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- May 5, 2014
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You're moving your eggs from one basket into another neither of which is your basket. Sure Walmart could be a good channel to move onto but your best bet is to get vertically integrated on your own site.
Build your own website.
Sell your own products.
Own your own fulfillment.
2 years ago we were 98% Amazon. Today we're 50/50 and by this time next year Amazon will make up 30% of our business (while still doubling our revenue on there).
If you're looking to make more money you open up your margins by investing into your own site and improving your website conversions/traffic/brand.
I take 100% of amazon profits and produce new products for our website, invest it into facebook/google ads, hire more people, or expand our internal warehouse with those funds.
By doing that, my site is now profiting equal or more to what amazon does and we no longer need amazon but are using it to continue expanding our internal operations. That is the only way to truly have control over your business.
What Ive found as possibly the best way to use amazon is for brand recognition. I dont sell my high margin products on amazon because we have a proven and scalable method of maximizing our sales on our website but we still continue to do quite well with other products on amazon that we continue to expand on there.
By doing that, we're taking control of our customers via email, social, and retargeting which further perpetuates our brand into the customers psyche and actually leads you to building a strong brand that lasts.
Build your own website.
Sell your own products.
Own your own fulfillment.
2 years ago we were 98% Amazon. Today we're 50/50 and by this time next year Amazon will make up 30% of our business (while still doubling our revenue on there).
If you're looking to make more money you open up your margins by investing into your own site and improving your website conversions/traffic/brand.
I take 100% of amazon profits and produce new products for our website, invest it into facebook/google ads, hire more people, or expand our internal warehouse with those funds.
By doing that, my site is now profiting equal or more to what amazon does and we no longer need amazon but are using it to continue expanding our internal operations. That is the only way to truly have control over your business.
What Ive found as possibly the best way to use amazon is for brand recognition. I dont sell my high margin products on amazon because we have a proven and scalable method of maximizing our sales on our website but we still continue to do quite well with other products on amazon that we continue to expand on there.
By doing that, we're taking control of our customers via email, social, and retargeting which further perpetuates our brand into the customers psyche and actually leads you to building a strong brand that lasts.