What will it take to get your ecommerce business to catch fire and get off to a strong start? How do you know that the strategies and concepts that Scott teaches are worth it to implement? On this episode of The Amazing Seller, you’ll hear Scott give a helpful update on his brand, how they were able to recover from running out of stock, lessons learned from that experience and much more! Listen to this episode ready for inspiration and motivation to strike! You are going to need pen and paper ready for this one!
Never Link Directly to Your Product Listing!
It’s important that once you’ve built up your brand and created social media channels to connect with your following that you refrain from just driving buyers directly to your product listing. This may seem like its counterproductive, after all, don’t you want to drive buyers to purchase your product? On this episode of The Amazing Seller, Scott explains why it’s vital to redirect buyers to a separate landing page where you can further connect with them and build your brand. Often this is best used as a place to sign them up for your email list and provide them with a special offer. To hear Scott dive deeper with this concept and much more, make sure to listen to this episode!
The 10 X 10 X 1 Strategy
What is a helpful rule of thumb that sellers like you can use to evaluate if a product will be worth the time and resources to get a decent return on investment? Is there a magic formula out there to help guide the way? No! But there is a helpful tool that will guide you when selecting a potentially profitable product. On this episode of The Amazing Seller, Scott briefly touches on the 10 X 10 X 1 rule that he uses to validate a potential product. It breaks down like this, you want a product that will sell ten units a day providing ten dollars of profit for each unit sold. Make sure to listen to this episode as Scott provides more helpful tools like this one!
Lessons Learned From Going Out of Stock
How can you make the most out of a bad situation? Learn from it! Don’t let circumstances get the best of you. There is always something to learn from in even the most difficult of situations. On this episode of The Amazing Seller, Scott shares several lessons he learned when his brand ran out of inventory for their high performing product. He had to remind himself and his business partner, that stressing out and worrying about the situation won’t improve it. Scott also learned that it is an important step in the process to investigate and likely utilize an independent freight forwarder rather than utilizing the one suggested by your manufacturer right off the bat. This episode is packed with additional insights and lessons that you don’t want to miss – make sure to listen!
Relaunching and a Surprise!
It’s important that once you’ve run out of inventory that you put a plan in place to fix the issue so you don’t run into that issue in the future and you know how you are going to re-launch your product. On this episode of The Amazing Seller, you’ll hear from Scott as he opens up about his re-launch strategy and how a welcome surprise messed that all up in a good way! Scott and his team started sharing the news that their product would be back in stock soon, then one of their social media followers jumped on the news and started to promote the link utilizing their influence as a popular blogger. This was unexpected but it spiked sales and worked out wonderfully! Listen to this episode to hear Scott explain the scenario in greater detail and the lessons he learned from it.
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:03] Scott’s introduction to this episode of the podcast!
- [3:00] Scott gives some background about his brand.
- [6:30] The 10 X 10 X 1 Strategy.
- [8:00] Why you should never link directly to your Product Listing on SM posts.
- [14:00] Recovering from running out of inventory and getting back in stock.
- [24:00] Key takeaways from Scott.
TRANSCRIPT TAS 414
TAS 414 – UPDATE: How We Sold 180 Units ($3,697.44) in 24 Hours with NO Promotions
[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 414 and today I am excited because I’m going to share with you…
…a brand update, our brand update and I’m going to share with you how we sold 180 units, $3,697.44 in one day in 24 hours, get this though, with no promotions.
I’m going to share with you exactly how this happened. We didn’t even actually 100% plan for this to happen but it goes to show you the power of an email list and a list in general. I’m going to share with you exactly how this all unfolded, also some big take-aways and also, we are going to be focusing more on now because this, again woke us up and said, “Holy crap, we should probably pay attention to this a little bit more and focus a little bit more of our energy here.”
If that sounds cool, well, you’re going to be excited for this episode. Now, if you want the show notes, the transcripts, all of that stuff, you can head over to theamazingseller.com/414 and everything will be listed there. The other thing that I want to give you as a resource, a free resource today is really about building your own email list because what I’m about to share with you is a result of having your own email list, period.
