Is your ecommerce business firing on all cylinders? Are you considering making some changes to your business in 2019? What if there was a way to increase sales and drive traffic for free? On this episode of The Amazing Seller, you’ll hear from Scott and Chris as they dive deep into this important topic. In their conversation, the guys break down why building an email list is so critical, what the actual cost of building an email list is, how an email list gives your brand a unique advantage, and so much more. Don’t miss a minute of this helpful episode!
Do give away contests really work?
If you’ve been in the ecommerce industry for very long, you’ve probably heard of sellers who use give away contests to get an email list built, but does that really work? Don’t you end up with a bloated list of people who want a free product or prize? While the chances of getting people who are just in it for the prize is a factor to consider, you can limit that issue by giving away a prize or product connected to your target market. If you are going into kyack bass fishing, you shouldn’t run a give away featuring a new iphone! Make sure you are using a giveaway strategy that works by listening to this informative episode of The Amazing Seller!
Is an email list worth the cost to build?
Have you considered building an email list for your ecommerce brand? What is keeping you from pulling the trigger and building it? Are you worried about the cost that it’ll require? According to Scott, the benefits of building an email list vastly outweigh the costs. With an email list, you can drive sales, spike traffic, launch new channels for your brand, get feedback on what people will buy, and so much more. If you are on the fence about building an email list for your eceommerce brand, this the episode you need to listen to!
Attention is the new currency.
Did you know that attention is the new currency in today’s ecommerce marketplace? It’s true! If your ecommerce business has established an audience, there is no limit to what you can do to create streams of revenue. From blogging to building out a thriving YouTube channel, if you have people following you, the value of your business goes through the roof! Don’t miss this opportunity to take your business to the next level of growth. To hear more about how to capitalize on an audience you’ve built from the ground up, make sure to listen to this engaging episode of The Amazing Seller!
10 reasons why you should build an email list.
How can an asset like an email list help your ecommerce business grow? Does it all come down to luck or is there something that sellers like you can do to properly position your business for long-term success? On this episode of The Amazing Seller, you’ll hear from Scott and Chris as they provide ten reasons why sellers like you should build an email list.
- You’ll have a loyal list of people who follow your brand.
- Traffic for your blog, Facebook page, YouTube channel, etc.
- You get to sell your product to a custom audience.
- Your list can buy affiliate offers off of your blog.
- Use a tool like AdThrive to get revenue from your blog traffic.
To hear more from Scott and Chris and to get the full list of ten reasons why sellers should build an email list, make sure to listen to this episode!
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:03] Scott’s introduction to this episode of the podcast!
- [5:00] Chris explains the tension between traffic and sales.
- [8:45] Scott stresses why sellers like you need to build an email list.
- [12:00] What is the acutal cost of building an email list?
- [15:30] Chris describes the advantage that an email list gives your brand.
- [20:00] Attention is the new currency.
- [23:40] Chris goes over the give away strategy.
- [27:40] Scott gives 10 reasons why sellers need to build an email list.
- [38:00] Closing thoughts from Scott.
TRANSCRIPT TAS 617
TAS 617: INCREASING SALES on Amazon and Traffic for FREE (#1 Method and Others)
[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 617 and today I'm going to share with you…
[read more=”Read full transcript…” less=”Read less”]
…a recent Facebook Live that myself and Chris Shaffer did. And we talked all about increasing sales on Amazon and traffic for free and we shared our number one method in 2018 and one that is going to be even bigger in 2019. We also talk a lot about just how we are building this future proof business but it does come down to building these assets.
So we're going to share with you some different methods and strategies but we're going to really share this number one method with some of you probably can guess but you're going to get the nitty gritty, so you're going to stick around. Let me just say once again that this was a Facebook Live so, as expected the quality isn't 100%. It's not as good as if we were just going and recording a podcast episode with our mics and without it being encoded through Facebook and stuff.
But just want to let you know, I'm aware of it but I felt like this episode that did we here, this Facebook Live was such good content. We had great feedback, people loved it and I just wanted to share it with you because I think it will give you the number one method for us but also I think that you can model if you want to. Then also just to a little bit of a bigger thinking moving into the new year and really what to focus on in that overall big, big picture.
And I think it's going to be useful for you. So just to let you know I am aware of that. I also want to remind you that if you are not part of our Facebook community and you wanted to see these Facebook lives when we do them, which I'm going to try and do more on a regular basis here coming here in 2019 you're going to want to head over to theamazingseller.com/fb and that will take you there. And that way there you might be notified.
