Making the jump from small-time eCommerce seller to million-dollar earner is no easy feat—but it is possible. So if you're ready to take your eCommerce business to the next level, put these tips into action and start seeing results.
1. Build an Amazing Product + Brand.
From the very beginning, think like a billion dollar brand.
Do I have the resources to become the best seller in my target niche?
Money, Team, Network.
Do I have the passion to push past the inevitable barriers?
What motivates you?
Recommended reading - Simon Sinek's "Start With Why".
What is my unique selling proposition (USP)?
Think like the brands that disrupt markets.
File intellectual property early (trademarks, patents, copyrights).
2. Build a Five Star Listing
Conversion rates are the pistons that drive the sales flywheel.
How do you plan on convincing your target audience to buy your product?
Branding is key - It’s less about your product and more about how you present it.
Recommended reading - Robert Cialdini’s "The Psychology of Persuasion".
Reciprocity, commitment and consistency, social proof, authority, liking, scarcity.
Don’t be a hero when it comes to your listing.
Hire an internal team that has experience creating amazing product listings.
Outsource to an agency that creates amazing product listings.
Nail all the important areas of the listing.
Title
Bullet Points
Images
A+ Content (have you started the trademark process?)
#3 - Source for Success
Top Three Competitor Rule - Order the average of your top 3 competitors.
Fire bullets first, then unleash the cannons.
Order ~1k units to test.
Ungating, channel barriers, listing issues, negative feedback, etc.
Then order the average of your top 3 competitors to prepare for launch.
From our experience, the biggest sellers will source 20k-50k units depending on competition.
Inventory is the most underrated aspect of product launch.
This plays a BIG part of the search and ranking algorithm.
If you do not have the inventory to justify a top spot, why would they give it to you?
Be ready to restock.
Have a reliable restock / inventory management software with your next shipment(s) ready.
Factor in delays.
Multiply lead time by 2 as a rule of thumb.
#4 - Launch Like a PRO
Master product launches, or partner with someone who has.
The Secret Sauce:
Drive traffic to your listing from multiple sources.
7-8 weeks for existing, 5-6 weeks for new products (see honeymoon).
Honeymoon period is key:
About 5-6 weeks after your first sale.
During this time you are indexed for every KW, then deindexed if they don't convert.
Launches are about twice as effective (in terms of ranking).
Internal traffic is good, external traffic is MUCH better.
Start with all internal ads (PPC, Headline Display, Product Display, Sponsored Brand).
Then set up external ads (Facebook, Google, YouTube, Pinterest, etc.).
Ideally you want to be gathering feedback from these first customers.
#5 - Drive Traffic Post Launch
Success comes from initiative and persistence.
Take the initiative to drive traffic from both internal and external sources post launch.
Target similar KWs that you targeted in your initial campaigns!
Get creative and partner with agencies that can help drive traffic - it will likely be less expensive than doing it yourself!
Do sustainable follow-up campaigns.
Less units, longer timeframe (30-60 days).
Half the promoted products targeting your top three KWs.
Keep your most relevant KWs ranked and converting well.
Use our EvergreenBX feature to setup evergreen launches, to sustain launch at a discounted rate!
With our software, you can create a follow-up Evergreen launch.
Longer campaigns targeting top KWs to keep them relevant.