Here is what I learned about Amazon in the last 7-days:
1) It all comes down to your product.
If you genuinely have a good product and you drive traffic to it, you’ll succeed.
Occasionally I work on a 1-2-1 basis with brands.
MTD we achieved $69k in revenue with one product, despite launching on the 30th June. See the screenshot at the bottom of this email.
2) Donal, an old Amazon colleague who solely dealt with strategic sellers, believes this to be the biggest mistake brands make:
“They don’t focus on the end customer enough, typically taking the path of least resistance”.
He’s not wrong either. We saw this day in day out at Amazon, everyone just thinking about themselves and not what would delight the customer.
We also discussed; unboxing experiences, what he felt was the great threat to Amazon brands, and picking just one brand message
– you can listen to it on my upcoming podcast It’s Always Day One: www.itsalwaysdayone.co.uk.
3) Amazon Advertising can be the lifeblood of your brand on the marketplace.
If you’re not doing it, or not able to (due to inability), then you’re starving your listing of incredibly valuable traffic which can prevent you from succeeding.
In this day and age, you must be utilising social traffic for top of funnel, then Amazon paid traffic for bottom of the funnel.
If you don’t know how this looks play by play, ask.
4) Amazon Business allows small brands to build B2B relationships with multinationals like Siemens.
5) You can’t trust ACoS scores you read about online, particularly when it comes to Sponsored Display Ads. See my LinkedIn post on this here.
6) Most brand owners aren’t aware of the importance of creating DEFENSIVE advertising campaigns on Amazon – letting their competition slide in and take market share 🤯
7) If you lose your own Buy Box and nothing drastic has changed recently, you can try “spiking the price to win it back”.
8) You can apply Tim Ferris’s 4-hour Work Week as an Amazon employee to get away with WFH 5-days a week!