– What’s going on guys? So today’s video, we’re gonna be talking about the two biggest mistakes people make when selling on Amazon. Now I made this video with Dan so you will see him in here but there’s some good information, a little bit different than
what I’ve said in the past so, hope you guys found this useful and let’s get into the video. – Alright everyone so I have
Tanner here with me right now. He’s gonna cover two of the
mistakes that he sees a lot of people doing and his
own personal experiences. He’s gone through as well
that might’ve him cost him whether it’s hundreds
or thousands of dollars so Tanner, I’m gonna mute myself and just take it away. – [Tanner] Alright,
guys, so the main mistake I see people making on Amazon is not differentiating their products. Now, I have a product on the screen which is a prime example for
kindof both aspects of that, so they’re either going in there and they’re listing the same exact product so every single product’s the same, the only difference is
the listing or the price. Perfect example of that is the angleizer which I have up on the screen. You’ll see it’s changed a little bit but over the last couple months, it used to be all these yellow ones. They all look the same. They’re all plastic. They do the same thing and the only difference is the price. So you can see 5.99 here and 9.99 here and the whole first couple
pages were just this product, nothing with it. Now when I say differentiate, you can do a couple different things, you can bundle things together
so I could sell this ruler with maybe a tape measure
or something like that which you can do research
on and figure out yourself. I can make a slight change to the product and this is what you’ll see
now with the top sellers because over time, the best
products make their way to the top because they differentiated. You can see these are
aluminum angleizer tools which are all now mainly the top ones and you can see the price difference so a metal and plastic one
for buying them from China maybe a dollar or two difference per unit. They’re selling double or
two or two and a half times the price on average for just using metal, instead of the plastic right here and differentiating. And you can see this guy has
his own little custom box and added something to it
which is a carpenter pencil. So perfect example of bundling right here. Now I do know multiple
people that started this, maybe sold one or two a
day, had a lot of trouble, had to lower their price, 5.99, 9.99. There’s not really any profit there. Maybe a dollar or two. And it’s just a race to the bottom when you’re not differentiating. So I knew people who started this product and were maybe getting one
or two sales and struggling and then I knew one
person, two people actually that started the metal one
and were absolutely killing it in making more profit. Now again, that’s the only reason. The listings were both pretty similar. Everything was done the same. It was due to the fact
of them differentiating, making the product better,
or adding more value by either getting a metal
one, making it different, higher quality or even bundling
like this first listing here did so that is the main mistake I see people doing just throwing
up the same exact product thinking they don’t have to do any work and it’s that simple. You need to use your
brain to differentiate. I really enjoy bundling. I do that with a lot of my products. So perfect example with my students, it’s a make or break
thing, differentiating. So that is the number one mistake I see. Now the second mistake I see is tracking a product for a couple days to see how well the product sells. Now there is a website that you can go to that’s compleltey free. It’s camelcamelcamel.com
which is what I have up right now and you can take any product so let’s say I click on this
and check what the price has done over the life of the product. See if they changed the prices, if the sales changed, if it’s seasonal, so maybe spikes and sales
happen just in January, February or something like that so all I have to do is get the ASIN number over here, always starts with a B.0. normally and I copy and paste that and just take it in over
here to this website, enter it in. And I can see the price
history for this product. So he started at 14.49 and
kept it there entirely. And let’s see, we can see
when he started selling so this is a very new product. He started November 22nd of 2017 so very, very new product. Now as far as the sales
history, let’s see. Let’s let this load. It might not have been up for long enough. Let me see. Okay so we will need
to do a different one. But you’ll normally be able
to see the sales trends and see when it’s going up and down and one thing with that
is you wanna make sure the product has been selling well for a little bit amount of time and it didn’t just spike
up the last couple days or the last week or two. Now the reason you wanna make
sure that it’s not doing that is that people can do giveaways on Amazon and it makes it look like
they’re selling the product but when in reality, they
just gave a big giveaway and it kinda distorts the
data for the next 30 days because it averages out the sales so if I do a giveaway of 100 units and then start selling one a day, it’s gonna look like I’m
