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EP21: You Won’t Believe How I Make $1,591 Profit P/M Selling An Ultra-obscure Product On Amazon.


Warning the following podcast has been classified
as insanely lucrative listener discretion is advised but I took what they offered and
I doubled that for the offering that I was going to make so for example if they’re offering
one bunny scratcher okay I’m giving two bunny scratchers to people that buy your attention
please listening to the am/pm podcast may cause recurring revenue streams and unfair
unfair advantages over your competitors other0 side effects may include fatter wallets9 fired
bosses and longer vacations listen at your own risk here’s your host seven-figure entrepreneur
and online marketing madman Manny Coats hello everybody and welcome to the am/pm podcast
my name is Manny Coats and I will be your host and this is the show where we discuss
how to generate recurring revenue streams 24 hours per day during the a.m. and the p.m.
hence the name of the show as a matter of fact my girlfriend is waiting for me so I’m
gonna get through this as quickly as i can and then we’re going to go grab some wine
and some kebabs and we will be making money while we eat and drink how
cool is that pretty cool I think so today I want to talk about a product that i’ve talked
about in the past something that i carry that is my lowest selling product at least out
of the successful products and it’s that really weird product that i talked about and some
of my previous episodes without saying what it is let’s just call it or assume it is a
something really weird how about a pet rabbit scratcher now if there’s such a product my
mind is blown so because i’m using i’m just making this up but let’s just assume we’re
talking about pet rabbit scratchers now the product i’m just going to give you the results
now and then i’m going to tell you how I got there because I think it’s got some important
lessons to be learned so as of right now the product generates about 37 sales per week
that’s what it did last week and it’s actually growing it keeps getting bigger every single
week the profit on that product for that week was three hundred and seventy dollars so that
comes out to fifteen hundred and ninety-one dollars per month in profit okay this is after
i pay my amazon fees my shipping fees my supplier fees 1591 dollars that goes into my bank account
guys this is for this really weird product and again it’s growing now the advertising
spend on this is about it’s it’s pretty pretty high it’s three dollars per day three dollars
per day that’s it and I wish you could go higher but you know it’s it’s tough my ACOS
right the cost of actually advertising for the entire last month was four-point-seven
percent so it’s really good really low the majority the sales now are coming in organically
so the Amazon fees ok that’s the FBA and the referral fees are under five dollars now the
product itself by the way i generate roughly between nine and ten dollars profit per unit
so it’s it’s pretty solid so how did I get here alright so I have one competitor one
that’s it this niche doesn’t have room for more than one person so I have to push this
guy out I know it sounds nasty but it’s there’s only room for one of us you know and I just
had that one competitor so he’s got to go so I I took what they offered this product
right I did the research and everything and I found found something that was similar I
thought maybe even better but I took what they offered and I doubled that for the offering
that I was going to make so for example if they’re offering one bunny scratcher okay
I’m giving two bunny scratchers to people that buy and instead of that instead of charging
them $19 like my competitor does for one of their bunny scratchers I’m selling two of
my bunny scratchers as a pack for 17.95 okay so I’m cheaper than they are and I give twice
as much value in terms that they get two products instead of one so I wanted to provide crazy
value for anybody that was looking for this product and that’s that’s tough because not
many people are looking for this product wooden bunnies scratchers or pet rabbit what did
I call it pet rabbit scratcher I don’t know so anyways I wanted to provide crazy value
and I did all of the things that I talked about in my earlier podcast to get the listing
set up real nicely right to get it online to get the titles and bullet points and everything
else set up the way it should be now I only got one review just one that’s it 1 review
before I actually started launching my pay per click and trying to actually build this
thing up okay I only got one review because it’s such a weird niche and I was actually
embarrassed to ask anybody to review it so this whole process just started with one review
and to put things into perspective my competitor had over 21 reviews when I started this so
everything’s up everything’s running I’ve got my lovely wooden bunny scratcher online
and I start up my paper click on amazon and i run it for a week and i’m busy running my
other products and getting things going so I don’t pay too much attention to it because
it’s honestly it’s not generating any kind of serious sales so it’s out of sight out
of mind kind of a deal so I was spending less than ten dollars per day on pay per click
and almost no sales were coming in maybe one sale every day okay and that was spread out
over the whole campaign so after a week I let it run for I left the paper click run
for about a week I decided to spend a little time and look into the product and it almost
honestly guys it didn’t deserve my time because it was such a I guess like a crappy performing
product right i mean one sale per day I just didn’t feel like I had the time to devote
to actually going in and messing with it i was like huh you know it’s gonna be a failed
product it happens move on but i thought about it I’m like you know what I did actually spend
a lot of time initially researching the product looking at my competition or my one competitor
sourcing the product testing that product when I got the samples and so on right so
I had some time invested in it so I thought I might you know I at least owed it a little
bit of time to to go in and see what I saw at least in the pay per click and see if there
was anything I could do so I reviewed my paper click search term report the one that you
