PHASE 6

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PHASE 6 by Mind Map: PHASE 6

1. YOUR PRODUCT IS NOW LIVE AND IN STOCK! HERE'S WHAT TO DO NOW.

1.1. Education

1.1.1. Watch the lessons in Module 6 around advertising and launch advice

1.1.2. Watch webinars 5 & 6 in student only webinars

1.1.3. Watch a couple of relevant lessons in Module 7. "Day 1 on Amazon" and "How to price your products at the start" lessons.

1.2. It would be smart to order one of your products yourself, just to see that everything is as it should be. Have it sent to yourself via MyUs.com or via a friend in the US if you have one. Make sure that it is in the condition that you expected!

1.3. Turn on advertising

1.3.1. Once you have reviews in place, you may want to start trialling some Pay-Per-Click (PPC) advertising inside of Amazon. Rewatch the lessons in Module 6 on this.

1.3.2. PPC can be a wonderful and sustainable way to keep your products ranking well and a consistent stream of profit, all-be-it reduced because of advertising costs on that percentage of your sales.

1.3.3. You have to be patient with PPC

1.4. Start testing your price

1.4.1. Generally speaking, we advise that you start your price lower than where you hope to end up. Let it run a week or more at the reduced price and then, once sales start to gain momentum, creep the price up in increments. How much and how fast is totally variable depending on your niche, price point, initial sales success etc. This is just a guide!

1.4.2. The name of the game initially is to generate sales using Amazon's Pay-Per-Click advertising platform so that the algorithm recognises your new product by virtue of transactions.

1.4.3. With your first shipment, your goal is not to make your full profit margin. That will come in time. You are simply looking to: - get your capital back - establish your listing - discover the price point you can get - test PPC - get some reviews (hopefully) It is your second and subsequent orders that you should aim for profit.