Exact System Behind Profitable Amazon Brands

Exact System Behind Profitable Amazon Brands Speaker 1: Where are you now? Maybe you're frustrated in your current job and looking to start your own Amazon business. Possibly, you're not making the money you need. Potentially, you're scared to take the leap of working for yourself. Perhaps you have an existing business and already selling on Amazon, but know you could be doing much, much better, just don't know how. Well, there are consequences to all of this, which means that you're still stuck doing the same old thing. You've not got the lifestyle that you desire or deserve. Your business, if you have one, isn't as secure or as profitable as it could be or possibly should be. You may even be concerned about the state of the economy and the cost of living crisis at the moment that you're worried how to make ends meet or how your business will survive, nevermind grow. So if that's where you are, where do you want to be? Well, just imagine a time when you have your own successful Amazon business. Picture yourself having the flexibility to work from anywhere. Think about having a system that generates income for you or your business day after day after day. Visualize yourself being more in control of your life whilst your Amazon business operates in the background. Well, you've got an opportunity today to make it all happen through the ultimate selling system, the secret to your Amazon success. And we're running this webinar today in conjunction with AMZScout. Now here at the AMZ Advice Center, we work with clients up and down the UK, across Europe and global brands. So for example, we're here with Richard, who is a manufacturing company based here in the UK, a global giftware client. We also work with global brands, the likes of Crafting Club, selling in marketplaces all over the world. And of course, we work with individuals, possibly like yourself, who look to start an Amazon business completely from scratch. So Mayer here, for example, we helped him through our one-to-one training program. And after just a couple of months, Mayer was achieving over 100,000 pounds in sales. And as I say, we work with individuals and companies up and down the UK, across Europe and the US, all in different types of products, in different types of categories. So welcome, welcome to the webinar today. Now we've got many of you with us on the webinar and what I'd like to know is if you'd like to be generating serious sales on Amazon. And if you would like to be generating serious sales on Amazon, just type yes into the chat box. Chat box here on the right hand side of your screen. So just type yes into the chat box if you're looking to generate serious sales on Amazon. It's good to see a few yeses in there, looking good. And what I'll say again is type yes again, if you'd like to find out about the ultimate selling system. So yes, if you'd like to be generating serious sales on Amazon, and then yes again, if you'd like to find out about the ultimate selling system. Okay, looking good guys, a good few yeses in there, which is nice to see. A couple of yeses from the same ones as well, which is great. So that's yes for both, which is brilliant. So this is the ultimate selling system and the secret to your Amazon success. So let's take a look at it and let's look at the ultimate selling system now. So it's my proven seven stage system, which consists of source, setup, skills, stamp, Social and finally, scale. So today, we're gonna be looking at a few vital stages of the system to help you to achieve your Amazon success and help you to achieve your sales targets. So we're gonna take a look at, first of all, at stage one, which is source. Now, this is all about finding the right products for you to sell on Amazon using my very own stress-free product sourcing solution. So you might have guessed it, source is all about sourcing products to sell on Amazon. Of course, if you already have a business and your own products and you just want to sell these on Amazon, you will still find this stage very valuable, I'm sure. For example, you may decide to identify and sell other products alongside your current products that you're already selling on Amazon. For some of you though, you'll likely be starting completely from scratch here with no products to sell just yet. And having the right products to sell, of course, is vital to your Amazon success. Now, when we're talking about sourcing products to sell on Amazon, we're talking about sourcing products to sell on Amazon through what we call FBA. So for those of you who aren't aware, what is FBA? Key terms here, what is FBA? Well, whenever you see a product on Amazon that is fulfilled by Amazon, that means that the seller is using the FBA service, the Fulfillment by Amazon service. How does it work? Well, once you've sourced your products, you upload your listings onto Amazon, you ship your products to Amazon's fulfillment centers, and when the center receives your inventory, Amazon scans and catalogs each item, records its dimensions and places it on a shelf. Your listings then become available and when your product sells, Amazon employees, they pick the item off the shelf, pack it up, ship it with tracking and handle customer service and returns on your behalf. And Amazon takes its commission and you get paid. A pretty impressive service. So how much does it actually cost to use FBA? Well, fees vary depending on the size and weight of your item. Typically, small lightweight products means lower FBA fees. So just as a little example, let's say we were looking to source teapots to sell on Amazon. As I say, the FBA fees do vary, but just an example, based on the size and weight of this particular product, we'd be looking at a £2.55 teapot. FBA fee just as an example to get an idea. So smaller, lightweight products means smaller, typically smaller, lower FBA fees. Customer benefits of FBA. Well, customers are eligible for Prime, free next day delivery in a lot of cases with their Prime membership. Amazon distributes your products for you. So there's no need to head down to the post office or wait around at the end of each working day for the courier to collect your products. I used to do this every day when I first started selling on Amazon, probably going back around about 10 years ago now. Your time is freed up to take care of the marketing side of your business and making sure you have enough products in stock to meet demand. So do you have to use FBA? No, you don't. You can ship your products yourself using your own chosen courier if you want to. For example, I work with a lot of existing businesses such as manufacturers and distributors who are already selling online and are already set up for distribution. So sometimes they choose not to use this service and do the shipping themselves. Now, if you're new to the Amazon game, which some of you will be, and wanting to build a lifestyle as well as