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"...I think under a million dollars, personally. I don't think that you should be trying to 'squeeze that lemon' much harder until you've re ally optimized Amazon. I think once you get beyond a million dollars, give or take, in sales that's when you really need to start looking at other sales channels, whether its outside of Amazon.com and other marketplaces within Amazon or other sales channels totally outside of Amazon."- Dave Bryant on evaluating when an ecommerce business should diversify and get sales off of Amazon US
Amazon US is widely regarded as the ecommerce platform to be in for sellers online. However, an ecommerce business that's growing at a steady pace will eventually be confronted with the need to expand and diversify outside of Amazon US.
Dave and I both agree that ecommerce businesses below the million dollar mark should not jump into diversification too quickly. "I think under a million dollars, personally. I don't think that you should be trying to 'squeeze that lemon' much harder until you've really optimized Amazon. I think once you get beyond a million dollars, give or take, in sales that's when you really need to start looking at other sales channels, whether its outside of Amazon.com and other marketplaces within Amazon, or other sales channels totally outside of Amazon.," Dave says.
However, that's not to say that online entrepreneurs earning below seven figures should not do anything to boost their Amazon profile. List building off of Amazon and having an intuitive and user-friendly website can go a long way in increasing sales.
If you have reached that threshold, however; then it's time to rethink your strategy. Having all your eggs in the Amazon.com basket can be risky, especially since your account can easily be suspended for one reason or the other. If this happens, you will need to have another way to liquidate inventory.
On that note, ecommerce businesses may also do well to explore one or two of the following verticals:
The platforms above have been ranked according to a number of factors — dealing with taxes, ability to do Fulfillment by Amazon, cost of shipping.
Other resources mentioned:
How to Lose Money Chasing Champagne Dreams of Retail Distribution
Thanks for listening to this episode! If you have any questions or comments, feel free to leave them below. Happy selling!
Building a product brand is no easy task. When you don't have any experience selling physical products, where do you start?
Richard Phillips is facing that dilemma. Richard has been in the affiliate marketing business and his shift into actually selling a physical product to make money has proven to be very challenging.
Richard and I have a lot in common, one of which is the fact that we both got burned when Google dropped the hammer on affiliate marketing years ago. Just like me, he also realized that the way to make money sustainably is to actually offer something worthy of people's money, and his idea of building a brand selling quality products was born.
In this episode Richard and I talk about how to best approach building a solid product brand. Some conversation highlights:
If you enjoyed listening to our conversation and would like to be featured in your own Under the Hood episode, just fill up an application form here. We will contact you for further details.
Resources mentioned:
EcomCrew Premium Under the Hood BuzzSumo Ask Us Anything!
Thanks for listening! Until the next one, happy sellling.
OnlineJobs.ph is a database of Filipino workers with a wide variety of skill sets. It has proven to be an invaluable resource for our company as many of the talented people now working for our company were found using the site.
Our guest for today's episode is John Jonas, the founder of OnlineJobs.ph. He and I talk about how he turned a significant business need into something that's helping hundreds of ecommerce entrepreneurs and freelance workers alike.
Here are some of the highlights:
The last point underscores the key takeaway from this episode. According to John, success in hiring someone from the Philippines hinges on trust. You need to let them know that you're there to help them succeed in their job. "It's really important that you build their trust. I know that often we think, 'Oh, I don't know if I could trust this person.' They think the same thing and their feeling is stronger than yours," he explains.
Resources mentioned:
Ask Us Anything! OnlineJobs.ph Our Philippines Team - Hiring and Maintaining a Team of Rockstar VAs
Thanks for listening to this episode! If you have any questions or comments, feel free to leave them below. Happy selling!
In October 2016 Amazon laid down a rule that's a double edged sword--incentivized reviews are no longer allowed. On the one hand, it gives sellers with higher quality products a more level playing field, but on the other hand, it makes getting genuine reviews increasingly hard.
In this episode Dave and I talk about what you can do to generate reviews after Amazon banned incentivized reviews. We talk about all the possible ways to get reviews, i.e., legal ways, illegal ways, and those we think might be in the "gray area". We're not in any way encouraging you to use the "black hat" and "gray hat" ways of getting reviews--we simply want to give you some awareness and it's up to you to decide which strategies you want to use in your own business.
The review strategies we discuss in this episode are all taken from Dave's blog post on How to Get Amazon Product Reviews in 2018. We also discuss which methods we actually use in our own businesses to provide examples.
