How To Build More Than An Amazon Business. Ryan Daniel Moran Capitalism.com Freedom Fast Lane

Transcription

1 Ryan%Moran%) Ryan%Daniel%Moran%is%the%founder%of Capitalism.com, which%seeks%to%defend%and%promote%capitalism%as% the%way%that%we%solve%the%world's%greatest%problems.%he%also%is%the% co)founder%of%the%multimillion%dollar%supplement%company,%sheer% Strength%Labs.%He%shares%his%thoughts%on%business,%entrepreneurship,% investing,%and%politics%on%the%freedom%fast%lane%podcast.

2 How To Build More Than An Amazon Business Ryan Daniel Moran Capitalism.com Freedom Fast Lane

3 Three Talks The Amazon Launch Formula - You will take off MUCH faster if you build a small community and release your products there. 12 Months To $1m On Amazon - Get one product to 25 sales per day via launches, pay-per-click, and reviews. Then, release new products until you are selling 100 per day. When, Where, And How To Sell Your Business - Everything that you do is building up the value of your business as an asset, and you can sell any time.

4 The Grind Selling One Product With Fewer Than 25 Sales Per Day What You Need To Do: - Run Giveaways To Rank For Keywords - Hustle Your Way To 100 Reviews - Run Amazon Pay-Per-Click Do Nothing Else Until You Are At 25 Sales Per Day Or More

5 The Growth One Product Doing OK, But Not Yet On Pace To Do $1m In Sales What You Need To Do: - Repeat The Process Over As Many Products As You Can Comfortably Handle - Start Building Your Customer List To Make Reviews and Launches Faster and Easier 4 Products x 25 Sales Per Day x $25 -

6 The Gold You Have Several Products Selling Well, But You re Not Sure Where To Go From Here What You Need To Do: - Turn On Outside Traffic - Build Cold Prospect Lists Through Inserts - Worry About Social Media, Video, Branding Go International Or Into Other Channels

7 Are The Good Ol Days Over? Sellers are selling the same exact products, some with the same copy, competing for the same customers, and often resorting to black hat tactics to do so. As a result, many markets are driven only by price, which erodes profit margins and makes it impossible to rank for keywords. Worse, people are treating their customers like numbers, rather than people. And the conversation in our community is monopolized by tactics, rather than growth.

8 Are The Good Ol Days Over? I believe that entrepreneurship and Capitalism are the solution to the world s greatest challenges. But entrepreneurship is about creating something new or solving real challenges, and that is how you make the pie bigger. Is your business solving any problem? If your business went away, would anyone care but you?

9 Amazon Businesses If your business is to simply sell what s selling already on Amazon and nothing more, then you are forced to simply take something out of the pie. It becomes a game of reviews, price wars, black hat, conversion rate, and PPC wars. How Do You Build A Business Bigger Than Just An Amazon Business? How do you make the pie bigger?

10 Amazon Businesses I have an Amazon Business, is another way of saying that you don t have a real business. You do not have an Amazon Business, you have a business that takes orders on Amazon. By restricting yourself to thinking only about Amazon, you miss business principles that determine success and

11 Amazon Businesses Amazon Sales In 2015: $113b Total Ecommerce Sales In 2015: $1.67t

12 Amazon Businesses

13 Real Business Questions Who Do You Serve? How Do You Serve Them? What Are Their Pain Points? Where Do They Hang Out?

14 Commodity vs. Brand What target market of people are your ideal customers? If your answer is, I sell spatulas. = you are doomed to always be a commodity. Commodity businesses can only compete on positioning, price, and reviews. A BRAND is a business that serves a very target market that people choose.

15 Commodity vs. Brand I sell spatulas. What else can you sell?

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18 Who Do You Serve? We serve busy moms who take the time to cook for their children, because families are stronger when they sit down together. Who do you think will show up? What can you sell? - food - cook books - massage stuff - relaxation - kitchen equipment - information products - comfortable clothes

19 Who Do You Serve? We sell spatulas. They are really great. They are sturdy, long-lasting, and they look expensive, but they re not. We have great customer reviews. Want to buy one?

20 Who Do You Serve? We believe that the family is the centerpiece of society, and families and communities are stronger when they sit down together, even if it s over a quick meal. We serve busy moms who still take the time to cook for their children, because every child deserves a home cooked meal with a family who loves them. We sell spatulas. They re really great. Wanna buy one?

21 Action Item #1: Choose This Day Whom You Will Serve

22 Won t That Ruin My Market Potential?

23 Diffusion Curve Theory

24 Even If You Don t Care About Your Customer, Choosing Your Ideal Market Will Create More Sales

25 Action Item #2: Show Me The Pain

26 Show Me The Pain Most Of You Are Selling Heaven, When All People Want Is To Get Out Of Hell No One ACTUALLY Wants To Eat Kale, They Just Want To Avoid Cancer Most People Don t Want to Run Businesses, They Just Want To Avoid Working Most People Don t Want To Work Out, They Just Want To Avoid The Pain Of Being Fat

27 Show Me The Pain

28 Show Me The Pain Why do you buy a spiralizer? Because eating vegetables is so much fun, or because you are trying to ward off disease? Why do you buy weight loss pills? Because you love the thought of being thin, or because you are disgusted by what you see in the mirror? Why do you buy beauty cream? Because you love the smoothness of your skin, or because you fear losing your beauty and value as you age?

