Are you ready for that extra dose of inspiration to move you across the finish line this week? You’ve come to the right place! It’s time for another session of Ask Scott. On this episode of The Amazing Seller, Scott shares his thought of the week, how to respond when your sales drop to ZERO, what it takes to rank your product in a competitive niche, why building an email list isn’t needed for every product, and so much more! Grab pen and paper, you don’t miss a minute of this informative and helpful episode!
Someone is watching you!
Look back to those influential people in your life, what was it about them that made such a large impression on you? Was it your dad’s work ethic? Your mom’s ambition? Or your older brother’s innovation? Somewhere along the line, someone made an impact on you and right now, you are having that same effect on someone in your social sphere. On this episode of The Amazing Seller, Scott encourages leaders like you to think about the people in your life who are watching your actions, especially if you have kids. To hear Scott break down the responsibility of setting an example, make sure to catch this episode!
What should you do if your sales suddenly drop to ZERO?
Imagine that you are getting your ecommerce business off the ground and you have steady sales, then suddenly, almost out of nowhere your sales drop to zero. How would you respond? What steps can you take to correct the situation? On this episode of The Amazing Seller, Scott addresses this situation that a fellow TAS follower like you encountered. Scott says that one way to figure out how to start fixing the situation is to increase your PPC spending. This will tell you if you can get more views on your listing if those views translate to sales. If they don’t then there are a few other options you can start addressing. Listen to this episode as Scott expands on this subject and more!
Is it always the best move to build an email list?
If you’ve been around the TAS community you’ve heard from Scott about the importance of building an email list. If you haven’t, make sure to search the resources for more information on that subject. But the truth is, there will be some products and some brands where building an email list isn’t the best use of your resources. Make sure to listen to this episode of The Amazing Seller as Scott explains the few exceptions to this rule. You’ll also hear about how to compete in a niche market and so much more! Don’t miss this informative episode!
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:03] Scott’s introduction to this episode of the podcast!
- [4:30] Scott’s thought of the week; you are being watched!
- [10:00] Question #1: My sales dropped to ZERO! What should I do?
- [18:00] Question #2: How do I rank my products in such a competitive niche?
- [27:30] Question #3: Does it make sense to build an email list for every brand/product?
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TRANSCRIPT TAS 451
TAS 451: ASK Scott Session #139 – Sales Vanished – Help to Narrow Market – One Product and Email List?
[00:00:03] Scott: Hey. Hey. What’s up, everyone? Welcome back to another episode of The Amazing Seller podcast. This is episode number 451 and session number 139 of Ask Scott. This is where I…
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…answer your questions here on the podcast. I do it every single Friday and I’m back to do it again. Man, let me just say I am really excited today. A little bit more than usual, if that can even happen. We’re in the holiday season. I always get a little bit more happy during the holiday seasons. It’s just a fun time. My father just visited for about two weeks so I got to spend some really good quality time with him. If you guys missed that video that I shot with my father talking about what it was like to raise me and really how it’s been raising an entrepreneur. He didn’t really realize it but that’s kind of what he was doing. I’ll give you guys the link here in a minute where you guys can go check that out if you want to. It was a lot of fun. It’s funny, whenever I do stuff like that … I’ve had my father on the podcast a couple of different times. It’s kind of fun to go back in time a little bit. It’s also cool for me because I’m documenting a conversation that I’m able to have with my father, who’s still here. I’m so fortunate for that and to be able to document that. I can always go back and listen to that, just like a home movie you could. That’s kind of how I look at these little interviews that I do with him or a video that I do with him. This most recent one was kind of cool. We went back in time and went through some of the stories of me growing up and how I got the entrepreneurial bug.