a business, FBA just makes sense. Let Amazon do the fulfillment for you and you simply manage your business from anywhere from your laptop. So, I'll also say that I love FBA as it helps to limit the risk to your business as well as free up your time because Amazon handles all the customer service and the returns on your behalf. Now, important to note, when using the Fulfillment by Amazon service, this means you are simply using Amazon's Fulfillment service to ship your products out to the customers. Amazon are not actually physically buying the products from you. You still naturally need to invest in stock. You will technically own the products, but when an order comes in, Amazon picks the product off their shelf and sends it to the customer. Amazon takes their fees and then you get paid. So that brings me on to another important point, the buy box. So on Amazon, there's something called the buy box. Now, it's very important that you know what the buy box is before you start selling on Amazon or even look for products to source. So the buy box is the add to basket section you see on any Amazon listing. So for example, if I head to amazon.co.uk or let's say amazon.com if you're based in the States and say, let's search for TVs. I'll be presented with the results from the search. And just an example, I will click onto this one here. I'll be presented with what we call the product listing. So we refer to the actual listing on Amazon just when you click onto any product as the product listing. And on the right hand side of the product listing, you'll see the buy box. Now that is the add to basket section and that there is the buy box. The usual add to basket section I'm sure you'll be familiar with when you're shopping on Amazon. So only one seller of the exact same product can actually win the buy box. And you can see which seller has won the buy box just underneath the answer basket section. So you can see the company name just underneath the answer basket section. In this example, the product is dispatched by Amazon, which means the seller is actually using the FBA service, the fulfillment by Amazon service. But underneath the buy box on any Amazon listing, you will see how many of the sellers are selling that exact same product. So just underneath the buy box, the add to basket section, you can see underneath how many other sellers are selling that product. And in this example, there are 21 other sellers selling this exact same product. And they are all for what we call competing to win the buy box. And it's important to know only one seller can actually win the buy box. The 21 other sellers are still selling their product on Amazon, but they're not as likely to get the sale because as you know, when shopping on Amazon, you tend to find the product you want, you click add to basket, and that would mean the seller who has won the add to basket, the buy box, would actually get the sale. So I'm thinking, how do I actually win the buy box? Well, a key factor, but not the only factor, is the price of your product. How much are you selling the product to the customer for? If you're selling the exact same products as other sellers, then you'll find yourself in a price war, i.e. constantly lowering your price to try and win the buy box. Now we'll talk more about the buy box later on, but it's just important you understand for now what it is and how it all works. Remember, it doesn't mean you're not selling on Amazon if you're not winning the buy box, but you're not as likely to get as many sales. So that brings me on to methods of selling on Amazon. Now I'm sure many of you here today will have done the usual YouTube searches looking at sellers selling on Amazon and lots of how-to videos and that type of thing. Now it's important to note that there are different methods of building an Amazon business and I'm sure you'll find lots of contradictory information online. So let me clear that up for you now. So there are four main ways to sell on Amazon. There's wholesaling, there's retail arbitrage, Dropshipping and then there's private label. So let's have a look at wholesale on Amazon first of all. Now, wholesale sellers source other people's branded products through typically local wholesalers. So for example, wholesalers here in the UK or in the US or wherever you're based and sell those goods on Amazon. So this is one method of selling, but typically profit margins tend to be quite slim and Amazon policies are getting stricter, which means it's not always Easy to sell other people's brands without formal approval from the brand owner. Retail arbitrage. Retail arbitrage on Amazon involves buying products at a lower price from retail stores, such as clearance sales, and reselling them on Amazon for a profit. Sellers search for items priced lower in physical stores or online, then list them on Amazon at a higher price. This method requires finding good deals, selling other people's brands and setting competitive prices. So another method of selling, but typically profit margins do tend to be quite slim. And as I say, Amazon policies are getting stricter, which means that it's not always easy to sell other people's brands without formal approval from the brand owner. Dropshipping then. So dropshipping on Amazon is where sellers list products for sale without holding any inventory. When a customer places the order, the seller purchases the product directly from a supplier who ships it to the customer. So this model eliminates the need for upfront inventory investment, but Amazon policies are becoming stricter, as we say, with this method of selling. And again, it's not always easy to sell other people's brands without formal approval from the brand owner. So that brings me on to private label. What is private label then? So private label products are manufactured by a supplier and are then rebranded with your brand and logo. As the brand owner, you can then specify how the product is packaged and ensure that your brand and label are included on the product and or the packaging. Now we find private labeling to be the most lucrative way of selling on Amazon. And this is the method we focus on using the ultimate selling system. Unless of course you're already an existing business manufacturing your own products to sell on Amazon, meaning you've already got your products ready to sell, which is great and a fantastic starting point. The main advantage of private label over say wholesaling, retail arbitrage and drop shipping is that the products are yours and belong to you. You own the brand and you won't be competing with anyone else selling the exact same product, therefore not competing for the buy box with other sellers. So instead of buying, for example, Duracell batteries pack of four from wholesalers, I could contact a battery supplier and ask them to brand their batteries with my own brand and logo. And have my own branded products. Here we are, Halix's amazing AA