In this lesson, you learn when it’s time and HOW to expand your Amazon business by adding new products to sell.
Now that you have one product on Amazon – you’ve added the product, optimized everything on the detail page, done some cool strategies to promote that product – you really know how to launch and promote an Amazon product. Now that you’re there, you can look at what new products to add.
Before adding any new products, you’ll want to be sure to consider the following points:
Inventory is under control and sales are coming in.
You do not want to add any new products until this aspect is completely under control.
You want to make sure you’ve learned and applied all the promotion ideas we’ve taught you in the previous modules.
Ideally, the products you want to add are products which are related to your first product and which can also go under the same brand. The reason for this is:
• When you start expanding outside of Amazon it’s good to have a good, solid, coherent brand with multiple products.
Even in different markets on Amazon, products are slightly different in how they perform and also in the setup of the product. You’ll be dividing your efforts by jumping into multiple markets.
We’ve all had products that didn’t do well and didn’t work out for whatever reason. That’s fine, but is there anything else you can do to promote that product on Amazon? Maybe the promotion that you’ve already done needs a little more time. However, if you don’t feel that is the case and you don’t want to keep pursuing that product, don’t worry; everything you’ve learned about launching a product on Amazon can be applied to any other product.
BIG TIP: The easiest way to make more money once you have one product live and SELLING on Amazon is to launch another product. It will be easiest and you’ll already have an existing base of experience and customers if you stick with the same general market as your first product, but you don’t HAVE to.
With that said, here’s this lesson’s ACTION STEP – Plan your next product. No matter where you are with your current product, start thinking about what product you want to launch next. Keep your focus on getting your first product live and successful, but have a plan in place for growing your Amazon business beyond that one product starting NOW!