TAS 265 : Ask Scott Session #80 – Your FBA Questions

tas-265-private-label-sales-on-amazon

It’s time for Scott Voelker to answer your questions about Amazon Private Label sales because this is the Friday episode of the Amazing Seller Podcast. We call it the “Ask Scott” episode because that’s all the episode is – your questions about Amazon product sales and FBA related issues that Scott fields and answers. His hope is that you’ll be helped by the questions and answers you hear and that you’ll also step forward to ask your questions so that others can be helped by hearing an answer to YOUR sticking points. Listen to this episode to find out how you can ask your own questions.

A new idea for using another product for building a sales funnel for your product.

A listener called into the show to share a strategy he’s been using to promote his products and build his email list -and it’s not the normal thing that you hear of people doing. He’s creating a giveaway contest where people who enter have to submit their email address to be entered – but the giveaway item he’s using is not his product. It's a very desirable one in the same niche as his product. That enables him to follow up via an email list to all the contest entrants with pitches and helpful information that relate directly to his product. You’ll not only hear how the strategy is working for him but you’ll also get to hear what Scott thinks of the idea, on this episode of The Amazing Seller.

What’s the best way to assess if a product idea is a good one?

When it comes to product research there are so many things that you need to take into consideration that it’s impossible to cover them all in a short blurb like this. But what we can say is this: There’s more to it than simply looking at sales numbers. You’ve got to be able to look behind the numbers to understand the sales cycles of the product niche you have in mind so that you can make a better-informed decision. On this episode, Scott points you to a powerfully helpful resource that can help you do product research and make better decisions about the products you offer on Amazon private label.

My sales conversions are low. What can I do to improve sales?

The sales conversion numbers you see relating to your Amazon products have so many moving pieces that it’s almost impossible to talk about all of them on one podcast episode. But the main thing you need to keep in mind is that sales are ultimately an issue of traffic to your product listing. If you can get the eyes of people who are interested in your product to actually see it, then you have a much better chance of selling them the product. But if they never see your product then naturally they won’t become a customer. On this episode, Scott talks about the main strategies you can pursue to get more eyes on your products.

Does the amount of inventory I have available on Amazon impact my search rank?

Today Scott fields a very interesting question that he’s never been asked before. Here it is: “If I have a low amount of product on the shelves of Amazon’s warehouses but my competition has a high amount of product available in Amazon’s inventory, does my low inventory number negatively impact my search ranking?” Scott admits this is a question he’s never really given much thought to but after being asked about it, he decided to ponder it a bit. You can hear his answer on this episode and find out what he recommends to keep your product inventory higher regardless.

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • [0:03] Scott’s introduction to the podcast!
  • [0:40] Scott’s disclaimer: it has to do with juicing!
  • [2:46] QUESTION ONE: A tip for building product sales funnels.
  • [9:33] QUESTION TWO: How do you verify that a product is a good product?
  • [13:07] QUESTION THREE: I’m having very low conversions on my products. Can you help me assess the problems?
  • [21:24] QUESTION FOUR: Does the number of units in inventory influence how well my products rank?

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TRANSCRIPT TAS 265

TAS 265 : Ask Scott Session #80 – Your FBA Questions

[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 265 and session number 80 of Ask Scott. This is where I answer your questions here on the podcast and yes it is session 80 which I can't believe it's been that many and you guys know,

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I say this every single week when I do these. I truly, truly enjoy doing these and I love listening to you guys in your own voice ask your questions and leave the remarks as far as like what the podcast has done for you but also any sticking points that you're at right  now and I do my best to answer them. You guys know I love doing that.

Now, let me just put a little disclaimer here today. A little disclaimer. A little disclaimer. I'm starting this juice thing where we're doing these natural, I'm talking natural like you put the vegetables in like this juicer and it squirts out the juice, kind of thing, not like apple juice that you find in a store. I'm doing like a three day cleanse thing, my wife and I. You guys have all probably heard me say how I want to take better care of myself and this is just one of these things. It's like a reboot kind of thing. The reason why I'm telling you this not to really tell you I'm juicing but just to say, “Hey, listen. If I'm not 100% today it might be the reason.” I may be 150%, it seems I got a little more energy.

I don't know if that's possible but I just want to let you guys know I might be a little off today. But I think I'm going to have a little clarity because this whole thing too is also supposed to help you with clarity in your mind and all that stuff. As entrepreneurs you guys know it's hard, it's hard to be able to get true clarity. I don't know about you guys but it's hard to shut off the motor at night time when I want to just unplug. I don't know, maybe you guys don’t feel that but I feel that every single day. This is just something I'm playing around, I'm experimenting with but it's also to help me just take better care of myself and reset the body, get out all the toxins and all that stuff but not telling you for that reason.