Anyway, yeah, that was really fun. My daughter just turned 10, which is pretty awesome. I’m feeling a little bit older saying that, and it’s sad. My wife and I are like, “Oh my gosh. She’s turning 10.” Then I have to stop and say, “Yeah, but we’re able to enjoy it. We’re here where there’s another chapter.” We keep talking ourselves out of being down in the dumps because our kids are getting older. We love our kids. A lot of people say- it’s funny- like, “Can’t you just wait until you’re just you and your wife and you’re empty nesters.” It’s like, no, not really. I enjoy the hustle with the kids. I really do. I enjoy going to the baseball games, the basketball games, the recitals, all of that stuff. I enjoy that stuff so, so much. Family to me is so important. I think you guys know that by now if you guys have been listening to the podcast for any amount of time.
Anyway, that’s why I’m fired up. The holidays are here. The fourth quarter is here. Amazon is crushing it for us. Our new brand we’re doing amazing. We just did a recap on I think it was the last episode. You probably want to go in the show notes to this episode, which is 451, and I’ll put all the links to everything there. A lot of stuff has been happening this month. Yeah. Just really, really excited about that.
Today what I’m going to be covering are a few questions that were submitted by you. One of them is “My sales vanished. I was getting sales, maybe three, maybe five sales. Just launched. Going good for like three, four weeks. Then sales just disappeared and I’m not quite sure why.” We’re going to talk about that. The other one is they wanted suggestions on how to narrow their market. They think they might be too wide and they might not be able to position themselves as being different. They wanted to know how to do that. I’m going to talk about that. Then the other one is “Should I build an email list if I only have one product, and if that one product doesn’t really lend itself to other products?” It’s a great question. We’re going to answer that one today on today’s episode. All right. That’s what we’re going to be talking about.
Now, if you guys have a question that you want me to answer on an upcoming Ask Scott, head over to theamazingseller.com/ask and you can do that. You can ask a question. Just leave your first name, where you’re tuning in from and a brief question. I’ll do my best to answer it here on an upcoming show. All right? The show notes, like I said, can be found at theamazingseller.com/451. You can grab all the links in the show notes. There’s going to be a lot of links because there are some episodes that I want to link up to, the past episodes. My father’s interview that I just did with him on video, I’m going to link that there. Then also there’s going to be all of the resources that we’ve done this month, really. We’ve done a five-part private label roadmap series through the podcast. That’s all there for you guys as well. You’re definitely going to want to probably go and check out these show notes. All right?
One thing that I want to discuss here before we jump into today’s first question. You guys know that I like to share my thoughts. Kind of like what’s happening, kind of like mindset stuff, all of that. What I want to talk about today, and I kind of alluded to it before, was with my father. It’s like he raised me as an entrepreneur not even really knowing what he was doing. What I want you to do, and this is what I’m doing right now currently as well, is keep in mind that you are being watched. All right? Now, let me explain. This isn’t like in a really scary way where someone’s watching you like, “Ooh, boy. Someone’s looking over my shoulder.” It can be a little scary because your actions are probably being watched by maybe people in your life. It could be your wife. It could be your children, and that’s really what I want to talk about. If you have kids they are watching you. I watched my father. I watched my father struggle. I watched my father never really complain but go out there and bust his butt, work two, three jobs to make it work. Back then you didn’t really have the opportunities that we have today to go out there and build a little online business like we’re doing here. He didn’t have that stuff. The only way that he could make money was to actually go out there and work more or do extra jobs. Then I watched him build his own business from scratch. I watched how it started with him just in a little pickup truck to then hiring a bunch of people, including myself, and building that into a few-million-dollar-a-year business. I watched all of that. Okay?