[00:02:02] Scott: Facebook is a little tricky sometimes. They don't always notify people but you probably will if you interact with one of our Facebook Lives or one of our posts or any of that stuff. So if you're interested in catching one of the Facebook Lives that we've done or that we do, head over to theamazingseller.com/fb. So I'm going to stop talking so you can listen to this episode and you can get ready to implement this in your business if you want to. Only if you want more traffic and only if you want to increase sales then you might want to listen to this because you might pull out a golden nugget or two.
So sit back, relax, and enjoy.
[00:02:40] Scott: All right, here's what I want to discuss today because I think it's important moving forward into 2019 and beyond. And you guys have been hearing me talk a lot about how to build a future proof business but more importantly how to build a real business that's not just an Amazon business and that's something that I think we have to get rid of as far as our vocabulary, because that's not necessarily what we're doing, I hope that you're not doing that. I hope you're building a real business and you're using Amazon as a channel to sell products.
That's what I'm hoping that you guys are doing. Now, what I want to really go over today Chris, is I want to talk about this one single asset, we have more than one. But this one asset has increased our sales and traffic for free and I want to share how people can create their own. Now, the reason why I want to do this is because moving forward we all know competition is becoming a problem for a lot of people that are just launching products on Amazon or they're picking their product on Amazon and then they're going through all of the so-called strategies or formulas to do it.
But they're finding that their competition is really hard to deal with because before you know it, you've got someone that's already ripped off your product and then the only thing you're doing is competing on price. When we compete on price it's what we call race to the bottom and then you have to start over again and hopefully you can get through your inventory and all that stuff. You’ve probably heard stories, or maybe it's even happened to you where you launch the newest fidget spinner let's say and you got there first.
You sold through your 1,000 units really, really quickly. And then you went ahead and ordered another 5,000 because you're like this is it, I won. And then 10 or 20 or 30 more competitors come in before you even get that next batch here and launch and then you're either stuck with them and you have to liquidate them, lose money. All that stuff.
[00:04:37] Scott: What I want to do here Chris today is I want to talk about how this one single asset has increased our sales and traffic for free and really how people can do it. So where do you want to start Chris because there's a bunch of different things I could start with. Where do you want to start?
[00:04:54] Chris: I think I want to start with the options that people actually have. The catch 22 inside of the Amazon ecosystem if you will is that to get sales we need traffic but to get traffic we need sales. There's like a chicken and egg problem a lot of times because if we've never and we discussed this the other day. If we've never had somebody hit our listing we're ranked behind everybody who ever has. Even if they've never made a sale. So really we need to start focusing on traffic upfront.
And from where I am, Scott there's really only a handful of things that people can depend on inside of the Amazon ecosystem and one of them isn't even really super dependable but it can be great. The first one is that organic traffic. The second one obviously is PPC. PPC is a little bit more dependable because we're paying for replacement. We can make sure that we show up for searches if we use them. The third one and it hasn't been reliable really unless you had a no brainer type of a product for the last year or two but it can work really well if it does is lightning deals.
But organic traffic and PPC for me really are the only two ways inside of the Amazon ecosystem that we can get that traffic to our listing. Now, we have to use PPC to drive that upfront and so that can become kind of an issue for people. And it's not always possible to scale those things out to reach our maximum potential. At some point we can't keep putting 20 more dollars into PPC and getting $40 back out. Our ACOS starts to creep up or we just stop getting shown because that's the maximum number of people who are searching for that thing. So we need to look for some other types of traffic and we'll dive into that here in just a few minutes.
[00:06:43] Scott: Let me talk a little bit here about lightning deals because when they first came out they were amazing. Like wow. They were like awesome. Like they worked really well. But like anything else, the more you see it, the more other people start using it, the effectiveness goes away. It's just the way it works. It doesn't matter what you're going to put out there as far as even like the early review program that they have, that used to be more effective than it is right now. It probably still works.
But doesn't work as well. It kind of just gets fatigued. It's like pretty soon people are like us, consumers are like, ‘Oh another lightning deal.’ They don't even like pay attention and then you're just seeing hundreds of these things all the time. It's not like it's really exclusive any more. It kind of goes to the next thing, it's like what a lot of people are relying on is the common tactics and one of them is deal sites. And used to be review groups or giveaways or whatever you want to call it but the deal sites, and we all know which ones we're talking about.
