[EPFN] 💰 How to Make an Extra $28K per Year on Existing Products

⏳ One session wasn’t enough

Last week, I hosted a special Amazon seller session where I broke down how we're using AI to uncover hidden product opportunities with massive potential!

I walked through the exact process we use to spot 6-7 figure product opportunities on Amazon and how to validate their success before even launching.

But here’s the thing…

One session just wasn’t enough. We barely scratched the surface on finding winning products, building high-converting listings, and scaling them to success.

It’s like trying to run a marathon on a hamster wheel if you’re building a business with the wrong product.

No matter how much effort you put in, you won’t get anywhere. But if you nail the product, your business can skyrocket faster than you ever imagined.

Choosing the right product is everything for your Amazon business, and 2 hours wasn't nearly enough time to cover all the critical details.

That’s why I’m hosting a free 5-Day Product Selection AI Challenge next week to dive deeper into each topic. I want to make sure you have everything you need to find and launch products that will dominate on Amazon.

You'll leave with the confidence to consistently select products that will crush it on Amazon.

Grab your spot now before it’s full.

Let’s make this happen!

💰 How to Make an Extra $28K per Year on Existing Products

Here's a simple truth:

if you're manually setting your prices on Amazon, you're leaving money on the table.

Whether your prices are too low (and you're losing profit) or too high (and you're missing out on sales), bad data leads to bad pricing decisions.

To make matters worse, static pricing can't keep up with the fast-paced market shifts, which means you’re not reacting quickly enough to competitor changes.

You’re still making sales, but you're not maximizing your profit.

Here's how we fix it with Profasee (not promotional):

We plug your listings into Listing Pulse, which gives you real-time, accurate data. This information gets fed into our AI, which adjusts your prices in real time based on market signals.

The result? You capture more profit by getting every dollar from your customer’s willingness to pay.

And the best part? You'll gain more customers at a lower cost and significantly increase your profit margins.

Here’s the ASIN level performance - check out the BSR rank - it improves with AI dynamic rotational pricing

Here👆🏻is the catalog performance - a 7-figure profit capture!

Watch the breakdown in just under 2 minutes 👇🏻

🚀Amazon Accelerate Takeaways

Here are several things to unpack:

• SIPP: You can save on FBA fees by self-enrolling in the program.

• Amazon Business Seller Certification: Get this to rank higher in search results.

• Title Adjustments by Amazon: Amazon will start adjusting product titles based on searches. My take? It’ll benefit sellers since Google has been doing this forever. That said, you should still optimize your listings using the highest-ranking keywords with DataDive. Here’s 30 days of free access—exclusive for my subscribers.

• Animated Images: You can now animate images inside Amazon Seller Central to boost conversion rates during brand display campaigns. Check out this video on how to do it.

• 60-Minute Delivery: Amazon’s 60-minute delivery is expected to launch by the end of the decade.

• Amazon Warehouse Distribution (AWD): While Amazon encourages the use of AWD, not all products are eligible.

  For more details, check out Jeff Cohen’s post.

🚀 Secret PPC Hack: Boost Profitable Sales with Retargeting! 🎯

Hack from Chris

Here's a way to get a new flow of profitable sales every week for your product on Amazon. Low ACoS, no outside traffic, no discounts, or anything like that.

The catch? You won't get a lot more sales, but the additional sales you do get will be profitable.

The strategy?

It's an Amazon PPC Ad configuration called an STPP campaign. STPP stands for Self-Targeted-Product-Placement ad. It's a Sponsored Product ad configuration that works like retargeting, but not the official retargeting Amazon provides through Sponsored Display.

Here's how to set it up:

1. Log into your Amazon Ad console and create a new Sponsored Product campaign.

2. As you're setting up the campaign, choose one product to advertise.

3. Then, select "Product Targeting."

4. For the product target, input the same ASIN that you're advertising. Select "Exact."

5. Bid on the higher end.

That's it.

What happens is Amazon won't put your ad on the same listing you're advertising (because that would be like inception—they’re already on the listing, so why would they click the ad?).

Instead, Amazon shows the ad to customers who visited your listing but returned to the search results, giving you instant retargeting.

This can add a new, low-volume, profitable flow of sales to your listing. You're welcome!

Full video screenshare breakdown of how to set up this ad in the step-by-step video.

🚀 Wholesale TOS-Compliant Amazon Hack:

Did you know there’s a TOS-compliant way to dive into selling on Amazon without creating your own brand?

You can partner with small retail shops!

A lot of local businesses are happy to let you sell their products online.

It’s a simple, and pretty low-risk approach.

My friend and industry expert Nick Milani breaks this down on his YouTube and TikTok channels.

Here is his free blueprint you can download with all the details.

📉 Why a Low Purchase Rate Can Be Beneficial for You

When it comes to low purchase rates in Amazon Product Opportunity Explorer, one key metric to focus on is the search conversion rate.

Pay attention to the search terms on the left and how they relate to the specific Amazon products on the right.

Amazon provides the highest search conversion rates for the products currently available, so if you see a super low conversion rate, it often signals that the market is not fully satisfied with the existing products.

This presents an opportunity to create something better that meets market demands. The exceptions to this rule are niches tied to personal taste, like home decor or certain types of art, where preferences are highly subjective.

Take, for example, the product keyword "dog pool ramp." If you look at the product listed on the right side of the screenshot, it's generating revenue from a 0.57% conversion rate.

Any keyword with a conversion rate below 1.5% indicates room for improvement. This low rate shows an opportunity to develop a superior product that could perform better.

Now, if you scroll down, you'll see the keyword "boat ramp for dogs" with a conversion rate of 1.11%.

The product tied to this keyword is generating significant revenue, even with a relatively low conversion rate, which means there’s a clear path for you to enter this market and make improvements.

Analyzing search conversion rates like these in Amazon Product Opportunity Explorer will help you make smart decisions and identify where you can create a product that fills a gap and boosts revenue.

📚 Must-Reads for This Week

The Best Product Sourcing Tools for Amazon Sellers in 2024

Amazon misconceptions and myths DEBUNKED by Max Hoffman

🚨🚨 Attention Sellers: New Compliance Requirements Ahead!🚨 🚨

Did you read all the way here and you liked this issue?

Just reply to this email with a simple “yes”

This helps ensure the email gets delivered to you and all our readers every time.

Thanks a lot!

Become a paying subscriber of Monthly Amazon Goldmine Ideas to get access to this post and other subscriber-only content.

Already a paying subscriber? Sign In.