Right now I’m looking at my children. I’m looking at my 10-year-old. I’m looking at my 19-year-old. I’m looking at my 22-year-old. All of them have been raised in an entrepreneurial household. Okay? Some people are pushing college from day one. I’ve never done that. I’m not against it, and you’re going to hear that if you listen to the interview that I did with my father. My son, who’s 19, college is the right choice for him right now because he’s going to be a physical education teacher. He needs four years of school. Okay? Plus he wants to still be involved in sports so it’s the right fit for him. I never pushed it on him. I gave him the opportunity but I still gave him the choice to do what he wanted to do. I showed him what I’m doing just by doing it. I never said, “You have to be an entrepreneur.” Okay? My 10-year-old is coming to me with ideas. “Hey, dad. There’s this great idea I have for a candy cane holder. Maybe we make this little rubber thing that slides up on it so it doesn’t get all of your hands all sticky because it’s kind of sticky.” She’s talking about creating products at 10 years old because she’s been raised around that. She’s watching and hearing and listening to what we’re doing. She knows what private label means. She knows what FBA means. She knows what e-commerce means. All of these different terms that we’re just throwing around at will. It’s kind of like raising someone in a house that you speak another language. They’re going to automatically pick up on that language. It’s just going to happen because that’s all you’re doing. Okay?
I just want you guys to be aware that you are learning through what you are … Your kids are learning through what doing. You’re also learning by teaching them. They are learning by watching what you do. Pay very close attention to what you’re doing and how you’re reacting to it. If you’re one that’s just going to complain all the time and say, like, ”This life sucks …” Sorry to say it like that, but if you’re just going to be that way that’s how your kids are going to be. It’s just the way it’s going to be. They are going to probably be like that because you’re raising them that way. If you’re always like, “You know what, that’s no problem. I’m just going to get over that. I’m going to bust through that barrier and I’m going to do it. I’m never going to give up. That’s not an option for us. We’re winners.” That attitude. Okay? I just want to throw that at you to give you something to put in your mind when you are going through these ups and downs. To also think to yourself you’re not just doing this for yourself. You’re doing this for other people that are watching you. This doesn’t necessarily have to be your children. I know some people don’t have children that listen to this. Maybe you have other people that are watching you that look up to you. It’s kind of like people looking up to you that aren’t where you are yet, but they see how you deal with certain things.
That’s really what I wanted to share with you. I really now realize after these 22 years of raising kids that they are a product or a creation of what you have shown them and what you have shared with them. I think if you understand that you also know that what you’re doing isn’t just affecting you personally, but it’s affecting the people that are paying attention to you. All right? Just keep that in mind. When you feel like having a long face maybe bring it the other way. This way here you know that you’re showing them that you can do this thing and you’re not going to get down on yourself. Just positive energy. I can’t stress that enough. Positive energy is big. All right?
Guys, if you want to watch that video of me and my father you can head over to theamazingseller.com/dad. Go check that out and let me know what you think. I’m curious to see what you guys think about that. Let me know on that video if there’s anyone in your life that has inspired you or shaped you into the person that you are today in business and just in life in general. I’m just curious. Maybe give them a little shout-out. Give them a little love. Call them up or send them an email and say, “Hey. Thanks for showing me the way. Thanks for making me who I am today.” I think it’s really important to do that. All right?
Guys, all right. Let’s go ahead. Let’s get rocking and rolling. I know you guys are ready to go here with the Ask Scott stuff. Let’s go ahead and listen to today’s first question and I’ll give you my answer. Let’s do this.
[00:10:12] Sue: Hi, Scott. My partner and I have started an Amazon business. We’ve been selling for almost two months now. This is our first product and our sales have been pretty good. We’ve probably sold about three or four units a day. We’ve had a spike up to 11 units. Then all of a sudden two weeks ago for no reason the sales just dropped to zero. We did a Best Deals campaign with Amazon and thought that might be beneficial especially around Black Friday. That actually worked to our disadvantage, it seemed, because sales completely dropped. We’re really kind of stuck. We’ve been doing a PPC campaign. We’re looking at how we can modify that and what we should change but as a newer seller, it’s hard to understand all of the data. We’ve been pulling the reports but we’re just taking guesses at this point, listening to lots of podcasts and different people about strategies. I just wondered if you had any advice or if you had any tips on what we could do and what we should be looking at to make some changes so that we can start to see some sales again. Thank you.
