Post Purchase PRO Podcast - Episode Twelve - Pricing Your Amazon Products For Maximum Profitability

Post Purchase PRO - Profitable Email Marketing For Amazon Sellers

This is the post Purchase Pro Podcast, episode 12.

I found out that we were leaving over $50 per customer cur month on the table, and for our business, that meant that we were missing out on $105,000 every single month.

Alright, guys, the Episode 12 is the one I've been looking for.

The Post Purchase Pro podcast, we're going to be talking about: testing prices, why it's so critical, and how most of the time you can get away with charging a lot more for your products and your services.

And doing a better job of providing an amazing product experience for your customers.

So, everybody wins, you make more money, and your customer actually has a better experience. Shawn, let's jump into this.

Yeah, for sure, Welcome to Episode 12, Pricing Your Product for Success. Now, the reason I say price your product for success, doesn't necessarily mean that you're not already successful.

All I want to do is kind of tikal that area of your brain, that makes you believe that you possibly priced your product correctly right out of the gate.

We often make this mistake, because what happens is, we fall into the trap Seth of, where we think that we are, our own customer, We think that in my area, my corner of the world, in my opinion, this widget should be priced for X based on the value that I put in that product.

But Seth, we always like to fall back on the whole scenario. It's not your job to answer. The question, says, it's your job to ask the question. So it is imperative to the success and long term growth of your business, to make sure that your pricing, then we'll call that sweet spot.

So I said, what Emma said, Seth having to know how to price the product, and Seth said, Dan Kennedy said it best.

How to price your product.

Maximum price that you can say out loud without cracking a smile like I just did there. So, how does that ring true in your experience?

I mean, we find out Later on that you're selling a product You've been selling for years and Leaving over $50 per customer per month on the table.

How does that make you feel as a business person instead?

at the average Joe?

you're a brilliant marketer, a brilliant businessman.

You've had years of success both on Amazon and off How do you feel when you look back and say, my god, I left over $100,000 per month on the table by not having an optimized price Well, first of all, Shawn don't don't go so far as to love me and with those brilliant people.

3:05

I don't think I would classify myself in that way, so, but thank you for saying. You know, you really were, Yeah, Hey.

3:15

Serve me up some humble pie or hey, so shall I think that the big problem is, especially when you can launch a product so easily on Amazon or e-commerce, you can jump into a price, so easily just based on what you see in the marketplace, or what you think in your mind, something worse worth. And that's the worst thing to do. So you become biased to what's working.

3:37

So this happened to me, and I had this vivid memory that you're recalling shot of when we discovered that we were charging $50 too little for a product. And I'll tell you why. We knew it was too little in a second.

3:51

But basically, when you set a price on Amazon and it starts to sell, then what happens? What you think, well, maybe that was the perfect price. It's working. I am making sales, I better not touch it. And you can fall into that for a long time.

4:07

So this product that we were selling, We were actually selling it for about $20.

4:11

So 1999 was our price, and we sold it OK. It was an OK product. But it was an electronic product. It was actually a hearing a