If your brand won’t support a physical product then you are in big trouble, right? Not so fast! Years ago, the rule of thumb in the ecommerce world was to find a niche market and create products that market would buy – that’s still a good recipe, just not the only one for success.
It’s time for another informative and engaging session of Ask Scott here on The Amazing Seller! On this episode, you’ll hear from Scott as he explains how sellers like you can create a thriving business through digital products, affiliate programs, and more. You’ll want to pay close attention to this episode – have pen and paper handy!
Make sure to diversity!
If you’ve been around the TAS community for very long, you know that Scott is passionate about helping sellers like you expand your brand. One of the best ways to expand your brand is to set it up for success from the start. As you build your brand – consider how you can connect with others in the market and even leverage those relationships to expand your brand. Not sure where to start? Don’t worry – Scott has you covered! Tune into this episode of The Amazing Seller as Scott give key advice that can help you take your ecommerce brand to the next level of growth.
Three helpful tips from Scott
Can you really build a successful ecommerce brand without Private Label Products? Long-time TAS followers know that Scott has been a huge proponent of private label products in the past and that’s not changing. Scott is simply advising sellers to think broader about how they can use their brand to make a profit. On this episode, Scott covered three helpful questions to ask yourself as you validate your target market.
- Is the market buying products on Amazon or online?
- Are there digital products being sold?
- Are there ads being served to your market?
To hear how sellers like you can really drill down and focus on your target market without relying exclusively on a private label product – make sure to listen to 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!
- [2:45] Answering a question from a TAS follower like you.
- [4:15] Affiliate programs and adding more revenue to your business.
- [7:30] Stop focusing on physical products exclusively – diversify!
- [10:20] Closing thoughts from Scott.
Speaker 1: 00:00 Can I create a brand even if I don't have my own physical product right now or maybe I don't have one that I think I can ever make in the future. Well that's a question that I decided to answer on this Ascot session because, well you don't necessarily have to have your own product and so many people get stuck right here. So what I decided to do is answer this question and give you some things to think about if you're currently building your brand and a lot of other ways that you can monetize through different resources. All right, so if that sounds interesting, stick around cause that's what we're going to cover in this episode. Well Hey, what's up everyone? Welcome back to another episode of the amazing seller podcast. This is episode number eight 20 and session number two 55 Avast. Scott, this is where I answer your questions here on the podcast and today, like I said in the beginning there we're going to be addressing this question that came in from Scott, Lindsey and I.
Speaker 1: 01:01 Well, his question was just that, can I create a brand without my own private label product? That was the exact question and I'm going to read exactly what he had posted here. So this one here, you can get the full story and actually see where he's coming from. And again, I just want to say if you're thinking to yourself, well, I don't know if I can start building my brand right now because I don't have my product picked yet. Or maybe you have your product picked and you're waiting until you launch your product before you start building your brand. I've got some thoughts here and I'm going to dig in on this episode, but before I do, let me just say this, Ray here, if you are starting or if you're taking your business to the next level, you always always should be thinking about diversification and not just one product or just physical products.
Speaker 1: 01:49 You should be thinking about other ways that the brand can be making money. Okay, and that's what I'm going to be talking about here. Now, if you have not went through our brand growth validation checklist, I would encourage you to head over to brand creators.com download that totally free and this way here you'll be able to see exactly what your market wants, what it needs, and other ways that you can monetize your market. All right, so make sure that you do that. All right, so again, this episode is eight 20 so if you want the show notes, the transcripts, you can head over to episode eight 20 and grab that. The other thing that I would like to say here is if you have a question that you want me to answer on an upcoming ass got session, all you have to do is head over to the amazing seller.com forward slash ask and you can do it right there.
Speaker 1: 02:37 If you're watching this on YouTube, just drop it in the comments down below. All right, let's dig in. So I'm going to go ahead and read Scott's question here. And by the way, Scott, what a great name. I mean, I'm not just saying that, I mean great name, right, Scott. All right, kidding aside here. Let's get into it. Hi Scott. I've been building online businesses for over 20 years with good success. However, right now I'm looking to get into a new niche and for some reason I'm having a hard time here. I'm going through your playbook, which is great, and I have a niche that I want to enter. I have a close friend who is an expert in this niche and we would work together. That's pretty awesome by the way, and I would say if you have the opportunity to do that, definitely do it.
Speaker 1: 03:20 It's going to allow you to do what you do best and allow him or her to do what they do best. All right. There are some high paying affiliate programs in this niche in great traffic potential. All right, two thumbs up there. There are some products people buy in this niche, but I do not see a way to create private label products. These products are just not something that could be private labeled. So my question is, would you enter a niche if there is no ways to create private label products longterm? Well, I think you answered your own question in there, Scott. I'm just going to kind of highlight that there because if you have, I'm going to go back to what you wrote here. There are some high paying affiliate programs. Okay, that's good. And there is some great traffic potential. That's good. That's all I need.
Speaker 1: 04:08 Okay. Because if you have affiliate programs that are willing to pay you, then you can build a whole business out around that. Now, I wouldn't suggest going in with just one affiliate. I would want to have multiple affiliate products that you could promote, but you might be trying to figure it all out before you actually get there. So if you said to me, I'm not finding affiliate products, I'm not finding products that I might need to think again about it. Right. But right now that's not what you're saying. You're saying there's a ton of traffic potential and there's a lot of affiliate potential and we're not even talking Amazon affiliates. We're talking just affiliate programs in general. And I did an episode not that long ago about the Amazon associates program and how they know they just cut their commissions by a lot by 50% in some categories.
