're selling a tackle box and you want to get people that are interested in fishing and I'm saying like competitive fishing, let's say that people that do bass tournaments and stuff like that.
[00:20:01] Scott: Well there's certain you know fishing rods that, that market is like they’re loving right now. Like there could be a magazine that has like five different you know fishing pole shootout or something. They have that for cameras and stuff like that and you find this like really, really like popular or very in demand fishing rod and then that's going to be part of your giveaway. Maybe you pay 100 bucks for it and then you add in a fishing vest for bass fisherman and then maybe you throw in a net and then maybe you throw in your tackle box. And now you have this big value of $200 or $250 and now people are going to raise their hand because they want to win that thing because they're in that market because you targeted those people in that market.
Now a lot of people say, “Okay so what does that do for me really? Like you know what happens? Like do I get to sell them stuff?” And the answer is yeah you can but the thing is we're just trying to attract the right people so they can give us feedback on future products or if they don't win this contest we can follow up with a special offer, “Hey sorry you didn't win thanks so much for entering but we're going to still give you something because you entered, we really appreciate you taking the time, here's 25% off our tackle box. It's available for the next 24 hours,” or something like that. You can do that and then from there you're going to pick up some sales.
Now the other cool thing is when you're ready to launch your product, you can then just follow up with them with something that you're doing here. “Hey we're really excited about releasing our brand new updated triple 3,000 tackle box,” or whatever and that's a terrible name but you get what I'm saying, “and we want to do something special for you because you're an avid bass fisherman and I want to make sure that you guys have all the right tools and I want you guys to celebrate with us as we release this brand new tackle box. So here's your special code and go over and grab it.
[00:22:00] Scott: You’ve got 24 hours and then the coupon will expire, have an awesome day.” Something really simple but again these people raise their hand because they are into bass fishing. We know that because they raised their hand when they entered their name and email to win the grand prize of the fishing kit or the fishing bundle. You get what I'm saying? So that's what I told Christian. I said listen, you have to come up with that thing. He’s like, “I totally know what I could give away already.” And I'm like, “Cool that's step one and step two is how are you going to collect the email addresses.” Well you have to have a landing page. What’s a landing page? A landing page is a place where people land when you send them there. A web page of some kind and then they enter their name and email address.
Now I'm not going to go into all of the steps here but if you want to see how everything is put together we actually did a workshop where we actually share this with you and you can find that by going over to theamazingseller.com/buildlist and it actually walks you through that. I'll actually show you a case study and all of that stuff there too. Again, just to save time here because I want to be able to finish up on this recap. Definitely go check that out but it gives you all of the components needed to make this work and it's really not that big of a deal. You need a landing page, which is a way for you to capture name and email addresses. You need to find the traffic. The traffic is basically found the way that I like to go find it is on either Facebook or Instagram but it depends on your market.
It could be over on Pinterest but for the most part Facebook is going to be a great starting point because you can almost find anyone you want there depending on your market. But then once you find that traffic, you need to direct that traffic to a landing page which captures their name and email address. You need to give them the ability to be able to share that because that's the other power of this component, is people want to share it because if they share it they get extra credits and then if they get extra credits they get more chances to win so it helps feed itself from external traffic without you even having to pay for it.
[00:24:01] Scott: You almost have to just get it started with the traffic and that traffic can be found like I said, on Facebook. Facebook ads are super easy to get going and again you can just go find a group or a page that is related to your market and target that page or that fan page. That's the easiest way to get started. The other part of that is once you and again not to get too technical but once you get some email addresses, like let's say you get 250 email addresses which shouldn't take you that long, you can then upload those into Facebook ads and then you can go ahead and start finding lookalike audiences and then that can expand that 250 emails to 1000, to 5000, to 10,000 to 100,000 and then that way there you can start to really drill down into your market. Again not to get too technical here but you there's a ton that you can do and again at that workshop that we that we did we actually walk through all of those steps.
But this was the main thing that I said to Christian and he was excited. He's like, “This makes total sense. It's something I could totally do right now.” And I'm like, “So think about this, you have 18 to 20 SKU’s right now. All you need to do is get people to see these 18 to 20 SKU’s. How do you get them to see it? Well you go on Amazon, you make sure that you've optimized well. Make sure that you're running your sponsored product ads which I believe he said too. He could probably improve on what he's doing there. So that was another step in this.
