Azon Monthly Stats – June 2015

BOOM!

What a month!

Our goal for this month was $75,000 worth of sales and we smashed it!

Let’s look at the numbers;

Now let me tell you we currently have 3 products selling on Amazon, but two of them are in their infancy, so I’ve only been sharing each month the results from our one main product.

So firstly here are our sales results overall for the month of June;

Sales_Dashboard

But to make it relevant to the past months reports and to show you what’s possible with one product I’m going to stick with just the one product results.

So here’s the sales for the month of June for our main product that we started selling in February;

Sales_Dashboard

Total Sales (For one product) – $90,959.35

Plus total cost of stock carried forward – $18,833

Costs

Stock & Shipping – $23935

Promotional Expenses – $3556

FBA Fees – $29675

Marketing Costs – $4442

Total Profit – $48,184 (Pre-tax)

Summary

An absolutely phenomenal result for the month, achieved by simply doing something every single day to increase our sales, our BSR and our keyword rankings.

The big thing we focused on this month was using Amazon Ads to boost the sales by really focusing in on the keywords that work.

It takes a few days for stats to catch up on Amazon unfortunately so you have to be patient and really only test one strategy at a time to see if it works, but by looking at the keywords that have the largest impressions and the highest conversion rates allows us to bid competitively for those keywords and get lots of exposure.

Plus we are convinced that if you show Amazon a little love, they show you some love back and as you can see from the numbers you don’t have to be spending a ton of cash on Ads to see great results!

One of the keywords we really focused on for June was Fathers Day! As a result we got a LOT of exposure and our sales increased quite dramatically helping us to get as high as a BSR of 15 in our main category.

So a key tip is to look around you for special events / holidays etc coming up and create a plan to capitalise on those!

All in all very exciting times and the model continues to blow my mind as I see our numbers just grow and grow!

What’s really exciting though are the results from some of our students in our Amazon Coaching Program.

Here’s a screenshot from a post in our group just a couple of days ago;

Screen Shot 2015-07-01 at 20.13.27

And here’s a response to Graemes post from another student!;

Azon_Selling_for_Beginners

It’s brilliant isn’t it!

How You Can Do It Too

Unfortunately our training program Azon for Beginners is now closed for the foreseeable future. But there are lots of resources out there to help you with your journey.

1. This blog! Keep an eye out for update posts, tips and strategies for growing your Amazon business and be sure to download my The Beginners Guide to Building a Business on Amazon ebook which walks you through the 4 key steps to starting and growing an ecommerce business on Amazon

2. Keep your eyes & ears out for webinars and updates from Jason Fladlien & Wilson Mattos from Rapid Crush. These are the very clever guys we learnt from and I highly recommend their training programs.

3. Ezra Firestone is a must. Having been in the ecommerce game for over 10 years now he is a man of great experience and is happy to share his experiences with you. You can find him here – http://smartmarketer.com/

4. Scott Voelker is an Amazon Seller and runs a popular weekly podcast on how to start, grow and build your Amazon Business.

5. Chris Guthrie, also an experienced Amazon seller runs a blog which not only helps with selling on Amazon but also covers general online entrepreneurialism. Also from time to time he also opens his Amazon Selling coaching program which specialises in helping you to grow and build your own profitable Amazon business, plus he’s just launched a new podcast dedicated to Amazon sellers.

As I find more resources I’ll be sure to add them to my posts. In the meantime I hope these help!

Jo :)

To see all our Amazon Monthly Stat reports from the beginning and specific posts about Amazon go here – Our Amazon Journey

 

 

Azon Monthly Stats 5 – May 2015

May 2015 Monthly Stats

Grow, Grow, Grow!

We had another great month in May.

It’s blowing our minds to be honest with you, sales just keep growing and growing.

