Estonian Roundtable with 7+8 Figure Amazon Sellers
On this episode of Seller Sessions, the hosts (Danny & Adam Heist) sit down we a group of successful Estonian sellers to discuss the challenges faced by Amazon sellers in general and how to overcome them. The Estonian crew share their experience with finding the “sweet spot” for their product to generate the most sales. They also discuss the importance of community in solving business problems, as well as the need for a solid plan to succeed in the industry.
Episode Topic: Finding the Sweet Spot for Amazon Sellers
– The team’s goal is to find the “sweet spot” for their product category to generate the most sales velocity.
– Ivan negotiates in China to determine how to achieve the right price point and required velocity.
– The team focuses on the market and sweet spot first.
– Internal workshops help them realise their biggest mistake in not mentioning the market earlier.
Key Takeaways:
– The importance of community in a co-working space, including non-Amazon experts.
– Building a tool for keyword targeting and the importance of relevance and being realistic.
– A discussion of the challenges Amazon sellers face this year versus last.
– The importance of finding the right market before the product.
– The necessity of managing expenses, detaching from unsuccessful products, and building a product pipeline.
– Pay-per-click is a necessary evil and a significant cost centre outside of factory cogs.
– The team’s pivot from product development to finding a suitable market to populate with five-figure products.
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