If you’ve been following my story, you know that my primary ecommerce site was hit by the Google Penguin algorithm in April 2012, and it’s been a tough road getting traffic back on track…so I’ve put a lot more of my energy towards selling on Amazon since then.
Well, I’ve received quite a few emails recently asking about selling on Amazon, so I thought I’d provide a quick update on my progress (sorry I haven’t kept up on posting my Income Reports).
If you saw my last post, you also know that I admit I was wrong about the value of the Amazing Selling Machine by Matt Clark and Jason Katzenback. Before I started implementing their advice, I was averaging between $8,000 and $10,000 per month in sales. Most of this followed a similar strategy of private labeling my own items, but after adding one new product by following their system, I’ve doubled my sales in the last 60 days.
I had actually crossed the $20,000 mark yesterday, but I didn’t take a screenshot of it. You can see that my 7-day and 15-day trends are on pace to do better than this, but I’ve actually been out of stock of my new item for the last few days, so my stats will be taking a little bit of a dip. In fact, there were other periods during the last 30 days where my product was in stock, so I expect that I should surpass $25,000 in sales once I’m able to keep up with the demand.
Although I’m proud of this accomplishment, I’m not sharing this information to brag…I’m quite aware that there are people that make A LOT more money doing this than I do, but I just want others to know that this it is possible to succeed on Amazon and there are still opportunities out there. My net profit margin on Amazon has been squeezed a bit, but probably averages about 30% now, so I earned about $6,000 in profit over the last month.
There was an investment of time and money to get my product ready for launch, but I started seeing sales right away – My product officially went live during the last week of May. Keep in mind, though, that I still work a full time job and have a family, so all my online work is done within these time constraints.
If I can do it, then so can you. I can’t say that everyone will see similar results, but I’m certainly energized to keep adding more products using the same system and am in the process of adding a new one that should be live next week.
Note: I’ve had a couple of people personally email me for help selling on Amazon. While I’m happy to answer specific questions you might have (other than what products I sell), I’m afraid I don’t offer consulting services.
Are you having success on Amazon? Are you looking to get started? Post a comment below and tell me your story!