So before we talk about why that might be, let’s look at the numbers;

Sales_Dashboard

Total Sales – $44,213.20

Plus total cost of stock carried forward – $12,354

Costs

Stock & Shipping – $12061

Promotional Expenses – $3430

FBA Fees – $14600

Marketing Costs – $2876

Total Profit – $23,600 (Pre-tax)

Summary

Our goal for May was to hit $40,000 sales, and we smashed it! :)

So what did we learn this month?

Firstly the key to making this successful is to stay focused and do something every day. Whether that’s getting reviews, releasing a press release, tweaking your Amazon Ads, playing with your page to increase conversions etc.

Secondly, since launching this product we’ve been giving out discount coupons in return for reviews every single day. This has helped increase reviews and raise our best seller rank continuously.

In fact our BSR right now is at 50 for our main category and we’re No 2 on the page rankings for two of our main keywords.

Actions we took in May were;
 

  • Added our product to another category
  • Raised our price
  • Ran bigger budgets on Amazon ads which we think gives us some Amazon love (note the word think, Amazons algorithms are a bit of a guessing game)
  • Kept our stock levels high
  • Got lots of Backlinks via press releases, social media, videos etc
  • Increased our reviews by over 200
  • Applied for Frustration Free Packaging which means we supply our own packaging for our product to be sent out from Amazon and we’re less likely to get hijacked. So far, so good!

So our goal for June is $75,000 in sales, bring it on!

Do let me know if you have any questions and if you’d like to learn how to start selling on Amazon, grab your free PDF below!

Jo :)

To see all our Amazon Monthly Stat reports and specific posts about Amazon go here – Our Amazon Journey

 

 

Azon Monthly Stats 4 – April 2015

April 2015 Monthly Stats

Keyword Glory!

April was FANTASTIC!

We managed to get rid of our hijackers once and for all and we hit the Number 2 spot on Page 1 of the Amazon search results for our main keyword.

So let’s examine the numbers…

Sales_Dashboard

Total Sales – $22,686.35

Plus total cost of stock carried forward – $7004

Costs

Stock & Shipping – $6532

Promotional Expenses – $1970

FBA Fees – $9950

Marketing Costs – $1542

Total Profit / (Loss) – $9,696

Summary

All in all a great month!

Amazon have decided to start charging EU VAT on our seller fees even though we are a business so I’m looking into to getting my company VAT registered in order to reclaim the VAT. But in all honesty this whole EU VAT situation is incredibly complex, especially when it’s mixed with doing business via companies outside of the EU.

So my advice if you’re in a similar situation is to seek the advice of an accountant, I’m afraid I am not qualified to advise you on tax issues!

Because our sales are now increasing quite rapidly we’re forecasting quite a big stock spend in May.

Regards marketing & promotional efforts, we’re continuing to give away discounted products to increase our reviews, we’re using Amazon Sponsored Ads to push our product, we’re releasing one press release a week and that’s about it at the moment.

We have created a blog and a facebook page around our brand and will begin to build some authority and a list over the next few months as we decide to grow the brand and add more products to it.

So exciting times ahead.

Our goal for May is to hit $40,000 sales, so we’ll see how we get on!

Do let me know if you have any questions.

Jo :)

 

 

Azon Monthly Stats 3 – March 2015

Welcome to my Monthly Stats post.

This business is so exciting I wanted to record it’s growth from the very beginning and share with you what’s possible!

Hence each month I’ll create a post to show my sales stats on Amazon and also do a quick profit & loss for you so you can see what actually ends up in our pockets!

Please note I will never reveal exactly what my products or branding are. Not because I’m precious about it, I’d much rather give you a warts and all account of my journey.

But the conversion rate of my listings pages on Amazon is paramount to my rankings and I don’t want to run the risk of people just ‘having a look’ as it could have a devastating effect on my sales. Something to bear in mind for your products also.

March 2015 Monthly Stats

Hijack City!

I had hoped that March was going to be a slam dunk month by way of sales, but unfortunately we spent the month fending off hijackers.