If we didn’t have that email list, we would not have been able to do this or at least it would’ve been harder and this opportunity may not have happened the way that it happened. It will make a lot more sense as I get going here. Building a list is huge and you guys have been hearing me talk a lot more about that and I wanted to again, give you that resource, theamazingseller.com/buildlist. Free resource, no strings attached, it shows exactly how we’ve built lists in different markets and how you can do the same.
[00:01:59] Scott: Then from there you can start to use some of these strategies that I’m going to be really uncovering here, inside of this episode and probably more in the future because we’re just getting started. There’s a lot that we are going to be doing here and even after just this update and these numbers really just blew us away.
Again, just understand that. We sold 180 units and our average selling price was $21.50 across the brand. This brand is brand new, I say less than a year old, it’s about six months old and everything that I’m sharing with you is the exact play by play. It’s the exact thing that we’re doing, there is no secret sauce that were, a lot of people say, “Scott, but what do you really talk about with Chris Shaffer, behind the scenes? What do you guys really…? What's your big secret?”
This is it. I’m going to give you guys the secret right here, today as far as, like how we sold the 180 units. Again, just to let this all sink in, we are going to be really covering exactly how this all unfolded. Let me get started by sharing a story with you. We ran out of stock with this one unit. This one unit we launched, and again I talk a lot about, I gave you guys another update in the past, I will link up to that in the show notes you guys have access to that, rather than throwing more links at you right now.
Really, the back story is, with this brand, we’ve been launching products pretty aggressively for the past six months. I think right now as we speak, we have about eight or nine SKUs if you count the variations. Out of those eight or nine SKUs, not everyone is a homerun. Actually, most of them are not home runs, some of them are just base hits.
Some of them aren’t even base hits, some of them we’re going to just sell through the inventory and then just discontinue because they are not doing what we want them to do or the margins aren’t there in comparison to the other products that we could take more of our capital and invest more in those.
[00:04:05] Scott: Perfect example is this product that we launched, that we had 1500 units and we sold out of those 1,500 units really, really quickly. Within a month, we sold through those without any major promotions like just maybe a couple of little announcements on our email list and that was really it.
Very little pay-per-click on this product as well, very little, but we started ranking and it started to resonate with our markets so it started to work. The back story is this, we ran out of inventory, we’ve been out of inventory for five weeks, five weeks! I get a lot of people who say, “Scott, what do you do when you run out of inventory? How do you get the ball rolling again? How do you get ranked again?”
We actually had a conversation with Dom Sugar not that long ago and he was saying like, if you just kind of like, let’s say for example, you run out of inventory and you’re selling 10 units a day, let’s just make it easy. You’re selling 10 units a day and you run out of inventory. You’re out of inventory for five weeks, you’re just going to lose all your moment, everything is gone.
If all you do is just add your inventory back, you restock, and you just let it sit there, you don’t really run any pay-per-click or anything, it’s going to take several weeks before you are going to start to get any traction, if you get any traction at all. Then generally you will want to start your pay-per-click to really start to get eyeballs again and to get back where you were because Amazon does have a memory. It does have history and that’s why we always like to go out on a bang.
We don’t want to slow our inventory too much because we want to go out with a high conversion rate, so this way here Amazon will see that we are back in stock and says, “That thing was selling really well, we should probably put them back to where they were because people loved it.” It makes sense, it’s pretty simple to think about it that way. We were out for five weeks and let me just kind of give you a little bit of a back story on that. It was painful because we ran out of inventory, our last 244 units we sold on that one in a day, day and half, I forget what the exact number was, I think it was a day.
[00:06:10] Scott: Sold it out. Something very similar happened to what just happened here with these 180 units that we sold in a day. What happened was our product was selling really well. We were getting it to about 20 to 25 units a day which we again, was following the ten by ten by one strategy and a few guys who are brand new to the podcast, the ten by ten by one is really finding a product that can sell 10 units a day, it can do $10 profit and you can do that with one product, so ten by ten by one. That’s what that means.