[00:11:24] Scott: Hey, Sue. Thank you for the question. I got your name from the email that you sent but you didn’t include it in the voicemail, but that’s okay. I’m going to go ahead and answer it anyway. Guys, if you are asking questions please just put your first name in there so at least I can address you by first name. Luckily, Sue’s name was attached to the email that came through with the voice message.
Anyway. Sue, congratulations, number one. I want to say congratulations because you took action. You are launched and you have a product that is available for sale. That’s usually the first hurdle, so I applaud you for that. It sounds like things went really well in the beginning. I’m curious … and this is something that would be nice if we were sitting in that coffee shop like I like to do and have that conversation. Then I would ask you, I would say, “What did you do to launch? How did you get those initial sales? Did you have an email list? Did you just run straight pay-per-click? Did you reach out to an influencer? What did you do to start getting sales? Or did you just put it up and it was optimized and, boom, you got some sales? Did you have someone write a blog post about it? That could have been the reason why you had a few sales there for a short period of time and then that traffic source went away.” There are some of those things that I would need to know to really diagnose the problem. I’ll still give you some things to do or things to think about.
Number one, I would start straight pay-per-click. I know that you’re doing that right now, but I would go aggressive with it. I want to see, number one, if I can get in front of the right audience am I going to be able to get those sales? That’s number one. I would just find the obvious keyword. If it’s ‘garlic press’ then I’d go after ‘garlic press’. I would spend kind of whatever it took, in a sense. Let’s just use a number. I would spend 100 bucks. I would see if I can convert with that keyword or if I can get the attention. If you can’t convert with the obvious keywords it’s going to be harder for the other ones. Okay? Hopefully that makes sense. That’s what I would do number one. I would just use pay-per-click. I’d go after the obvious keywords, maybe five of them. I would run a very aggressive campaign. I would bid high so I could get there on page one.
One little trick here that my buddy Dom Sugar had introduced me to, and I’ve done this before. He said it generally takes around 20 to 30 minutes, and it’s true. It does. At least, it has in my experience. We did it almost together live and we’ve seen it work. If you want to see what it’s going to take to be on first page you have to give Amazon a higher pay-per-click amount than your competition, right? It makes sense. What he was saying to do was just go ahead, put it up to five or 10 dollars even, put a cap on it at only 25 bucks for the day. This way here if you get five clicks right away you’re not going to be spending 150-200 dollars. You want to cap that. Then instantly you’re going to see if you’re optimized, number one. You’re going to see that Amazon has recognized that you should be showing in an indexed for that keyword and then also in search. That’s one thing that it does for you. It also will see what you need to spend to be there and what your competition is spending.
The reason why we’re doing this is because, number one, I can’t really tell you if your product will sell unless we get eyeballs. Right now you’re saying that you had eyeballs and now the eyeballs are gone away. You’re not getting the exposure so you’re not getting the sales. The first problem is really are we getting eyeballs? Are we getting traffic? How do we fix that? We pay for traffic and we get it there and then we see if it converts. We’re kind of like reverse engineering what we need to do in order to get sales. The easiest way is to get in front of the right people. Right? I think that makes sense.