I’ll explain what that means in a second but first let’s look at the numbers;

blog4-monthstat1

Total Sales – $13968.50

Plus Total cost of stock carried forward – $4131

Total – $18099.50

Costs

Stock & Shipping – $4200

Promotional Expenses – $1900

FBA Fees – $3250

Marketing Costs – $770

Total Profit – $7979.50

Summary

OK so not a bad month considering we’re buying stock like crazy so as not to run out of inventory, so stock costs pretty high again this month.

Promotional expenses have calmed down a bit, although we continue to spike our sales with discounts and freebies.

So what’s this hijacking stuff all about then?

Unfortunately although our product is quite popular hence it’s selling pretty well off the bat, it’s also very common. This means that anyone who can source the same product can use our listing to sell their version of the same product.

So in other words we do all the work to increase our BSR (Best Seller Rank) and get more exposure on Amazon only for someone to pop in and list their product on our listing, sell theirs cheaper and get all our sales.

Unfortunately it’s not even a sneaky strategy, Amazon’s whole ethos is to have an open selling service and it works on driving prices down for consumers. There are even courses out their teaching people how to make money doing exactly this.

Now there are a multitude of ways you can get rid of hijackers which I won’t go into right now, but here’s a quick takeaway for you, the less unique your product the more chance others will try to hijack your listing. Just some food for thought.

The great thing about being hijacked this month is we now know what to do to ensure it doesn’t happen!

All in all a promising month and looking forward to April!

Thanks for reading and feel free to ask any questions below.

Jo :)

 

 

Azon Monthly Stats 2 – February 2015

Welcome to my Monthly Stats post.

This business is so exciting I wanted to record it’s growth from the very beginning and share with you what’s possible!

Hence each month I’ll create a post to show my sales stats on Amazon and also do a quick profit & loss for you so you can see what actually ends up in our pockets!

Please note I will never reveal exactly what my products or branding are. Not because I’m precious about it, I’d much rather give you a warts and all account of my journey.

But the conversion rate of my listings pages on Amazon is paramount to my rankings and I don’t want to run the risk of people just ‘having a look’ as it could have a devastating effect on my sales. Something to bear in mind for your products also.

February 2015 Monthly Stats

New product launch time! Whoop Whoop!

Let’s look at the numbers;

Blog3-monthstat1

Total Sales – $7314.06

Plus total stock carried forward – $111.00

Costs

Upfront Stock Expenditure in January – $1302

Further Stock & Shipping – $1125

Promotional Expenses – $1500

FBA Fees – $2300

Marketing Costs – $450

Total Profit – $748

Summary

The upfront stock expenditure was to order our initial inventory of 500 units of our brand new product and was paid out in two parts in December ($652) & January ($650).

As this was launch month our promotional expenses were high due to the amount of stock we were discounting / giving away in order to get reviews, spike our sales and increase our rankings.

I will be writing a blog post on Launching Your Product soon so look out for that.

Also we weren’t going to get caught with our pants down again so we’ve already ordered our next lot of stock, hence the further stock and shipping amount.

Marketing costs include Amazon Sponsored Ads & Press Releases.

All in all, costs are a bit high this month due to two lots of stock orderings included and high promotional expenses. Let’s see what March brings!

Thanks for reading.

Jo :)

 

 

Azon Monthly Stats 1 – December 2014 / January 2015

Welcome to my Monthly Stats post.

This business is so exciting I wanted to record it’s growth from the very beginning and share with you what’s possible!

Hence each month I’ll create a post to show my sales stats on Amazon and also do a quick profit & loss for you so you can see what actually ends up in our pockets!

Please note I will never reveal exactly what my products or branding are. Not because I’m precious about it, I’d much rather give you a warts and all account of my journey.

But the conversion rate of my listings pages on Amazon is paramount to my rankings and I don’t want to run the risk of people just ‘having a look’ as it could have a devastating effect on my sales. Something to bear in mind for your products also.

