What To Do When Your Product Is Not Selling - Fix A Failing Amazon FBA Product in 2023

Summary

In this informative video, Neve addresses common issues hindering product sales on Amazon, focusing on visibility and consumer interest. He emphasizes the importance of data-driven strategies over intuition, highlighting key metrics like sessions and unit session percentage. Neve provides actionable tips for improving conversion rates, including optimizing product images, maintaining high review ratings, and strategic pricing. He also introduces a tool for testing image effectiveness and discusses the concept of price anchoring to find a competitive edge. The video concludes with an offer for Neve's Ecom Limitless program, featuring one-on-one mentorship for scaling Amazon FBA businesses.

Takeaways

• 🔍 Two main reasons for poor product sales are either the product is not discoverable or there is no demand for it.
• 📚 The speaker offers free course-level information for those unable to invest in Amazon FBA programs or not ready for one.
• 📈 Data is preferred over intuition to diagnose issues with product listings on Amazon.
• 📊 Two crucial data points to analyze are 'sessions' (traffic to the listing) and 'unit session percentage' (conversion rate of visitors to buyers).
• 🚀 If sessions are low but conversion rate is good, the issue can be addressed by increasing traffic to the listing.
• 🛑 A low unit session percentage is a more serious issue, indicating that the product is not appealing to visitors.
• 🎯 Common causes for a low unit session percentage include poor pricing, unattractive images, or insufficient reviews.
• 📸 High-quality images that utilize the full space provided by Amazon can significantly improve product appeal.
• 👀 Use eye-tracking heat maps to understand where customers focus their attention on the product page.
• 📈 Use tools like Pikfu to conduct polls and determine which images or aspects of the listing are more appealing to potential customers.
• ⭐️ A lower star rating can drastically reduce conversion rates, emphasizing the importance of product quality and customer satisfaction.
• 💰 Pricing strategy should involve anchoring your product price between the highest and lowest available, adjusting as reviews and brand perception improve.

Q & A

What are the two main reasons a product might not be selling according to the video?

The two main reasons are that people can't find the product or they don't want the product.

What does the speaker suggest as a better approach to solving problems with a product listing compared to using intuition?

The speaker suggests using data to solve problems rather than relying on intuition or subjective assumptions.

What are the two main data points discussed in the video to determine issues with a product listing?

The two main data points are sessions, which is the amount of traffic the listing is getting, and unit session percentage, which measures how many people visiting the listing are actually buying the product.

How can one access the page that shows unit session percentage and other related data?

One can access this page by going to performance, then business reports, and selecting detail page sales and traffic by child item.

What is considered an easier problem to fix when it comes to product listings: low sessions or low unit session percentage?

Low sessions is considered an easier problem to fix because it can be addressed by paying for traffic to get more people to the listing.

What are the three most likely culprits for a low unit session percentage according to the video?

The three most likely culprits are a bad offer (wrong price), bad pictures, and low or insufficient reviews.

How can eye tracking heat maps help in understanding what elements of a product listing are most important to customers?

Eye tracking heat maps show where people are looking most on a page, indicating which elements such as the product image, price, and reviews are drawing the most attention.

What is the significance of using the full image space provided by Amazon for product photos?

Using the full image space makes the product more commanding and eye-catching, which can help it stand out from competitors and demand more attention from potential buyers.

What is the recommended approach for ensuring that your product photos are effective in converting potential buyers?

The recommended approach is to use a polling website like Pikfu to compare different photos and see which one is more preferred by potential customers.

How does the video suggest dealing with a product that has received a bad review?

The video suggests improving the product based on the feedback, providing great customer service, and ensuring the product is of good quality rather than assuming it's a competitor's sabotage.

What pricing strategy is discussed in the video to ensure a product is competitive in the market?

The pricing strategy discussed is 'anchoring,' which involves setting the price between the lowest and highest available for similar products to find a middle ground that is neither too low nor too high.