What I would personally do is I would do that. I would raise my budget to five dollars a click, let’s say. I’d cap it at 25 dollars. Even your overall account I would cap at 25 dollars. This way here you don’t go over the 25. Maybe you want to do 50. I generally do about 100 bucks because I’m willing to spend 100 bucks to get a result pretty quickly. Then I’ll put the bid at five dollars. Then I’ll sit and wait for 20 to 30 minutes. Then I’ll go ahead and I’ll check to see where I’m ranking in the sponsored product ads. There’s a difference between ranking organically and then ranking in the sponsored product ads. You may even get a first position right above, almost like a banner in a sense. It’s not a banner. It looks like it’s an organic, it’s just sponsored. You’ll see the ‘sponsored’ little text in there. Then you can say, “Oh, wow. I’m showing up at five dollars. I don’t know what it’s going to cost if someone clicks yet.” You’re going to get a click. When you get a click you’re going to see what it cost. Now, I wouldn’t do it off of one click. I would try to get at least five to 10 clicks. That’s going to show you the average of what the click is going to cost. Then this way here you can see, “I bid five dollars and I’m only showing up in the third position.” Now you know that five dollars still isn’t enough but you’re willing to maybe be in only the third position. This way here you’re able to get the traffic. That’s what we need to do. If we get the traffic and you’re still not getting sales then we have a product problem. Okay? To me it seems like you had traffic and then the traffic went away. If you were only doing organic search things can happen all the time, right? Someone else can come in. You can have five new sellers that came in in the last two months and pushed you to the second page or the third page. That’s some things to think about. That’s what I would do. That’s what I would start with. Then this way here you can start getting that data and you can start coming back.
I’m not necessarily looking at the search report right this second from doing that. You do have some data so I would probably start looking through it. I would go right after the five to 10 keywords. I would bid high and I would want to see “Where am I getting the eyeballs? Are these eyeballs my ideal customer?” If they are and they’re not buying then we have a problem there. That’s what I would do. Then this way here you can get an idea pretty quickly. You don’t have to wait to rank organically. If that does work then you have to decide is that traffic worth spending even temporarily to get sales so you can rank organically? I know I threw a bunch at you there but that’s exactly what I would do. I would know the answer probably in about a day as far as if I have a problem there with traffic, and if I get the exposure are people buying my product?
Anyway, Sue, hopefully that helped you. Keep me posted though. Let me know if you try this and what happens. I’m curious myself. That’s what I love doing about these little experiments is I like getting the results back. Let me know. All right. Let’s go ahead and listen to the next question and I’ll give you my answer.
[00:17:54] Chris: Hey, Scott. This is Chris calling in from North Carolina. I’ve been binging your podcast for a while now. I have a couple of related questions I haven’t really seen answered yet. Earlier this year I launched a new product because I was excited about it and the cause. A portion of my profits go to a specific conservation effort. I don’t want to give the specifics but the brand is centered around that. The three products I launched at the beginning are all in a pretty competitive niche but are quite unique. They come in various cute and fun patterns and styles, something people are less likely to search out. When they see them they’re like, “Oh, my God. That’s cute. I must have one or buy it as a gift or something,” instead of searching for that specific style. You already know the niche. For the sake of an example let’s say I have three styles of shoes that I launched: canvas sneakers, leather dress shoes and fleece slippers. Each one of those has eight to 12 variations. For example, an animal print, fruit print, bacon print, rainbow print and so on as well as a couple of solid colors. That’s what I mean by people are less likely to search for a bacon print canvas sneaker, but when they see it they kind of fall in love with it.
I know the first issue that I’m having is that I need to cut down on some of my variations. That’s something I’m working on right now, cutting out some of the ones that aren’t selling so well and keeping the ones that are. My main issue is that since I’m selling primarily on Amazon, even though I launched my own website on Shopify at the very beginning because building the brand is really important in this case. I basically ended up skipping the first couple of steps in your blueprint, which is the actual on-Amazon product research phase and just jumped right into the product right away. Needless to say, I’m having some issues ranking in such a competitive and saturated niche. I’m not married to the specific styles but I am married to the brand and the cause. I could, for example, get rid of the leather dress shoes but I’d rather replace it with another type of shoe, if that makes sense.
I guess my question is, how do I rank my products in such a competitive niche – canvas sneakers, fleece slippers, that sort of thing – especially when my prices are a bit higher than the bulk operations that tend to make up the top sellers? Which actually leads me into my next question. How does someone make a more expensive product attractive, in particular when it’s a philanthropic company like mine? I can’t put any donation under whatever wording in the titles, but I do have a lot of unique and cute patterns that nobody else has. How would I use that fact that I donate proceeds to my advantage in this situation, if there is a way to do that other than I have it in my bullet point? That helps, obviously. When I’m going to be creating my EBC in the near future I’ll put that in there as well. I’m not sure if there’s much more that I can really do in terms of showing that I donate proceeds so … Anyway, thanks a lot for your time. Keep on keeping on. You’ve got an awesome podcast. I’m looking forward to hearing more of it. Thanks, Scott.