batteries. They are simply the best. So the branded product is then unique to me and I'm not competing with other sellers. Therefore, I'm not competing with the buy box. More upsides to private label? Well, the products will be branded with your own brand, so you'll have much more control over your Amazon listings. What I mean by that is how they look, the text, the images, everything you see on the front end of Amazon. And this is one of the secrets to your Amazon success. So this is something you often don't have control over when you are, say, wholesaling products, for example, because as we say, you don't own the brand. You can use FBA, Fulfillment by Amazon, so that Amazon can do all the fulfillment for you and free up your time to manage other areas of your Amazon business. Many suppliers as well are already familiar with the private label process. So if you do things right and source the right products, your profit margins can be very lucrative as well. A few downsides, well, capital is required to purchase products and there are often shipping costs involved to ship products directly to Amazon, typically from overseas suppliers. You'll need to market your products effectively because in the beginning, you would likely be selling a brand that nobody has heard of, for example, your own private label brand. There are risks to consider, such as making sure you work with the right suppliers, making sure you have the right to sell your chosen product as well. That being said, private label, for me, is still absolutely the way forward on Amazon and where we see the most profitable sales for our clients. So here's the secret I'm gonna share with you here today. Private label is your secret to Amazon success. So let's jump into it then. Let's jump into training time. As we said, we have different levels of understanding with us on the webinar today. Some of you are completely new to Amazon and others will have been selling for a while. Now, if you're an existing seller and been selling on Amazon for a while, you might feel that now is the right time to seriously grow your business. Now, in order to create a successful Amazon business, I firmly believe that you need to follow my very own ultimate selling system that I've developed based on many years experience of selling on Amazon and I see some incredible results from our clients who use it. So we've got clients achieving sales from a few thousand pounds a month on Amazon and I've actually got clients achieving up to 350,000 pounds a month and more in some cases. But for new startups, it takes time, there's no doubt about it. But with the right training and support, we can get you there quicker. But before we get started, it's so important to have a think about what you want to achieve here from your Amazon business. So very shortly, I'm going to ask you to note down exactly what you want to achieve in terms of profit for your business and in terms of sales for your business. So let's look at how to work this out now. Now, if you have any questions, just pop them into the Q&A. There's a Q&A on the right hand side, just within the chat, and I'll address those as we go as well. So, what do you want to achieve here? Well, when working with a new client, a complete beginner, starting from scratch, we try and aim for what we call a 30% plus net profit margin on Amazon. So what's a net profit margin? Well, a net profit margin is the profit, i.e. the percentage that you're left with after you deduct your business costs from the sales price. So just as an example, it's the sales price of your product minus the unit cost, minus any shipping costs, minus any Amazon selling fees and your FBA fee as well, which is treated separately. You have Amazon selling fees, which is typically a percentage of the product that you sell, usually around about sort of 15%, that sort of area. And then your Amazon FBA fee on top of that, if you choose to use the FBA program. And that leaves you with a net profit in terms of sales pounds or dollars and a net profit margin percentage. So for example. Just as an example, as I say, sales price of the product, 20 pounds, minus the unit cost, let's say it's seven pounds, minus the shipping costs that you've worked out per unit when you've been discussing with your supplier, minus Amazon selling fees, in this example is three pounds, and minus your FBA fee based on the size and weight of the product, leaves us here in this example, a net profit of six pounds with a healthy net profit margin of our target, which is 30%. So if you're looking to achieve let's say £45,000 in profits or $45,000 in profits in your first year of selling on Amazon, you would need to achieve sales of around 150k. So how do we work that out? Well, it's the profit you want to achieve. So for example, 45K divided by the profit margin you want to achieve. As we said, our target is 30 and then times that by 100. So take the profit you want to achieve, divide it by 30 and times it by 100 and that will give you your sales target. So if you're looking to build a million pound business, then great, set those as your targets. Or maybe you're looking to build a side business for now and want to set much smaller targets, either way is absolutely fine. I've shown you based on client results what's possible when it comes to selling on Amazon, but it's of course important to be realistic as well. So here's your first exercise. And as I say, if there are any questions, pop them into the Q&A, I'll try and address these as we go. But if you note down what you want to achieve in profits, either in pounds or dollars, wherever you're based, over the next three years, we're building a real life business here. So if you've got a pen and notepad, brilliant, or use the notes in your phone. But importantly, if you could have your calculator on your phone ready, that will make this really handy to set your sales targets as well. So if you have the calculator on your phone ready, that would be absolutely brilliant. And let's do this exercise together. So have your notepad ready and have your calculator ready for this. So let's call this your Year 1, Year 2 and Year 3 figures. And if you do have a notepad and pen, I would actually write this down. I would say, I want to achieve the following in profit. I want to achieve the following in profit. And then write down year one, year two and year three with your targets, your profit targets. So what you want to achieve in profit for your business over the next three years. I put down a few examples here. So year one, I want to achieve 45K. Year two, I want to achieve 100K. And in year three, 150K. Just targets as an example, you can set your own from here now as well. Just jot those down for me if you would. So take your year one profit target. Let's take that now. And what we're going to do is take the profit you want to achieve. Divide it by 30, which is our target profit margin and times it by 100. So in this example, 45K was what I wanted to achieve in year one. So 45 divided by 30 times by 100 gives me a target of 150K in sales. So now write that down next to your profit margin for year one, your sales target as well now. So 150K was this example. If you write down your target there now as well, your sales target. Profit you want to achieve, divide it by 30 and times by 100. And if we could do the same for year 2, that would be brilliant as well. So profit you want to achieve, divide it by 30 and times by 100. I said I like to achieve 100k in profit in year 2. So my target in sales is 333,000 for year 2. And finally, year three. So profit you want to achieve, divide it by 30 and times by 100. So I said I'd like to achieve 150,000 in year three. 