Use the data you can get on Amazon – such as Sponsored Products.
- Identify keywords as a way to find potentially new products. Customers may be searching for a product like yours, but in a different color. Or they may be looking at a product like yours made out of a different material. Running PPC helps generate search term reports that you may not be able to get manually. Remember, your successful private label product developed from raw data from your customers.
- Begin by downloading your search term report. Then you want to filter the top row and sort by impressions. Amazon really gets into the data of what is real from your sales. The good news is that, that can help you discover keywords for products that you are not currently selling. Especially if they have good customer demand. If it’s not relevant to that product specifically then you want to use that search term as a negative match on the campaign. The reason is because you don’t want to keep paying for clicks on it, but it is a very good way to generate new ideas.
As you develop a successful private label product, you will get to know your niche.
- Dominate your Niche! Remember that when you have two good selling private label products that compliment each other it only makes sense to create another listing that’s a bundle. So, now you are capturing those customers yet again, when Amazon displays it on the product page. It often says “customers who bought this also bought this”. When you find a niche that allows you to also create bundles, that’s where the gold is.
- Remember our Triple Threat Approach. This was discussed during Episode 47 of our podcast which outlines a specific approach to Amazon Private Label Selling. In the episode, we discuss ways to take up a lot of real estate on Amazon. Once you have a successful private label product, build upon it and your niche will begin to take shape.
- Appeal to different types of buyers within your niche. Shoppers appeal to different types of products. You will have customers who are low-price shoppers, mid-price and premium shoppers. Creating three different tiered brands will allow you to segment your products that are branded separately. These may be common in skincare products (such as, organic or all-natural, versus products with a lot of unnatural ingredients). This also helps you be strategic on what to develop next.
Take information from Customer Reviews
- Don’t be afraid to use feedback to improve. You can always find improvements to other people’s products, to your products and find other products within the niche. Read all the reviews, make notes of what you think you improve, and take that information back to your supplier. Tell them, “here are the problems with most of the products on the current market. How can we make these improvements? Can we use a better material or what possible solution can we come up with to solve this issue for this product?” Then come up with a solution by developing another product. So there’s lot of ways to generate ideas.
- Using the Data from Amazon is key. If you haven’t figured it out by now, we really think there is a gold mine in Amazon’s data streams. That’s the beauty about Amazon, is that there’s so much data between best seller rank, between reading reviews. Between data and search term reports and impressions, customer searches that you can really harvest all that to come up with your next product. The whole idea generation thing should never really be an issue if you’re harvesting the data on Amazon.
- A lot of big businesses tend to forget about listening to the customer once they grow. Contacting customers for improvements is a good strategy and we personally reach out and do this periodically. The Instant Pot® brand founders read every one of their 39,000 reviews and are now #1 ranked in Home and Kitchen. The founders started out as a private label brand, but are now in retail. They sold out of 1 million products this year, just through Black Friday and Cyber Monday alone.
If you have found these tips to be helpful, then give us a review in iTunes!
Don’t miss our Private Label Training!! It is only available 2 times a year!! Go to www.amazingfreedom.com/early. Our training is powerful for the following reason:
- We answer every single question that our course members ask within our private group.
- We evaluate potential product finds.
- Our evaluation guide saves members thousands of dollars.
Our Amazing Freedom Facebook Group is another way to engage with us regarding private label strategies, as well as our YouTube Channel. Just search “Andy Slamans” on YouTube or “Amazing Freedom”.
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