Even though I have been working hard things seem to take a lot longer than they should, or at least as I expect. But there has been definite progress.
We’ll start with my Amazon FBA, or if we are thinking longer term my ECommerce brand. The situation is that I have around 800 units in stock at Amazon.co.uk and my current sell rate is averaging around 5 or 6 units per day. However on Friday 22nd January 2016 sales started to go a little crazy. I ended up selling 15 units that day which is fantastic, but this got me slightly worried.
I fully expected this to be a one-off spike but if it was not I would run out of stock within 2 months, and since the process of getting more products manufactured and shipped takes around 2 months I needed to get more stock ordered just to be safe.
I contacted my supplier in China and was told that manufacturing could not start until April 2016. I was a bit shocked at this but it is Chinese New Year in February and a lot of workers take a few weeks off. This has 2 consequences, one of course is that my products cannot be manufactured, and the other is that other peoples orders get queued, thus creating a bit of a backlog.
I tried to get things bumped up a little but apparently this is the quickest they can do this for me. Ultimately this is not the end of the world, if I go out of stock I go out of stock. As it happens sales have dropped to the 5 or 6 a day level again, although yesterday (Friday 29th) I made 13 sales. Also I can use this time period to really push on with the website around this brand, which I need to do.
Along with ordering more of my product#1 I have been looking to add more products to the range. I have ended up choosing 4 new products, which is a bit of a gamble but this time delay has made me realise that if I want this venture to progress quicker I needed to force the issue a little. It’s a calculated risk with all new products being directly related to my initial product that is selling well, so cross promotion will occur, plus I will bundle (or at least offer discounts if people buy things together) to help increase sales of the new products.
In total I have 500 of each of the new products, so 2000 units in total, plus 1000 more units of my 1st product, making 3000 units in total. Including shipping this will be around the £10000 mark so a pretty large investment.
I still need to design the packaging, get Amazon product labels (which I am going to get printed directly onto each product box), and sort out a couple of other things but this order is in motion. I paid 30% of the product cost yesterday to confirm the order and get my products booked in to the manufacturer ready for when the workers return after the Chinese holidays.
As well as spending time sorting this Amazon stuff out I have been working on my online course. The module I am on requires me to write 10 keyword researched articles, so it is taking me a little time. As I write here I have completed 4 of these articles, so 6 more to do and then I still need to publish them on the website (which I am creating in real time for the course).
On this subject I watched a Perry Marshall video where he walked through how to write copy for a product you are promoting, and it got me thinking a lot about how to best promote this course when it is ready. I had given this a lot of thought in the past but this Perry Marshall video planted some great ideas into my mind.
I’m now thinking of creating personalised landing pages for different groups of people based off an answer they give me to a question. My course will appeal to a few different groups of people, so in stead of trying to appeal to all of them in one webpage I will speak to each of them slightly differently. Also, the actual course itself can be personalised or at least tweaked a little for each group of people. All of this should help conversions so it is something I am looking at seriously. I have invested a lot of time in creating this course so I need to invest time in the promotion of it.
OK, this will do for this post. I have done a few other bits and bobs but my main focus recently has been my physical products and my online course. I do want to mention a meeting had yesterday with a guy from a company who specialise in shipping to Africa. I was introduced to him at my co-working space when he mentioned to someone about looking at getting products made in China (to then distribute to Africa).
We talked about our respective businesses and it came to a point where he said he may be interested in selling my products to the African market, which would be something that interests me. It was just a 1st chat but we have exchanged contact details so this may (or may not) lead to something in the future.
Have a great day