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GOLD Ask me anything about eCommerce (Ongoing)

Discussion in 'Business Models, Niches, Industries' started by biophase, Aug 28, 2015.

  1. inputchip
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    inputchip Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    @biophase, would it be unwise to launch a men's leather wallet or leather cardholder? I have a design that is unlike any other on Amazon that takes after luxury brands. There is really no functional value add, only style and quality. It's obviously a very competitive niche, so I am guessing it would be very difficult to rank.
     
    Last edited: Dec 14, 2017
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  2. ecommerce_lovin
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    Ranking for a competitive niche is not easy but is very doable. The biggest pro about being in a competitive niche is that you already know that there is a large group of buyers. Ranking for such a product on amazon will take some time, but if you know how to find the correct audience on FB and use that audience to re-target and create lookalike audiences from, you can see success. Amazon is all about getting sales. So getting that product to rank you'd need to generate the same amount or more sales than the people ranking on page one for the particular key work. Use a tool like junglescout to see if you have the capital and resources to generate those sales!

    Are there easier products to start with on Amazon, yes, but if you are willing to put the time into developing the correct audience and building an email list, you can have huge success!
     
  3. ecommerce_lovin
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    It is best to point these features out in your pictures and bullet points. 75% of buyers on amazon on look at your images and reviews.
     
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  4. ProblemOd
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    ProblemOd Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    @biophase

    Does a drop in star rating from 4.5 to 4.0 normally have such a big effect on sales? The best sales ever was when my product was around 50 reviews at 4.5 stars. Now that its at 150+ reviews with 4.0 stars, sales are much lower.

    I've experienced over the course of 8 months:
    • drop in sales (1400 units to 700 units) /conversion rate 35% to 13%)
    • rise in ACOS (30% to 70%)
    No change in ranking or page views.

    My listing was attacked with negative reviews upvotes and some fake unverified reviews, but I did receive a handful of genuine negative reviews.

    Regardless, I do have some ingredient changes I can make to my product (skin care topical) that I think will improve it. Would you suggest I start fresh and create a new listing (ranking won't be too hard) without all the negative reviews/vote manipulation or use the same listing?
     
  5. mcastillo
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    mcastillo Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Hey guys,

    For anyone who can answer, I live in Vancouver, Canada (I have an FBA location nearby which is nice)

    Should I be selling only on Amazon Canada, or only on Amazon.com, or both when starting out?

    From what i've heard, amazon in the states is waaaaay bigger than canada.
     
  6. Zedd9165
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    Zedd9165 Contributor Read Millionaire Fastlane

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    I'm planning to launch my products in next 6 to 8 months current in the market research phase and developing my business plan. However, I want to know what platform should I choose to sell my products online. I have been in web designing I have good knowledge in HTML CSS. I have had my own web pages and did learn PHP as well.

    But the current me is a very busy person with a 9-5 job to handle and of course, I don't want to spend my time designing my theme and all. So I thought of word press. But I find it a bit expensive to host it on blue host and GoDaddy. Does anyone have any suggestions?
     
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  7. mcastillo
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    mcastillo Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    That's probably the cheapest way. Use shopify honestly.
     
  8. Zedd9165
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    Thank you for your advice. I will try shopify.
     
  9. ProblemOd
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    Amazon is bigger in the states. Have you done the research for the US market? You would need to register your business here and pay all associated taxes as well. I would launch it here if you knew it was going to be a hit, if not just start with Canada then add it to US later
     
  10. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    In my opinion, I think it would. Here is what I think:

    Nobody expects a product to have 100% 5 stars, so 4.5 stars still looks really good. And that 4.0 stars looks bad because it's basically saying that the product has 1-3 star reviews, whereas a 4.5 star product in my mind has only 4 & 5 star reviews.
     
  11. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    I would do Amazon USA only to start.
     
  12. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    I had a client launch in Amazon UK first then Amazon USA. In hindsight, we should have just launched in Amazon USA. There is more traffic and the prices are higher. Go for the big market first, then expand to the smaller ones.
     
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  13. mcastillo
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    mcastillo Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Thanks biophase! I will need to look into registering my sold proprietorship there.
     
  14. StartToday
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    Hey biophase,

    What are your thoughts on HKTDC? Would you consider it safer than Alibaba and other sourcing websites?

    I know that Walter Hays recommend HKTDC because its certifications are more trust worthy.

    Thanks in advance for your time!
     
    Last edited: Dec 29, 2017
  15. ProblemOd
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    So just a heads up to those using sponsored ads. Always report any suspicion of click fraud as soon as you get a hunch. Be detailed with the dates, amounts, and keywords. I noticed my acos change (above) and I knew something was up.

    I just got refunded $3570.80 from my sponsored ad payments.

    Athough if you avoid high competition products like biophase then you can avoid these problems all together :)
     

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  16. Bishop
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    Bishop Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    I'm not biophase (not even close), but I can offer a little advice here since I was in this space, and i'm still unloading some of these on Amazon. A good rule of thumb is: If there is no value add, keep looking. I learned that lesson the hard way.
     