There's a whole bunch of them out there. There’s some good ones and there's some that aren't so good. There's rebate clubs now which is against terms of services but there's all different ways that people are trying to either get reviews or get sales. And they are using the same sites to do so. So when you put your product up there, it doesn't get the attention it used to get so it's not as effective and that's the only thing you have that you're able to drive sales. Because we all know if we drive sales, if we have a way to drive sales ourselves then we can drive up the organic rank, and if we drive up the organic rank we're going to be able to get sales as long as we have good products.
Yes, we can sprinkle in some lightning deals if we want to if you think it's a good thing for you. But us personally we haven't ran one in forever because we have our own little lightning deal engine that we're using right now and that leads me into our number one asset right now. We're building other ones. But this one right now is performing really well and it is, you probably already guessed it, if not I'm going to tell you right now.
[00:08:44] Scott: It's our email list. Our email list right now has just been such a huge asset for launching products so when we launch products, we're able to use that list, we're also able to drive traffic over to other platforms to build up our social media channels. So you have Facebook, you have YouTube, you have all of those. So that's another way to use that email list. You also get brand loyalty. People that want to be part of your brand because you're sharing things along the way, resources and just different tips and tricks or just being human and showing people that there's a face to the brand.
Or there's a person or a family behind a brand. Like that's really, really powerful. But then when you go to make sales it becomes so much easier. So all of those things go into the email list and some people say, ‘Ah, email is dead.' Is email as effective as it was 10 years ago?
[00:09:40] Chris: In 1999, probably not.
[00:09:43] Scott: Right, exactly. But is it still effective? The answer is hell yes. It is. This week has proved it once again for us. Actually, it's been proving it over and over again. Because we built the list… And I'm going to give you guys some ideas and some tips on how you can do that, because a lot of people are probably like, ‘Well, this is great Scott but how did you actually build it?’ We've talked about it and you've probably heard us talk about it before. But I'm going to go through it again here in a sequence so you guys can understand what we've actually done.
But what we're talking about here is a traffic channel, an email list is a traffic channel. A social media channel is a traffic channel. But the email to me has allowed us to be able to really just amplify things and get things started a lot quicker and we started right out of the gate with the email list from a list of like 3,000/4,000 people all the way up to now we've just crossed over 30,000 and we're still getting good open rates, we're still getting amazing click through rates.
And we're able to drive sales and we just started running this 12-days to Christmas sale which Chris is going to talk a little bit about because he's got the numbers behind that. But it's been working really, really well. But then some people would say, ‘But Scott didn't you pay for that list?' In the beginning yes. But that list continues to pay us back every single day and right now I know it pays us back every day because every time that we send an email we're also able to now monetize, which basically means make money from our blog traffic that we’re sending people to even if we don't pitch our product.
Last month we did just shy of $1,400, this month we're probably going to do $1,700 to $1,800. That's ad revenue not even relying on Amazon. So is this asset worth taking the time to build and investing in? Yes. And then once you have it, you can do things like we're doing right now with this list that's even already paid for time and time again, probably ten times over. And we're able to now just send out emails and tell people we're going to have these specials coming 12 days to Christmas.
So Chris, where do you want to go with this now?
[00:11:44] Chris: Well, first I'm actually on the fly Scott. I'm pulling up how much this list has cost us. And I'm looking to see if I can get a number for everybody because we've been building this list for almost two years now. And now, I want to pull out some numbers here. But let's just say… Because we've ran some other Facebook ads and that kind of stuff that's included in this that weren't for list building purposes. But let's just take the total amount Scott that we have spent over the last two years to build this list and assume that all of that is cost directly associated with.
In two years we've spent $14,000 in Facebook ads for everything. That includes the cost of giveaway and all of those things. A lot of that stuff isn't related but we’re going to lump that cost in. We've paid ourselves back well more than that. Well if you look just at Black Friday, Cyber Monday last year we brought in $3,000 to $5,000 on those two days from that list. We ran something like this 12-days of Christmas last year and brought in several hundred sales. It was between 300 and 400.
I don't know have that number in front of me, last year. But if we're making our $8 to $10 profit let's just assume that it was the lower end of that, 300 times $8. That's another $2,400. So we're almost halfway to having paid that list without all of the stuff that comes in between and we had a couple thousand dollars in revenue Prime Day 2017, Prime Day 2018. But we also get 20/30 sales a week from that list. We're not counting that in any of this. So we decided because the 12 days of Christmas sale worked for us so well last year that we were going to do it again this year.