150 divided by 30 times by 100 gives me a target of 500K in sales. Now what we typically do with any new client is we would follow that exercise, year one, year two, year three, you know your sales, you know your net profit and you know your net profit margin as a percentage there as well. So it's very useful to have these figures written down when and even before we start looking at sourcing products or even before we start looking into the ultimate selling system. Know what you want to achieve for your Amazon business because this is a real life business. So it's incredibly useful to have this information and know what you want to achieve before undertaking your product research. You can then base your product research around what you're looking to achieve from all of this. So let's dig a little deeper into product sourcing. Let's take a look at the product sourcing solution. Your answer to sourcing your products to sell on Amazon. So as you might imagine, typically one of the questions I'm asked by those who start selling on Amazon is, Alex, what product should I sell? Well, let's look at a valuable tool to help you decide. And here it is, it's the stress-free product sourcing solution that we use to help us with this. And here is the stress-free product sourcing solution. So I like to call it the PSS. The Product Sourcing Solution is all about scoring potential product ideas out of a maximum score of 100 to give structured, well-thought reasonings for choosing your new Amazon products. With a score of 100 being the best possible product you can sell on Amazon. So what we do here is research and identify possible products based on a number of key factors, which are vital to achieving Amazon success. Now, many of you will have a product idea already, and if you do great, that's going to be your starting point here. If you don't have a clue about what products to sell on Amazon just yet, then there are a few places you can start. So just as a general starting point, you could head to Amazon.co.uk or Amazon.com if you're based in the States. Wherever you're based, head to your local Amazon marketplace and take a look at the Amazon bestsellers page. It's a good, interesting starting point. So at the top of Amazon, you'll see the bestsellers. And the bestsellers look a little bit like this here. And it's important to know that on Amazon, there are parent categories and there are also child categories. Parent categories include areas such as garden, for example, big, big categories, big categories, bold categories with thousands of products in. So on the left hand side there, you'll see the parent categories. So for example, garden is a parent category. And then we can narrow them down further into what we call child categories. So I've clicked onto garden and I can see the child categories there now on the left-hand side. So click onto garden into the child categories and then you can go down a little bit further. So you can keep narrowing down the child categories then from the parent into the child categories. So we've gone to garden, bird and wildlife care, down into birds and then we might even go further into feeders. We've narrowed it further and further down. So child categories are much more targeted and specific with fewer products in. And if you take a look at these child categories, it's just one way you can generate some product ideas to research further. We're looking at sort of an idea generation process here, just looking at the bestsellers, having a look at the parent categories, narrowing down into the child categories to generate some ideas. So let me just show you now here as well. Just using Amazon.co.uk as an example, you could use Amazon.com if you're based in the States, just the usual Amazon. We're on the bestsellers, which we access here at the top of Amazon, just click onto the bestsellers. And over here on the left-hand side, we can see all of the parent categories here. So let's just choose one of the parent categories. Pet supplies is a great category in our experience. So we click onto pet supplies and we narrow those down then into the child categories as we said. So let's just take dogs as an example. And from there, we might want to go to clothing and accessories. And then it gives us a number of different ideas that we could search here. So as you can see what we're doing, we're going from the parent down into the child and it's sort of an idea generation process. And let's have a look at hats, dog hats. So we've narrowed it down there from the big pairing category, loads of different products in there, but obviously very popular, could be quite saturated in some of those as well. So we've narrowed it down as far as we can get to into a child category to give us a whole load of ideas. And dog hats may just be that one product that we might look to source, but we're going to use the product sourcing solution, of course, to tell us whether this is an appropriate product to source. Just one example to have a look at the best sellers on Amazon. We can use the Amazon Best Seller, just one idea to come up with ideas of possible products that we could use to import into our product source and solution. And that's what we're doing, just coming up with a few different ideas, something a bit unique, something a little bit different. And of course, we can use AI to help us with that as well. And just using the standard ChatGPT can help us to develop product ideas. So are you using ChatGPT at the moment? If not, you should be. It's basically artificial intelligence that speaks to you like a human. So ChatGPT, you can ask it questions, you can give it prompts, et cetera. So it can be completely free to use and one thing it can help with is giving you some product idea generation, stress-free. In fact, it can also be a lot of fun as well. So let me just show you ChatGPT there as well. So if you're not familiar with ChatGPT, it probably looks a little bit underwhelming, but let me tell you, it's an absolutely powerful tool and many of us are using this just for our daily lives now. You might be using this to create gym plans, you might be using this to help you with recipes day to day. What it