selling five, six units a day when in reality, I’m selling
one, I just did a big giveaway. Now, on this chart I just pulled up, you can see this guy’s been
selling since September 18th and this number right here is sales rank which is just correlated
with the amount of units they’re selling. The lower, the more units they’re selling. So right here, we see this
guy is way up here, 159, 176. Which is his low, which is very good. That’s probably 50 to
100 plus units a day. I’d guess around the 50 range. Then you can see he starts
to drop off right here and he goes all the way down to 82,000. Now what this can be,
sometimes you can see, it was kindof a 15 day
period and then he jumped right back up. He probably went out of stock here so, something to keep in mind. This would make me wanna
go check other products though and just make sure that they’re selling consistently as well. So just do this with probably
the top five to ten products. Make sure it’s one, not seasonal. If they’ve been selling
for multiple years, you don’t wanna see the data go, okay, September to December, they do great and then January and the
rest of the year, it sucks or same thing for summer so, just make sure it’s a
pretty consistent product. Now you might see things like this again if he runs out of inventory,
he’s not getting sales so obviously his sales rank
will go way up to 82,000 but he came right back which again, makes me believe he ran out of stock. So, those are gonna be
the two biggest mistakes I see on Amazon that will cost
you the most amount of money. – Awesome, thanks a bunch Tanner. Now I do have two questions in both the topics that you discussed. And I really wanna elaborate on those. Now you don’t have to
take like ten minutes to answer each one, just
you know, short, simple to the point answers are awesome so when it comes down to differentiating, is it hard to bundle products? Meaning is it hard to go out there and inside of Amazon, set up
some kind of bundle offer? – No, so, for as far as listing, it’s the same exact thing. It’s one listing, you
don’t create two separate, combine them together. It’s one listing and as far
as, the supply chain aspect of that, with suppliers,
usually, a supplier sticks with one niche so maybe they’re in sports and outdoors or camping
or something like that. They’ll usually have related products so like the angleizer,
I guarantee, most 99% of suppliers have that
carpenter pencil, as well. So you can usually just order them and they’ll package them together. You package them as one. You don’t send them separately. And it’s the same thing as one product, it’s just they’re together. So nothing throughout
the process is different. It’s still considered one product. – Okay, cool, awesome. Now, let me ask you, does it
have to be a major add on? Does it have to be something
so out of this world? – No, you want it to be
something very, very small. Like I said, they included a pencil. Probably cost them 20 cents a unit, probably, they can increase their price a couple, I think they were
a two or three dollars higher than the next competitor
who didn’t bundle. So spending 20 cents to
get a return of probably an extra 2.50, I’ll do that. You don’t want it to be something big, because you’re not trying
to have two products separate that you’re selling together, you want the main item and
then a small little bonus that’s like a free gift. – Right, right. – I’m selling this and this
and I just put em in one. – Yeah, I think you’re 100% right when you say the bonus. That’s really, that’ll really
get someone over the edge to take action, buy from your listing. So the other questions now, the other two, is tracking products for a couple days. You talked about camelcamelcamel, so how many products should someone track at one given time, because as you know, there’s a lot of beginners
that’ll come into Amazon at one given time. How many, and I know a lot of beginners, you work with a lot of beginners, a lot of beginners come
through the program, do they tend to, you know,
watch 50 products at one time and then you tell them,
come back to reality and watch five. What’s your formula to more so, how many
products you’re watching at any given time so
you’re not overwhelmed? – Are you talking about
like different products? – Yeah, well that’s kindof what I was, the second questions of this is do you let camelcamelcamel dictate
which product and category you go into, so those
are the two so, I guess. – I don’t let camelcamel really do that. But as far as watching products, I’ll watch kindof, let’s say it’s one, so the angleizer, I’ll watch
the top five or ten of those for about a week. If you’re talking about different, completely different products like a camping hammock
and then the angleizer, it’s just however many I find. I mean, I’m not gonna
have 50 I’m watching. I might have five to ten, and then choose the best one or two. But yeah, I usually
don’t have more than ten and if you do, then you’re probably including bad products in there. – Alright, cool. Well thanks so much Tanner for being here and giving your two biggest mistakes and helping people overcome that, as well so again, thanks so much. – No problem.


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