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In this episode of the Cart Insiders Podcast, we welcome serial entrepreneur, founder of EcomCrew, and host of the EcomCrew Podcast, Mike Jackness. As a business owner currently selling on Amazon a respected authority on selling on Amazon, Mike goes deep into tips for maximizing your Amazon store sales this holiday season—including discounting strategies and paid product listings.
Mike starts by discussing the importance of solidifying your supply chain and logistics, drawing upon previous experience to suggest that those with the most complete and comprehensively-stocked inventories will ultimately gain the most profit this season.
In terms of pricing and discounts, Mike explains why this year he is choosing profit over revenue by avoiding discounts. He’ll go into why he believes the loss of margins, inventory, and extra workload isn’t worth the revenue. In fact, Mike is considering increasing pricing, and he’ll explain how the trend of self-gifting plays a role in this strategic decision.
Mike goes on to share his tips for Cyber Weekend, discussing his methods for bringing value to customers without cutting into margins. He goes on to explain the importance of building a community through curated lists and the strategy of offering discounts only on products that need to be shifted to selected customers.
While pricing is one aspect of your Amazon listing, gaining awareness of the product is another battle. Mike opens up opportunities with paid listings, sharing a personal story and offering words of caution when it comes to automating your ad spend. And while he believes paid advertising should be ramped up overall, he’ll discuss the paid ad trends on key dates such as Black Friday.
Mike then shifts gears and provides tips for optimizing product listings and ways to differentiate from other sellers. At a time when customers are going to be flooded with similar product images, Mike believes that lack of image optimization is the number one overlooked aspect during this busy period.
Listen to the entire story, including Mike’s number one overall tip for holiday preparation.