can do is it can also help you with your Amazon product research. So just one prompt you could give ChatGPT, just something like, give me 10, Product ideas to sell on Amazon. Something as basic as that to get the process started. Look at ChatGPT as your Amazon selling assistant. Someone there to assist you throughout this whole process. So what ChatGPT can do is it has access to all sorts of data. Very, very powerful. Very powerful. As I say, it's artificial intelligence and speaks back to you like a human. And what we're looking at here is 10 possible products that you could input into your product sourcing solution. So silicon air fryer liners, for example, reusable ones, magnetic spice jars, a cable management kit, a pet hair remover roller, interesting one, LED motion sensor nightlights, resistant band sets, car interior cleaning gel, Posture corrector for desk workers like ourselves, travel packing cubes, ice face roller, loads of different ideas here that we could potentially, potentially sell on Amazon. And one of the great things about ChatGPT is it remembers your previous prompts so we can keep going. We don't need to create a new chat each time. So we can get a little bit more advanced as we go through things. So give me a product idea. That I could sell on Amazon.co.uk and help me to achieve 45k in profit in year one. So we can get more and more advanced with ChatGPT, as I say, because it remembers the conversation. It makes it a very powerful assistant you could be working with when you're building your Amazon business. So the one it suggested is the premium silicon air fryer and it'll give its reasons why as well. So massively popular here in the UK, already proven for sellers on Amazon as well. Thousands of reviews on some of the listings. We're gonna look into this in a lot more detail later with the PSS, but it just gives us some really useful information and it should hopefully help us to achieve that target of 45K, as I say, with the reasons why and how it will help us to achieve that as well. Based on the profit and how many units we'd have to sell each month in order to achieve that 45K profit. So really powerful stuff. And as I say, if you're not using ChatGPT at the moment, you absolutely should be, but use it for your Amazon business as well, alongside All of this that we're going to be looking at today. So a great way to trigger ideas for products to put into the PSS, into the product sourcing solution is ChatGPT, of course, as well. What we then do is take one of those ideas and we start using the PSS, the product sourcing solution, to score your idea out of a maximum of 100. So your product idea is scored against each of these key factors, and the total gives you a score out of 100 to guide you in your product sourcing decision. So the product idea is scored against each of these key factors, and the total gives you a score out of 100 to guide you in that product sourcing decision. The closer to 100, the more likely it will be successful for you. So stage one on the PSS is to research the number of searches for your product idea with a maximum score of 25. To research the number of searches for your product idea, how many people search for that product idea on Amazon. Now we do this using keyword research tools that identify how many people are searching for that type of product on Amazon itself. So, the tool we use is AMZScout. So, AMZScout has a web app. Now, you have to have an AMZScout account to do this. Very, very powerful tool. Lots of resources within AMZScout. Now, one of them is the keyword research tool. Really, really powerful and helps us with this area of the PSS throughout product sourcing. So, once you're logged into AMZScout and you have an account, keyword and listings up here at the top, and we head to the Amazon keyword search. Now, from there, we can search for our product idea. So we're looking, in this example, I've used a dog litter tray. Just an example, it was one that ChatGPT suggested to me earlier. And we can see the related keyword searches for a dog litter tray here on the left-hand side. And importantly, we can see the estimated monthly search volume, how many people search for that product idea on Amazon. And in this example, we're getting about 4,000 searches for this particular keyword or phrase. So really powerful stuff and it gives us an idea of the demand based on how many people are searching for that keyword or phrase and that is our Amazon Keyword Search tool available within AMZScout. So keywords and listings and then Amazon Keyword Search there. The way that we work this out is based on the number of searches. So typically we say if that product idea has under 500, we would typically say that's very low, that's a low score on your PSS. If there's 500 to 999, we'd say that's low. So round about a five on your PSS. 1,000 to 5,000 is relatively okay, about a 10. It's based on your best judgment there, based on how many searches there are. 5,000 to 10, good. 10,000 to 30,000, very good. And 30,000 plus is typically excellent. The other way to interpret these numbers is to identify what am I trying to achieve with my Amazon business? So if you're looking to achieve a million pounds in sales, then 500 searches a month isn't gonna be enough. Clearly not enough demand for that type of product in order for you to achieve the sales targets that you've set earlier. And that's exactly why we followed the exercise of setting your three years sales targets for your business. Setting sales targets is an important part of any new business. Now, if you can achieve your sales objectives with just what we call a one product business, then that's absolutely ideal. In other words, you don't have to sell hundreds of different types of products on Amazon to achieve your targets. You've got one product, your own, private label, branded as your own, and it's a one product business to achieve the sales targets that you've set. That's absolutely ideal. So one product business is often a stress-free Amazon business. And I say often a stress-free Amazon business. So that's your first score on the PSS. Remember you're scoring your product idea out of a total, a maximum score of 100 and you do this for each product idea which is why we said right let's head to the bestsellers, let's head to ChatGPT, let's create some ideas, let's do some idea generation before we input those ideas and do our own research which is absolutely vital when we're actually selling on Amazon because we need to make those decisions Based on our sales targets. So this means researching the Amazon sales for your product idea with again a maximum score of 25 contributing to your potential total of 100. So the tool to use here is the AMZScout Google Chrome extension. AMZScout has a very powerful tool and it's the AMZScout Pro AI extension. So it's installed within your web browser and you must be using Google Chrome as your web browser in order to