Will Tjernlund, Greg Mercer and Bernie Thompson talk about private label pricing, from costs and competitors to products and positioning
There is a common misconception about private labeling on Amazon that simply taking a generic product and slapping a logo on it is a recipe for success. In most cases, there are other factors that play a key part.
One of these is price. Unlike wholesale or reselling models, where a manufacturer will often provide you with a retail price, and there are usually many competitors selling the same product, there are no such guidelines with private labeling – the price is totally down to you.
This can be daunting, as not only do you have to analyze market pricing, and decide on your initial place within it, but you also need a strategy for altering your price to react to market changes and your competitors.
To shed some light on this topic, I spoke to three private label experts – Will Tjernlund, Greg Mercer and Bernie Thompson – to get their advice on how to price private label products.
Product selection isn’t about hitting the bullseye first time. It’s about experimentation, data and trying again. Danny McMillan explains his approach.
This post is by Danny McMillan. Danny is an international public speaker, private label seller and host of Seller Sessions the weekly advanced marketing show for Amazon sellers. Danny has been a guest speaker at The Smart China Sourcing Summit in Hong Kong, The European Private Label Summit, The Private Label World Summit and Private Label Days to name a few.
Imagine the situation: you’ve decided to sell a new private label product on Amazon. You find a supplier, agree the details, and place an order with them. You receive the units, create a great listing on Amazon, get some Sponsored Product Ads running… and then the problems start.
Your product just isn’t selling. Maybe your average cost per click is three times what you expected. Maybe your product turns out to be inferior to your competitor’s version. Or maybe there is simply no market for it and the units won’t move whatever you do.
These kind of problems are common, but can often be avoided. If you test the product and the market before committing to a big order, you can discover and fix a lot of problems, and change your approach before taking on stock. This is an organic method, based on testing a number of different factors in your chosen product category. Your results may differ if you are planning on a large scale launch with hundreds of giveaways.
There is a misconception that product testing is costly and time consuming. That doesn’t have to be the case, as you will see in this post. I’ll show you some of my favorite product testing hacks, which will help you generate rich and accurate market data, create better products more quickly, and carry out sample tests to save you a lot of money further down the line.
Is there really a hard limit on Amazon listing “backend” search terms? Anthony Lee has the definitive answer on limits and a lot more.
This post is by Anthony Lee, COO of SixLeaf (formerly ZonBlast), the first and largest product launch and ranking service for Amazon sellers.
If you sell on Amazon, particularly if you sell your own brands, you’ve undoubtedly been affected by the most recent change in the indexing of your listings’ search terms (commonly referred to as “hidden” or “backend” keywords).
Backend keywords are set in Seller Central, and don’t show visibly to buyers. In theory, they should lead to your product appearing in search results, just like the other words in your listing, such as those in the title and description (much more on that later).
However, there has been recent debate about how these terms are included in Amazon’s search index. How many are actually used when deciding whether your product is relevant to a customer’s search?
Anecdotes are rampant across forums and seller groups, telling tales of woe about decreasing listing views.The general consensus is that the number of search term characters that are indexed has decreased dramatically.
But there has been no official update from Amazon, or statements to explain how sellers should now optimize their keywords. Instead, there’s just a lot of the same ambiguous and inaccurate advice. To make matters worse, in typical Seller Central fashion, Amazon’s own support staff are giving out old information, or apparently just making it up as they go.
For this post, we’ve researched how Amazon really indexes backend keywords. I’ll put the record straight on a number of points, so you can make the best use of search keywords in your own listings.
Matt Ferguson has a few tricks up his sleeve for resellers and private labelers on Amazon. The force is strong with this one.
Have a question for us? Send it to email@example.com. Readers’ Questions are in partnership with Emanaged and Online Seller Consulting.
Love your answer to Cathy. So I’m taking you up on your offer to ask “How best to find products to sell on Amazon?” Specifically I have a beauty brand with seven products I started selling FBA last February and would like to add some private labels to quickly scale the line. How can I source profitable items to add, including sourcing suppliers?
— Sam U, Houston, TX
Andrew Browne shows how to increase sales and profits on Amazon by testing your listings
This post is by Andrew Browne, co-founder of Amazon private label split testing and pricing optimization tool Splitly.
Conversion rate optimization (CRO) is one of those terms that is widely used in the digital marketing and ecommerce world.
But what exactly does it mean?
On the most basic level, it means to optimize your website or webpage for higher conversions. The end goal is to increase the percentage of visitors to a website that “convert” into customers.
So as an Amazon seller, this translates to improving your product listing for greater conversions, meaning more sales and more profit.