Today I want to talk about a simple change in your account settings that can and most likely WILL increase your Amazon FBA sales with NO extra effort on your part! I’m talking about adjusting EXPORT settings which you can find in your account by going to:
Fulfilment by Amazon Settings
Shipping programmes and export settings
There you have an individual settings page for each marketplace you sell on and for this post an example I will use the Amazon.co.uk marketplace.
So first things first – do you have the setting ENABLED or DISABLED? If it currently shows DISABLED, you’re almost guaranteed to lose money on extra sales, on a daily basis.
But even if you have the setting ENABLED, follow next steps as it could be that you have not set it up correctly.
So, click on the EDIT button to access settings page.
There you have 3 options:
1) Domestic – means that export is disabled and you only offer your products to the local market.
2) EU 27 countries.
If your product has no restrictions on selling it in other countries (like food items, supplements that may require special certification, lab reports in each country etc.), you should have this setting set to Worldwide to reach as many customers as possible.
This year you will hear me talk A LOT about BRANDING as it is one of the key components to create a successful Amazon FBA business.
But is it enough to create a name, a logo and put it on the product? Is that what Branding is all about?
No, of course, it’s not. Branding is a much more complex topic, BUT for Amazon sellers, the first thing you have to deal with is the actual name and logo for their brand. And many people struggle with this a lot. They create brand names that make no sense, have no clear positioning, have bad logos etc. etc.
BAD branding can do you more harm than good. Yes, if you use just ONE brand name across many different product categories you can harm your business. Using the same name & logo for a make-up kit and a motorcycle bag is a VERY BAD idea!
Your brand needs to RESONATE with your target audience – and resonate positively. We all know that a 22-year-old woman who’s into makeup has an entirely different perception than a 40-year-old highway dude on a motorcycle, right?
And you don’t have to go that far in extreme examples – even if your target audience is the same, you do want to brand and market products entirely different based on what they’re. If you’re selling Organic Coffee, the branding will be different compared to a business selling Aquarium tanks, right? Good!
There’s a lot of misinformation about selling on Amazon floating around the net – that’s the price we pay for today’s advancement of the technology – everyone has an opportunity to say something about anything. And it’s all good. I wouldn’t be where I am now without the Internet.
The problem, however, is that often, such “free speech” opportunity creates a lot of NOISE, a lot of misleading information, wrong facts or misconceptions. eCommerce is no exception, and Amazon businesses are the hottest topic right now on YouTube where every man and his dog is trying to sell you something to make your Amazon business a success.
One of the MOST damaging misconceptions Amazon “gurus” portray and use is that Amazon FBA business EQUALS importing commodity products from China and branding them with your brand.
First of all, the term itself, Amazon FBA, is wrongly used – we all know what Amazon is but the FBA part is NOT an acronym for Amazon Business or Sell on Amazon, no! FBA stands for Fulfilment by Amazon. So if you read out the Amazon FBA phrase, it is: Amazon Fulfilment by Amazon
Which doesn’t make any sense?
But ok, it is what it is – everyone is using the term to describe “Business that sells on Amazon using FBA”. I also have adapted and now use the Amazon FBA term only because it’s what everyone has been taught to understand.
November—a record month for my Amazon FBA business with almost £30,000 in combined sales from the Amazon UK and US platforms! If it were 31 days in November, I would have safely reached that magic £1000-a-day or £30k-per-month mark. Arghh!
The vast majority of those sales came from the UK side of the business, which makes me even happier because last year, around this time, I set a goal to reach £30k in sales per month by the end of 2018, and now I have achieved it!
Well, not really. I know that these sales numbers are not sustainable and will go down after the Christmas shopping spree ends. We’ll talk more about that later in the video as it’s an important talk to have now, right before the New Year starts.
Things on Amazon.com took a big turn too. For several reasons, I’ve decided NOT to continue my aggressive ad spend and instead use the situation to test a different approach, something that may be more useful for those of you with limited budgets. We’ll get into the details of this in the Amazon US results section later. (more…)
Jingle bells, jingle bells, jingle all the way!!! Too early? I don’t think so! Judging by my November sales so far, it’s clear that people are already shopping for Christmas! Yes, the magical Quarter 4 has finally arrived, and hopefully, sales are booming for everyone!
However, this post is about October, and while this month is technically included in Quarter 4, I didn’t see any signs of that Q4 magic. In fact, compared to September, sales in October took a dip. This was partially my fault because I ran out of stock for a popular variation of my product for roughly ten days, which affected sales considerably.
Plus, it was the school holidays in October, and I always see sales decline during school holidays. Since the majority of my buyers are women—and many of them are mums or stay at home mums—when kids are at home, there’s not much time left for shopping.
