On this episode of The eCom Growth Show, we have with us the Founder and CEO of Ecomcy, which is a one-stop solution to growing your brand on Amazon and Walmart.
Learn from Vincenzo’s expertise and experiences in growing thousands of brands in terms of brand building, revenue, and profits.
What’s the best thing about becoming an Amazon FBA seller?
Starting an Amazon FBA business has no limitations in terms of location, the time you need to be there, or the time you need for personal commitments. You could be essentially anywhere and could scale your business as much as you want.
It’s all about finding the right products and building a brand.
Tips to maximize earnings from your Amazon business
- Move with the trends for selecting and buying products in bulk and then sell them for profits on Amazon or Walmart.
- Once you start earning money, create micro brands for selling specific niche products or seasonal products.
- Keep your day job, especially during the initial years of starting the ecommerce business. Your regular paycheck gives you the ability to take risks and try things that would help generate the cash flow needed for scaling it up.
- Create multiple sources of income but not so many that they stop your brain from pushing your boundaries. Sometimes, you need to burn bridges and go all in to succeed.
- Once you’re generating a steady revenue and have a good profit margin, say 15%, you need to expand it from there, add more products, and avoid negative reviews. Vincenzo recommends using brand analytics to understand the distribution and brand share at the keyword level to analyze how much you’re in control and then:
- Double down on your profitable keywords.
- Expand your keywords list to optimize your product listings and your PPC campaigns.
- Try to increase the lifetime value of your customers by adding an accessory or a complementary product or creating a useful kit related to your top products. That’s because customer acquisition often costs businesses the most. Increasing how much your existing customers pay can help maximize earnings.
- Create a product that triggers people to save and subscribe, and keep coming back to your Amazon seller brand. This strategy helps increase revenue exponentially.
For example, Vincenzo helped a brand that was selling a kitchen night lamp, create a cleaning spray product. This product helps keep the lamp grease-free and protects the material. Now, their customers buy the spray every 30 days to keep the lamps in the best position.
The brand grew its recurring revenue by tying up the best experience and longevity of its premium kitchen accessories with the cleaning product.
So, diversify your products and make people click on, “Save and subscribe.” - Don’t get too comfortable with your profitable products or campaigns. Keep nurturing them with insights and strategies from recent trends and the evolving market conditions. Ensure you’re at the top of the game by educating yourself on all the new functionalities that Amazon introduces.
Another way to make money on Amazon other than being a seller
Once you succeed as an Amazon or ecommerce seller and know the craft of it, you can earn money as Amazon masterminds, shows, and events by helping brands grow and maximize their earnings. You can just replicate your successful strategies for them.
Vincenzo has been doing the same with his company, Ecomcy. They already have a portfolio of 1,000 brands.
If you’re having trouble with stagnant growth or dropping revenue and sales, book a free consultation with them at Ecomcy.com.
Listen to the full episode to learn:
- How often to optimize your PPC campaigns, what keywords to target, and whether or not to increase bids for certain specific hours of the day
- How useful is brand analytics, the key insights it offers, and how to make the most of it
- Is Walmart the right channel to go multi-channel from being just an Amazon seller?
- How to use Google, TikTok, and channels like that to drive traffic to your Amazon product listings
- Various methods to work with influencers for your business growth and building a network of vetted creators to help other brands
Stay tuned to the Ecom Growth Podcast for interesting insights into growing your ecommerce business in the upcoming episodes. If you want to remove negative reviews on your Amazon listings, book our service today!