So, that's all we are shooting for. We got it to about 20 to 25 units a day and we weren’t even running any pay-per-click at that point. We dialed it up in the beginning, we did all the normal stuff, we emailed our list, we sold through about 100/150, over the course of like three or four days, we did some Facebook posts in our group and it started getting some steam.
We just let it sit there at the 20 to 25 a day and things were cool and then what happened was we got down to about 244 units. I know that exact number because that’s where we were and then all over sudden, our posts, one of our posts that we had put out there on our Facebook page had gotten shared and then that got shared into a bigger Facebook page related to our market and then all over sudden we sold through the 244 units.
It was like instantly. So, we were like, “Holy cow!” We couldn’t even stop it. Now, one thing that we did that I think is really important to understand here and it’s a big take-away, this is a big nugget, this is a writer-downer, or remember this or go back and get the show notes to this because this is a big one.
[00:08:00] Scott: What we did is we added to our post, a link that we could swap out. So, this way here, if we ever do run out of inventory, we can always replace that with another link to another product or to an email list, the capture page, which that’s what we did, but we wanted to be able to control that particular link.
What this means is, now that we ran out of inventory, we could swap that link out to go to a landing page or an email capture page, whatever you want to call it, where people could go there and go, “Oh! Sorry we ran out of the inventory, if you would like to be notified when we get back in stock, enter your name and email address and we will let you know,” and we did that, and we swapped out that link.
They call that a Pretty Link too in the Word Press world, they call that a Pretty Link. You could probably use just a Google Shortener, or a Bitly link or any of that stuff but we like to use our own link. So, it’ll be like theamazingseller.com/414 that brings you to the show notes, that’s just a redirect to that big long link but I can change out that to go anywhere I want.
It’s the same thing here. What we did is we swapped that link out the minute we ran out of inventory because we had that, we swapped it out with a Pretty Link. We swapped our Pretty Link with another link that went to a capture page to say, “Sorry, we ran out of inventory, if you want to be notified, put your name and email address here we will notify you.”
We got 200 people, 200 people that said, “Yes I want to know when this is back in stock because I want one.” Now, that doesn’t mean everyone’s going to buy them. A lot of people will say, “Oh wow! You’ve got 200, that means you’re going to sell 200.” No, it doesn’t mean that.
Usually 10% of those would be good, would be happy with selling 10 but at least we know we’ve got 200 that raised a hand that are interested. Now there is other things we could with those email addresses, we can send them to our content now because we know that they are interested in our products and all that stuff, we can do Facebook ad targeting to those, but that’s a whole other conversation.
[00:10:03] Scott: We have 200 emails on top of our regular email list. When we get back in stock, guess what we are going to do, we are going to email those people, right? It’s no brainer. We didn’t pay for those emails, we didn’t pay to advertise, we just had a link that was embedded into our Facebook post that got shared and then we were able to swap out that link. That’s why I would say never directly link to your product.
Now, if someone shares your product page just because they do, then they do, there’s nothing you can do about that. But whenever you publish stuff on your Facebook page or on your blog or on your website, if you have a way that you can swap out that link with another redirect, that’s where you can control the power of where that link goes and depending on if you want to send them directly to the offer or if you want to send them to a pre-qualification page, this way here you don’t hurt your conversion rate either, but for us it worked out because we built another email lists of people that said, “I want this product.”
Think about the power of that, like, “I want this product.” So that’s rider-downer guys. Whenever you are creating content for your Facebook pages, your groups, whatever, always use a link that you can redirect. I don’t really care where you create that, or how you create that, I use a little free plugin for WordPress called Pretty Link, it's free, there is paid version, I use the free version, that’s all I need it for, it gives me stats and all that stuff too, I can easily switch that link out very, very quickly.