[00:02:00] Scott: Just telling you if I seem a little more hyper today, that might be the reason. I don't know. I still have to get through this full day here on day one but it's pretty cool. It’s not bad actually. That stuff doesn't taste bad. I'll talk about that more maybe another time. All right guys. Before we jump into today's first question, let me also remind you guys if you want to ask your own questions for me to answer on an upcoming Ask Scott Session head over to theamazingseller.com/ask and if you want to download the show notes, the transcripts, all that good stuff head over to theamazingseller.com/265 and that's like a nice easy link for you guys to get all of the goodies and all of the transcripts from this episode. Guys, I'm about ready to go here. I am really fired up to listen to the first question of today so what do you say? Let's go do that. Let's listen to this first question and I'll give you my answer.

[Q&A SESSION]

[00:02:52] Eric: Scott, Scott, Scott, man it's good to hear from you. Hope you're doing well. Glad the move went awesome. You just keep bringing the thunder. I can’t believe how well you bring it and you just don't quit, just appreciate you so much for that. This is Eric by the way and I don't have a question. I do have a little tip for you and your viewers. I just got done talking about the three types of sales funnels and I've been obsessing over funnels for the last year and definitely working it into the Amazon. A little one, two punch I found works really good, that's works really swell is, whatever market you're in, you got to see what everybody's buying.

You got to see what the top niche/category what everyone is buying and in your particular market so you already have a product in that market and you buy it. Just buy one and that is what you use for your giveaway. You run those Facebook ads to it and the in the follow up sequence that's when you offer your product but you can or can't, don't have to do it on Amazon. You can avoid the FBA fees there if you just do it and ship it on your own and you offer it to that customer that already said yes.

Not only do you get the email address for them but you're able to contact them with all your value, all your other stuff that you have as well as then you obviously get a sale out of it as well. Just combining two of those funnels there in two one. Hope that helps your viewers. You've been so awesome so far so definitely anymore ideas I'll definitely share with you. You're a God send my friend. You keep on keeping on. You're the spirit point. You're a leader. Keep going brother.

[00:04:40] Scott: Wow, lot of energy right there Eric and that is awesome. You guys all know I'm a little high strung myself so man, oh man. To have someone else have that energy gets me even more fired up if that's even possible. We've got juice going and we've got another person that's as energized and that's fired up as I am. I know a lot of you are too so let's just get this energy going and keep it on through the day. If you're having a tough day right now, energy. Get that energy up. This isn't really a question. I wanted to play it because he brings up some really, really cool stuff and I want to touch on that. It's funny because I'm actually going through almost identical to what Eric just outlined for us really quickly.

Now, I did do another episode recently, episode 230 where I talk about the three different sales funnels there you can build the sales channels, whatever you guys want to call them, the sales process, the lead, to take your potential customers through a sales process it’s really what it is but what Eric is describing is brilliant. I get a lot of people that say, “Well I can't really set up one of these things yet because don't have the main product or my product isn't that big of a thing to do as I giveaway.” What he's really saying is get something of great value, let's say something of $100 value, you run a Facebook…

If you go to Facebook and you find Facebook fan pages and targeted audiences and then you target those people for these particular products or related to this product and then you can see now by the interest by people entering their name and email address to enter into the contest. Then on the back end of that and that's what we call like in a sale funnel, on the back end of that Eric is talking about then having them having them go through the email sequence but then also introduce your product which is related to the main product.

[00:06:40] Scott: If you have a product right now that might be an accessory to something, you may want to get that something, the bigger thing, the bigger product and buy one of them, buy it from your competitor, buy it from someone else out there that has a similar product to that or make a bundle of a whole bunch of these products that are put together to get the value up to $100 because that lead is so valuable because now they could possibly buy on the back end of that and you have a targeted email list for when you want to roll out additional products or maybe even that main product again. That's almost identically it's how he described it, it’s exactly what we're currently doing right now and we're testing that as we speak which I'm really excited about because I think it's so brilliant but I think it's so easy to do once you get all of the moving pieces together. I say moving pieces.

We're talking about you have to go out there and you have to come up with the offer. You have to come up with the actual product that you're going to be giving away. That's step one. Step two to that would be going out there and then finding a landing page that you can put this contest on that would be something like Leadpages, that's what I've use and I still use. There's other ones out there. Then you set that up. You have to connect it to an email program, like Mail Chimp or Aweber or any of those auto responder type email services. You connect into there and then you're going to put a little series of emails together. You got to write maybe two, three, four different emails that's going to talk about your product on the back end of that.

