Do you know why 99% of those who sell on Amazon Private Label fail and how the 1% stand out and make all the money? Amazon’s business model is a great way of developing a Private Label but does a great business model guarantee you success on Amazon as a seller too? Well, not quite much.
There is a lot that goes behind the scenes in the making of a successful Amazon seller.
AMZing Marketing Consultant will show you the success formula on how to make more profit at Amazon.
Getting right into it there are three main reasons why 99% of the people will fail with the Amazon Private Label Business.
#1 Not Testing Enough at Amazon
People are not testing products enough. They may have launched one product which did not do very well and they tend to quit after that. Saying ‘Well, I gave it my best, I launched one product and it did not get as many sales as I wanted to. So Private Label doesn’t work.’ And then they’ll go tell everybody that Amazon Private Label is dead. Woah! This is not the case.
Quote: “It’s very unlikely you strike gold on your first product although that’s what you hear all the time.”
That is exactly what gets people want to get into the Amazon Private Label business. People who are usually saying ‘ I jumped into Amazon Private Label business for two months and I made a million dollars’ are the ones who want you to get into get-rich-quick stuff. It doesn’t work like that. It can happen to literally 0.00001% of people but will likely happen to you? No!
People usually take on average two, three, four products before they turn into a success on Amazon.
So what you need to do is consistently test, keep pushing new products, keep trying new things and don’t be scared. What can be the worst-case scenario? If it’s not selling on Amazon just get it shipped back to you and sell it on eBay or put it on Craigslist. Just get rid of it and you’ll probably break even.
So not testing is the first thing that gets you out of the league.
#2 Not having Enough Patience To Try Different Methods
Patience can relate to a lot of things over the Amazon Private Label business. I believe the first thing is product research.
I know I have days where I’ve been doing product research, spending about 6 hours and I don’t find any one thing. So to give myself more of some mental relief I’ll find a product after these hours and hours of not finding anything and my mind will trick itself. It’ll be like you know what this is going to be a good winner. I’ll end up buying it but when I list it for sale, get it all set and ready to go, it DOESN’T SELL.
Yeah I knew it wouldn’t sell but I just was getting impatient and I rewired my mind to convince myself that this will sell, just so I’ll get myself relief from doing product research.
Quote: “You need to take your time researching products because if you spend a 100 hours and you get 1 product that brings you in $10,000, you just made a $100 an hour. “
Even if it took you a 100 hours to find that one product you made a $100 an hour – it’s TOTALLY WORTH IT.
In regards to launching your product, getting sales, getting reviews from it and bring it out to the front page – that can take a lot of time as well. As well as running ads doing automatic campaigns or manual campaigns, trying to find high converting keywords, figuring out what’s profitable.
It’s a patience thing. I’d say there is a million and one ways to make a million bucks, everything works, but you just have to invest your time into one thing and just let it payoff. Everybody sees the outcome but nobody sees the journey.
You guys see where I am and what numbers I’m making but you didn’t see me working 50 hours a week. You don’t see me coming home and working 5 hours a day on Amazon just trying to build this business.
So patience is a major major key.
#3 Terrible Marketing Practice
Terrible business practices are not knowing how to use Amazon formula and strategy effectively. You could have a really awesome product and the product could even be selling amazingly on Amazon. But if you create your listing and you do not have a clue about proper keyword research, how to write a very captivating title and how to do awesome quality images, you’re not going to compete with these guys.
People literally have teams that work for them to do the product photography, competitor keyword analysis, product research and create an awesome lising.
It’s not like eBay, where you can find a product, take a picture of it, write a little something about it and then it can sell. Amazon is way way more. It’s basically an online Walmart. It’s a humongous market place and you need to stand out from everybody.
If your product numbers are amazing when you do your product research and it hits the market but it’s not selling and you don’t know why. It’s probably your listing. If it’s not your listing, it’s probably your product.
90% of the time when you are not making sales on Amazon it’s because of your product. A product will literally sell itself but you have to have an amazing foundation for it. Having a great business practice and having a great Amazon strategy will help you succeed on Amazon.
The 1% of the guys are the ones always testing, always launching new stuff, being patient and have the best business practice. Patience being the key especially when you are getting your product shipped to you, then getting it shipped to Amazon, and ranking it to the front page.
It’s been over a month and I’m still working on products and I haven’t yet hit the front page. I have ten new private labels that have hit Amazon’s warehouse and I’m waiting for them to rank slowly to the front page on Amazon. It takes time but you have to baby it. Once it hits the front page, you just have to maintain it and IT’S A DREAM. Even if you happen to slip it’s not that bad. It’s a journey getting there and like I already said it’s a journey that a lot of people don’t see.
The 1% have a lot of practice and they have been doing it for a while. You can learn as much as you can online but when you start spending your own money, taking your time, creating your own listing, seeing how the numbers work and split testing everything only then you’ll really really really start to get the insider’s knowledge. Insider’s knowledge that I can’t personally teach you because you have to do it for yourself.