Last we were able to generate between 300 and 400 sales like I said. We're a few days into this and we're already more than halfway through that mark. The first day we drove almost 748 people to the listing and we generated 64 additional sales over and above what we normally would have generated.
[00:13:53] Chris: The second say we drove 203 people to a different listing and generated 37 sales over what we normally would have generated. The third day we drove 539 clicks and 62 extra sales over what we normally would have generated. Now yes, we're giving a small discounts about 20/25% depending on the day. So we’re bringing that profit margin down from $10 to $7 or $8, potentially but we're generating almost 60 sales in three days. And that's not counting the sales that we get after midnight on that day into the next day which is still valid on the promo and we're generating between 10 and 15 in there.
So potentially we're at almost at 200 sales, three days into this, which is essentially equivalent to having another product that we don't have to do anything. If we're talking about ten by ten by one, which is ten sales a day at $10 profit times one product, that's about $3,000 a month in revenue. We're going to hit that without having to do anything else without having to source another product, without having to add complexity to the business. We're able to do that time in and time out. We did that just in Black Friday.
And drove extra sales but the other side effect of that is those sales are from people who have already seen all of our stuff. They are not like brand new people. And that's the stuff that I think people need to understand. They are like, oh, you have 29,000 people on your email list. You've only converted about 0.5% on that email. Yeah, but they've all seen that. And we still have a ton of time to go. So the thing I think that people need to keep in mind is having an asset like this allows us to be back in front of those people when we need to be in front of those people to do things.
Scott you and I have talked about like that 3% to 5% of any given market that's ready to buy at any given time. This gives us a way to be instantly in front of those people but also that next like 10% to 15% who are like, ‘Eeh, oh, I need a gift for aunt Suzzy who loves Kayak bass fishing.' I don't know why aunt Suzy would be kayak bass fishing.
[00:16:01] Scott: Hey, you never know.
[00:16:03] Chris: But you don't know. My aunt Suzy would definitely not Kayak bass fish. But it gives us that ability to be in front of those people. And it gives us the ability to essentially generate our own lightning deal at any time we want for any reason that we want and that is the power of having an asset like this. The side effect of that and this is something that I know you've been geeking out about and this is another way we've more than paid off the list is we're able to drive traffic back to our own content which we've now monetized through ads.
I know you wanted to talk about that. So I'll leave that to you because that's something that's been really, really cool. And even just in the last month we've generated more than 10% of the total cost of the two years of building that list in a single month, without doing anything.
[00:16:51] Scott: Yeah, to me it's like a whole another revenue stream coming in now because we've built the email list, we've got traffic, we can direct that traffic wherever we want. We have an asset now also that other people in our industry will want to get in front of so we can be an influencer in a sense. We've also got that leverage piece that hey, if you let me go on your page I'll let you go on mine. We're not talking also about the other additional assets that we've reached on as far as Facebook group.
Facebook page, we have YouTube channel. Like all of those things add up but the email list allowed us to grow that stuff even quicker because we're able to say, ‘Hey, new post over here. Hey, new thing over here.’ And then they are going to go there if you've done it properly. Now, this didn't happen overnight. Like I said, our first product we built our list before we had our first product. We did that because we wanted to launch the product. Now, let me just kind of time out here. Because this is kind of like advanced in a sense but really not.
Because the way I look at is this is something you can do from day one if you know how to do it.
[00:17:58] Chris: Which is what we did.
[00:18:00] Scott: Yeah, and I'm going to give you a couple of examples here in a second. What I do want to do though is I want to invite you to what we're doing tomorrow actually Tuesday, December 18th at 9 o'clock eastern time. We're doing a full workshop, not just on this. This will be part of it but the entire formula for building a future proof business in 2019. Because this is part of it. Like if you have this asset wouldn't you agree that if your competition comes in and they are getting ten sales a day, you can go in and match their ten sales a day and probably do more than that?
And then take where they are just using the same old tactics like pay-per-click and lightning deals to hopefully get, or maybe even a deal site and you've got this outside thing that they don't have. Wouldn't you say you're going to be able to do a better job. Also the people that are buying through your list might not necessarily go to Amazon and shop around for the better deal. They are going to buy through you because you've put your name on it. So it's huge asset and that's something that we're going to be talking about during our time together here at this workshop.
