AM/PM Podcast: LIVE! Amazon FBA with 7-Figure Amazon Seller Manny Coats.

AM/PM Podcast: LIVE! Amazon FBA with 7-Figure Amazon Seller Manny Coats.

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AM/PM Podcast: LIVE! Amazon FBA with 7-Figure Amazon Seller Manny Coats. episodes

  • Amazon FBA Private Label: EP2 - Sellers Beware! Review Sites May Be Stealing Your Product Ideas.
    •Sellers Beware! Review Sites May Be Stealing Your Product Ideas•
    In this podcast Manny discusses review services and how your product ideas might be getting stolen.
    Review services allow sellers to give away their products for free or at a deep discount to their subscribers in exchange for an honest review. This allows a brand new product to get traction in the marketplace and gain some credibility that would otherwise take much longer to achieve.
    Reviews increase the product conversion rate and they also provide a boost on the search rankings on the Amazon marketplace. Another added benefit of a well-reviewed product is that Amazon will be more willing to give those products some “love” by showing ads to interested parties.
    One way sellers have used to get reviews in the past is by giving their products away to friends and family and ask them to leave a review, but this practice will likely be short-lived as Amazon regards it as “Rank Manipulation”. Let’s be honest, friends and family are rarely un-biased and will likely not leave an honest, objective review.
    Another alternative to get your first reviews is by using a review service. Although you’re still giving away products for free, or at a discount, you’re giving them to unbiased strangers and as part of the review service’s terms, these individuals have been instructed to openly disclose they received your product at a discount in exchange for a review. This is the way Amazon currently accepts in their terms of service.
    Here’s where another potential problem comes in…
    Sellers have no control over who signs up to be a reviewer for these review services; so it is inevitable that along with the bargain hunters we –the sellers, seek, will be several competitors looking for product ideas. These competitors are using review services to get an edge and figure out what new products are hitting the market. They could go as far as reverse engineer your product and/or find the original supplier.
    Review services can be great (and they are in most cases), but it’s important to know when NOT to use them.
    If your product is very unique, or if you’re first to market, a review service might not be ideal. In this case, you might be better off looking for dedicated product reviewers, bloggers or other sources for the first few reviews. You could later start doing pay per click advertising to drive potential customers to your offer and following up with the buyers asking for honest reviews.
    However, if you’re launching a product that is not overly unique, but still has value to the end consumer, a review service is a great way to get your product the visibility it needs.
    ~Download the transcript for this episode: https://www.ampmpodcast.com//episode-2-sellers-beware-review-sites-may-be-stealing-your-product-ideas/
    *Outline of this episode of the AM/PM Podcast:
    01:14 Introduction to review services and why they are important
    02:08 The old-school review tactic that can get your account banned
    02:39 The new-school review getting tactic you can use to get reviews and stay within Amazon’s TOS
    03:20 How your competitors could be spying on you and stealing your best product ideas
    04:52 Why it might not be a good idea to use the biggest (most popular) review services
    05:28 How to protect your product idea from “spies” and competitors and how to get traffic to your new products
    06:12 One of the most common products new Amazon sellers choose to sell (and why you should avoid them as the plague)
    ҉ Links mentioned in this episode:
    Learn more at: https://www.ampmpodcast.com/
    Connect with us: https://www.facebook.com/groups/AMPMPodcast/
    9 min
  • Amazon FBA Private Label: EP3 - Learn How You Can Do Business And Stay Safe.
    •Are You Worried About Getting Scammed On Alibaba? Learn How You Can Do Business And Stay Safe•
    Are you worried about getting scammed on Alibaba? One of the roadblocks for most beginner Amazon sellers who want to import goods from China is the fear of getting scammed and losing their hard-earned money. In this podcast Manny talks about Alibaba Trade Assurance, what it is, and why you should be using it. (Especially if you’re just starting out or you’re a first time buyer.)
    Alibaba’s website does offer us a few options to sift through this large list of suppliers and narrow it down to companies that meet a certain level of criteria that weeds out most of the crooks or fly-by-night operations. These options are: gold supplier, assessed supplier, and trade assurance services offered.
    In order to become a Gold Supplier, a manufacturer goes through a verification process with Alibaba that ensures they’re a legally registered business. This alone definitely helps filter out the scammers from the legit suppliers. Alibaba also shows the length a company has been a gold supplier, which helps add to the confidence level; scammers usually aren’t able to hang around for longer than a few months.
    If trade assurance option is selected, the website screens the suppliers based on offering trade assurance or not offering. This is a type of insurance that protects buyers by adding an extra layer of security to money used to purchase products.
    It’s important to notice the amount of the coverage. Some companies may only have a couple thousand dollars’ worth of insurance, whereas other companies may offer tens of thousands of dollars in coverage. There will be a link on the right side of the page that shows the actual amount of insurance that is being offered based on the volume of product ordered or amount of money spent. Be sure that this amount covers your full order value.
    On-time shipment safeguard assures the buyer that if the supplier is unable to meet the agreed deadline for shipping, Alibaba will cover the amount lost. This is rarely enforced by the buyer because once it is added suppliers generally make an effort of meeting the deadlines set. And even if they don’t, you’re typically going to wait a little longer to get your product vs. filing a claim with Alibaba.