But basically don't overthink this thing. Look and see what's the low hanging fruit, number one. So you already currently have stuff on Amazon, you're selling pretty well.” I think he said he's netting like $7,500 a month already. Netting, not revenue, like netting and he said he wants to get to about $10,000. Well that's going to be easy especially if now he can drive his own external traffic to these listings because these listings probably aren't getting all the sales that they could get if he had more ranking to help him or more sales to help him rank and then get more organic sales on Amazon. See the outside stuff can feed the algorithm inside of Amazon.
[00:26:06] Scott: So that's why his best bet is to really start to build that email list and then when he wants to have a little bit of a boost maybe a listing is starting to drop in ranking and he wants to bump it up, all he's got to do is run a little flash sale to his list and he’ll probably get increased sales which then will increase his ranking. And then it'll also help his reviews and it just kind of starts to feed itself. So that's the biggest thing that I gave him and he was like ready, set, go. Like let's do this and he gave me an update after we had this which he loved it, he was excited he couldn't wait to get off and start implementing some of this stuff and that's what he's done at the retreat.
He sent me screenshots of his landing page that he already created. He already went and found his targeting as far as his Facebook ads and he said I'm ready to go. So I can't wait to hear how this works for him. I think his market definitely will land itself to this type of email list building, so this way here in the future he can, like I said, drive people not just to his listings to buy stuff but also to engage with his audience and learn more about the audience, so he can launch more products successfully. And then eventually he can start running his own traffic to his own ecommerce store, in his own sales funnel because… The other thing I asked him there was another part of this call.
Are there products that someone would buy one and want to buy one of another thing or is there a product that you have that you could buy more than one? Maybe they would buy it you know because they could use three of them or maybe it's because they want to buy them as gifts whatever it is. If you have a product that you know that will land itself to that, I mean that’s a no-brainer. Because now think about this for a second. Let's say we send an email out to our email list and we let them know that we're going to do something crazy. We're going to do a free plus shipping offer.
[00:27:59] Scott: So now we're going to give them one of those products away maybe for free plus shipping, we wouldn't sell it through Amazon now. We could still fulfil it through Amazon, but we're not going to sell it through Amazon and then we would have a page setup that would say, “Just pay for shipping and we'll send you one of these for free.” Now why the heck would you do that? Well on the back end of that, we can say, “Hey before you go we’ve got a special offer for you. Seeing that we're going to be shipping you one of these, let us throw two more in there and we'll just charge you $29.95 and normally they sell for $39.95.” Instantly we've just generate sales, we didn't pay Amazon commissions, okay or the advertising fee. Because we did it through our own sales funnel. You see where I'm going with this?
There's so many things that we can do externally now that we have it. Whether want to boost our BSR and our ranking in Amazon we can do it. If we want to start directing our own sales once we've already gotten them basically off of Amazon or maybe we didn't even get them off of Amazon, maybe we just did it through our giveaway. Now we're able to then direct them to our own sales channel. Our own sales funnel. So that's what I said to Christian. He's all in. He's already got it being built as we speak and that's what he was working on for that retreat but that's basically what we went over. And again and that's what Jamie really taught me, is like there's so much more that we can do but let's not focus on all of that stuff.
What's the thing we can do right now that's going to move the needle? Like what can we do right now that's going to move the needle for you? Whether it's sales, whether it's you know optimization, whether it is how you grow more products, like whatever it is, you have to figure out what that one thing is that you can do like right now and double down on it. That's what you have to do and that's what I said to Christian. That's what he had to do so again this is just a recap of what we talked about and I get fired up about this stuff because it's so powerful to be able to do that and when you are just selling on Amazon and I told him this…
[00:30:03] Scott: I said, “Listen, if you're thinking about leaving your job and all you are is relying on Amazon right now that's risky. Just understand that. If you're going to do that, you might want to have some cash in the bank because if something happens and Amazon shuts you down, you're screwed. Like you're out of luck. And you're going to figure out how to get back on Amazon or else you're not going to get your sales back and then you’re going to be playing catch-up. If we can start to do this now slowly, then we have options, then we have other revenue streams coming in. Not just Amazon, okay.” And the other thing that I said to him, I said, “Hey are you selling ebay.com.” And he said, “Well I was,” and then something happened with his account and he couldn't sell anymore so he just kind of like let it sit and he just didn't even try to get it reinstated for whatever reason.