But also the other components. Because to us there's really two phases here, there's two parts. There's a quick way which is like a quick win or phase one which is find a good market, find some products that they will want to buy, get proof that they are selling already, ones that we know that we can make a little better that we can actually add to our brand, actually our product suite and then from there launch on Amazon. Like that's 90 days. Boom, like let's go ahead and do that. But also knowing that we've done some of these other things, and I'm going to walk through that during this workshop is where we can actually validate that we can do what we're talking about doing right now.
The things that we've done with, we were able to do that because we've done the vetting in a sense of content for the market. Are there people out there even wanting to consume this content? How could I get in front of these people? How can we get attention? I talked about in the Facebook Live that I did yesterday, I talked about attention is the new currency.
[00:20:03] Scott: And I believe that. If you have attention, meaning if you have attention in your market, traffic and you can direct people you will win. Period. Think about any celebrity that puts their stamp of approval on something, it sells like crazy. A product goes on Shark Tank, even if they don't get a deal, they sell more of their product. Why? It's exposure. It's traffic. It's attention. Attention is currency. I truly believe that. The things that we're going to be talking about here during the workshop, part of the formula is that.
Getting the right attention but you have to know the market, you have to know what good products to choose and select and add to your brand. And then how to cross promote them but also how to do stuff like this over the long haul so you can start to monetize and really build additional revenue streams. This ad revenue stream that we're building right now, which I wish we would have done sooner, that's my fault. I'm going to take responsibility on that because I didn't want to put ads on my blog.
And I'm like, ‘You know what let's just do it, see what happens.' $1,400 later I'm like kicking myself like why didn't we do this sooner? I'm looking now a whole another part of the business now is like how do we get more traffic to the blog? Because if we get more traffic to the blog, guess what? The blog makes more money. It doesn't matter about Amazon right now. So if we can get that up to $4,000, $5,000 extra monthly I’m talking $50,000, $60,000 extra which is basically profit. You're not even selling products, it's just impressions.
So who wouldn't want that? Who wouldn't want that? So for a lot of people that's all we're trying to do. It's build the business that makes $50,000, $60,000 a year. You can do that with just the ad revenue right there alone. So that's just one side of it. But anyway theamazingseller.com/workshop. I should have gave you that link earlier. That is what we're going to be doing here on this. I did an email, I wrote an email Friday and I was talking like, I just want to shout from the top of the building of all the people that I care about, all the people that are saying like Scott, how do I get started in 2019, how can I make this thing work?
[00:22:03] Scott: It's like, this is how. Like let me show you. So that's kind of what I'm doing here. I'm kind of bringing in and we’re going to sit down and we're going to go through this thing together and we're going to create this plan, this blueprint so you can just go ahead and crush 2019. That's what we're going to be doing. So theamazingseller.com/workshop is where you can hang out with us and I will take you through that entire process, answer any questions that you have. It's a blueprint.
And I talk about construction a lot in building a house or an addition or remodel, you need a plan. Same thing in business. Exact same thing. Chris, what else do you want to discuss before we wrap up here? I think we’ve drove the point home. Build that asset so you can increase your sales and traffic for free. Like do it, like start. So let's give some people some ideas on how they would do it if they were starting from scratch whether they've already started their business and they haven't done it yet or if they are starting right, straight from scratch.
[00:23:02] Chris: Well, that's something that I do want to cover because we talked about that a number that we spent on everything. They are like $14,000 but a lot of that money was on testing these different ways that we know have worked in the past to figure out what worked the best and the most consistently. Let's start with that. There's a lot of things that you can do and there's some things you can do passively if you have that other asset that worked really well. We had a handful of emails every day to our list just from having a PDF download on the blog.
So we add five to ten people a day. That doesn't sound like a lot. That's a 150 to 300 people a month that we're adding for free. That we're not doing anything to get. But the method that seems to work the best especially since we have a physical product is the giveaway model. And you and I have done an entire workshop on that. And we're not talking about giving away all of these different products for free. Like we're not trying to do like what has done in a giveaway group. What we're doing is we're giving the market something that they are already interested in.
So we go to the Kayak bass fishermen we go, ‘Hey dude, it's almost Christmas. We have this really awesome kayak, it’s the top rated kayak in the market, we have the best kayak fishing pole, the best paddle leash for your kayak and the best paddle. We’re going to bundle this together. It's going to be worth $500 and it's yours for free if you give us your name and email address.’ And that's the easiest way to do it. And for us we've been able to get emails between nine and nineteen cents. We haven't even changed our giveaway, in the last year.