[00:20:48] Scott: Hey, Chris. Thank you so much for the question. I think we’re neighbors kind of in a sense. You’re in North Carolina. I’m in South Carolina and I’m not far from Charlotte. Yeah, that’s pretty cool. We’re neighbors. Maybe we’ll have to grab a cup of coffee at some point and we can do this over coffee. I’m going to do it here for you today. From what you’ve given me I’m going to give you my thoughts right off the top of my head. There’s a lot of different things that we can discuss here and we would have to go into the specifics.
Number one, you have a ton of variations. I think you already said that you’ve got to cut down on your variations. I think once you launch it’s kind of exciting because you have this one thing that can have multiple variations. We’re talking styles or prints or anything like that. Then you can just go for days with variations, right? We have to figure out three or four that are going to be the ones that people are just going to buy. That’s number one. We need to figure that out. Okay?
The second thing here is we need to narrow down. We need to niche down or niche down, depending on where you’re from. Everyone says niche or niche differently. You have to figure out how to narrow down your market, all right? Let’s just talk about a standard sneaker, okay? It’s just a standard sneaker. It is an everyday wear sneaker. It’s very competitive. The minute that we niche that down and we go into a basketball sneaker we’ve just niched it down one more. We just went one level down. That’s a broad example but you get the idea, right? Then from there we can say, “Okay. Now we’re going to create, I don’t know, a tennis sneaker that’s made for just tennis players.” Then we’re going to do one for soccer, indoor soccer, let’s call it, because you can have a cleat but that’s another one. We’ve niched down in there. It still goes on your foot. It’s still a sneaker in a sense or something that aids you in that sport. I think and I hope that that’s going to help you as far as figuring out in your mind … Only you can do this because you know what your market is and what your niche is. You have to niche that down.
Let’s use a fishing example. I can create a tackle box. Yes, it could work for all different kinds of fishermen. It could work for deep sea fishing. It could work for bass fishing. It could work for … what’s another one? Fly fishing. It can work for all of those. If I want to really call out the market and go after bass fishermen then I’m going to create a specific tackle box that’s going to be tailored towards just them. Okay? I think you need to figure out what that niche is that would be most likely to be searching for your products. Now it could be instead of just looking for a sneaker you could be looking for a basketball sneaker. Now we’ve just niched it down. All right? Or basketball sneakers for kids. Now we just niched it down again. Now we’re not serving the men and the women. We’re doing kids. Then we can go even one level deeper and we can go to babies or infants, toddlers.
You see what I’m doing here though? We need to niche down inside of the market. Then from there what you can do, now you can target just those people on Amazon. Then when someone comes across that they’re more likely to buy or to be interested because you are calling it out in your copy and in your product that it’s made and created for this. Say, let’s go into pets. Let’s say you created something that was for pets. That’s pretty broad. Now we niche it down to dogs. Now from dogs we go into a certain breed. Maybe it’s for German shepherds or maybe it’s for puggles. Like, I have a puggle. Brody is a puggle, if anyone wants to know. It’s a pug and a beagle mix. Or maybe it’s going to be pug owners, just pugs. It’s a huge community out there. Maybe it’s pug owners. Maybe it’s Rottweilers. Right? Really, I’m creating a niche inside of a niche. We call them sub niches. It’s kind of like where you’re niching down and you’re going deeper.
I always talk about going deeper even in your product research. This is another thing to do. Again, if you’re doing product research and you’re going after dog leashes you should probably figure out another spin on it. This way here you’re not just … people that are searching for ‘dog collar’ or ‘dog leash’. It’s going to be specifically for a certain breed or a certain owner that will be searching for that. All right?