access the tool. So what we can do with Amazon is we can search for any product idea. So in this example, I've used the one that ChatGPT gave me earlier, which is a dog litter tray. I've searched on Amazon.co.uk, as I say, it could be the States, it could be Amazon.de. If you're based in Germany, wherever you're based, head to your local Amazon, usually your best starting point is your local Amazon marketplace and search for your product ideas. So, dog litter tray. And once it's installed, you'll see your extensions up here in the top right-hand corner. And as you can see, we're using the AI Amazon product research tool, which is AMZScout's tool. And this is absolutely fantastic data. Really, really, really important. And along the top, we can see based on the results within the search for dog litter tray on this particular page. We can see the average monthly sales in terms of units and the average monthly revenue in terms of sales, in terms of actual figures here. So on average, we'd expect to achieve somewhere around 5,700 pounds in sales per month, just average and it's estimated, but around that sort of level. So based on your sales targets earlier, when you're doing your searches, have a look at the average monthly revenue along the top, because that'll give you an idea of roughly what you might expect. What you can also do is you can have a look at this more advanced data below, which is the advanced data for each and every product within the search. So lots of really important areas to go through here, but some of the key areas are the estimated revenue per product. So for this one here at the top, this particular one, this one here, we're looking at estimated 50,000 pounds in the last 30 days on this particular product. So obviously it looks good, but there are a lot of factors to take into account here as well, which is why we look at the average typically when we're using the PSS. But of course, if we are looking to source a particular type of product, it's very useful to know what the competitor is achieving. So very useful to have a look at the estimated revenue here. But of course, when we're doing the PSS research, it's the average that we're typically using to use it in input into our PSS. We then score that product idea based on sales, again, out of a total of 25. 25 out of 25 being yes, absolutely, that product idea will help me to achieve my sales targets based on the estimated monthly revenue. So that's your second score on the PSS. Remember, you're scoring a product idea out of a maximum score of 100 here, and you do this for each product idea to try and identify your ideal products. Let's have a look at competition attractiveness. So here we're going to identify the number of competitors selling the same or similar products. And would you believe it, the tool to use here is AMZScout. So again, let me just show you here. So when you do a search on Amazon, once you've installed your AMZScout AI extension, when you do a search on Amazon for any type of product, it will naturally be presented with all of the products within the search. But down here in the bottom left, you'll see a score. And if you click onto that, that is your Google Chrome extension, your AMZScout Google Chrome extension. And it analyzes, again, all of the products within that search. If we just let it do its thing, over here in the top right-hand corner, we're gonna get an AI niche score here, which is very, very interesting. So AI niche score for this particular product idea, just as an example, again, we've used the dog litter tray. For this particular score here, let's click onto it. It looks as though it's gonna be seven, which is out of a total of 10 in this example on the AI niche score. And essentially the closer to 10, the more likely it's going to be a success for you. That's the idea here. Unknown Speaker: And 7 out of 10 there. Speaker 1: So this is based on a few different areas. It's based on profit, it's based on demand and it's based on competition. Remember, we're using the PSS here. We're now on competition. So this is kind of what we're basing it on here. Seven out of 10 is good, but the competition is medium. Obviously, competition being low is ideal. That's exactly what we're looking for, low competition. This one here is medium based on a few different factors. A few of them are very low quality listings. You can easily create the best listing of the product, which is good. Very few AMZ sellers, which means you're not gonna be competing with Amazon directly for sales, which is actually a good thing. A few reviews, which means you can get sales within just a few reviews, even better, and low average rating. You can quite easily make a product with better quality. So all good, key, important areas. If it was low, even better, but medium isn't too bad and we've got the reasonings why it's medium. Overall though, 7 out of 10. So it gives an idea of the competition by using the AMZ Chrome extension and the AI niche score within the Chrome extension there. For example, as we say, low competition, few competitors with no or very little product reviews, which means high score out of a total of 50. So you can see how important the product sourcing solution is. In fact, it's not just important, it's part of the secret to your Amazon success. You can see crucially how the scores for each of these stages have been weighted depending on their relative importance in adding up to the total potential score of 100 to help you to choose your ideal Amazon product. And you'll actually probably do this a good few times based on the ideas that you've generated through ChatGPT or the Amazon Best Sellers or just ideas you might have generally to help you to achieve this. You know, it's nice to have a good half a dozen ideas at least before making any further decisions. Sellers fail on Amazon because they don't do their research beforehand using what we like to call a systematic and hydramatic approach. In fact, many don't do any research at all, just pick a product and they're often the ones who fail at the first hurdle. So let's take another look at a key area of the ultimate selling system. Let's have a look at skills now. So we're looking at skills using the game-changing skills formula. So this is skills you really need to know to help you to build your Amazon business. And here's the formula here. So let's take a look at optimization. That's O on the formula, optimization. Optimization is all about listing your products on Amazon effectively. Now you might think, well, this is the easy bit. Surely I just stick it on Amazon and the sales start rolling in. Well, there was a time when then maybe that was possible. Nowadays, to launch a successful product on Amazon, you need to optimize your listings. And that means, Your product needs a perfect product title, some brilliant bullet points, a detailed description and some incredible images as well. So let me show you how to