We just keep doing the same one over and over and over again. And it's worked consistently for us. There's a lot of other things that this market would be interested in. But there's no reason for us to test it right now. Because this one has worked for us. The thing you have to keep in mind is that if you are not selling something for Kayak bass fishermen don't give them something for kayak bass fishermen. The people who haven't had a ton of success with this model have one of two problems.
One, either they give away an iPhone which everybody signs up for and they get tens of thousands of really cheap emails but none of them are relevant. Or two, they forget about the follow up. And we have to do the follow up regardless of what method that we do in the beginning to make sure that that list actually cares about us.
[00:25:04] Scott: And unsubscribes if they don't that's something that scares a lot of people. Another thing that you're super happy about is the PDF downloads, any of that type of content that we can give away, video series if you are comfortable getting on video, tend to work really well as well. So it's our ten day kayak bass fishing 101 course or something like that where I jump on Camera and shoot ten short or long, doesn’t matter, videos. People opt in and we send them one a day for ten days. They get those, those tend to work really well as well.
But the giveaway model for people with physical products tend to work the best because it's really easy to say, ‘Hey, I really know you like Kayak bass fishing. Do you want to buy my kayak bass fishing stuff?' They go, ‘Yeah, kind of do.' And that's all of the transition you have right there. You're going from purely informational thing to a product that can be a little more difficult. But for me hands down, that would be the first thing that I'd try for people right now if they are trying to get involved in this.
[00:26:04] Scott: And the other thing is, and I don't want to get too deep in that discussion as far as today we don’t have enough time. We'll be talking about that on the workshop. But it's really about building that email list and then delivering content to them over time consistently. I'm actually going to share on the workshop an example of how this worked really well for someone that started 12 months ago and just committed to it. And now is generating outside of just Amazon revenue from doing this.
Like it's just insane. But he committed to it. But it's so important that you understand that when you're doing this, you can deliver something and it doesn't have to be something like this major, major thing. It's like one major tip. Like if you were sitting alongside your buddy and you guys are going kayak bass fishing and you picked up a tip from another guy that you went fishing with two weeks ago, you would tell him that. It's the same thing, you're just communicating to those people and the people that raise their hand because they are interested in the kayak bass fishing boat well, or a kayak, whatever…
So anyway, you can clearly tell that we're not in this market. But you're able to communicate with people that you know are your market. Period. And then everything else starts to build some momentum. So Chris, before we wrap up here really quickly. I got ten things I want to cover here. Because there are some benefits and I've listed these out. I did this because I didn't want to forget them because they are so many. And I'm like why would I tell someone that they should probably build this asset? Well, here are ten things or ten reasons why.
Number one, you have a loyal list of buyers and you have content that you can have from the consumers or the consumers can actually take your content and use it and spread it and talk about it.
So number two, people read and consume our stuff, they can consume your stuff but blog traffic, Facebook lives, Facebook groups, YouTube.
[00:28:08] Scott: It allows you to send people to those other channels that you want to build.
Number three, well you get to sell some stuff too. They get to buy it. So that's another reason. Like yeah, eventually we're going to sell them something. And they are cool with it. I mean they are doing this 12-days to Christmas thing and people are thanking us for sending them these emails.
[00:28:29] Chris: And that's a point that I wanted to make. People always freak out, and whether, these ten things Scott apply to an email list, they apply to a messenger list, they apply to any type of list. Email is just the easiest way to get started for people. And it's the most tried and true. It's the easiest way to pull the trigger and just get it done. But everybody's like well I don't want to bother people. In the last four days, we've sent eight emails already. Every time we send an email we get responses from people going oh, this is so cool.
The emails is, ‘Hey, here’s this thing, go buy it today, it will be more expensive tomorrow.’ And they are like, ‘Thank you. I just bought eight.’ Like awesome, I'm so glad that you're excited. People aren’t bothered by it because we've given them a year’s worth of value. And then we're able to reap what we sow in exchange for that value. We're giving the content on a weekly basis. we're doing those things. So when we say, hey, we have this really cool thing going on, people go hey did you know the whole history of 12 days of Christmas?
And they send an email of the entire history of the 12 days of Christmas and explain how it works and all of these things. And then they were like, ‘Oh, and I just bought two of your thing.’ Like thank you. So you get all of these really cool responses even though we're literally saying go buy our stuff. We're not bothered by it. We’re doing it in a way that makes sense.
