What is going on YouTube?!
Thank you so much for coming back to my channel.
In today's video, I want to show you the number one thing that I do for Amazon product research
before I place my order with my supplier.
We will be using Helium 10 Magnet today to figure out what we need to do before we decide
100% on our product.
So if you are new to my channel, please subscribe.
Let's get started!
So what do I mean by this?
I need to have a launch strategy in place before I place my order with my supplier on
Alibaba.
I need to know exactly how much I am spending and how I am going to launch my product to
the first page.
Basically this is like any other business, we need a business plan, right?
We need to know exactly what we are doing in this business before diving right in.
We don't start selling hot dogs if we don't know how to make hot dogs.
It's exactly the same thing.
So we don't want to start selling a product if we don't know how to sell it.
So we need to figure out a business plan, our launch strategy.
Today we will be focusing on giveaways.
You can also rank your product to the first page by using PPC.
However, today we will only be talking about giveaways.
And the number one thing that I do before I place my order.
So what is this?
This is basically... for myself, I am finding out how much I have to invest and how much
I'll be spending in order to make this product on to the first page.
You cannot just source a product and just leave it up on Amazon in hopes that it will
sell.
It will never work out that way, okay?
It will absolutely never work out.
You need a business plan and you need a launch strategy.
So I'll be going into my computer and showing you exactly what to do step by step in order
to figure out how much you need to spend so you get an idea of how much you need to start
investing to make this product successful.
So let's dive right in.
Okay guys, we are now in Helium 10.
I am inside my Magnet Keyword Research right here.
And let's just say I am selling everybody's favourite, garlic press.
So before I place an order with my supplier, I need to figure out whether this garlic press
is worth it.
I need to see how much money I'll be spending in order to rank for specific keywords.
And in order to have this business plan in place, I need to see how many units I need
to give away to rank.
And this video is based solely on giveaways, we are not going to talk about PPC ads today.
Let's just say, I want to rank for "garlic grinder" and "garlic mincer" because I see
that they are pretty good keywords with decent volume.
This is a really big keyword.
We want to stay away from really high keywords for now, only because I find that with lower
volume keywords, it's pretty good as well for new sellers because you're giving away
less units.
So how do we know how many units to give away?
It shows you right here.
So if I'm trying to rank for "garlic grinder", I'm giving away 27 units a day, and total
of 216 units in a period of 8 days straight.
So right here it says, basically this is based off of an 8 day period.
So why do you need 8 days?
Because it takes Amazon algorithm to figure out how many you're selling in order to rank
you up to the first page.
So right here it's saying we need to give away 216 units for "garlic grinder" in order
to appear on the first page.
For this guy however, "garlic mincer", we only have to give away 136.
However, do keep in mind that this is a much lower keyword.
Not many people are searching this compared to this.
This is almost double, and their giveaways are almost double.
So this is where you do the math.
So let's just say I'm going to go with "garlic grinder", I want to give away 216 units.
So let's just say, it costs us $2 for a garlic press.
So that's $2 multiplied by 216.
That's $432 already that we're spending just to give away our units to rank for "garlic
grinder".
Now, do remember that there are FBA fees as well.
And there is a shipping fee.
So let's start over.
Let's just say it costs us $2 to source and $1 to ship by air, per unit.
So that's $3 multiplied by 216, that's a total of $648 plus your FBA fees, and plus the price
you have to pay using a launch service.
I use Launch Gator right now and it's $300 for 3 keywords.
So if you want to rank for "garlic grinder" and "garlic mincer" and "garlic peeler", you're
going to have to include the fees for these guys right here too, not just 216.
This 648 is just for 216 units, landed cost.
Now, for the $648, we have to include the FBA fees.
Every time Amazon helps us ship our product to the customers, there's an FBA fee.
So the fees are right here.
Let's just say, on average, your FBA fee is $3.19.
So if I take out my calculator.
I'm just going to erase this.
3.19 multiply by 216, so that's another $689.04 for your FBA fees, and there is an extra $1
for every single unit that you ship out because that is the lowest referral fee.
If you discounted your products at 90% off, there will be a $1 referral fee.
So that's plus 216 because that's how many units we are giving away.
So now it's $905.04, plus our landed cost earlier right, for $648.
So that's just about $1500, plus we have to pay Launch Gator to launch our products for
$300 for 3 keywords.
So that's including $300.
So it will cost you nearly $2000 just to launch your garlic grinder, one keyword, giving away
216 units.
This is a pretty scary number.
I mean, unless you have done the proper research for your product, and you are fully confident,
and you have to make sure you have money in the bank for this amount, then go ahead.
Go ahead and launch garlic grinder.
However, I know that this is a really big amount, and if you include these other guys
right here.
If you want to rank for these two other keywords, then you're going to have to do the math for
this as well.
So obviously this is just the guide here but I want to show you guys the FBA fees that
you have to pay, the referral fee, the launch service fee, and the price of your product
with the landed cost.
So make sure you do the math before you pay your supplier.
Please, please do not source a product without doing your math.
This is the biggest piece of advice I can give you guys.
Do not make the mistake of going through Amazon blindfolded and not knowing your fees.
I almost strongly suggest you guys to get a tool that helps you do all the homework
as well.
Again, this is Helium 10 Magnet, this guy right here, Keyword Research.
And obviously this tool can do a lot of other things but we're only going to focus on Magnet
today.
I do have a 10% off code for you guys, it's "FBAWINNERS".
If you are interested in doing more research for your product before making any mistakes.
I strongly suggest you to get this tool.
Okay guys, I hope this video has helped you a little.
I know that math can get really confusing at times.
Just make sure you do all your research for your numbers to make sure you have the initial
investment for your products.
Please give this video a thumbs up if you liked it.
If you have any questions, just comment below, and please subscribe to my channel.
I'll talk to you guys next time.
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