In our quest for your excellence we’re offering more training this week. Check out the Sellers Paradise section, for a free Facebook mini-course, along with a very special free webinar coming up at the end of the month.
This issue we’ve got something we think you’ll be particularly excited about in MBS In The News, along with cool tips for getting the most out of your Advertising tool in Tips & Tricks, a great article on AI in The World Of Amazon, and, of course, the latest installment of The Power Of A Strong Core.
Here’s to a productive week!
MBS IN THE NEWS
We’ve completed the specs for the initial version of our MBS app, and have begun development. An MBS app has been a highly requested feature, and will add a whole new dimension to your ManageByStats …
FREE Facebook Marketing Mini-Course
This course was created by the Facebook Ninja himself, Manuel Suarez, and is designed so that anyone, any brand, whether big or small, can learn the basics of the Facebook Marketing platform and take their business to the next level.
It’s free. You can sign-up and get started now. Learn how to use Facebook to dramatically grow your Amazon business.
A Special Webinar For Our Users
Yes! More training opportunities. Lately you’ve seen us promoting more courses, webinars and learning offerings, and that trend will continue. Call it an expansion of our philosophy. MBS has always been about providing you the tools you need to most effectively run your Amazon business. Knowledge, knowing how to run your business, how to make it boom, is also a tool — perhaps the most important tool — and with that in mind we’ve made it our mission to add focus to things that can help in that area.
Our goal is that you become the best Amazon seller you can be.
To that end we’ve asked our friends, Seth Stevens and Shawn Hart, top Amazon sellers, to put on a webinar covering the methods they’ve used to quickly expand their Amazon businesses from ground zero to multi-millions in annual sales in months, not years.
We’ve asked them to do this as a special benefit we’ve created for you, our users.
It’s absolutely free, of course.
Seth and Shawn will share exactly how you can Select great products, how to Rank them on Amazon easily, and how to maximize Profitability. You’ll also get some amazing “Product Mining” tips, as well as Supplier and Traffic Hacks. This webinar will give you the insight you need to make your Amazon business boom.
Webinar Date & Time:
Wed, Aug 29, 2018 7:00 PM – 8:00 PM EDT
Use the link above to sign up today.
TIPS & TRICKS
This week we cover two features in the Advertising tool that give you an advantage over settings you can make in Amazon’s campaign manager:
- TACOS (Target ACoS)
- Auto Bid adjustment
Note: You’ll need to have the Advertising module enabled in your MBS.
TACOS is what you would like your ACoS (Advertising Cost of Sales) to get to. Starting off you may want to have this be your Profit Margin %, which would mean you are aiming to break even on your ads (spending all profit on advertising). If your Target ACoS was less than your Profit Margin, you’re aiming to make a profit on your Ads. If your Target ACoS is set above your Profit Margin, this would mean you’re aiming to be aggressive and spend any profit and more for ranking purposes. If you set TACOS to be the same as your profit margin on the product, the TACOS Gain/Loss column will show the approximate profit or loss on this on this Campaign/AdGroup/Keyword.
Using the “Columns” button, choose the TACOS column for the Performance section, then select TACOS Gain/Loss for the desired AS (Attributed Sales) section. You will then see the profit or loss based on your target:
Automated Bidding for Keywords can be toggled on if you’ve set a value for your TACOS (Target ACoS). See the section on setting TACOS.
If you’ve set a value for Target ACoS, the MBS system is able to automatically adjust your bid on selected Keywords.
Toggle On/Off Automated Bidding for desired Keywords here:
When On, keyword bidding changes will be done daily (as needed) to get ACOS close to the Target ACOS value. The MBS system does this by looking at the 7-Day ACOS for the 14-day period that ended 3 days ago, then adjusting the bid by comparing TACOS to ACOS.
If ACOS is more than 5% higher or lower than TACOS, the bid is adjusted.
If ACOS is higher than TACOS, the system lowers the bid by 5%.
If ACOS is lower than TACOS, the system raises the bid by 5%.
Once again, in order for Automated Bidding to occur, a value must be set for TACOS, and the Automated Bidding for the selected Keyword(s) must be ON:
THE WORLD OF AMAZON
AI, or Artificial Intelligence, is no longer really a buzzword, and has instead become a fact of life. All major players have implemented AI at some level, from smart speakers to web search and all things in between. ManageByStats, in fact, has begun developing AI components for our tools, with more to come. The possibilities for AI are truly exciting, and properly implemented will give you, Amazon sellers and MBS users, a huge edge on the competition.
In the spirit of that, here’s a great article from Wired, covering how the technology developed for Amazon’s family of voice-activated devices, including the Echo Spot, spurred a larger AI renaissance at the company.
AI isn’t just the future. It’s the Now …
THE POWER OF A STRONG CORE
Week Five and our fifth installment in the series. This week we discuss a subject near and dear to our hearts:
Stats are like the biometrics of your company; the vitals that let you know exactly what areas to strengthen, which areas need help — even where to pour fresh energy to create new business.
Learn the stats you absolutely must know, and how to use them to power your core.
Jack went to ‘John’s Stable’ looking to buy a horse.
“Listen here,” said John, “I’ve got just the horse you’re looking for. Only thing is, he was trained in an interesting way. He doesn’t go and stop with the usual commands. The way to get him to stop is to scream ‘heyhey!’ The way to get him to go is to say ‘Thank God.’”
Jim nodded. “Fine with me. Can I take him for a test ride?”
John got him the horse and Jim was off, thinking this horse sure could run. As he was speeding down a dirt road he suddenly saw a cliff up ahead.
“Whoa!” he screamed, but the horse kept going. “Stop!” Nothing.
“Yoyo!” he screamed. Frantic, he couldn’t remember what he was supposed to yell to get the horse to stop. It was 5 feet from the cliff when, in a blind panic, Jim suddenly remembered.
“Heyhey!” he screamed.
The horse skidded to a halt, just 1 inch from the cliff.
Jim couldn’t believe his good fortune. He looked up to the sky as he breathed a deep sigh of relief, saying with conviction:
QUOTE OF THE WEEK
“Someone’s sitting in the shade today because someone planted a tree a long time ago.”
– Warren Buffett
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