[00:29:51] Scott: They are thanking you because you delivered value. It's like a friend, it's like hey go buy this thing if you want. You might find it useful. It's on sale. I know you probably got two other buddies that want to buy this thing. So anyway, I'm going to go rapid fire here.
So we can launch products easier obviously. We can relaunch after being out of stock. That's something lot of people don't talk about. That's a nice little benefit. Oh, crap we ran out of inventory. I don't know if it's ever happened to you guys but it sucks. But as soon as you get back in stock it's like boom, you got a little promo, run it, get yourself back in the game so you can do that and it works really, really well.
They can buy affiliate offer stuff on your blog. So when you drive people, you can't sell directly in that email as far as sending people an affiliate offer or for Amazon associates anyway. So you don't want to do that but you can drive them to a blog post that's written about this stuff and then from there you can go ahead and hopefully get them to maybe buy something or go over to Amazon and go through your affiliate link and then you can make money that way.
[00:30:55] Chris: You showed me a number the other day Scott. Do you happen to remember how much money we've generated that way?
[00:30:58] Scott: Yeah, it's just over five grand I believe. You got to remember, Amazon associates their affiliate program is not that great. It's like 4% to 8% depending on what bracket you are in. So we might make $500 a month. So you got to have some good size orders there to get that which it can happen. Now there's other things and I'll talk about some of this stuff on the workshop again if you guys have not signed up yet you're going to theamazingseller.com/workshop. But you can find other digital products that are in your market that you can sell that you can be able to get 30% to 50% commission on, which is pretty awesome as well.
A lot of people don't think about that but there's other ways that you can monetize and give them what they need and what they want. So anyway, that's the affiliate offer stuff.
The other one is, and this is the one I'm most excited about is like this Ad Thrive thing. Depending on how much traffic you have, you can use other ones. There’s Adsense. That's for like if you're just starting you, you want to use Adsense because you can basically put that on your website from day one almost. Then you have Media Vine and then then you have Ad Thrive and there's a few other ones out there. We've been using Ad Thrive right now because we have enough traffic, enough impressions.
That there already, the last I looked already we’re on track this month to do like $1,600 to $1,800 depending. That might even go up with traffic.
[00:32:17] Chris: So somewhere between $2,800 and $3,000 in two months in basically pure profit.
[00:32:21] Scott: Yeah, yeah. pretty much. Okay, so that's that. We get to make money through some ad networks now. The other thing is we have the leverage because we have traffic. We have attention. Like I told you guys, attention is currency in a sense because now we're going to have people knocking on our door going like, ‘Hey, I see you got this blog, it's pretty popular I see a Facebook page, or group. You've got a lot of… Can I pay you to have you talk about my stuff, it's kind of like we would be willing to do to an influencer in our market.
Same idea. So we have that leverage whether that's a blog or a Facebook group whatever. Or even just the email list.
And then the last thing is this asset and we've noticed this recently because we’re looking at possibly exiting this brand. It gives us a higher multiple. And when I talk to Joe Valley over at Quiet Lite, they are a brokerage company that that's what they do. They look at businesses. It's really a good idea to get these guys too early so that way there they can get everything kind of figured out and dialed in and kind of look at the target you’re trying to do for an exit. But he was like, ‘Scott, everything you've done here in this brand is perfect.’
Like yes we've got to build something's a little bit stronger maybe. Like maybe we got to built out those assets a little bit, get a little bit more history, it's all about history when you're doing an exit too. Like they want at least a 24-month history. And he's like, ‘But you’ve got the email list, you got the blog traffic. You got the Facebook page, you got the group. You’ve got the YouTube channel. You've got all of those things. Those make a difference. The risk level goes down for an investor, and the value for what they can do because they can expand this now goes up, so the multiple goes up.
So it's easier to sell and you get more money for it.’ So that's another thing a lot of people don’t talk about as you're building this thing. Yeah, let's just say that we built the email list that cost us 15 grand, would that 15 grand bring us another 100 grand because we got a higher multiple? Probably. So even if that's all it did, which that list has been paid for time and time again. And let me go back to that because sometimes people will be like, well that's a lot of money. It is, that is over time… I think our first giveaway that we did we built about 5,000 or 6,000, I think we spend just under $1,000.
[00:34:38] Chris: And on launch day we were break even. And that's the thing. It's not like we put $14,000 in day one and we're just getting there. Every time kind of along the way that we've done of these giveaways we have a reason on the back end to justify the ad spend on the front end. So okay, we're going to do a product launch. We broke even on that product launch. The second one we actually made money because had the first list and the second list that we combined in one list and now we have just right around 30,000 people on email which means every time we send an email, there's a potential of being in front of 30,000 people.
