7 Step by Step Amazon FBA Goals
Everyone is trying to give you an overview of how to sell on Amazon FBA, a "sell on Amazon tutorial". However, they leave out the important idea of setting goals and focusing your attention on one thing and one thing only at a time. Here, Kale and Taylor create an easy Amazon FBA tutorial that takes you step by step through what goals you should be setting, how to complete them, and why completing them will guarantee you success.
Goal #1: Product Research
The very first thing you need to do in order to start your Amazon business is product research. In order to do that, we recommend using the Jungle Scout Chrome Extension. It is the easiest tool to use and you just have to pay once for it and you can use it forever. Obviously, this is not the only software out there but I work with this one and I like it very much. Did you buy the software already? Good job, you can check this goal off!
Practice Product Research
Now that you have the JS Chrome Extension, it is time to practice doing product research. You have to make sure that you know how to do the research before you find your product to sell. One way to find products it is to use the 7/7 Rule. Practice until you find a method that works for you.
Find a Product
After you have mastered the product research technique, it is time to find that product to sell. Maybe during that practice time, you already found a 7/7 product or maybe even better. This concludes the last small goal of the Product Research goal. Make sure you complete all the previous goals before you move on!
Done? Okay, let's go to the next big goal!
Do you have problems finding a product? There is someone who can help you, and it's called Honey Badger Boost! If you need some training on how to find products on Amazon, attend this free webinar from HBB.
If you still have problems finding a product, HBB can do it FOR YOU! Just go here and buy their service! It is well worth it and you will get a product that will sell!
Goal #2: Sourcing Your Product
Reach Out to 15 Different Suppliers
Now that you have found the product you want to sell, it is time to find someone to manufacture your product. On Alibaba, there are probably tens of manufacturers that can make your product. Your goal is to contact 15 different suppliers if they can make your product. Try to find out how much they charge for 100 units including shipping to an Amazon warehouse.
Narrow Down to 3 Suppliers
After you contacted them, it is time to narrow down the list. Try to figure out which supplier would be best to manufacture your product. Which one answered you promptly? Which one speaks better English? Which one has the best price? Include any factors that you can think of and narrow your list down.
Order 3 Samples
After you narrowed down the supplier list, it is time to order some samples to test their quality. Try to find out which one looks better, is more resistant, lighter, and again, include all other factors that can help you make a decision. Ask friends or family for their opinion as well.
Negotiate the Price
You have tested the product, and now it is time to negotiate the price for your units and shipping. First, try to figure out how much profit you should make on your product. Negotiate with your suppliers until you get that 200% ROI.
Place the Order
You have negotiated with the supplier, you both agree to a price, now it is time to place the order. Pay through Alibaba to ensure your order. If something happens to your batch, or it is not what you expected, you can make a claim and get your money back.
Goal #3: Listing Optimization
Get Great Pictures
In order to successfully sell your product, you need amazing pictures. The little thumbnail is the first thing that people are going to see when they look at your product. And for that reason, your pictures need to be of the best quality! For comparison, look at your competitors and try to get pictures as good or better than them. Try to get at least 6-8 pictures from which 3 to be normal/white background, and 3 lifestyle pictures to show your costumers how they can use your product.
If you are a photographer, this can be a fun activity. If not, then find someone to do it for you! And guess who can do that? HBB! See how they transformed sucky listings into money-making machines! They offer packages based on your needs! Check the All-In-One package and see the amazing value you are getting. You will need that package also for the next goal which is...
Title, Bullets, Description, Back-End Keywords
Now that you have pictures, the next step is to optimize your title, bullets, description, and add back-end keywords. You need to do the research on which keywords are best for your product. Implement them in your title. The title is what weighs heavy with the Amazon algorithm. Make sure you include the best keywords that will drive sales. Next, are the bullet points. Here you have to highlight the main benefits of your product and other key features that it has. Also, make sure you include the best keywords for your product. Back-end keywords are the ones that people cannot see, but it is very important to make your listing seen with the Amazon algorithm. Here add the most relevant keywords for your product.
This can be an overwhelming step in optimizing your listing. But do not worry, there is help for you. HBB also does Listing Optimization! You can get the all-in-one package and get amazing photos, plus a listing optimization where they will create the title, bullets, description, and back-end keywords for you! It is well worth it to have specialists do it for you then waste a bunch of money trying to do it yourself.
Does your listing fit?
