Today’s podcast comes to you from Las Vegas. I’m at an Amazon Conference along with about 800 other people. Today I’ll take a look at a few things all the sellers are buzzing about here. There is another conference in early August that I’ll be here for. It’s a sourcing show and a good place to get ideas for merchandise, to meet people and do some wholesale sourcing. You can find out more about it at asdonline.com
One topic of discussion here is cash flow. The cash flow problems associated with growing quickly can be crushing. It’s sometimes hard to be able to reorder product as you wait for the money on your sales to come in. Banks don’t generally lend large sums of money to at home businesses and credit cards can pose some difficulties. I solved this problem by using Kabbage. They are able to analyze your bank transactions and business accounts very quickly and pre-approve you on the spot. They will then debit your account monthly with a small and reasonable fee. It’s a very fast process.
The sellers here are also talking about the abundance of tools. I feel that if a tool impinges on your cash flow, don’t buy it. Get educated and get your product going and then take a look at tools you think you need for your business. Don’t get overwhelmed by all the tools that are out there.
Lots of talk here too about the use of Youtube and Facebook video ads. Those ads lead to rankings on Amazon. The great part about them is the re-targeting ads which tell somebody, especially on Facebook, that we saw you didn’t buy the product and here’s a discount if you buy now. These types of ads are really taking off.
The last thing I talk about is Amazon Prime Day. The media may have downplayed the success of it, but a whole lot of people saw a big increase in sales during the one day event. Amazon says it was a bigger sales day for them than Black Friday.
Please check out my upcoming free online bootcamp. My private label FBA bootcamp will give you the help you need to get started, step-by-step. If you’re already a seller, we’ll have some tips to propel you further. Sign up today!
What crazy thing have you done today to move your business forward? Let me know marketingcrazy.com/crazy. Please check out my podcasts at marketingcrazy.com/podcast. If you enjoyed today’s podcast, please leave a review in iTunes.