list your product in Amazon and how to optimize your Amazon listing. So what you need to sell, to physically sell on Amazon is an Amazon Seller Central account, Amazon Seller Central. That's how we as Amazon sellers, this is the platform we use to sell directly on Amazon's marketplace. And when it comes to listing a product on Amazon, it will look a little bit like this. So this is just one example here. So let's take the idea of, let's have a look at the dog litter tray that we were looking at earlier. So the first thing we do is we import The type of product that we're looking to sell. And from there, Amazon will find a category for us. Now, if it doesn't look like the correct category, based on the parent and child categories, you know, we were looking at earlier, which is what Amazon is doing here in this example, if it doesn't look correct, you can press Select Other and choose a more appropriate category for your product. But it is very important that you do choose the right category for your product because you don't want to be in a category where You're not being seen for the right search terms and all of that type of thing and not going to get you found in a search. So really important to choose the right category when going through the optimization process. So in this example, we'll confirm that one because it does look around about the right sort of category for this one. Then what we can do is go back and actually optimize our item name. So it sounds like it's cheating a little bit, but we can use our old friend ChatGPT to help us with optimizing our item name. So let's say we're looking to sell our dog litter tray. We can usually just have ChatGPT open at the same time, which is very handy. Let's open up a new chat up here on the left-hand side and let's tell ChatGPT that we are listing Our new product on Amazon, Dog Litter Tray, and we'll come up with a brand, which is our brand name as well there. So just letting ChatGPT know what it's all about, and then they're going to help us to develop a powerful item name that's optimized and ready to go. So create an optimized item name for my listing and there we go. So just to give us a little bit of an idea, copy that one in there into our item name and there we are. So we've got our brand name first of all, typically I go space dash space, so brand name followed by The product name and then another space dash space. And typically I would include three to four keywords or phrases separated by comma. And we can use AMZScout's keyword research tool to help us with that, which is very powerful. If you remember, that's keywords and listings up here at the top within amzscout.net. And then down to Amazon keyword search here. So three to four keywords or phrases separated by comma. ChatGPT is quite useful, but it can't read the Amazon product data that AMZScout can, which is what makes AMZScout so powerful when using the keyword research tool. So three to four keywords or phrases that we could copy and paste directly from here into our item name here on Amazon Seller Central when listing our products. Now, another thing that AMZScout can do is really, really good is the reverse ASIN lookup. So underneath keywords and listings, we've got the reverse ASIN lookup. So when you are going through the optimization process within skills and the ultimate selling system, I'd often suggest you use the reverse ASIN lookup by choosing your top competitors. We know the ones that are generating the most sales because of the Chrome extension. And inputting those competitors into the reverse ASIN lookup and then what AMZScout will do is tell you the keywords they're using in their listings, which is brilliant, absolutely fantastic. So we can take those keywords and input those into our item name. And the idea is that these are keywords that are searchable, so that your product is going to be found in a search for lots of different top performing keywords or phrases. So that's our item name. We're naturally going to have our brand name, which is hopefully going to be our private label brand name. And you'll have a product ID as well, barcode for your product, which is something we can look at directly with you as well. Along the top, you can see all the different tabs, which is the key areas that you need to include when you're listing and optimizing your product listing. ChatGPT can be there as our sort of personal Amazon selling assistant alongside AMZScout with the powerful tools that they have there. And can help us with writing a description, writing our bullet points, and of course, uploading our really nice looking images. We can do all of that from these tabs along the top. The golden rule is if anything is highlighted in red, that's a required field and Amazon do require it. If it's not highlighted in red, just think, would it help the customer if I included that information? So if it's highlighted in red, include it. If it's not, would it help the customer if I included that information? So, really important part here is optimizing your Amazon product listing. Keywords is a big part of the optimization process. Of course, the images as well, because these days we know what it's like. We just use typically our phones on the Amazon app. We search for a product. We click on the one we'd like, swipe through the images. And that's a basket. That's typically how most of us search these days. So making sure that your images are very powerful and they have text on them and actually show the product and display the product key features and benefits is very, very important. So just an example of images here on the left hand side, you can see how this seller has included great looking images. And these are what we call infographic style images, where we take the key product features and include them in text on the images themselves. Really, really powerful. So premium ingredients, vegetarian, made in the UK, recyclable packaging, take that key information and actually put it in text onto the images themselves. So we can get customers there with all the right keywords and phrases in our title, which is the one we were just looking at there. But once they're there, it's the images that help sell the product. The first image must be on a clear white background or the other images we can have a bit of fun with and we can make sure that we've got those key selling points within the images as well. So that's optimization. Let's take a little look at reviews as well. So we all know what I mean by reviews, right? Those reviews most of us take a look at before buying products on Amazon. So using the same example here, looking at the reviews, this is what I mean here. The one to five star rating you see on every Amazon product listing. Now, one of your aims as a private label seller launching a brand new product from scratch is typically to get to 10 reviews initially. 