Today, I want to share with you an interesting case study I recently conducted and the opportunity that arose from it.
A few weeks ago, a former student of mine who is an Amazon seller reached out to me, explaining that he needed my assistance. He had around 4,000 products in stock that he no longer wanted to sell and was considering asking Amazon to dispose of them. However, just before taking that step, he wanted to see if I had any ideas.
I pondered what could be done with such a substantial quantity of relatively sought-after products. I reached out to an Israeli associate living in the United States who was an Amazon affiliate (a marketer earning referral commissions from Amazon). Over time, he had become one of their largest affiliates.
I proposed to help the Amazon seller, and he revealed his website's data and his customer statistics:
His website had an average of 2 million monthly visitors.
He had an email distribution list of half a million people, with daily email open rates of approximately 150,000.
We generated a 50% discount coupon code and scheduled the email to be sent out the following morning.
The results can be seen in the following image:
Within roughly two hours, 3,627 units of the product were sold! The remaining products (approximately 300) sold by the end of the day, driven by the energy and boost provided by Amazon's search engine promotion.
I immediately realized that his list had real power. Therefore, I conducted an additional experiment with one of my products, offering a 25% discount coupon, and then another product with a 35% discount coupon.
In both cases, dozens to hundreds of units were sold within minutes, catapulting the products high in the search results. One of them even earned the "Best Seller" label in a fairly competitive category for 24 hours.
I understood that it would be a waste to not leverage the potential of his list. If I could bring in other sellers willing to offer coupons of 25% or more, both the sellers and he would benefit. He would provide real value to his customers.
In summary, there are thousands of affiliate websites on the internet marketing products to Amazon. Most of the products sold there are offered at the exact price they are sold for on Amazon (and the marketer earns referral commissions from Amazon). If you offer a specific discount to the marketer's customers, their conversion rates will increase, and it will likely be more cost-effective than traditional advertising.
I highly recommend exploring opportunities on the internet and reaching out to as many marketers as possible to collaborate and experiment.
For any question or inquiry, feel free to contact me here.