Launching Amazon Products in 2020 Hot or Not

TL;DR

Starting a product requires branding, external traffic, and understanding advertising costs.

Transcript

hi my name is Steven I'm the founder of my Amazon guy and I'm joined today with Andre Llosa vaq who is the owner of new wave swing buoy a million dollar brand on Amazon today thanks for joining Andre hey welcome thanks for inviting me today we're gonna be talking about what it's like to start a product from scratch we're going to talk about Faceboo... Read More

Key Insights

• 👶 External traffic and branding are crucial for the success of a new product on Amazon.
• 🥺 Logistics issues can lead to product failures, emphasizing the importance of proper shipping practices.
• 😘 High advertising costs and low conversion rates require careful optimization in selling products online.
• 👤 User-generated content and branding efforts can significantly impact sales and customer trust on Amazon.
• ❓ MSRP values can influence customer perceptions and purchasing decisions on Amazon.
• 😘 Coupons may not always be effective in driving sales if the conversion rates are low and costs per claim are high.
• ☠️ Focusing on keyword optimization and A+ content in listings can improve visibility and conversion rates on Amazon.

Questions & Answers

Q: What were the key issues with Steven and Andre's failed hot sauce product?

The hot sauce product failed due to issues with logistics, low conversion rates, and high advertising costs. Additionally, insufficient branding and external traffic contributed to its downfall.

Q: How did Andre achieve success with his swim buoy product on Amazon?

Andre found success with his swim buoy product by focusing on branding, user-generated content, and external traffic. These elements helped establish trust with customers and drive sales on Amazon.

Q: Why did coupons not work effectively for the hot sauce product?

Coupons did not work effectively for the hot sauce product because they led to high costs per conversion without significant returns. The low conversion rates and high advertising costs outweighed the benefits of using coupons.

Q: What is the significance of having MSRP on Amazon listings?

Having MSRP on Amazon listings can be beneficial as it can create a perception of value and trust among customers. In Andre's experience, products with MSRP tended to perform better in terms of sales.

Summary & Key Takeaways

• Andre and Steven discuss their failed hot sauce product, highlighting the importance of branding and external traffic.

• Failure stemmed from logistics issues, low conversion rates due to insufficient content, and high advertising costs.

• Branding and user-generated content were key to Andre's success with his swim buoy product on Amazon.