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No.1 Amazon Marketer: "Why I lost $250,000" - Harsh Realities and Lessons for Longevity in eCommerce
Manage episode 417061369 series 3559456
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Steven Pope is the Founder of My Amazon Guy (MAG), a full-service marketing agency known as the “Wikipedia of Amazon knowledge” that serves 300-plus brands. MAG provides over 1,500 tutorial videos on YouTube, educating hopefuls on how to grow sales on Amazon. Steven helps clients grow through onsite and offsite channels, including SEO, SEM, and social media. With over a decade of experience in corporate marketing and e-commerce, he’s worked for multiple product brands, including serving as the Digital Marketing Manager for APMEX, Inc., which achieved 10 million additional website visits under his direction.
In this episode…According to a study conducted by Marketplace Pulse, only 0.003% of the top 50 Amazon sellers reach $100 million in sales, and only 23% of the platform’s bottom sellers achieve $100,000. These astoundingly unfavorable statistics are often influenced by Amazon’s shifting logistics landscape in response to competition. How can you achieve profitability without exhausting your resources?
Having sold an Amazon brand after experimenting with various product categories, Steven Pope says that while Amazon is still the industry giant, platforms like TikTok and Walmart are rising in consumer popularity. Amazon sellers must diversify their portfolios and sell on multiple e-commerce platforms. However, as competition thickens, Amazon will raise its fees, so you should respond by identifying new products and categories to remain nimble and innovative. Additionally, while Steven once disputed retail arbitrage, he now maintains that you can make hundreds and thousands of dollars a month by buying and selling profitable products from other retailers.
Join Rolando Rosas in the latest episode of What The Teck? as he sits down with Steven Pope, the Founder of My Amazon Guy, to talk about selling on Amazon in a shifting landscape. Steven addresses the future of the platform, the importance of embracing and learning from strategic failures, and the characteristics of successful Amazon sellers.
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