Another factor is that I was on holidays too! I spent almost two weeks in sunny Tenerife, and that’s probably another reason why my sales took a hit. Why would that matter? The truth is: I don’t know. There’s no clear explanation to this theory, but I often find that when I take some time off, my sales go down. When I get back to the office, sales increase again. I know, I know. It shouldn’t be a contributing factor at all because I don’t actually do anything on Amazon when I’m in the office, but this is a trend I have noticed over the years. Call it karma or whatever you like—I still need to work to get those results!
Don’t get me wrong, I’m still very pleased with the sales in October, so I’m not complaining at all! Almost £22k is not a bad number. I’m happy as long as the monthly sales are higher than the previous year’s because I know that progress has been made. Plus, I’m even more excited to share the latest news on my Amazon US launch, so without further delay, let’s get straight into the numbers—and we have lots of them to cover today! (more…)
So, I bought a 3D printer! 🙂 Yes, after several years of thinking about it, I finally purchased a small, budget-class 3D printer. I wanted to thoroughly investigate this technology that everyone seems to be talking about, check out how good it has become, and figure out how 3D printing could affect the global business scene in the future.
A few years ago, when 3D printers were starting to become more and more popular, I instantly liked the concept a lot, and I could see that the potential for this technology would be massive in the future. At that time, I checked out a lot of YouTube videos on the print quality—and it was AWFUL! The individual layers of plastic were very visible, and the final pieces looked like they were handmade by melting plastic layer by layer.
In my mind, the quality of the final printed object is the NUMBER one thing the 3D printing industry needed to fix, and as you will find out later on in this post, they have done an excellent job in this regard over the last couple of years. Apart from quality, there are other essential factors to be considered—like speed of production, use of materials, complexity of models, etc.—but without a high-quality output, everything else is pointless.
Speaking of high-quality 3D printing, it entirely correlates with the current state of the VR (virtual reality) industry. I don’t own any VR devices, but the other day I stopped by Samsung’s demo for their Gear VR device and tried it on. I honestly didn’t know whether to laugh or cry. I can’t understand HOW so many people are currently using these devices…
The QUALITY and resolution of the output are HORRIBLE. So much so that I could not stand it for more than 20 or 30 seconds. It was THAT BAD! I haven’t seen a screen so pixelated and graphics so bad since my teenage years with my first Sega Mega Drive games (those actually looked better, as far as I remember).
I know that many people won’t agree with me, but the current VR technology is totally unusable. The resolution and technology are simply not there yet. NOT EVEN CLOSE! Plus, a large percentage of people who use VR in its current state suffer from the motion sickness when using it—and, unfortunately, I’m one of them. (more…)
Another month of EXCELLENCE has been achieved! 🙂 This was another record month for me with sales of more than £22k on the Amazon UK platform recorded for my FBA business. In my August income update, I shared my thoughts on how excited I am for the 4th Quarter, and it seems that, for me, it has started early since I’m already experiencing this boost in September!
It was like magic. Once August hit, my sales started to pick up, and by the first days of September, I could see that the month would be a good one for me! In fact, in the second week of September, it looked like sales of £1k per day would become the norm. Unfortunately, later on in the month, that momentum dropped off a bit…
Aside from sales, September was no ordinary month—it was also my one-year anniversary! Last year, on September 7th, I started selling this new product from a brand-new Amazon account and began sharing my journey with you via my monthly blog posts and videos. I’m very happy to report that the progress made throughout the year has been amazing! It could have been even better if the Amazon US selling experiment worked out, but, hopefully, that can still be fixed with the updated version of the product. We’ll talk more about that in the Amazon US segment later in this post.
Unlike other Amazon FBA bloggers and course sellers, I use my REAL-LIFE business as an example. It’s the exact same business that I openly share with my Amazon Sharks students. This is not a hypothetical business and it’s not an invented example of what could be possible—it’s a real business, selling real products on Amazon using FBA. I think it’s important to highlight this point of differentiation.
I don’t try to impress you with rented Lamborghinis and exotic holiday shots; I share an everyday, down-to-earth approach to the FBA business. The results I share can be achieved by anyone using my Amazon Sharks system since they are based on the reality of my business—not a fantasy! NO fake screenshots or photoshopped sales numbers from YEARS ago! All the information I share with you is factual, actual and 100% genuine. (more…)
Let’s talk about product packaging! Packaging is something that may sound super simple but actually carries many different challenges, rules and knowledge that you, as an Amazon seller, should be aware of if you want to create outstanding packaging for your best-selling Amazon product!
However, before we dive into the technical aspects, you might be wondering why custom packaging is so important? Is it important at all? Can’t we just go with plain, brown boxes that suppliers offer by default? Can’t we just skip using packaging at all?