That’s a big take-away and that’s not even really what I wanted to discuss here today but you guys can see that’s a big one. We had some shipping issues, we were supposed to be back in stock in two weeks and that was killing us. We were like, “Oh my gosh!” And we looked at our numbers and we were like, “Oh my gosh!”
[00:12:00] Scott: Amazon gives you this little report of how much money you technically lost since you’ve been out of inventory because if you had stock at the rate you were selling you would have made this much and maybe that’s not all 100% true but it gives you an idea that if you are in stock there is a chance you could have been making that kind of money.
It said like $27,000 is what we lost and we were, “Oh my gosh! This is killing us.” Two weeks goes by, we are supposed to have our inventory landed, my partner calls says, “Yep, it’s going to be here,” and nope, it got hang up and we didn’t know where it was hang up. So, another week goes by, figured out that our freight forwarder figured out that it was sent to Canada, for some reason. I don’t know if it was like they wanted to go through customs here or what.
I don’t know why, still don’t why to this day but it got shipped there and nothing we can do about it. When now it gets tied up in customs there for like three, four days. Well, finally, it gets released and then now it’s in transit to go to its final destination which will be in our warehouse and guess what?
Three, four days go by, five days go by, finally get a hold of a freight forwarder, they can’t find the shipment. It can’t be tracked, so now what? Well we are frustrated and feeling a little bit discouraged and we’re thinking about all the sales we are losing, this is one of our better products right now, it’s got some momentum, it was giving us a nice cash flow.
Now, we are not pulling out any money out of this brand right now, we are taking all that money and rolling it back into product. That’s kind of our first 12 month strategy really, is we are not really needing to pull anything, we just need to keep rolling it back in. We'll see how we do after fourth quarter, we will kind of re-evaluate that but that’s where we are at right now because we want to just keep building up momentum.
Well, that cash flow is not coming in now and we’ve got other products that we want to source and we are kind of counting on that money to help us fund that. It’s not coming in, so we are frustrated. I share this with you because not everything is pitchy, not everything is perfect and it’s not going to be.
[00:14:05] Scott: It’s okay and it's funny, my partner texted me all in a frantic and just kind of just stressing out, losing sleep. I’m like, “Listen, take a deep breath,” it's exactly what I said, I said, “Take a deep breath, relax, okay, we are going to get through this, you’ve done all you could do up to this point and now we have to wait for an answer and then in another day or two you reach out again, you just go through the process, this is the process. Guess what else we learned, we’re probably not going to use this freight forwarder again.”
I think what we did here is we used our manufacturer’s freight forwarder, we didn’t even use our independent one. So, we learned something, again I always go back to learning a lesson. We learned a lesson. We learned a big lesson. Always think about taking a struggle or a frustration and turning that into a lesson. There’s always a lesson there, so just a little side note there for you.
Finally, we receive our new inventory, it’s in our warehouse we still did not directly ship that to Amazon on this load. This was a 1,500-unit load and the reason why did that is because we didn’t want any hiccups. We didn’t want to run into any snags, we ended up running into snags but we just didn’t want any other additional ones because if it went indirectly to Amazon we could have another issue there.
We did it that way, in this next order we’ve got 3,000 units coming, we may split that one up and do partial shipping direct and then partial to our warehouse but anyway, we finally received it, we got 500 units enroute and you guys know that when you ship product in and Amazon starts to check it in, even though they are checking it in and they are probably distributing it amongst other warehouses in their network, it’s going to be hang up for another four or five days but it says that it's being checked in.
[00:15:59] Scott: When it does that, it will give a projected order date or a receiving date for the customer. So, the customer can pre order in a sense because Amazon knows we received it, we have it, so we are willing to sell this thing but it’s not going to be in stock until a certain date, like three days from now because they know it’s going to take that long to get it to the other warehouse to get it checked in.
People can still keep buying it. So technically we are live, and you would say, well, some people aren’t going to buy it because they’re going to have to wait for it. No, it’s not true, they are going to buy it especially if they want that product. So, we basically are live now and in the meantime, of all of this craziness that had been happening when we were expecting to get it back in stock within a week, we were starting to post that and mentioning that on our Facebook page.
