Get ready to send your Amazon sales skyward because special guest Wes Brasher is handing out all the tricks and cluing you into all of the misconceptions about selling on Amazon. Wes is helping you figure out how to get your data, what to do with it once you get it, and how to gain the most profound insights from it. Learn about how to drive your ROAS on Amazon, differentiate yourself among the staunch competition, and the best way to think about Amazon from the perspective of a seller.
Takeaways:
- One of the keys to finding success in the highly competitive channel of Amazon is to really focus on your niche. To do this you need a very defined set of customers, optimized content, and vigilant management of your return on ad spend.
- Your advertising costs can vary greatly from day to day and week to week. This is partially dependent on how successful your ad placement bidding is. It also depends on the ads you’re trying to place and the search terms you’re trying to advertise to.
- Don’t fall into the trap of thinking that you alone can easily launch a brand on Amazon and find success. Amazon is an entire e-commerce channel and there are too many facets of it that you need to be really good at to be successful.
- Right now, having products in stock that you are ready to sell is a major differentiator by itself on Amazon. This is another huge reason that investing in inventory is so important.
- It’s critical to get your brand recognized by Amazon through its brand registry process. This allows you to present more types of content and grants access to better service from Amazon, especially when trying to compete against resellers of your own product.
- During normal conditions, FBA is great for both sellers and consumers. However, it’s crucial to also have systems in place for FBM for when an emergency occurs, such as Covid-19. This allows sellers to continue to sell online through Amazon as a channel.
- Online advertising costs are rising largely because of a shift in consumer behavior towards e-commerce and companies trying to react to that by increasing their ad spend. The rising tide from companies increasing their online ad spend raises the cost for all.
Quote of the Show:
- “I think on Amazon, it's a day-to-day hand-to-hand combat type of effort” - Wes Brasher
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