The strategies that we discuss in detail are the following:
From the list you can clearly see which ones are definitely illegal in Amazon's TOS, but ironically those are the ones that are easiest to do. While getting reviews gets definitely tougher, keep in mind that the risks of using black hat strategies are far too great and the end results too costly.
Resources mentioned:
EcomCrew AMA Update on customer reviews How to Get Amazon Product Reviews in 2018
Do you have any questions about this episode? Just leave a comment down below or leave us a voice message.
Thanks for listening! Until the next one, happy selling.
Amazon is the 800-pound gorilla in ecommerce and when they announce something new, it's bound to make the waves. But just in case Amazon news missed your inbox, Dave and I are here to recap them for you.
This will be a recurring episode in the podcast with Dave and I regularly updating you with big and exciting announcements from Amazon. This series is going to be chock-full of value even if you're not selling on Amazon, as it seems that almost everything Amazon does tends to affect all of ecommerce.
In this episode Dave and I talk about the following updates:
In conjunction with Amazon updates, we're also excited to announce new stuff from EcomCrew.
As part of our commitment to add new content every month, we will be releasing a course on Facebook Messenger in July. Sign up for an EcomCrew Premium membership to get access to this when it launches, plus access to ALL of our content--all of our courses, talks, webinars, spreadsheets, contacts, etc.
If you're not sure about joining us yet but you need help with your business, just go to AMA (Ask Me Anything), ask us whatever question you have and I (or Dave) will answer your question and give you advice for free.
Resources mentioned:
Ask Me Anything EcomCrew Premium What is Amazon's Inventory Performance Index & How Is It Calculated?
Thanks for listening to this episode! If you have any questions or comments, feel free to leave them below. Happy selling!
Getting into ecommerce is tough--it's a low margin business and it's saturated with competition from big and small names alike. In order to break into the game you need to have a lot of resources, with cash being one of the most important.
But when Katrina McKinnon started her ecommerce business 10 years ago, she didn't have a lot of money. There were already big names operating in her niche and not having money for paid traffic is a huge disadvantage. So she did what she knew she can do well--attract organic traffic using excellent content.
In today's episode Katrina shares with us some SEO techniques she used to drive traffic to her content over the years in her business. These techniques are so effective that her business was able to afford her a nice house, nice cars, and good education for her kids--all through organic traffic.
Here are some conversation points:
Aside from being an SEO expert, Katrina also works on connecting business owners with virtual assistants who are vetted and trained in ecommerce. She runs eCommerce University where aspiring virtual assistants learn about ecommerce. Successful graduates of the program are then vetted and listed on eCommerce Expert where business owners can hire them. If you're in need of someone to help you in your business without having to train them in ecommerce yourself, check out eCommerce Expert.
Resources mentioned:
Facebook Messenger Webinar EcomCrew Premium Schema App
Thanks for listening to this episode! Until the next one, happy selling.
Last year Dave set out on a goal to rebuild another million dollar company in a span of one year. It has been a little more than 12 months since he set out with that goal, and today we have him on the podcast to talk about his results. Did he make it to that $1 million mark? Let's find out!
But first, here's a bit of a backstory. In October 2016 Dave sold his first ecommerce company, which was doing just under $2 million in revenue per year. He had a number of reasons for selling his company but one of them was that he felt it would be easier to recreate a million dollar company using the knowledge he's gained running his first company over the past few years. He detailed his year-long journey building his second company in a blog post series you'll find here.
In today's episode Dave and I talk about his journey, and whether he was successful in rebuilding a million dollar company or not. We also talk about the challenges he encountered along the way, and what his plans are moving forward.
Some conversation points:
Whether Dave succeeded in his goal or not, what he accomplished within 12 months is nothing short of amazing. It's a great example for those just starting in ecommerce, whether they want to reach $1 million in revenue within a year or not.
Resources mentioned:
EcomCrew Premium Part 1: Rebuilding a $1million Ecommerce and Importing Business from Scratch Part 2 – Rebuilding a $1m Ecommerce Business – Finding Products and Suppliers PART 3 – REBUILDING A $1M ECOMMERCE BUSINESS First 60 Day Results Part 4- Rebuilding a $1m Ecommerce Business – 6 Month Results Million Dollar Update – 12 Month Update
Thanks for listening! If you have any questions about this episode, feel free to leave them below.
Head on to EcomCrew Premium if you liked this episode and would want to get more content like this. We have courses, webinars, video tutorials and more to help you in your ecommerce business.
Until the next episode, happy selling!
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