Now, our Facebook page is not huge, under 10,000 at this point, we are looking to double that or quadruple that here by the first of the year, which a pretty hefty goal but that’s what we are going for because again, you guys will see here in a minute why we are so fired up about this as far as Facebook pages, groups and your email list combined that’s a huge bonus for a lot of businesses out there but our re-launch strategy has really just been mentioning it on our Facebook page and then from there we were planning to send that out to 200 people.
We were going to email 200 people. The 200 people that we were able to get them to raise their hand and say, “Yes, I want to be notified.” We were going to send it out to those people and we were planning to do a small discount to our email list of 10,000 people that we currently have on that email list for this market.
That was the re-launch strategy, that’s what we had down on paper. We mentioned that we were going to be back in stock at a certain date. Before we even had time to email our 200 people, someone in our group also on our email list, we found that out later had posted that we were going to be back in stock on another page.
[00:18:10] Scott: Now, a couple of things to understand here. If we didn’t build that email list, we wouldn’t have that person on our Facebook page because I would say probably 90% of the people that come over to our Facebook page are part of our email list and that’s because we tell them to go over there. So again, you can see, we want to be able to touch these people in multiple places, email list, Facebook page, Facebook group, Instagram, wherever.
Right now, ours is email and Facebook like those are the two but they actually shared this and we started to get sales. So, one of our Facebook fans shared this on another popular group inside of our community, inside of our market saying that, “Hey these guys ran out of stock before, you better get on this if you want it.” Now, the other interesting thing that we found out is the person that shared it is also a little bit of a blogger.
Because of that they know that they can share that link and they can have an affiliate link attached to that. They use their own link. The downfall to that is we have no way to control the traffic. If we run out of inventory on that link again, it’s going to go directly to Amazon and that’s not good. We don’t want that but in this case we really don’t care because they shared it for us and they did the work, but the important thing to understand here is this person understands that they can make money as well by promoting our product through Amazon and we won’t pay anything extra.
Amazon pays them a small percentage and they know from the last time that it ran out, that it ran out so fast that they know if they posted again they’re probably going to get a whole bunch of sales and guess what, they did. They got another 144 sales. I don’t know if they all came from that one person but they probably got 100 sales through that link and guess what, they got paid by Amazon, not us.
[00:20:11] Scott: Here’s the other interesting thing. We didn’t even discount the product. We didn’t even discount it and the other thing to know is, we are the most expensive in our category right now. The most expensive by almost three times. Why can we do that? Because we have a little bit of a different product, we’ve identified a couple of things that people wanted that the others don’t have.
We also have someone that’s a face to our brand. Someone that people trust. We also demo it, we also show how to use it, we also show tips. We do all of that stuff. So, because of that if you wrap that stuff all around it, it becomes even more powerful. So, here’s what happened, by 12 p.m. that day, that it was shared, we had sold 70 units and then from there I kept refreshing, I couldn’t believe it.
I actually emailed Chris Shaffer and I go, “Chris, did you send off that email?” and he says, “No I haven’t sent it out. I’m getting ready to queue it up, I’m waiting for the coupon code to go live”, and I go wait a minute, hold off on the coupon code, there is no reason to, we don’t have to give any discount now.” So he killed it and then we did end up emailing up our list of 200 and I think he reported back.
I think we sold 12 from that list maybe 12 or 15 which is still great. We ended up selling for that one day in 24 hours, 144 units from that one product, total across the brand we did over 180 that day. It was actually one of those days that generally slower for us if you look at the brand across the board.
We were able to add additional sales, I believe to that day that’s normally a little bit slow because people were coming there. They were also then seeing some of our other products or maybe they’ve seen down below the price where we have a promotion that ‘Buy one of these get a discount on these' kind of thing.
