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MBS This Week - Issue 2118

FIRST WORD

“News for the informed Amazon Seller.” This Week’s Lineup
  • Ask The Guru
  • Your Q & A
  • Our New University
  • 10 Instagram Tips
  • Amazon Tightens Targets
  • MBS On The Web
  • Humor & Quote
 Hello & WelcomeWelcome to a new week, a fresh opportunity to continue turning the dial on your success. As David says in our Quote Of The Week, “Mondays are the start of the work week which offer new beginnings 52 times a year!”We hope you’re all as excited for Monday as we are. :-)Check out our Tips & New Stuff this week for info on how you can get free online PPC training. Get some Instagram tips under E-Comm Insight. And be sure what the Guru has to say this week ... 

ASK THE GURU

We’ve been running this new segment now for a few weeks, and it’s been getting rave results. We’re happy to see you taking advantage of what the Guru has to offer! :-)We intend to keep running it, as a service to you. Submit your biggest questions right here:Ask The Guru A Question Your Q & AQuestionWhat’s the best way to know how to set your amazon price?AnswerWhen it comes to “The Perfect Price” there are no perfect answers. I can tell you from a lot of experience that the price you decide on at first will almost never be the perfect price.We tend to price our products based on what we see others sell for, or what we believe we would pay for it. Let me tell you that folks in California are willing to pay almost twice as much as folks from Arkansas.Take into consideration that YOU are not your own customer. Price, just like everything else, needs to be tested to find “The Sweet Spot” where you maximize your profits.You can use a mailing list, Facebook group, PPC ads (off of Amazon), or multiple listings on Amazon to discover the best price that allows you to sell the maximum number of units before you see any fall off on sales.Keep in mind that your price and your market will change over time. Make sure to stay in tune to your industry and stay relevant to what your customers are expecting or someone more savvy may come along and eat your lunch.Split test everything you can and never go to sleep satisfied that you have all the answers. Always testing and trying to beat your control should always be a priority. I’ve discovered that selling a bit less units but at a 60% higher price is best in some cases, and I’ve discovered that dominating the market with an aggressive price is better in other cases where our goal is to grow a huge customer list for later remarketing of complementing products.Certain price points are attainable without much friction, but only to a point. You need to test to find the ceiling in your price point.For example, you may find no friction or falloff in sales from $12 all the way to $19, then at $20 you’ll begin to see some pressure. Just imagine selling 10,000 units at $12, when you could have been at $19 and didn’t know it because you didn’t test.This means you have left $70,000 dollars on the table… not good!In case you’ve missed it, there is no perfect price. Each product offering needs to be tested and all results are product/market dependent. 

TIPS & NEW STUFF

Our New UniversityDid you know … ?It’s always fun to start a conversation that way. Everyone loves to discover new things, and “Did you know …” offers the promise that you’re about to learn something cool.Which, in this case, is very true.Did you know we have our very own University?We’ve been working hard to upgrade and expand this great service, because, hey, knowledge is king.And here’s an even better “Did you know …”Did you know our premier course, Amazon PPC from Beginner to Pro, is free?Yes indeed. For a limited time you can sign up and get this course for free.Check Out The MBS University 

E-COMM INSIGHT

10 Instagram TipsSince Instagram’s creation, it has grown into the ultimate platform for sharing photos.Over 1.16 billion monthly users are active on the site. Daily users spend about 8 minutes on the app and 500 million use Stories daily.There’s also a large number of influencers on the site with a massive amount of followers. And with the right plan, you can become an influential brand, too ...10 Powerful Instagram Marketing Tips (That Actually Work) 

WORLD OF AMAZON

Amazon Tightens TargetsThird-party sellers using Amazon’s marketplace have become used to the rules the e-commerce giant has implemented.The company changed the rules of e-commerce delivery with its Prime offering several years ago, and now the benchmarks it created for Amazon customers with Prime are quickly becoming the standard for all sellers in its platform.Amazon already tightened the screws a bit on Feb. 1 when it required sellers to meet “delivery speed targets” for packages. As of June 1, those targets are getting even tighter ...Amazon Tightens Shipping Requirements 

MBS ON THE WEB

This week …ManageByStats Opens Doors To Online University For Amazon Sellers 

HUMOR

Who’s bigger, Mr. Bigger or Mr. Bigger's baby?Mr. Bigger’s baby, because he’s a little Bigger.__Initially I didn’t believe my chiropractor was any good.But now I stand corrected.__I said to the gym instructor, “Can you teach me to do the splits?”He said, “How flexible are you?”I said, “I can’t make Tuesdays.”__My wife dated a clown before she started going out with me.I had some pretty big shoes to fill. 

QUOTE OF THE WEEK

“Mondays are the start of the work week which offer new beginnings 52 times a year!” - David Dweck To your success,Your ManageByStats Team Read Our Newsletters Online! Share Your Thoughts About ManageByStatsWe’ve made it easy to leave a review: Tell Us What You Think About MBSThanks for taking a moment to give us your feedback! And don't forget to share ManageByStats with your friends. Our affiliate program pays you an ongoing 25% referral commission. See the Affiliate menu under Settings in your ManageByStats.