You have added the pictures, you have optimized the listing, now it is time to see if your listing belongs on the first page. Try to visualize if your product can compete with the ones on the first page. You have to make sure that your product is as good or BETTER than your competition. If it is not, you can never stay on the first page. It is like trying to fit with a bunch of high-class people all suited up and you are wearing a t-shirt, shorts, and flip-flops. It is just not going to work. Therefore, you have to make sure you fit with amazing pictures and great titles.
Get 10 Reviews
One important step that it is not in the video it is to get a minimum of 10 reviews. This shows that your product is wanted and was purchased by other people giving you social proof. People love to see good reviews and lots of them, but for the beginning, you will need 10 reviews before starting PPC campaigns or launching your product.
Goal #4: PPC Campaigns
Set Up the Automatic Low Bid Campaign
This Automatic Low Bid Campaign is a hack for super low ACoS. This campaign will generate sales to you for a very, very low cost compared to other campaigns you will have. To find out how to set up the low ACoS campaign click here.
Set Up the MerchantWord Campaign
This is a manual campaign and for this one, what you need to do is to use the MerchantWord keyword research and pick the most relevant ones and copy paste them in your campaign as phrase match keywords, and let it run.
Set Up Viral Launch Campaign
Follow the same steps as above and set up your manual campaign using the Viral Launch Keywords Research Tool.
Set Up Seller.Tools Campaign
Follow the same steps as above and set up your manual campaign using the Seller.Tools Keyword Research Tool.
Now that you have set up 4 PPC campaigns, you should optimize all the manual campaign almost daily. In the beginning, your ACoS can be really high. Your goal is to lower the ACoS as much as possible to make a profit on your product. Eliminate the bad keywords that cost but do not generate sales. Lower the bid on the keywords that have the ACoS too high, and raise the bid a little higher to the ones that the ACoS is too low so you can generate more sales. Your main goal is to bring your ACoS to 25%. Optimize your PPC as much as needed until you achieve this result. Do you have the ACoS at 25%? Go lower to 15%. The lower the better!
Goal #5: Launch Your Product
Your listing is ready, you have PPC campaigns running, now it is time to launch your product and target that first page for your keywords.
Identify One Broad Keyword
When you are trying to select your keywords, try to find the best broad keyword for your product (ex. wireless charger). Broad keywords usually cost a lot of money to launch for but if your rank high for this kind of keywords, you will generate a lot of sales FAST. These keywords are the most competitive ones. You will have to giveaway tens if not hundreds of units in order to rank on the first page. However, your competition should not matter for this reason only.
Identify Five Long Tail Keywords
Long tail keywords do not cost as much to launch for but they still generate sales. Therefore you should launch for these ones first. Try to rank to the first page for all these keywords, but bring them up systematically, and not all at once. Here is how to launch your product on a budget for more information about the costs of launching a business on Amazon.
Get That First Sale
Get that first sale and celebrate it like you won the lottery! Your very first sale it is the first sign of a functional business. Make sure you take time to enjoy it and then move to the next goal
Get that First Organic Sale
An organic sale is when someone searched on Amazon for a keyword and they found your product and bought it! This is another moment of celebration because you did not have to spend a dime to generate that sale. It is also the first sign that your business can run by itself.
Get 5 Sales per Day
You got those first sales in, now it is time to move up and try to generate five sales/day. This will generate revenue for you but also increase your rank even higher which will open the gate to more customers that can buy your product.
Make $275 per day
Why $275 per day? because if you can have a business that will make you $275 a day, that will bring you a total of $100,000 per year. Is your current boring 9 to 5 job bringing you $100k a year? If not, maybe you should start Amazon FBA instead.
Make $2,739.7 per Day
This is a magical number! Why is it magical? Because if you make $2739.7 per day, you will be making $1,000,000 a year! ONE MILLION!!! How crazy is that? That means you will have to sell 100 units that cost $27.40/unit per day, or 200 at $13.7 per day and you will have a business that will make you $1 million per year!! Enough said.
I hope this goal checklist will help you in starting your Amazon FBA business. Make sure you do not jump any steps and you will have a successful business that can run by itself. This can be a side hustle for you which can bring you an extra income, or it can become your full-time job! Be your own boss, and work from home, while Amazon does everything else for you. You will, however, have to put in a lot of work at the beginning and to make sure everything is set up right in order for your business to be successful. Nothing is given to you, you will have to put the work in. But the results are so worth it!
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