[00:22:01] Scott: All right, but 144 units in 24 hours. Now here is the other thing that post that we shared inside of that bigger group, got pulled about three hours later. If you really want to get technical, 100 of those sales probably 100 of those sales, 110 of those sales came because it was shared in a group that was posted for three hours, just three hours.
What can we say about Facebook pages and groups? They work, if the market has a group that supports that market, and you put product out there that is directly related, it can do really, really well. Okay, so understand the power of not just throwing something out there to a review group, right or a group of deals… To me doesn’t even compare.
Okay, that doesn’t even compare because we have people that are going to come back, they’re going to be repeat buyers, there are going to buy other stuff that we have. We know who they are, we know what they like. We know what posts resonates with those people.
Again, that is everything that we did in a nutshell and again we still haven’t even fully promoted it. We haven’t even actively, we didn’t even email our full list yet. We’re a little bit thinking that we don’t want to get a ton more so we probably won’t even do a huge discount.
We may just say, “Hey, we’re back in stock,” because we don’t want to run out of inventory again. We only have 1,500 units we’ve got 3,000 units coming on the back end. We’ve got another 3,000 that should be here in about 30 days, that’s going to be for the fourth quarter.
Again, we got to look at this and go, “Okay, is this just something that happened this one time or are we going to consistently sell 30, 40, 50 a day now and it’s not even fourth quarter.” I mean we’re thinking of ourselves in fourth quarter generally we’re going to get two, three-X what we are currently doing.
[00:24:00] Scott: We have to now start looking at our inventory and this is stuff that you’re going to consider. It’s hard to do because you can’t really predict. All right, so I wanted to give you guys some big takeaways here. Okay, some of the big takeaways that we are looking at now from what just happened.
Number one, the power of a list. If that’s not proof for you to see the power of a list. I don’t know what else I can share with you that would prove to you the power of a list is so, so important. Okay and that doesn’t matter if it’s your list, if it’s someone else’s list. If it’s an Instagram page that gets a ton of engagement, if it’s a YouTube channel that gets ton of engagement, I don’t care what it is that’s still a list. Okay, but it’s directly related to your market. Okay, so number one the power of a list, our big, big focus is building our list even bigger okay and even just more targeted.
Number two, the power of a Facebook page or group or both. When you get a group of people that are all surrounding each other and connecting with each other on a certain topic or a certain market, and you put something out there that’s related to what they are into and people like it, and then you get people saying, “I love mine or I love using mine this way or I’ve taken it on trips or whatever right.”
If you get that stuff you’re going to start to get more engagement then it gets people to see it, you get people to want it. It’s like that social element piece that’s build in there that you don’t even have to do. That’s the power of Facebook pages and groups okay. Number three, one subscriber can get you exposure by sharing and we again, this is a takeaway for you but it’s a take-away for us as well.
A lot of times people look at okay, what’s the ROI? What’s the Return On Investment for going out there and advertising to get people on my email list or people to like my page or my group?
[00:26:03] Scott: What’s the ROI? A lot of people will say, “I want to see that I spend a dollar and I made two.” That’s the general thing we all would want to do that. I look at it differently and this is a perfect example of this. This one person that shared that they’ve probably bought one themselves but now they like it and now they’re a blogger and now they are sharing it and now they are helping to promote it.
Yes, they are making some money on the back end, not much by the way. They are making 4% or 5% from Amazon not us again. Amazon is paying them as an affiliate. They’re an associate of theirs in a sense and you can be too you can sell other people’s products through Amazon's affiliate program.
Okay, you don’t get paid much but you can but at least it’s a little bit of an incentive for this person. This one subscriber helped to make this all happen. Again, don’t just look at the number of what that subscriber or that buyer or that person in your community bought with money, think about what they can do to help you reach more people in your market. Focus on that and understanding that is a game changer, because then you’re not just focused on, “Well this one person they bought something for me or from me and I made money.”
No, how much business did they bring to you over the course of the time that they are part of your group or your community. That’s what you need to be looking at, so that’s a big one. Then the fourth thing is and this is a big takeaway for us is focusing on building that email list and Facebook community for our brand.