can go on Amazon you can set to automatically produce a report for you daily if you like
or I just manually go in and get the report and I noticed that only a few select keywords
were actually converting out of all the all the clicks that were coming in only a very
very few number of keywords were converting but the rest of them just weren’t doing anything
they were generating clicks but not converting at all in fact I would say probably the majority
of the clicks we’re going to just a couple keyword phrases and I think that people were
accidentally clicking those I think they were probably looking for like let’s let’s just
assume like a rabbit foot a lucky rabbit foot and they were clicking into this rabbit scratcher
product so there was just no conversion at all on those now upon closer inspection there
were a couple keyword phrases like i mentioned that had sales not a lot we’re talking about
again one sale per day and that was over the entire campaign okay but I started noticing
something mm-hmm the ones that did have sales they all had a theme what do I mean by that
well imagine for a minute that a specific customer search term something that somebody’s
looking for on this product was rabbit scratcher okay that’s what we talked about all right
now the turn that I saw a few impressions for that we’re actually converting had size
variations in the search term so what I mean by that for example is that instead of just
rabbit scratcher I would see a search for large rabbit scratcher or medium rabbit scratcher
small rabbit scratcher right big rabbit scratcher different variations of sizes within or before
the term rabbit scratcher you get the point and i know i’m i’m jumping back and forth
between bunny scratcher and rabbit scratcher just forgive me but big scratcher a big bunny
scratcher medium bunny scratcher small bunny scratcher guess what I did well I did what
I hoped you guys would do I went back to my product listing and I edited that listing
I made sure that I added all of those size keywords to my bullet points okay I wanted
to make sure they’re in there so for example I might add something like this to my one
of my bullet points I would say this product is perfect for large medium and small rabbits
or bunnies whatever whatever it is that the term you’re you’re going for right but I made
sure that I said this product is perfect for large medium and small rabbits that’s it BAM
done all three size keywords are now my bullet points if I wanted to add stuff like instead
of large I want to put big or I want extra i would i would add those okay so i’d make
sure that those things were added into the bullet points because the bullet points as
we all know actually rank they get indexed amazon will show your your product when someone
does a search for those does that make sense I hope it’s all like clicking right now so
I wanted to increase the amount of searches or not searches the the amount of times my
product actually comes up when someone’s search for that kind of stuff but it wasn’t showing
up before because I didn’t have those terms in my in my listing anywhere so now I’ve added
them and i’ve added them in a really important place i’ve added them to the bullet points
okay now what do i do next i move all of these sized specific search terms okay big again
we’re talking about big rabbit scratcher and or big bunny scratcher and small bunny scratcher
I take all of these and I move them into an exact match manual campaign okay and if you’re
not familiar with manual campaigns there’s automatic campaigns pay-per-click campaigns
that make it very easy to get started and then you have your manual campaigns right
so you have exact match phrase match and then broad match an exact match what that means
is that somebody has to type in exactly in the same order the word or phrase that you
have in there so if I have if my exact match is large bunny scratcher and someone were
to go to Amazon and type in bunny scratch or large that’s not an exact match they didn’t
type it in exactly how I have it and yes guys I know that I’ve said it before if you’ve
listened to my podcast you’re you’re probably saying Manny you always say you don’t do manual
campaigns and I get it i’m starting to see the light i’m doing it more and more right
i do it occasionally but i’m doing it more and more as i go i’m seeing the advantages
and as i free up some time as i’m able to delegate some of my tasks it gives me a little
bit more more time and actually so it’s kind of fun to go in and see how i can tweak beings
and try to improve things but before when I first started out yeah no I just didn’t
I didn’t have the time I would just remove stuff by putting them into negative keywords
but anyways I’m getting off subject here what do i do after this I put them into the exact
match manual campaign and I remove them from the auto match I’m not the automatch the automatic
campaign I just add them as a negative for the automatic and that way they don’t show
up now I place my pay per click bid at five dollars crazy right five dollars but don’t
worry about it that doesn’t mean I’m going to be paying five dollars per click I just
wanted to see if I could drive more traffic I was going to keep an eye on it for the first
hour and see what happened and honestly not much happened okay there’s just not there’s
not enough people searching for bunny scratchers of any size so I didn’t get a ton of traffic
and even with a five dollar bid since nobody else is actually bidding on this exact search
term my actual cost per click was cheap not even close to five dollars curious what it
is or what it was it’s still pretty close to that it was eight cents each that’s what
I was paying even with a five dollar click or or bid so it’s eight cents so it’s nothing
right I get a lot of clicks unfortunately there’s just not a lot of clicks to be had
so before I was getting almost no clicks on my main search term with the size in front
of it like we just discussed okay but now I was actually getting a handful of clicks
each day just a handful not a lot the next day though it was even more and eventually
I had a couple handful of clicks every day so my sales started to go up obviously because
I’m getting I’m getting more clicks I was getting one sale per day then it doubled I
mean how often how awesome is that right your sales double yeah they double to just two