You can, of course, do that. Many sellers don’t pay attention to this; they don’t think it’s important or they don’t want to invest any extra money on top of their product cost and everything else. But, if you ask me, that is a BIG MISTAKE!
I am personally a HUGE fan of custom packaging, and I always, always put extra work into creating the most attractive packaging for the product in a niche I’m working in—as well as making sure it’s practical, of course!
And it’s actually NOT that difficult to do because you will be outsourcing most of the work to a professional anyway. There are no good excuses to avoid doing this, so let’s take a closer look at WHY Amazon sellers with custom product packaging have a much HIGHER chance of winning that sale over someone who hasn’t put in any effort.
Why Does Custom Packaging Matter?
There are many important reasons why you SHOULD DO custom packaging for your product, including (but not limited to):
1) Visual Presence
I’m sure you’re already aware that people who shop online buy with their eyes. Logically, until we have more advanced virtual reality technologies, people shop online primarily by looking at images. They search for a product on Amazon, VISUALLY pick the one that looks the best (in their perception) from the search, click on that listing, and then possibly make the purchase. It’s all a visual experience, and it’s mostly based on product images.
Oh, don’t you just LOVE this time of the year!!! 🙂 The time of year when the kids go back to school and you’re lucky that you’re old enough to just be the driver or sandwich maker in the morning. YES! I don’t know about you, but for the most part, I hated being in school. I didn’t like it at all—well, apart from the partying and hanging out with friends. I was lucky enough to be born “smart”, so I didn’t have to put in much effort at all to sail through those school years. Looking back, I almost never did any homework and still, somehow, I magically made it through.
Anyways, back to the present day with my own kids, and I obviously look at the whole situation from a completely different angle. Still, in my mind, September is the clearly defined line when summer ends and the real work begins. These next four months in the lead up to Christmas are always the most productive for me—and the most exciting, of course! Anyone who is in the retail business is excited for the 4th Quarter because we all hope to break new sales records and end the year with tons of profit to splash out on unnecessarily expensive Christmas presents.
And this is the first FULL 4th Quarter for my new Amazon business—the one that I have been covering in these monthly posts throughout 2018, which makes me super excited! If you haven’t been following my earlier posts, you can find them all here.
There are three big reasons why I’m excited:
Starting from October, I will have the previous year’s sales data for comparison, so I can see whether or not I have made any significant progress with this business.
I have been extra careful this year. I have prepared double the stock amount I had last year. Hopefully, unlike last year, I will not run out right before the busiest shopping days!
I have two new Christmas variations of the product prepared, so I am hopeful that this will also help with sales and reaching a wider audience of Christmas shoppers.
And, of course, there’s ongoing work on the Amazon.com site too. The new product is in production right now, and I plan on starting to sell it in October. Even though it’s not a product directly related to the holiday season, I do hope that I have finally managed to crack the correct version and price point, but more on that in a moment. (more…)
I wanted to write a post about 3D printers this week, but we’ll have to leave that to another time. There’s something much more important and urgent to cover this week: Amazon’s brand-new Inventory Performance Index, the new storage limits, and some additional inventory-related news.
Judging by the latest inventory rule changes (like the introduction of long-term storage fees) and the other changes we’ll cover today, it seems that Amazon doesn’t want to be fully involved in the fulfilment game—apart from their own—or Amazon seller needs.
Why else would they introduce all these new rules and limitations, right? If they wanted to, they could just continue to build warehouse after warehouse (or continue to let their fulfilment partners do it), and then cash in on the storage fees. Then they wouldn’t have to worry about how much stock we send in or how long we keep it there, right?
Amazon’s storage fees are already several times higher than what you would pay to a standard fulfilment company, so the business should be very profitable, right? I mean, they currently charge more than £50 a month to store a pallet of goods! With standard fulfilment companies, that costs just £10 to £20! You could build a profitable business solely based on storing those pallets, regardless of whether or not the actual stored goods sell.
Anyways, based on these new inventory storage limits and the inventory performance index, it’s clear that Amazon doesn’t want to be purely in the fulfilment business. They want us sellers to be as efficient as possible with our inventory! The new stock management principle is, basically, Quickly In and Quickly Out! Which means that:
We should only send stock to the Amazon warehouse that we know we can sell quickly.
Using Amazon as a long-term storage facility is no longer a viable option.
And quickly doesn’t mean months anymore. Yes, as you will soon find out, in order to maintain a perfect score, Amazon actually wants us to turn over inventory in under 4 WEEKS! We’ll get to that detail in just a moment, but for now, just realise that the inventory game is changing. You will have to make drastic decisions in the very near future to stay compliant with these new rules and be able to use FBA services. (more…)