We just had a little internal meeting just day before yesterday. We just said, “Listen we’ve got to double down on this.” This is proof again that our group is small, it’s doing well but the group that it gets shared in is doing even better. We’ve got to replicate that.
[00:28:00] Scott: We’ve got to make our group that big with that engagement and that’s got to be our focus, because if you do guess what, it’s a no brainer. You just put the stuff up there and it’s going to sell, okay. Again, that’s the power, that’s the leverage of having your own email list, your own Facebook page, your own Instagram whatever it is.
I don’t say to them all either, I say go where your market is and then start building that platform in that group in that community. Now I’m going to give you an example here before I jumped on to do this podcast, I wanted to give you an idea because a lot of people say, “Well, Scott, how do you get more people to see your page and how do you get people to engage with it and all that stuff.”
We’re playing around, we’re doing these, little round up posts, where you actually go out there and you find five or seven or ten things that’s related to your market that would get shared and that will help get people to see it, because when people share it guess what other people see it and then they see it.
Then they want to share it and it just keeps going. That can turn a post and it can make it go viral. It was funny I was doing this; you guys hear me talk about the fishing market quite a bit. I stumbled on this brand, they’re doing a great job and here is how I found this particular post. I went on there and I said, I think it was the 10 best fishing whatever.
I think that’s all I put in there, ‘The top 10 bass fishing,' and then I see what came up. It came up seven bass lures that you can rely on year-round. Okay, so seven bass lures that you can rely on year-round. That was the title, okay and that was first in Google.
Number one it will rank in Google too. If you do a blog post on your website, Google will find that and especially if it gets engagement, it will get ranked. I found it, I went on it I looked at it and all is is seven, exactly what it says.
[00:30:02] Scott: It gives you seven of them, it talks a little bit about each one of them and it also has links inside of there that goes either other posts on their site or it goes to a product outside of that. I also found out what their monetization is on this and I will share that with you in a second.
I went then on their post which brought me to their blog post where again it’s ‘Seven best lures that you can rely on year-round.' If I’m a fisherman I want to look at that because I want year-round lures and I want to see what this is because I’m interested in it. I went there and I had seen that they have an Instagram.
I go okay, “I’m going to click on their Instagram.” Well, the name of their website is Mystery Tackle Box. I love this idea too by the way. A lot of people are doing this now where you have a box that comes in the mail. My son actually came to me with this business idea because someone else is doing it and he thought it was a great idea.
It’s where you can have a box of stuff shipped to your house it’s a mystery box every single month and it can be in any market. For example, for him it was like you get an outfit, so you get a shirt, a pair of pants, maybe a belt and a pair of sneakers and it all comes and it might be like 97 bucks a month or 197 bucks a month or something like that.
This is like usually high end stuff like sneakers, and the belt and the shirt and everything, but everything ties together. You’re on a subscription. Then from there they’ll send it to you every single month and then you have the option to either keep it or not.
Then from there you can wear the stuff and look cool and then post it and then share it and all that fun stuff right. This is in the fishing industry so I’m like, “Oh, this is a cool idea.” It’s called Mystery Tackle Box, so every month if you subscribed to this, you will get a mystery tackle box okay. You’ll get different stuff that you can put in your tackle box every single month and you get to try out new lures.
[00:32:03] Scott: You get to try out new maybe fishing line or whatever. I don’t know what’s 100% included but you get the idea. Instagram, they have 286,000 followers and here is the cool thing, is on their post they’re getting between 8,000 and 12,000 and 15,000 likes in a really, really short amount of time.
I looked at one that was posted a day ago, it had 8,000 likes. That’s how I see if a page has engagement by the way. If you’re going to go out there and look for an Instagram page to see how many likes they’re getting in a certain amount of time. That’s how you’re going to determine if the page has got engagement.