Then what you're going to do at this point now is you're just going to drive traffic from Facebook to that landing page that has the offer on it or the giveaway and then you're going to collect the emails and then once they enter their email address, it's going to then take them through the email follow up which is then going to introduce your product. That's as simple as it can be. Now, it can get more complex but right now we're talking like simplicity and building a list of potential customers for you. I love this stuff. You guys you're going to hear me talk more about it. We're actually doing this on day two of our live event here coming up in November.

1[00:06:40] Scott: November 5th and 6th is our TAS Breakthrough Live Event which I didn't mention in the beginning of this which I probably should just to remind you guys. We still have a handful of tickets for both days left. If you guys want more information about that you can head over to theamazingseller.com/live and you can hear or see all of the details there. You can hear it too because there's a video there of the last TAS Breakthrough Live which was pretty amazing by the way.

Eric I want to thank you. Keep me posted on how that goes for you. I got another guy that I'm talking with right now and he's doing this through Instagram and he's crushing it. I'm definitely going to be working in this as well. If anyone else out there listening has any results from this that they want to share with me, send me an email Scott@theamazingseller.com and would love to hear how it's working for you. Let's go ahead and listen to the next question and I will give you my answer.

[00:09:39] Jay: Hi Scott. This is Jay from San Francisco. I was wondering if you could go through the process of once you find a product that you might want to sell, how you verify that it's actually going to be a good product. For example, how do you verify the demand, whether there's too much competition, all that kind of stuff. I was wondering if you could please go through that process of validation. Thank you very much for your podcast. I really love it and it's been extremely encouraging and supportive in my new business. Thanks very much. Bye, bye.

[00:10:22] Scott: Hey Jay from San Francisco. What's up man! Thank you so much for the question. It's a good question and actually I wanted to address this again and I say again because I have answered this in the past in various forums. There are different ways that you can do this but it's really, really important to understand depth, demand and all of that stuff. Now, I'm going to point you guys anyone that's interested in seeing this and learning a little bit more in depth of how this is. I did a podcast, episode back on episode 189 where I actually have a video on that post as well so you definitely want to go to that post. I have a video there of me walking through like seeing a product that looks good and then from there you can look and make sure it's got the depth and then from there you can look and see that it's got the demand.

Then how we can make sure that we're not being fooled by the numbers because as we all know people are doing product launches within their products and if those numbers are inflated we'll we're not going to know about it unless we can do a little bit of research, I say research like history like going in time a little bit and seeing how long they've been running, see what the BSR has been over the course of time, what their price has been. All of those things. Then how to also look at other products that are similar, so we are not just looking at the one product. A lot of people will say, “Oh cool, the first product has 2,000 sales a month and the next one has 300 and the next one has 200 and the next one has 100 and the next one has 50.”

That to me what I call top heavy. We've got one listing that's really, really doing good, they're talking all the sales pretty much but there's three or four other ones that are grabbing a little bit but is there enough? Are you going to be able to take any from the first one and why is the first one getting so much? We have to figure that out. Again, I go through that on episode 189 of the podcast. The blog post is where you're probably want to go through because I do have a video there as well, it's embedded right there.

[00:12:24] Scott: You can watch it right on that blog post so theamazinseller.com/189 and it's all about looking at the numbers and validating them and looking at the demand and depth and all that good stuff. I would point anyone who is interested in that topic or wanting to see how it's done, go check that out. That's my answer. I know it's not really like fresh answer but it is an answer that says, “Go check that one out because I talk in great detail about it on that post.” Let me just say, it is extremely important to look at those numbers and understand those numbers and as you do more of this product research, you'll get better at it, trust me. Let's go ahead and listen to the next question and I'll give you my answer.

[00:13:12] Frederik: Hi Scott. My name is Fredrick and I'm from Denmark. First of all I'd just like to say thank you for all the work you put into this and thanks for giving a chance to actually finally having a chance of becoming an independent entrepreneur. It has been a goal of mine for years. Thank you a lot and Chris as well and everyone in there on the Facebook page. My question is about my very low conversions. If I had to say it myself then I would say I have a good listing, the pictures definitely stand out. They are high definition and my brand is a Nordic thing. I'm from Denmark. I also show them with my pictures and my description is clear to read with a lot of keywords in it but without overdoing and also my bullet points, even though maybe my bullet points I could single that down and I have two PPCs running. One with suggested keywords and one with the automatic.