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  17. Steven.
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    Steven. Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Hi @biophase.

    I'm struggling to receive reviews on my products and I would like to ask what kind of action you take to increase yours. I thought about sending a follow up email with a discount code for further purchases and raise the review subject while doing so. Do you have some tips regarding this matter?
     
  18. Zedd9165
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    Gentlemen,

    I have been exploring new opportunities for a long time to sell accessories and apparel. I had been thinking of Shopify and oberlo to dropship items. What do you guys suggest? Has anyone experienced this platform before?
     
  19. LeoistheSun
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    LeoistheSun Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I'm not a fan of ecom due to all the moving parts, however...

    Two days ago I was looking at a product that recently was on the news and immediately thought of a new way of doing it that would add more value (humor) to something normally trivial and yucky.

    I don't know anything about e-commerce other than making the numbers work and verifying the need.

    So I plan on buying some with the new design and selling door to door to see if theirs a want/need.

    The cost per item on Ali is less than $1.
     
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  20. secondhanddog
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    Damn... are you me? Had a similar luxury wallet design samples made (from a few different manufacturers). European leather, slim design and great quality. ~$5 per item to make.

    Setup a shopify store and created a product page (with product photos from the samples). Ran ads on facebook to validate the idea, but from $20 worth of ads - 2000 impressions, 45 links clicked there were zero "add to cart" buttons clicked.

    Not sure if it's just worth moving on to another product or doing a round of google ads.
     
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  21. Christian McGhee
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    IMO 20 dollars isnt enough ad spend to see if you have a winner or not. Also like a previous member said, there are quite a few moving parts. Who are you targeting, does your presentation stand out? How much feedback do you have from potential customers, have you used other platforms (instagram, etsy, etc). You know sometimes value is defined in a psychological sense instead of a monetary sense. Untill you can get real feedback from real people, then you are just making moves based off assumptions.

    I think throwing stuff up on fb ads and using those metrics solely to qualify a product is an easy way to lose money quick. I'd much rather pay a Instagram influencer to promote a contest for me, one that allows potential customers to give feedback.
     
  22. Christian McGhee
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    Ask yourself this, what reason would they have to leave a review? If you can find a good enough reason for them, then they will leave reviews. When I first started dropshipping, I would handwrite short cards and send it via USPS. I knew they would be waiting a couple weeks for their product, and I wanted to build a personal connection so that they knew they were dealing with a real person. In that I card, I included that i I had created a UNIQUE promo code, that would be activated ONLY after they left a review on the website. I also included contact info in case they had anything they wanted to discuss.

    Later on I began to use an app called stamped.io - its integrated with shopify reviews, and it is AUTOMATED. It sends out emails allowing them to leave reviews and upload pictures just by responding to the email.
     
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  23. secondhanddog
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    Instagram/facebook for the ads. While I enjoy feedback from real people, for me it's feedback of making a sale or not. If people aren't clicking the ad, well the ad sucks. If people aren't clicking the buy button after the ad... there's something not working with your landing page.

    What are the costs on instagram influencers? That would be my push once you had a good validation around your product. Hugely mixed reviews on how effective they are. Personally I would feel a affiliate code deal with an influencer would be good, throw them 25%+ of the profit for each of their sales.
     
  24. Christian McGhee
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    Not going to disagree with you, but feedback is the only way you can know if you're creating real value or not. Think about your body, when you touch something hot you get feedback from your nervous system, it tells you that maybe you shouldnt be doing that.

    The amount of sales IS feedback, but no sales is also feedback. The issue is without the RIGHT feedback from REAL customers you are left ASSUMING what you should change. Why not just ask them so you can take out the guess work? Your time spent in the "awkward phase" will be dramatically decreased, and your efficiency will rise exponentially.

    There is a disconnect here, you want to create a product people want to buy but you don't want to ask the people what would make them buy it?

    As far as the influencer, I've had successes, but my success at an early stage may not be inline with your definition of success. I created a promotion using an influencer that had 500k followers. I created an ad that went something like this: The picture showcased 4 products from my store. The user had to comment which item they HAD to have, they also had to tag a friend, and they had to follow my page in order to win. I spent 100 dollars for the promo, and 15 bucks for the item I sent out. Heres what happened. I gained zero sales directly from the promotion. That was not my goal. I was building a new page, my goal was traffic and awareness, so I didnt expect sales to come running in. The contest got over 5k likes, i received close to a 700 new REAL targeted followers,a nice chunk of email addresses, and people told me which products appealed to them the most. Using that data I built several ads around it, and recouped my initial investment many times over.
     
    Last edited: Jan 12, 2018
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  25. secondhanddog
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    Sorry, I should say we did do feedback. Slim being the biggest (people not carrying cash any-more), which is also what we used in the ads.

    Nice strategy on the influencer. Did they only charge you $100 for the promo?