sales per day and eventually after a little bit of time it got to about six sales per
day and that’s as high as I’ve been able to get it without actually obsessing over the
process and trying to squeeze out another another two sales a day maybe I guess if I
put enough time into it but now that that would take up too much time and I’m just not
going to be doing that for now so at this point I think my one competitor took notice
they probably saw something was going on right like wow I’m I’ve lost half my sales or whatever
I don’t know how many of the sales they were generating but I know the estimated sales
based on the tools that we have but we were taking a good good amount of their sales what
do they do they lower their price and they lower it by about four dollars okay so they
go from essentially 1999 to 1599 okay i know right the nerve these guys so they underpriced
me by about two dollars okay 15.99 I was up there a couple dollars higher fine whatever
it happened so what do I do i drop my price there at 15.99 all right I’m going to drop
two dollars below them i go to 13.95 and i can still make about ten dollars per unit
at this price point it’s crazy right I mean it’s it’s nuts because the cost for actually
making this product getting it out to Amazon and having them fulfill it for me is super
cheap it’s just such a small cheap product so anyways about ten dollars per unit even
at this price so they have the choice now they can try to match me or they’re just going
to move on and and they don’t they don’t match me they cant I don’t think I don’t think they
can because I don’t think they’re sourcing it anywhere close to the point or the price
point that I’m sourcing it I think that I’m I’m sourcing the product twice as many remember
my product offering gives twice the value of there’s too many scratches versus one of
theirs and I bet you I’m doing it for less than they’re paying for their one so here’s
the thing this weird little product generates over 2,200 dollars in sales each month and
then after expenses after all the expenses we talked about it’s 1591 dollars in my bank
account every month that’s after paying amazon the supplier UPS the whole nine yards right
to get it shipped out here everything 1591 dollars in my bank account for a product that
by even by my standards in terms of like look for products that have you know this number
of reviews or less than these number of reviews and at least this amount of sales it wouldn’t
qualify because that the number of sales just wasn’t there this was an experiment I mentioned
this back in one of my earlier podcasts it was clearly an experiment to see what would
happen if i can get into a super super niched niche but get into something that’s just really
weird super low volume and see if I can dominate and that’s what happened so it’s my easiest
product to source by far okay I ship them all by Express air I don’t deal with boat
or sea shipping at all because I can fit hundreds of them honestly in a in a single box they’re
super light they’re super small they’re the least expensive item to source and ship so
I have enough inventory right now at amazon to last me many months so it’s one of those
set-and-forget type of products right so yeah I have one competitor probably not for long
I’m not sure but they they do a crappy job at pretty much everything their images don’t
look so good they’re listing is not optimized I mean I honestly I took over this niche in
just a couple months and it was super cheap to get into right I just had to do a little
bit of digging with the research to actually find this product and I think the lesson here
is that you know you guys could do the same thing if you haven’t taken a step if you haven’t
put your foot in yet to actually get started because you’re not sure what you need I’m
here to say that you can find these little gold mines these little nuggets everywhere
right and oh and guess what guys as of right now the product only has five reviews that’s
it it’s been running for you know what for a couple months now and outside of the one
review that I got initially four of them are organic right so that’s it I got four and
I run all these customers through this really incredible email funnel system that converts
like crazy on all my my other products all right it gets them to leave reviews but this
product man it’s so freaking weird that people just don’t want to review it they don’t want
their name on it that’s why I only have four new organic reviews on it but as I was saying
there’s thousands of products like this you know there’s weird little niches weird products
probably more than the thousands there’s got to be there’s so many and you just need to
do good research and then you need to use good marketing on your product you know on
the listing the promotions you got to be smart about it you got to do oftentimes the opposite
of what people teach you to do but you got to put a little bit of a little bit of effort
into it and yeah you can make anything work I think so that’s kind of it guys I wanted
to tell that story if you have questions about it I might you know I jumped around a little
bit I might have missed something or skipped something let me know you know go to ampmpodcast.com
and leave me a message there you can either write it out or leave it on the voicemail
you can also go to our facebook group the High Rollers am/pm podcast facebook group
if you go to ampmpodcast.com the link to the Facebook group is on the right side and yeah
leave me any questions you might have it’s really cool I’m probably going to try another
one of these small weird little niches later on this year when I have a little bit more
time I think it’s fun and I’ll talk about that so just wanted to give you an update
it’s pretty cool it’s at six sales roughly per day now I bet you as it grows organically
which is what it’s doing now it’ll probably get up to maybe hopefully about 9 or 10 sales
per day and that’ll put my revenue earnings on this product at over two thousand dollars
net per month so that’ll be awesome alright guys that’s all I’ve got I hope you enjoyed
this podcast I will talk to you guys next time take care bye bye you’ve been listening
to the am/pm podcast hosted by Manny Coats for more information insider tools and to
get the resources mentioned in this episode visit ampmpodcast.com.

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