My budget is $1.5 on each though even higher a bit for some of the feel good converted keywords. My budget is $35. My A-cost are 87% for suggested and 119% for automatic. When I'm looking at my session pages my conversion is around 7% and that sells 7% on a good day. I only feel a few each week. I started a month ago. It's definitely a competitive market for sure but honestly at this point I certainly don't know what to do. I would appreciate any kind of help with the low conversions. That's pretty much it and well thank you very much for listening to this and cheers.

[00:15:16] Scott: Hey Frederik from Denmark. What's up man! Thank you so much for the question all the way from Denmark. It always lights me up when I am reaching people from all over the world, all over the globe. I just love it. I want to thank you for submitting the question but also for being a listener. Everyone out there that's a listener, again I just want to take a second to say, “Thank you.” You guys make the show what it is and I want to thank you for that. To answer your questions, here and that is it's not a question, it's really questions because there's a lot of different moving pieces here. If you guys have heard me do the hot seat sessions with my good buddy Chris Shaffer we really go into, a lot of times why the sales aren't happening.

We always talk about the optimization of a listing is really where it comes from as far as where we start from. If you're getting traffic, that's the first thing. If you're getting traffic to the listing, why isn't it converting? If you're not getting ranked, that's step one. My first question to you which we really didn't get to talk about that because we aren't sitting in the same room but if I was to ask you the next question would be like where are you ranking on page one for your main keyword or your main keywords? That's number one. You did also say that it’s a competitive market which makes me think that you might not be on page one and if you are, you might be at the bottom of page one which, yes, sometimes in certain markets that's still okay.

But, if you're struggling to rank because it's competitive market it's going to not to be that easy to rank because everyone else is doing the same thing is trying to get their products to rank. You can be more creative with pay-per-click and all that stuff but the end game for us is to really get ranked on page one organically. You said your pictures are great, you don't think that that's a problem which we still don't know. You don't think they're a problem but who knows until you can get traffic and you can split test doing that. You really wouldn't know that but you say the pictures are good and the title is are optimized and the bullets are and all that stuff.

[00:17:18] Scott: We really don't know until we have that traffic. My question would be like how many visitors are we getting to the listing every single day? Now, again I'm not going to be able to give you like direct answers here but it can give you stuff to think about or anyone else for that matter that is in this situation. These are the things that you have to reverse yourself back to. You have to ask yourself, “Am I getting the traffic?” If you’re only get like fifty people to your listing a day and you're judging your conversion off of that, it's not really enough to really know until you can get more than that like 100/150/200 a day consistently. Then you can see but if our first problem is really traffic, well now we got to figure out how to get traffic.

How do we do that? Well, number one we want to get ranked. In order to get ranked we have to get sales. In the beginning we have to do a product launch for reviews but it also is going to help our BSR. That's number one. Number two would be to really dial in your pay-per-click and you might need to spend more than you'll be willing to later in order to get seen in front of those eyeballs. That's really what it's all about. You got to get those eyeballs on the listing in order to determine if your listing is converting well or not and from the sounds of it sounds like it's a traffic issue, to me. It sounds like you're not getting enough eyeballs there. That would be like your number one thing.

Now, we just talked a minute ago about maybe doing some external stuff which you guys know that I'm not really big into doing external stuff until you've got the product up and running which you do but also until you got some pretty good sales coming through. I say pretty good. At least 5 to 10 a day consistently then we can start thinking about external stuff. I would say the other option here to start working on is maybe some external like doing a giveaway like we just talked about building an email list and then using that email list to drive sales over to Amazon.

[00:19:20] Scott: What we want to do is we're going to keep the sales going. If we can get some traffic off of Amazon, that's already pre-targeted and that’s almost like pre-qualified to where they're going to buy with the coupon code, then we send them over to Amazon. I wouldn't send them directly from like if you did a contest in and enter an email and you said, “Here, go over and buy my thing.” In my email I'd say, “Here's the coupon code to basically get 25% off or 50%,” then you would drive them over to the listing. You want that little bit of a door there so they don't just go directly straight over to Amazon because that can hurt your conversions.

I know I threw a bunch of stuff at you think about but it really does come down to traffic, then after you get traffic then we can think about conversions and then from there we can start thinking about how to optimize that or to get better conversions by tweaking those things that we all know or most of us know and if you don't, it's basically your images, your title, your bullets and your description and your back end search terms. Those are the main elements to help us get ranked and help us convert. I know this wasn’t like a huge, huge like this is exactly what you got to do but it is in a sense that you have to go back and you have to reverse engineer what's happening here.

