Scaling Your Business: When to Add More Products

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We recommend that you add more products once you achieve top-three status in the search results and/or at least $10,000 in monthly sales.

If, for some reason, you do not see that level of success, ask yourself the following questions:

■    Have you implemented all the steps of this program completely?

■    Have you gone through all the marketing steps?

■    Have you done your Amazon sponsored ads?

■    Have you been using the ASM tools?

Be sure to go back and rewatch the training videos and make sure you implement everything correctly.

Also, make sure you don’t give up prematurely. Try changing your product’s price. Change your title, the main image. Make sure you test doing different things. If you’re unhappy with your product or brand selection, let the inventory sell out in Amazon, then contact them to disable that UPC code and move on to a different product.

If you are doing well with your product and you enjoy that brand, think about expanding to another similar product in that brand line. Your customers are starting to identify with your brand, and you’ll be able to sell to those same customers again with another product in that same brand. It’s always easier to market to established customers. Plus, if you’re going to trademark your brand, you can move forward with a bunch of products underneath that umbrella.

Expanding your brand also creates cross-selling opportunities. You can market different products together for different coupon campaigns and more.

If you’ve already expanded on your brand, you might look into expanding outside your niche into a new brand. Check the spreadsheet you put together in Module 1 for ideas. It may take some time to set up, because you’ll be starting from square one with a new brand and all the logistics that go with that. If you’ve already trademarked one brand, you might want to go through the same steps for trademarking and Amazon brand registry, as well as setting up branded websites and Facebook fanpages.

On the other hand, it allows you to diversify across multiple markets. Which, from an investor standpoint, is a very good thing.

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