Now, obviously you're not going to get in front of them every time. That's something that a lot of people miss out on. And I had a conversation with Joe in North Carolina. When was that? A year and a half years ago? And something that he and I were talking about, was exactly this and it's one of the reasons that you and I really started to dive back into the stuff that we know has worked forever because I said, ‘Joe, what do you see most of the e-commerce businesses missing?' And he said, ‘Diversity in channel and diversity in assets.'
We don't want to be ever singularly dependent on any one thing in our business, any one traffic channel, any one sales platform or sales channel can mean that over the long term we're not stable and stability especially when we're trying to go sell but even if we're not, even if we wanted to sell this asset forever I want to know that if I made $100,000 in profit last year that I'm going to make at least $100,000 in profit this year.
And if I can give myself that sense of stability then it makes doing things to grow, expand or it makes selling a business even easier and that was one of the things that I know Joe said was missing from a lot of these e-commerce businesses that he was looking at even two or three years ago was the ability to drive their own traffic. Was the ability to not be channel dependent, not be platform dependent. So making sure that you're doing at least some of these things over the long term. Again, this isn’t something you need to do from the beginning.
But making sure that you're doing these things in the long term, are going to mean that you are more stable and that's why that multiple goes up.
[00:36:38] Chris: The better the business the higher the price that it can bring. And like the ideal thing, like the ideal time to sell a business that you always hear thrown out is the last moment where you'd ever want to sell it. Where the business basically runs itself and is generating more and more money every month without you having to do. That's the ideal time to sell a business because then you can hand it to anyone. So the closer we can get to that ideal, the better off that we're going to be whether we're going to keep that business or whether we’re going to sell it.
[00:37:06] Scott: Now, again when I was kind of thinking about this… Because I want going to do another workshop. Chris you and I talked about it. We're like we're not going to do another one till 2019. I'm like you know what, I have to do this workshop because there's so much to go over but it doesn't have to be that complicated and there's different steps that could be taken to set yourself up and give your plan for the next 12 months. And that's what we’re going to be doing here. So we're going to break it up all down.
It can seem a little overwhelming. If I showed you the screenshot of like the map and the plan or the blueprint it could be confusing, just as if you were to look at a house you're ready to build and you look at all the things that have to happen to make that house be finished. So what we're going to do is break it down because it is literally following a formula and then just plugging it in. I'm going to give you the step in the order to follow during this workshop. So another time here for me go give that call to action.
Head over to theamazingseller.com/workshop and you can register for it over there. Again, that's theamazingseller.com/workshop. This will be myself and Chris. We'll answer any questions that you have and hopefully give you guys that road map or that blueprint so this way here you can start where you are right now. If you are at the very beginning stages, you can start this. If you are already up and running you are already doing six or seven figures on Amazon, you can do this. We know this first hand because we have people in our Inner Circle who are seven figure store owners and they are just starting to install some of these things right now in their business.
So it totally, totally can help anyone at any point in their business and you should be doing this. It's not too late to do it and if you're just starting you definitely need to do these ten different things in your business to make sure that you are building a future proof e-commerce business for 2019 and beyond.
All right, so there you have it. Hopefully your wheels are spinning and you are excited to be able to take this information and install it in your business in a sense to where you can model anyone of these points that we were making as far as how to build a future proof business. How to increase but also how to increase traffic. To me, traffic, attention, if you will is really the new currency. If you can get that attention and we've done that with the email list and we've also done that with some of our social media strategies and groups and stuff, we’re able to now get the attention.
[00:39:33] Scott: When you get the attention that will turn into more sales naturally without even really trying that hard. And so again, that right there is something that you need to pay attention to and you need to start focusing on and hopefully you took that away from listening to that session with Chris and I going through this exact process and what's worked for us, what we're continuing to double down on and what we are in the future. And again, you probably heard us talk a little bit about this workshop that we were doing.
And we did it, and it was awesome. And depending on when you're listening to this, there maybe a new one that we're doing that we'll go over these steps once again. If you're interested in registering for an upcoming workshop head over to theamazingseller.com/workshop. That's where you'll find all of the latest details in the upcoming workshop that will be breaking down this ten step formula really to build a future proof business. All right guys, so the show notes once again can be found at theamazingseller.com/617.
And as always remember, I'm here for you, 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.
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