Hopefully that makes sense. I think if you do that … The other thing is you talked about a cause. I think that’s awesome. Right? The one I think that’s worth looking into, and look this one up. I’ll try to find it and drop the episode in the show notes here. The show The Profit. Okay? The Profit with Marcus Lemonis. I love that show, by the way. What he does here for this one company who is all about a fundraiser. It’s about cancer awareness and then now they’re doing clean water. They’ve really branched it out. They talk all about creating a product around a cause. They talk about how they do it. That one there was for Flex Watches. Even just go and check out Flex Watches you’ll see how they’ve created a watch for specific causes. Then from there they donate a certain part of the proceeds to that. It does get a little complicated if you’re going to do that inside of your listing and stuff like that. You’ve got to be careful. That would be something that you would have to probably even run by Seller Central or Seller Support. Yeah. If you can attach a cause to it, again, you’ve niched it down even more. Maybe inside of that fundraiser or that cause that you’re doing you’re niching down inside of a broader niche.
Again, I think you have a lot of opportunities here. I think you are in a great place because you have this product that you could target different sub niches. I think you just have to figure out what one is going to be the best fit, and also the one that probably has the most traffic right now. If you’re doing your research like you would have done in the beginning, what I would have done is I would have said, “All right. I want to go into the fishing market. Now let me go ahead and look at the fishing markets that are not even the biggest, but the ones that are buying the stuff that I could potentially sell.” Right? Or “What do I have a better opportunity in? Maybe bass fishing is flooded with products but fly fishing isn’t. Maybe I’m going to go after that. Then I can go into bass later when I start to get some traction.” That’s pretty much what I would do. All right, Chris? Keep me posted. Let me know how things work out. Let me know what you do. I’m really curious to see what you do and hear a little bit more about this. Yeah. I think you’re going to do great.
All right. Let’s go ahead and listen to the last question of today. We can get this thing wrapped up. You guys can get on with your day and get out there and take some more action. What do you say? Let’s do it.
[00:27:48] Troy: Hey, Scott. This is Troy. This is a question about email lists. If you’re selling a product that people generally are only going to purchase once, how important is it to have an actual email list? Are you just going to keep bothering them about something that they already bought? Yeah. Maybe I’m totally off but, yeah. As always, thank you for everything. You guys are awesome. Yeah, totally motivate me, man. Thanks a lot.
[00:28:20] Scott: Hey, Troy. Thank you so much for the question. It’s a great question. I want to clear this up right now. Does building an email list for every person, every brand make sense? The answer is no. If you’re selling one product you’re not really building a brand anyway. Right? All you’re doing is saying, “Hey. There’s a trend here. People are buying this thing. If I put some up I’ll probably sell them.” Okay? That’s what we call the open brand, in a sense. Also, in the open brand we are kind of building little markets or little, I guess, brands inside of the open brand. We’re able to test kind of retail arbitrage. You’re able to test a variety of markets. Then from there you may get an idea that this is something you want to build a brand around. That could give you ideas for a brand. That’s for another conversation.
Let’s go back to you. If this is just one product, let’s say fidget spinner. Let’s use fidget spinner. I think we can exploit that right now. I think everyone knows about the fidget spinner. Let’s just say that you are going to sell a fidget spinner. Would you build an email list around people that are buying a fidget spinner? Probably not. Now, could you and then offer other things that are related to that, like toy type stuff maybe? Yeah, you probably could. I don’t necessarily think I would do that. Now, could you maybe approach a blogger or someone on YouTube that does sell toys and then you give them a deal on your toy? Yeah, you absolutely can do that. That would be probably my take. You’re not going to build an asset in that market because you don’t think you’re going to be in that market anyway. That’s what I would do. I would go out there and piggyback off of someone else’s list and try to align myself with them and say, “Hey, I’ve got these fidget spinners. I’ll give your audience 25% off. If you want, you can go through your own affiliate link and then you can make so much per sale too.” Or maybe you pay them 100 bucks to send it or 200 or whatever. Whatever deal you work out with them.