    Pre-shipment product quality guarantees that the product paid for is the same product that will be received. You can hire an inspection company to go out and do a full inspection on the product to ensure that everything is as ordered and packaged as requested. The factory could provide this service; however, it’s recommended to get a third party involved in order to ensure a more impartial inspection.
    The trade assurance process is simple. When you’re ordering a shipment, a payment is made through wire transfers into an Alibaba account in the supplier’s name. The money is not immediately made available to the supplier. Once the supplier has made the products and passed the pre-shipment product quality inspection, Alibaba releases the payment into the supplier’s account.
    If the supplier does not offer trade assurance and there is no other supplier for this product, find out the reason for this. You might wish to wonder why they are the only supplier for these particular products. Is there a patent on the product? In this situation be sure to proceed with caution. If you still want to move forward with the order, use PayPal.
    PayPal’s dispute window is 6 months, so there is enough to time to raise this claim. If a claim is made, the seller and the buyer have 20 days of resolving this issue. If it is not resolved within 20 days, the claim will go to PayPal’s review team. The great majority of claims are closed in favor of the buyer, unless the product made was custom made or it is contrary to what the buyer is claiming.
    ~Download the transcript for this episode: https://www.ampmpodcast.com/ep3-are-you-worried-about-getting-scammed-on-alibaba-learn-how-you-can-do-business
    14 min
  • Amazon FBA Private Label: EP4 - A Behind the Scenes Look at The Real Costs of Getting Reviews.
    •A Behind the Scenes Look at The Real Costs of Getting Product Reviews•
    Product giveaways and discounts are an effective way to gather reviews for a new product, but the fees associated with running a giveaway can be confusing and overwhelming. This post clears up any confusion you may have about these fees with an actual real-life example.
    On our first review promotion we decided to use a review service to offer 50 units of our first product at deep discount. The representative of the review service encouraged us to give it away for free, but in an attempt to spread out the reviews a little we decided to offer the product for $1.99.
    This is a product with a manufacturer’s suggested retail price of $29.99; we set a selling price of $19.99 and a perpetual “Sale price” of $17.95.
    Given that the review promotional price was only $1.99, the Amazon fees were calculated off of that price. In this case Amazon charged $1.00 for Order Handling, $1.04 for Pick, Pack and $0.63 for Weight Handling and $1.00 referral fee. These fees came up to a total of $3.67. Our revenue for each unit sold was $1.99 so our net loss per unit sold was $1.68.
    Additionally to the $1.68 of Amazon fees (minus revenue), we must consider the Cost of Goods Sold. Between product hard costs, and inbound shipping cost, our total per unit came to near $7. This means that for every unit we gave away to a reviewer we incurred a cost of $8.68.
    Going back to the fact that we gave away 50 units, the total cost of this promotion was $434.
    In retrospect, we probably could have charged a bit more for the discounted units without negatively affecting the outcome of the promotion too much and reducing the overall cost of this promotion.
    We started the promotion at around midnight, and in only an hour we already had 10 people take us up on the offer. The remaining coupon codes flew away overnight.
    I’ve put together the important numbers of this promotion below in order to make it easier to read and consume. Remember I’ve set up a community of Amazon sellers on Facebook; be sure to join in the conversation and get your questions answered today.
    MSRP: $29.99
    Selling Price: $19.99
    Perpetual Sale Price: $17.95
    Review Price (50 Units): $1.99
    Order Handling: $1.00
    Pick and Pack: $1.04
    Weight Handling: $0.63
    __________________________
    TOTAL FBA Fees: $2.67
    Referral Fee: $1.00 (Typically 15% or $1 whichever is greater)
    Total Fees: $3.67
    Revenue: $1.99 (Price we sold the discounted units for)
    Net Revenue: -$1.68
    Inventory Costs (Including inbound shipping): $7.00
    Total Cost Per Unit Given Away: $7 Cost + $1.68 = $8.68
    Actual giveaway cost: $8.68 x 50 = $434
    ~Download the transcript for this episode: https://www.ampmpodcast.com//ep4-a-behind-the-scenes-look-at-the-real-costs-of-getting-product-reviews/
    *Outline of this episode of the AM/PM Podcast:
    00:41 Introduction to the episode content
    01:05 Example fees on an actual product giveaway
    05:05 Why a free giveaway may not be necessary (or ideal)
    06:03 What costs to keep in mind if you’re considering doing a giveaway
    ҉ Links mentioned in this episode:
    Learn more at: https://www.ampmpodcast.com/
    Connect with us: https://www.facebook.com/groups/AMPMPodcast/
    8 min
  • Amazon FBA Private Label: EP1 - Introduction to AM/PM Podcast and Manny Coats.
    •Introduction to AM/PM Podcast and Manny Coats•
    The podcast’s name comes from Manny’s desire to help you create passive recurring income at all hours of the day (AM & PM).
    This episode is more of an overview of what’s to come and an introduction to Manny so you can learn why you should listen to him, and what’s in it for you.
    ~Download the transcript for this episode: https://www.ampmpodcast.com//episode-1-introduction-to-ampm-podcast-and-manny-coats/
    *Outline of this episode of the AM/PM Podcast:
    00:43 Manny’s Introduction of the AM/PM Podcast
    01:17 Discover what we’ll be discussing in future AM/PM Podcast episodes
    04:53 Who is Manny Coats, and why you should listen to him
    07:19 Why after having several successful gaming companies, Manny decided to start an Amazon FBA business
    10:31 Manny sets a very ambitious goal for his first year selling on Amazon FBA
    12:12 Why Manny intends to get into a “super crowded market” with so-called “bad products”
    ҉ Links mentioned in this episode:
    Learn more at: https://www.ampmpodcast.com/
    Connect with us: https://www.facebook.com/groups/AMPMPodcast/
    15 min

About AM/PM Podcast: LIVE! Amazon FBA with 7-Figure Amazon Seller Manny Coats.

From the publisher's feed

AM/PM Podcast host and entrepreneur Manny Coats discovered the great opportunity of selling products through Amazon FBA in December 2015 and made over $1.6 million within his first year. As an expert…