Then you got to take one step at a time to really try to hone in on each area there. I say anybody out there that's at that point. You got to just hone in on the area to get fixed before you can move onto the next thing. If you're worrying about conversions but you don't have the traffic well you're worrying about something that you won't be able to fix until you get traffic. I hope that makes sense. It's sounds confusing but I think it makes sense. Anyway, hopefully this helps you. Keep me posted. Anyone else that's struggling with this as well, just understand that this is a process and you have to understand how it works and then from there we can reverse it back to those different key points. Then from there we can start to build on that. Hopefully, this has helped you. Let's go ahead and listen to one more question and I'll give you my answer.

[00:21:28] Bill:  Hi Scott. This is Bill from the Boston Area. I love your podcast. It keeps me company in my morning commute so great job, please keep them coming. My question is, does the number of units that you have in FBA inventory seem to impact how well you rank in search relative to other similar products? For example, if I had say 1,000 units of inventory would it affect more favorably in Amazon's algorithm than if I had only 25 or so? I try to have as little tied up in cash and inventory as possible but I was curious if having more on the shelves would make a difference? Thanks very much and I hope you're enjoying the Carolinas.

[00:22:06] Scott: Hi Bill from the Boston Area. What's up man! I almost couldn't answer your question because I think I have a feeling you're probably a Boston Red Sox Fan. I'm not sure but usually people that live in Boston area Boston Red Sox Fans. As you guys probably know I'm a New York Yankee Fan which they're not going to make the playoffs this year but I still not a Boston Red Sox fan. Sorry. All kidding aside here.

Thanks for the question. Let me answer this. I don't think I've ever been asked this question actually and I haven't really given it much thought myself. But here's what I believe that you're asking. If someone else has 1,000 units in stock and someone else only has 5 is Amazon going to give them a better ranking push because they have more units? The answer to that question in my belief is no.

I don't think it matters because what Amazon is going to do is they're going make the sell out those five units for that other person, then you’re going to show up. That’s how that would work. They just care about the sales. The thing is if you have five units but yours been converting like really, really good and the one that has 1,000 units, hasn’t been converting good or hasn’t been converting as good as yours, it's not going to matter. I could be wrong but this is just my hunch, I have no proof on that but I would say you do want to try keep your inventory up because you don't want to run out of inventory.

If you can help it because if you have good conversions you're going to lose rank as soon as you go out of stock but if you have good conversions, you can get them back but sometimes and I've heard from some others that have been struggling with this is where sometimes even if you had good conversions, they might be harder to get back depending on if your competitor started to ramp up theirs because now they realize you went out of stock. The other thing that can happen is if you go out of stock for a week or two, another competitor could have came in and started really drilling in, really trying to do a really aggressive launch.

[00:24:03] Scott: Then it's going to make it harder for you to come in and get your spot back. Now again I think I believe that if you have a really good listing that's been converting well, it's seasoned, it's in a seasoned account. What I mean by that the account's like more than six months old, it's been around a little while and it's got history to it, your feedback score's up and all that stuff I think you're not going to really have a problem getting back ranking or selling as long as you don't have a bunch of people that have come in since you just left. That's going to be a little harder for you. I think that personally you shouldn't have a problem getting ranked again but I know that wasn't your question but my point is this.

Don't let it get so low just because you want to save a little bit I would rather go a little bit of heavy. Do the projections as you already have had history and look at it that way and say, “I want to try and stay 30 days ahead.” Now, if you get one or two days you might have 100 sales and you normally only get 20, that's going to skew things but then you better start shipping in immediately. If you have to order this stuff and it takes 30/40 days you want to look at that stuff. I don't believe that it has any effect on your ranking if you have five units and your competitor has a thousand, yours is selling better and you have more history, I don't think that that's going to matter. I wouldn't really worry about that but I would say don't get down to 5 units. That's what I would say. This won’t even be a conversation that we're having at this point.

That's it. That's going to pretty much wrap up this session of Ask Scott. Guys I got through it. I got through it with the new juice in the body. Pretty high energy as usual and I'll keep you guys posted on how that's going and if I can do it because that's like that’s all you do for three days which is kind of crazy. I did want to remind you guys a couple of things. Number one, if you want the show notes to this episode head over to theamazingseller.com/265 and you can grab the transcripts, the show notes, all that stuff over there. Episode 189, all of the links I talked about will be there too but 189 was about the product validation and depth of market and all that stuff but all of the links that I mentioned will be in the show notes as well as the live event, The TAS Live Breakthrough. That will be there as well which I'm getting really excited about that. That's coming up here soon. We do have a handful of spots left. If you're interested head over to theamazingseller.com/live.

[00:26:18] Scott: All right guys. That's it, that's going to wrap it up. 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.

[END]

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