How to Get Started on Amazon

How to Get Started on Amazon

Held: 15th August 2018

Venue: SimplyWork 2.0

Chapter: Shenzhen

You have a product...now what? Learn how to start Amazon the right way and how to successfully sell your product on Amazon from Zack Franklin of AMZKungfu.

WHY SELL ON AMAZON?

~ There are more than 100M Prime Subscribers. This translates into 100M potential buyers.

~ FBA – Fulfillment by Amazon

~ High trust, high conversion rates. Amazon conversion rates are between 10-30%!

WHY NOT SELL ON AMAZON?

~ Fees! 15% referral fees; warehouse, storage, advertising, etc.

~ Amazon allows other users to advertise on your listing (i.e. similar product suggestions).

~ Amazon owns your customers. You cannot upsell or remarket to buyers because they hold their info, not you.

~ Suspensions happen quite frequently.

KEYS TO SUCCESS FOR SELLING ON AMAZON

Step 1 
1. Know the problem you’re solving and the existing demand on Amazon.

2. Remember, Amazon is a SEARCH ENGINE. When a product succeeds, it’s not because it creates demand, it’s because it taps into a preexisting demand.

3. Find the right problem.      
     ~ Find similar products on Amazon and read the reviews. If there is not a similar            product, that’s a bad sign!

     ~ Keyword Research. Use Sonar-Tool.com or Mturk.

     ~ Talk to at least 20 potential customers.

     ~ Read Quora or AnswerthePublic.com

 

Step 2: Set it up
1. Create a Professional Level Amazon Seller Central Account.

2. Sell small stuff to get feedback and initial metrics.

3. Create an Amazon listing – hire a professional Amazon copywriter.

4. Set a future “start date.”

5. Send your products to an FBA warehouse.

 

Step 3: Launch to a list
1. Start strong – it’s a system of rolling averages.

2. Market your product one week before launch or have an email list of potential customers.

3. Consider launching through Reddit or Facebook ads.

4. Sales Velocity (average daily units sold) is most important.

* Have at least 400 units of inventory ready to launch.

* You will likely lose on your 1st round of inventory. You need to BUILD the listing – reviews and ranking.

 

Step 4: Reviews & PPC
1. USE: Early Reviewer Program, “Product Tester” Facebook lead ads, Friends of Friends of Friends (create distance between your contacts and the reviews), Facebook Retargeting.

2. DON’T USE: Facebook Reviewer Groups, Friends and Family.

3. PPC – Pay-per-Click Advertising

               ~ This is one of the most effective marketing channels

               ~ Profitable and affordable

 

Step 5: Profit

REAP THE REWARDS AND ENJOY THE SUCCESS!


To view photos of this event, click here.

About The Speaker

Zack Franklin

Zack Franklin

CEO and Founder, AMZKungfu

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