TAS 242 – (Hot Seat) How to Optimize Current Product to Increase Conversions and Sales

One of the things Scott and his friend Chris Schaeffer love to do to help private label sellers boost their sales is to do these “hot seat” episodes. It’s a real life Amazon product that is already selling that is submitted for review and suggestions to increase sales. Scott and Chris are looking at a product today that is in a tight niche and is very low priced – both of which are problems from the get go. But there are some things that can be done to improve the sales of this product regardless. You can hear Scott and Chris’ suggestions on this episode.

A bad thing will happen when you’re product price is low to begin with.

If you get into a market where the sales price for the product is $7 or so, you’re going to run into a problem. Even if your product only costs you $1, you’re going to pay a lot in Amazon fees and not have much product margin to play with. That’s why Scott recommends that you look for products that will sell for $15 or more most of the time. You can hear more insights into the way the product cost impacts your profits and success, on this episode.

The first thing your potential customers see is the photo. Make sure it’s a good one.

When you’re putting together your Amazon listing one of the most important things that can’t be underestimated is the photo you use to highlight your product. Amazon requires that your product photo is the product alone on a white background – and Scott and Chris both feel that it’s vital that the photo be high quality and positioned in a way that shows it as large a possible. Today’s hot seat product needs a better photo and Scott and Chris will tell you exactly what they’d do to make the listing photo better.

Providing a bonus item for freer is a great idea – but this seller didn’t use it well.

The product that’s on the “hot seat” on this episode of The Amazing Seller also includes a free ebook to help the user learn how to use the product. It’s a great idea and is a powerful way to increase the perceived value of the product. However, this seller hasn’t taken advantage of the bonus. How did they miss the opportunity? The bonus item is not mentioned in the title of the product OR shown in the product image. Both of those are great opportunities to stand out from the competition. Find out how you can use this example to improve your product listing on this episode.

Bundling may be the key to increasing your private label product sales.

Often, once a private label product is introduced into the market others begin to jump on board and offer the same product. Before long that niche is flooded and the price begins to race to the bottom. It’s not a good situation for anyone but there are ways to become the dominant seller in the market, and the main way is by bundling your product with accessories or related products that purchasers might need in order to use your product. You can hear some great ideas for how you can think in terms of bundling for your product on this episode.

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • [0:03] Scott’s introduction to this hotseat episode with Chris Schaeffer!
  • [3:00] Introduction to this hotseat scenario.
  • [6:19] The market today’s product is in: good or bad?
  • [9:21] The market looks saturated and the price point is low.
  • [14:22] An interesting market that should allow for increased sales.
  • [15:55] Why the product photo is important: and this one needs to be improved.
  • [20:25] Looking at the listing for issues that could use improvement.
  • [29:02] Looking at related products to come up with bundle ideas.
  • [39:12] The more you look into the bundles, the more opportunities you see.

click

Resources Banner2

TRANSCRIPT TAS 242

TAS 242 – (Hot Seat) How to Optimize Current Product to Increase Conversions and Sales

[INTRODUCTION]

[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 242 and today I’m excited as usual because we’re going to do another hot seat session and I’ve invited on my good friend, once again, Chris Shaffer who’s going to help me kind of go through this. Him and I we go back and forth…

Read full transcript...

LINKS MENTIONED IN THIS EPISODE

 

NEW To The Blog and Podcast?

I created a Page Just for You called…START HERE!

If you enjoyed this episode share the love with your friends…Click To Tweet the show.

Subscribe To Be The First To Receive Updates and NEW Podcast Episodes

8 Comments

Add a Comment

Your email address will not be published. Required fields are marked *