Speaker 1: 04:57 Just crazy. But still, if you sprinkle in a few of those offers and you get 3% on $1,000 product or a $3,000 product, that can still add up. Right? And that's how you diversify. But what you're talking about, and anyone else listening, if you know in your industry that there's other other retailers or other businesses, even private businesses that are having affiliate offers, then I would go for it. Now, one place you can look for these is over on clickbank.com they've been around for years, probably over 20 years now. And they are a marketplace to help you find good affiliate offers. Okay. Now it sounds like you've already identified some, so I would start going that route. But I think like you already said, there's a ton of traffic potential. So what is that traffic potential as far as how do you get in front of those people?
Speaker 1: 05:49 What are the pieces of content or what is the a the way to get some of that traffic yourself and some of it may be doing some things around those affiliate products. Now if you're listening to this, and this isn't just for Scott, this is for anyone. If you are listening to this and you're having a hard time with this type of situation, or if you just want to add more revenue to your business, start looking at other products that are being sold in your marketplace from your competitors and then from there that may lead you to an affiliate program. And the way that you can find an affiliate program is type in the company, the company's name, backslash affiliate or affiliates or partners. And then from there you will find if they are having an affiliate program or you can just search, you know, maybe it's for Dick's sporting goods affiliate program and just type it in.
Speaker 1: 06:42 Do a Google search. All right. But when I like to do is if I find a website that is in my market that is, you know, getting traffic, they're probably monetizing, I'm going to look at various ways that I can monetize. Okay. One way is are they running ad networks on their platform? I do this inside of the playbook by the way. So I'll give a little shameless plug here. If you don't have a copy of the playbook, you might want to grab it. You can head on over to brand creators, book.com again, that's brand creators, book.com and inside there we go over the different ways to find resources and avenues that we can really diversify our revenue. So definitely check that out. All right, so again, let me just kind of cover this and I've got some bullet points I want you to go through here and there's three different questions I want you to ask yourself.
Speaker 1: 07:33 All right, so the little exercise here for you, all right. First off, I want you to stop focusing on just physical products, okay? Because physical products isn't the only way that a business can make money. And so when people get stuck here, it's because they're going after products, not after the market go after the market. You already did this Scott. And then from there, see if there's affiliate offers. You already did that. And then I would also look and see is there, are there other websites that are monetizing through ad networks? I would look at that as well. I would look at digital products. I would see if I could do those. All of those things would give me a sense of, okay, I can do all this without even having a physical product. There's plenty of businesses out there only selling digital products or affiliate offers or ad network, uh, you know, revenue coming in from that, that source.
Speaker 1: 08:21 So make sure that you don't get yourself only focused on a physical product. Okay, so that's first offer. I always want to make sure that we do that. We want to diversify. Okay. The first suffocation is everything. Okay? So number one question is the market buying products on Amazon or online? So that's like question number one, right? And so you might go to Amazon and go, yes, they are. Okay, well then you can become an affiliate for that even though it's not that much right now, right? Because they cut the cost. Who cares? But then what you can do is also look at that company that's selling that product and maybe they have a private affiliate program that you can join. Okay? So that's the first thing. Question number two to ask yourself, are there digital products being sold? Use ClickBank or Kindle books? Kindle books are out there selling.
Speaker 1: 09:09 That means that digital products are selling, okay. Or at least there's a good chance a Kindle book is a digital product. Uh, but we can look at other digital products like courses or we can look at, uh, you know, certain guides or, uh, even checklists people are charging for. If you go to Etsy, you'll find digital products there as well. All right? So there's templates and things that you can buy. All right? So make sure that you do that. And then question number three is, are there ads being served to your market? And this is going through that website validation stage. And again, we cover that inside of brand creators, book.com that's the playbook. So if you haven't grabbed a copy of that, I would definitely suggest you doing that. Okay? So make sure that you ask yourself those three important questions and then it will allow you to see the opportunities outside of just a physical product or the physical product that you don't have to source.
Speaker 1: 10:01 A lot of times you kind of say to yourself, well, I can't source that product myself because it takes so much work or it takes so much innovating or whatever, but you can be an affiliate for that product. So you know, don't underestimate that. All right, so here's my last point here. I want to make focus on the market traffic potential first, then validate money, okay? And then those money opportunities are going to follow those three questions, or you're going to ask yourself those three questions and that will allow you to see if you can in fact build a business in this market. All right? So all we're doing is validating that. So to answer your question really simply is yes, you can build a brand and not have your own physical product. Lots of businesses out there have already done it, so the answer is absolutely 100% yes.
Speaker 1: 10:56 All right, so guys, if you have a question that you want me to answer on an upcoming Ascot session, all you have to do is head over to the amazing seller.com forward slash ask. You can do it there or you can just drop a comment in the YouTube video here and from there I'll go ahead and look at it and see if it's something I can answer. And if I can, well, it might actually appear here on one of these upcoming episodes. All right guys, so that's it. That's going to wrap it up. As always, 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. Now go get them.