Are you flogging a dead horse?
Is your product no longer raking in the dough?
It can be a difficult decision, but sometimes you’ll need to drop a dead-end product before it sucks the life out of your Amazon business.
If you’ve ever been in a romantic relationship that went nowhere, you know that there comes a time when you need to pull the plug and dump their arse.
The same goes for selling on Amazon.
Okay, you may not have romantic feelings toward your product (at least I hope not!) but you’ve put in time and money to get the item out there and yet, it’s not making you any money.
So, what should you do if you suspect you’ve got a lame duck?
The first thing is to figure out WHY it isn’t working – this normally comes down to three core reasons…
Reason #1 You’re selling it wrong
Your product could be fine, but the way you’re selling it isn’t.
This could be your images, title, details page, lack of reviews… something about the way you’re portraying your product is turning would-be customers away.
One way to determine if this is the case is to check Amazon’s Unit Session Percentage Report. This will tell you the rate of visitors to your page who end up buying – if it’s less than about 15%, then you need to fix something.
What to do: Fix it
Reason #2 Not enough people are finding it
Awesome product, great details page, you know that people want your product… yet, no sales.
If this is true for you, it’s probably because your item isn’t getting in front of those who want to buy it.
You need to boost the traffic to your product listing with Amazon PPC ads, Facebook Ads, Google, YouTube, Instagram… whatever method fits your niche.
What to do: Fix it.
Reason #3 Nobody wants your product anymore
Maybe it was selling like hotcakes just a few months ago but now, sales have plummeted.
This could be due to changing fashions or new and improved versions now on the market, either way, the opportunity has passed by.
Not sure if your product is out of favour? Use MerchantWords or Google Adwords to check how your search term has trended over time.
A big mistake made by sellers is to continue selling an item when the market has clearly moved on. Yes, it sucks, but now’s the time to find the new trend and not waste any more time on a product that no one wants.
What to do: Dump it!
There’s an old concept in recruitment that could easily apply here too.
“Hire slowly, fire quickly.”
Do lots of research, create an extraordinary listing, market like there’s no tomorrow – do everything you can to give your product a fighting chance of success.
And, if it turns out to be a dud, get rid before you sink more time and money into it.
Good luck everyone!
Hugs and kisses!