December 2014 & January 2015

I’ve included December 2014 & January 2015 together as this was my very first product which quite frankly was just a catalogue of disasters from start to finish!

Let’s do the numbers first.

Sales Stats

December

blog2-monthstat2

January

blog2-monthstat3

Total Sales for the two months – $5612

Costs

Stock & Shipping – $1100

Promotional Expenses – $3500

FBA Fees – $1900

Marketing Costs – $1500

Total Profit / (Loss) ($2388)

Mistakes Made & Lessons Learnt!

1. I didn’t understand at the time what a variation relationship was on Amazon.

It’s basically where you have a product and then you have variations on that product like colours or sizes.

It’s not difficult to grasp but there are a few more hoops to jump through.

So I merrily agreed to receiving a multitude of colours of my product, but I had no clue as to what the colours were or how many of each were arriving.

I arranged to have them sent to FBA Inspection which is a great middle man service in the US which receives your products for you and inspects / labels and reboxes if required before sending to Amazon. It’s a bit more money but worth it when receiving stock from unknown suppliers in China.

They separated the colours and let me know numbers etc.

Lesson

Now this in and of itself wasn’t a terrible mistake. It was good to learn about variation relationships on Amazon and an interesting experience to go through, but had I done my research on my product a little more I would have seen that there was one particular colour which seemed to be the most popular and saved myself a lot of time and trouble!

2. The original sample sent to me from the supplier was designed in a specific way so I presumed (never presume anything), that the final product would of course be exactly the same.

So I set about designing all my images and descriptions on Amazon based on that presumption.

Unfortunately the first I knew that the design was actually different from the sample was on a review from a customer!

So having sent out multiple products for review I was now frantically getting photos and changing the image designs.

I know, I know, sounds obvious doesn’t it, but when you’re up to your eyes in all the organising and shipping etc, checking the product is just a small issue at the bottom of the priority pile!

Unfortunately this ended up in a few negative reviews, not what you want when you’re launching a new product.

Lesson – Always know exactly what’s leaving the warehouse. Ask for pictures of your product! As the product owner, it’s imperative you know exactly what you’re selling!

3. The packaging I chose for the product was sub standard and easily damaged in transit.

Therefore when the product arrived with the customer it looked all bent out of shape, which also contributed to some negative reviews.

Lesson – Pick simple but robust packaging that’s less likely to get damaged in transit.

4. Because one of the colours was outselling all the others, we started to give lots of coupon codes and freebies to increase reviews overall and our ranking, with the goal of ordering more inventory of the one colour and having a great BSR (Best Seller Rank) and hundreds of great reviews.

We ordered some more stock at the end of December expecting it’s arrival at the end of January.

Unfortunately our supplier really took his eye off the ball and although we chased and chased, the product was still not ready as Chinese New Year hit. By this time obviously all our stock had sold out (it had gone by the first week in Feb), our BSR had tanked and all the work we’d done on increasing our ranking was lost.

The stock eventually arrived a bit battered and bruised on April 24th. So now we have to start all over again increasing our ranking.

The good news is that we have lots of great reviews and another 4 months experience under our belt.

Big Lesson Learnt here – Typically when you pay a supplier they’ll ask for 30% up front and then 70% prior to shipping. We’d paid the lot on the suppliers assurance it was ready to ship.

Unfortunately we did so via a bank transfer so we had no come back whatsoever on that cash.

If you pay a supplier via Paypal or on a credit card you can reclaim the funds if anything goes wrong. Believe me I wanted my cash back and to tell the supplier what to do with his stock, but we just had to sit on our hands and wait or we would have lost the money.

So always pay via a method that gives you a reclaim option!

Summary

So, that was the start of our business!

Lots of great lessons learnt that we were able to take into the launch of our next product.

You see, things happen, stuff goes wrong. You just have to get up, dust yourself off and crack on!

That’s what we’ve done and I can’t wait to start sharing our growth!

Thanks for reading.

Jo :)