So I just said well that’s another low hanging fruit. Like we probably want to do that. We probably want to get those products listed on eBay even if you only get a couple of sales a day per product, that’s going to add up and that's another revenue stream. So anyway guys hopefully this has given you a little bit of an insight as what it looks like when you're at a certain level like $200,000 a year and it's funny because I've got people that I've coached that they're doing $100,000 a month and they still haven't built their own email list. They're still relying on just Amazon and they know it's risky.
I had one guy say, “Scott I’m hooked on the Amazon crack, like the drugs, like that's what I'm hooked on. It's so easy to get comfortable because once the sales start flowing in, you just expect that they're going to continue to flow in, until something bad happens and then it's like oh my gosh and then you can't focus because everything is just turned upside down,” and we don't want that. Like I don't want that for you. I don't want that for me. I don't want that for anyone. So definitely this is something I think everyone should be focusing on and even though to some of you it may seem overwhelming it's really not.
[00:32:01] Scott: Once you figure out like what the offer is, what the giveaway thing is, that's like one strategy. You don't have to use that strategy. If you have a product that sells for $75 and you want to do a free offer on that and just start collecting emails on that then do it. That's fine or if you want to even do like 50% off your item and start building an email list that way. Like so many people say, “Scott why wouldn't I want to drive like Facebook ad traffic directly to my Amazon listing?” And my answer is, “Well number one, if they don't buy you're hurting your conversion rate.” That's number one.
Number two, that's a great opportunity for you to snag an email address because now you're able to intercept it and say I'm going to give you this 50% off in exchange for your email address and then most people that's like common like if you want to get, if you go to Applebee’s website or I don't know another chain restaurant. They're going to give you like a free appetizer if you put your name and email address in. Why do they do that? So they can communicate you with future deals. Like we're all kind of conditioned for that, so you can do that too. There's 100 different ways you can do it, but you have to figure out which one's going to work best for you.
I've found that the giveaway of a bundle related though to your product, that to me has been the best as far as getting a large volume of email addresses and then again not to get too technical here but there's so much we can do with those that even if they don't convert to sales, we can take those email addresses, we can upload those inside of Facebook and then we can start to retarget those people. So imagine having a billboard sign in front of all of those people that we know that are interested in our market and if they didn't buy our one product they might buy our other product and we can continually swap out different offers to those people on a daily basis and the only time I'm going to pay for that is when they click on that ad. I'm not going to pay for it every time it's shown and displayed an impression as we call it. I'm only going to pay if they click on it.
[00:33:55] Scott: So guys I can continue to go on this because there's so much that you can do but I just wanted to give you guys a general recap of what I talked about with Christian and that entire conversation and what it looked like and I thought it would be beneficial to you guys and helpful and hopefully it has and I also want to do you know thank Jamie for allowing me to do that. It was really fun and Christian was an awesome guy. I feel like I know him really well now and he's been a listener of this show ever since the beginning and I just, I love it. I mean someone listening to the show, taking some of the advice and then applying it and taking action and now doing at $200,000 and growing a year and 18 SKU’s up to 20 SKU’s whatever he's got and he's going to be launching more.
So just really feels awesome to be able to be a part of this and I just want to thank everyone in the community for allowing me to continue to do this. I generally love it and I care about you guys. I really truly do. I want to see you guys succeed. So that's pretty much going to wrap up this episode. I want to remind you I'm the show notes. If you want to download the transcripts or the show notes to this episode head over to theamazingseller.com/348 and the other reminder is if you want to attend one of our live events, one of our live workshops, the next one we're going to be doing, is going to be building this exact same thing with you and alongside you. So if you're interested in that head over to theamazingseller.com/live and you can get all the details there on that workshop and upcoming workshops that we're doing plus any unofficial meetups that we do.
So get on that early notification list and you'll be notified when we announced that stuff. All right guys, so that's it, that's going to wrap it up. Remember, I'm here for you, I believe in you and I am 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.
LINKS MENTIONED IN THIS EPISODE
- Make sure to check out episode #333 with Jamie Masters – HERE
- Don’t miss a single TAS event – HERE
- Find out how you can get started building your email list – HERE
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