Scaling Your Amazon Business
I’ve written various articles in the past to help you build and launch your very own physical product brand on Amazon.
You’ve learned how to find a hot product to sell, how to find a supplier to manufacture your product for you, how to have that product shipped to Amazon from anywhere in the world, how to create and optimize your product listing, and finally, how to launch your product to the world.
While having one product can be enough to build a life changing business all by itself, it’s only the first step in turning your business into an asset that can be sold for millions later on down the road. The next step is called “scaling”.
There are two main steps in scaling a psychical product business:
1. Growing your brand by adding more products
2. Growing your audience to increase your brands reach
Adding More Products
Once your product is launched and getting consist sales each day, you will want to start looking for more products to expand your brand.
But how do you do that? And how do you know which product to do next?
It’s actually easier than you think, and that’s because Amazon literally tells you what other product your customers are already buying!
If you pull up a product on Amazon and scroll down a little, you will see something called “Frequently Bought Together”. Based upon the incredibly large amount of data that amazon has, they are able to tell us which types of products are most commonly bought together.
This simple piece of info is incredibly powerful, because we know right away what other products many of our customers are already buying when purchasing our product.
Now if we were able to quickly source one or more of these products, we’d almost immediately get sales without even needing to get any additional customers or traffic!
For even more info on what your customers are buying, you can continue to scroll down and you will see there is another section called “Customers who bought this item also bought”.
For example, customer who bought X also bought Y and Z.
It’s incredible how much data you can find right on Amazon. Adding a few of these products could easily double, triple, or even quadruple your business, without the need to acquire any more customers or traffic.
Growing Your Audience
In addition to scaling your business with more products, the other method is growing your audience, and there are several ways to do this.
The first is to simply launch your products in other Amazon marketplaces.
No matter which market you decide to sell on first, there is always another Amazon marketplace you can expand to almost immediately to reach millions of more customers.
For example, if you start will selling in the US marketplace, you can expand into the EU marketplace, and you will almost double the amount of customers that you can reach, and vice versa. And that’s not all, Japan and India are some of Amazon’s fastest growing markets, and they are constantly entering into new countries.
All of this results in a huge opportunity for expansion, as Amazon continues their quest for e-commerce global domination.
In addition to expanding into other amazon market places, you’ll eventually want to start selling on your own website as well. The goal of your website won’t be to outperform the sales that you are making on amazon, but instead, it will be used to increase brand awareness and provide another channel to connect with your customers.
Let’s not forget about social media, either. You’ll want to connect with your customers wherever it is they’re already hanging out, such as on Facebook, Instagram, YouTube, Twitter, and Pinterest, to name a few.
By connecting with your customers and learning what they’re interested in, you’ll begin to form a relationship with them that will help you launch better products, provide better service, and build a bigger brand.
The first step is to get your product launched and your Amazon business up and running as quickly as possible.
With amazon growing faster than another business in history, the opportunity that exists for you today is at an all time high.
No longer do you have to be concerned with location, available time, or technical knowledge. This business can be created from anywhere in the world, and takes only a couple hours a day to get started.
If you ready to take control and begin living the life of freedom that you’ve always deserved, now is your chance.