10, hopefully, five star reviews because you've got such a great product, great quality, and you've got 10 reviews that sort of kickstart things initially. But these reviews are really, really important and typically the more reviews you have, the more better reviews you have, the better you're going to rank in Amazon searches for the right keywords or phrases, leads to more orders, places you're higher up in the rankings when more orders come in, leads you to better reviews. So really, really important. And one area we can sort of look at when you first launch your own private label product on Amazon through what we call FBA, through the Fulfillment Program, is we can look at what we call Amazon Vine, which is basically giving away products in exchange for reviews. One thing we can look at to help get those initial 10 reviews. But of course, the more reviews you have, the more likely you are to rank better in Amazon searches, more positive reviews anyway. What can we learn from competitors' reviews? Well, competitors who are obviously doing something right. There's no point reinventing the wheel. Learn from the good reviews. What did customers like about the products? And learn from the bad reviews as well. What didn't customers like? We don't want to make the same mistakes. Maybe customers said they loved the soap dispenser but wished it came with soap included. Is that your opportunity to supply both in one unique way? So ads are one way you can get more sales coming in when you first launch your private label product on Amazon. And nine times out of 10, we do suggest we run these ads, these sponsored ads, these what we call pay-per-click advertisements. So they can be a very good tool to help generate sales and they can hopefully help to meet your sales targets as well. So how much do I need to invest in ads? Well, try not to think of ads as a set advertising budget. If you're working to a 30% plus net profit margin, then that should hopefully be enough for you to run these PPC ads, pay-per-click ads. And still be generating a good profit on your products if managed correctly. So you can do all the right things when it comes to listing your product on Amazon. You can optimize your listing in the correct way. You can get some great product reviews, but ads help take your business to the next level and help you to achieve your sales targets. So these PPC ads, these pay-per-click ads, for me are an incredibly important tool to get right if you want to become a successful Amazon seller. Now if you're not familiar with them, let me just quickly show you here. So again, I've just searched on Amazon. Just in this example, I've searched for a notebook just on the usual amazon.co.uk or amazon.com. And what you'll often find, and it's easy to miss when you're shopping on Amazon, what you'll often find is that you'll see some products have sponsored next to them. Now these are pay-per-click advertisements and this means that the seller is using sponsored ads to get seen right at the top of the search. So as I say, one way we can get that is by Using these sponsored ads. Over here is the first organic listing. I know it's organic, it's there for free because it doesn't have sponsored next to it. So one of your targets as an Amazon seller, launching a private label business, private label brand, a private label product, is to get your product to number one organically for the right keywords and the right key phrases. But initially, when no one's heard of the brand just yet, those sponsored advertisements, these ones here, is one way to drive sales and get the traffic to your listings. The reason why you're working on all of this right now is to going to build your very own Amazon FBA business. So you're going to source great products. Private label them, brand them, optimize the listings on Amazon so that the products and the brand belong to you. You ship to Amazon and Amazon does the rest. Of course, we've only had time to introduce you to some of the secrets of the ultimate selling system today, but of course, very key areas. And there is so much more to successful selling on Amazon that I'd like to help you with. All through the seven stages of the ultimate selling system. So we've already discussed where you are right now. Maybe you're frustrated in your current job and looking to start your own Amazon business. Possibly you're not making the money you need. Potentially you're scared to take the leap of working for yourself. Perhaps you have an existing business and already selling on Amazon, but you know you could be doing much, much better. Just don't know how. And we looked at the consequences of all of this, which means that you're still stuck doing the same old thing. You've not got the lifestyle that you desire or deserve. Your business, if you have one already, isn't as secure or as profitable as it could be or possibly should be. And as we said, you may even be concerned about the state of the economy or the cost of living crisis at the moment. And you're worried about how to make ends meet or how your business will survive, never mind. We've looked at where you want to be. Well, just imagine a time when you have your own successful Amazon business. Picture yourself having the flexibility to work from anywhere. Think about having a system that generates income for you or your business day after day after day. Visualize yourself being more in control of your life whilst your Amazon business operates in the background. So the pro AI extension, get an inside look at trends, sales volumes and quality of competition and seeing which niches dive into and which to avoid. And that's very important as well, which ones to go into and which ones to avoid. Estimate your FBA costs for a better view of your net profit and to get an overview of product history before you take it further. The AMZScout Pro AI extension. We just touched on that today, but there are so many really important areas that are absolutely vital to your product research. So identify strengths, weaknesses, opportunities and threats for each product and AI product improvement. Create hypotheses for enhancing a product using real time data. Real-time data there. AMZScout product database, so you can use this tool to find great potential product opportunities, a 600 million database, and then evaluate your competition using The pro AI extension, which is exactly how we work and exactly how we show you to do that as well. The AMZScout keyword search and reverse 18 lookup, as we know, really, really important and vital for the PSS when we're doing our product research. It's the keyword research tool to get thousands of relevant keywords for your listing and very much helps when it comes to the pay-per-click sponsored advertising to help grow your sales. And the reverse ASIN lookup, which helps with the O on the formula that we were looking at previously, the reverse ASIN lookup tool to instantly get the keywords your competitors are using for their product listings.