If you have, if you’ve seen this page 286,000 followers and they have 60 people like it in a matter of I don’t know a day. It’s not getting really a good amount of engagement, 8,000 is pretty good for social media. Now, so I found that okay, so now I’m starting to drill in a little bit. I go, “Oh, okay they’ve got a YouTube channel.”
I go on the YouTube channel they’ve got 68,000 subscribers, okay and in one week I always look at this too on the YouTube channel. I look in like one week they posted a video, what were the views and I think it was between 6,000 and 8,000 views, pretty good okay.
They’ve got a pretty good YouTube channel okay, and then I went over to Facebook they’ve got a Facebook page and they’ve got 523,000 followers. Think about what they’re doing here they’re putting out a post and the title of it is seven best lures that you can rely on year-round, grab the attention of the market, brought them over to a blog post.
Now they can go over to my Instagram, they can go over to my YouTube. They can go over to my Facebook and they can start to really get themselves rooted inside of the brand. Then guess what everything leads back to? Mystery Tackle Box. Their subscription service, right. They post on a regular basis on these different channels, these different platforms.
[00:34:02] Scott: They also have the subscribe button on their websites, so they’re probably building an email list and I’ll probably subscribe to that and I’ll probably go ahead and see exactly what they are doing marketing wise. I think this is a great thing to model not necessarily you’ve got to go build the mystery box of some kind monthly, which is a great idea.
This is something that you can see exactly how everything is leading back to the offer or their products okay. Again, it all came because we seen that they posted this blog post seven bass lures that you can rely on year round and then from there it led me through their brand and their journey and I got value from it and now I’m a fan.
Okay, so that’s what we’re looking to do, we’re looking to do stuff like that, seven bass lures that you can rely on year-round in our market. That type of post that will get shares that will get likes and then we’re going to drive people to our Facebook page, build that up and then from there we’ll be able to engage with those people.
We haven’t even started our YouTube channel yet. Again we’re not doing that yet even though I know that we would do well there because our focus needs to be, it needs to be tight. It needs to be on one or two platforms max and right now we’re building our own email list.
I think that’s first and the second one is Facebook I think that’s the next one for us. Well it is because that’s what we’re doing. Then from there we’ll start to add probably YouTube and Instagram those will be the next. Right now, that’s where we’re at all right.
This went a little bit longer than I expected but I wanted to give you guys the play by play. I wanted to give you all the details. I wanted to let you guys know of the hurdles that we had to jump and the hoops that we had to jump through as well because it wasn’t all a smooth sailing. Things are doing pretty well right now, like I said we ran out of stock after July. July, we had a great month we did I believe it was just over 34,000. I think it was over 30,000 and I know that for sure. That was in one month and that’s revenue guy's, not profit.
[00:36:03] Scott: We are on this especially on this one unit we’re about 48% margin on this crazy awesome. Again, guys I just wanted to give you guys the play by play and let you guys know that I just I want you guys to see the value in building a list, building a Facebook page, group whatever.
Really being able to dominate your market because then your competition on Amazon people that are just thinking to themselves I’m just going to launch a product on Amazon and let Amazon do all the work.
You’re going to have people like us that are doing this type of stuff that are putting in the work, it’s going to make it a lot harder especially if you’re getting into any bit of a competition or high competition market at all. We are I think are in a little bit of a medium.
We are not in that high but not low either and I think it’s going to only get a little bit more aggressive but we are way, way ahead of the game now because we have all of these things in place and we’re building these things consistently. All right, so guys the show notes can be found at theamazingseller.com/414.
The resource that I mentioned for you to learn about building your own list, head over to theamazingseller.com/buildlist and you’ll find all of that there. I will keep you posted on the next part, the next twist in this story of this new brand that we’re doing right now. I think the fourth quarter is going to be crazy.
That’s it guys, that’s going to wrap it up. Remember as always, I’m here for you and I believe in you and I am rooting for you. You have to, you have to… Come on say it with me, say it loud, say it proud, say it with a little energy today I’m fired up, “Take action.” Have an awesome amazing day and I’ll see you right back here on the next episode.
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