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www.getwsodo.com www.getwsodo.com ASM7 Module 1: 7 Elements of a Hot Opportunity When combined with our ASM criteria, these 7 elements provide the perfect blueprint for selecting viable, profitable products. This Lesson Covers: 1. Best Seller Ranking (BSR) 2. BSR of the Competition 3. Number of Reviews 4. Reviews of the Competition 5. Price 6. Private Label Potential 7. Profit Margin 1. Best Seller Ranking Best Seller Ranking (BSR) is Amazon’s way of ranking their products. Think about it this way: It is the demand for the product on Amazon. An item’s BSR calculation is based on Amazon.com sales and is updated hourly to reflect recent and historical sales of every item sold on Amazon.com. BSR gives buyers and sellers an idea of how many people are buying a particular item. Copyright © 2017 Amazing Selling Machine www.getwsodo.com www.getwsodo.com BSR is ranked by number, with #1 being the highest number of sales (or, highest demand). Each top-level category has its own BSR, and these are the numbers that you will primarily be concerned with. You will see the phrase “Primary Product” used in this course, and it is one we use while searching. Basically, it is the first opportunity of a specific product. 2. BSR of the Competition Compare two competing products against the primary product, to prove the viability of an opportunity. To do this, you will need to find the BSR of the two competing products, by looking at the keyword search for the primary product. This process will become clearer once you start actually searching for a primary product. Essentially, you will find out whether the two competing products are also in demand. 3. Number of Reviews Amazon product reviews are built over time, and products with lots of reviews are much harder to compete with. So, try to find a product with good BSR and a low number of reviews. Copyright © 2017 Amazing Selling Machine www.getwsodo.com www.getwsodo.com 4. Reviews of the Competition The number of reviews of the two competing products can be just as important as those of the primary product, because you do not have to be #1 to have a profitable product—just being on the first page can be enough. For example, if the primary product has a high number of reviews and the competition has a low number, it could be easy to to reach spot #2, which is still profitable. However, if the next 10 competing products have a high number of reviews, the product may be too competitive! 5. Price Find a product that sells for $19 to $70. This ensure that your profit margin is high enough. Selling a lower-priced product can make your profit margin too low to allow for your advertising and promotions. 6. Private Label Potential Make sure that the product you are looking at can be sold by you, as your product, under your own brand. This allows for much greater expansion and scaling as your business grows. 7. Profit Margin Do not plan to sell at the lowest price on Amazon—make sure you are aiming to sell at the premium price. Rather than engaging in a “race to the bottom,” take every step in this course, and you will be able to compete with a better product, at a higher price, and Copyright © 2017 Amazing Selling Machine www.getwsodo.com www.getwsodo.com increase your own profit margin. We recommend aiming for a minimum of 25% when it comes to your profit margin. You will have a better idea of your exact profit margins once you start talking with your suppliers, but it is still possible to estimate those margins, as you will see in an upcoming lesson. Take the time to go back through this lesson, and make sure you have a good understanding of what makes for a profitable product, before you move on to the next lesson. When you have done that, head to the next lesson, where you will learn what the most profitable Amazon categories are. Copyright © 2017 Amazing Selling Machine