I guess the whole thing here is you’re not going to be building a list in that market for the most part. Now, some could argue and say, “That’s a novelty item. Then you can just sell them other novelty things.” Yeah, you could but it’s not specific enough for me. Right? If it was something that you knew that was supporting a certain cause. Or like I talked about earlier, maybe you are going to sell pet items but they are like … Maybe you’re going into the pug market. You’re going to sell t-shirts, mugs, you’re going to sell bumper stickers. You’re going to sell maybe the cover for the Jeep on the back of your car that says “Pug life” or something. I don’t know, like those types of things. Maybe you could. Now what you’re doing is you’re building an audience in that market. See the difference? We’re not just selling a bumper sticker for pugs and that’s it. We’re selling pug owners’ stuff. If you’re a pug owner and I send you an email and I’m talking about not just pug products but I’m talking about how to take care of your pug, how to make sure their nails are clipped properly, how to make sure that you can identify if they have any hip problems and then there’s hip supplements that you can recommend. That’s what I’m talking about. They would still probably be interested in ‘I love my pug’ bumper sticker or shirt or mug, right?
Again, you see what I’m doing here. You have to establish … If it’s a fidget spinner that’s not probably list-worthy. Hopefully me giving you these examples, and anyone else listening, you kind of get how I’m thinking as far as is there a market out there that is buying multiple things versus just a fidget spinner? Okay. I think that’s a great example actually. The fidget spinner would not be list-worthy, like I said. Maybe building something in a certain breed of dogs is, all right? Then you can sell that one product that you have right now but then eventually maybe others. Again, just some things to think about. Let me know how you make out. Hopefully this has helped you and anyone else listening.
I think it’s really important that when you’re picking products- and I just talked about this on the podcast. I also talked about it on YouTube- is really about when I look at even just launching a new brand or even a new product I ask myself, “Can there be a brand built around it? Is there a market already out there? Or is there already a community out there being built?” Then I know that I could probably build my own. I could probably build my own email list and I can probably sell multiple products. That’s kind of how I think. I think that you should be thinking if you are thinking to yourself you want to be build a brand or if you want to go all in on this. If you’re just testing then just go ahead and test it with that one product, like the fidget spinner maybe, and see what happens. Now, I wouldn’t do that but you get my point. All right?
Guys, that is going to pretty much wrap up this episode. A couple of reminders. We’ve got a lot of resources on this show notes page. You’re probably going to want to go check that out. Theamazingseller.com/451. I will drop the video to myself and my father. You can go check that out if you want or you can go directly to that at theamazingseller.com/dad. You can watch my father squirm a little bit when he’s asked a few of these questions, and also him to admit that he’s never really been comfortable being in front of people. For him to do this it was kind of him stepping out of his comfort zone. I kind of pushed his limits a little bit there for you. Definitely check that out. Love my dad. He’s taught me a lot through the years. You can watch that if you choose to. You know what, let me know, like I said, in the comments. Let me know on that video if there’s anyone in your life that you feel has inspired you or that has really helped you. Even if there’s things and lessons that you might have learned that now you look back and you’re like, “Oh, that really taught me this,” I’d like to know. I’d be interested to hear if there’s anyone in your life that you feel that you can look back on and go, “Wow. That person really taught me things without even really knowing that they were teaching me something.” I think it’s pretty cool. Definitely check that out.
All right, guys. Let’s wrap this up. Remember, as always I’m here for you. I believe in you. I am rooting for you but you have to, you have to, come on, say it with me, say it loud, say it proud … Actually, my father says it on the video so go check that out. Take action. Have an awesome, amazing day. I’ll see you right back here on the next episode.
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