29 The Best Ad Ever

30 Personal Story For six years, I had been working out hard with lackluster results. The top personal trainer in Austin costs $5,000 per month, and I said no... Until one day, I couldn t take it anymore. The result? I literally got a year s worth of amazing results in seven weeks. Plus, I referred a bunch of my friends.

31 Giving your target market what they want allows you to charge more money and create raving super-fans. But you have to know who your market is and what ails them first.

32 Example: Julian Bakery

33 Example: Julian Bakery

34 Why This Matters Action Item #1: Know Who We Will Serve, Rather Than Just What We Will Sell Action Item #2: Know What Pain Points We Solve, Rather Than What The Product Is Result #1: We Maintain Profit Margins and Defend Against Competition Because We Have Focused and Raving Customers Result #2: Now, We Have A Business That Attracts Customers Outside Just

35 What Do We Do Now?

36 A: Get In Front Of Your Ideal Customers

37 (AKA Marketing)

38 The Beautiful Thing About Amazon Is That It Automates Everything But Marketing...

39 But We Forgot That Marketing Is Communicating To People, Rather Than Scrambling For Rankings, Reviews, And Price Positioning...

40 Rankings, Reviews, and Keyword Rankings Play A Big Part Of The Startup Process...

41 But it is 6.7% of the total picture.

42 Marketing Beyond Amazon Building An Audience is way easier when you are targeting a group of people who will love you because you solved their pain... Ideal Customers Bring More Ideal Customers Where do your customers already hang out? Get in front of them and solve their pain. The reason that Donald Trump won the nomination is because he kept attention at all costs, and 9% of people resonated loudly enough to go to the polls.

43 A Note On Ecommerce Most people are putting up Shopify stores and expecting to double their revenues Until you control an audience, putting up a web store outside of Amazon makes absolutely zero sense for 99% of you. If your customers love you, they will find you no matter where you are. Think Of Amazon As The Customer Acquisition Center, And Everything

44 Option 1: Organic Attention Putting out content, developing the audience, and hustling social media. Wherever you feel most comfortable putting out content, do it as often as possible (I podcast because I like to talk!). Find others who do the same thing, and put your content out together (YouTube exchanges, cross promotions, etc). Note: it does not have to be you creating content, and it ideally would not be you.

45 Examples Podcast: The Working Moms Podcast YouTube: Quick Cooking Show Families In Real Life Blog The Moms Only Facebook Group I Love Yoga Facebook Page The Important Thing Is To Create Content That Connects With Your Ideal Customer

46 Example: Luxy Hair

47 Option 2: Paid Attention If you don t have attention, somebody does! So go get it! Go direct: sponsor podcasts, blogs, lists, etc that have your ideal customer base. Go broad: put your message into a video, image, or text, and advertise it to your ideal audience (Facebook video, YouTube ad, etc). Start Small: Put your message in front of your ideal audience, and attract the early

48 For every piece of content or ad, ask: Does This Put Me In Front Of The Person That I Serve?

49 Example: ONNIT Aubrey Marcus starts ONNIT and develops a product that he thinks is cool. He calls up his buddy, Joe Rogan, who talks about it on his podcast. ONNIT blows up and is now a $20m+ company. Their main marketing strategy? Sponsor podcasts from influencers.

50 Example: Organifi Drew Canole develops a greens powder that he thinks will improve people s health. He has a bunch of YouTube videos, so he starts talking about it there. He calls his buddies who have YouTube channels and lists and asks to provide useful help to their audience. And oh yeah, Amazon. The Result? Millions of dollars.

51 Where Do I Start? Who Are Your First 1,000 Early Adopters? How Will You Get Them Involved? - Global Mission - VIP Club - Content Marketing - Online Challenge Use Your Early Adopters As Your Reviewers, Ambassadors, and Core Buyers When You Have 3-5 Products Performing, Switch Your Focus To Marketing and Influence

52 Where Do I Start? Who do you want to attract? Start adjusting your listings to attract them. Start Where You Are Strong: do you have existing buyers? Social media followers? Speak to the ones you want to activate. What message could you put in your inserts that would resonate with your ideal audience? Your greatest source will be your existing

53 Action Steps #1 Choose This Day Who You Will Serve - Know Who Your Audience Is, What Their Pain Points Are, And How Your Business Solves Their Greatest Challenges #2 Present Your Solution To Your Ideal Customers - Target Early Adopters and Super-Fans, Who Drive Your Product Into Mainstream Awareness. By Doing So, You Command Higher Prices, Have More Product Options, And Create Ravings Fans No Matter Where You Are Sold #3 Use Your Early Adopters As Your Core Group - Use Them For Launches, Reviews, and Case Studies #4: Market Outside Of Amazon - Go Where Your Audience Already Hangs Out

54 The Result? Higher Profit Margins, Because People Choose You Less Competition and Price Sensitivity, So You Stop Worrying About It All Going Away An Audience That You Control, So You Can Compete In Multiple Channels More Stability and Predictability, So You Can Stop Worrying About Hacks and Start Thinking About Growth Happier Customers, Because You re Doing Good In The World Higher Valuations, Because Your Customer Value Skyrockets Bigger Than Just An Amazon Business

55 Thank You! Capitalism.com Freedom Fast Lane Podcast FreedomFastLaneLive.com