Amazon’s New Social Media Codes, Wasted Ad Spend, and Long-Term Storage [Episode 28]

Hello EBO’ers:

Welcome back to the E-BusinessOnline Podcast – this is Episode 27 where we’re talking about Amazon Seller Fulfilled Prime and some of the pitfalls in purchasing liquidation lots for resale.

DON’T FORGET THE CONTEST TO WIN ONE HOUR OF FREE E-Commerce COACHING!
***CONGRATS TO JODI KLINE, our January 2018 WINNER of one hour of free consulting/coaching.***

I want to kickstart our EBO Community so I’m hosting a fun little contest to offer a ONE HOUR FREE CONSULT with me for your e-Business.   This can be by phone, Skype, or if you are within travel distance of Southeast Georgia or Northeast Florida and want to come to St. Simons Island, GA and hookup, I’ll buy you lunch and we’ll talk shop for over an hour.    This is worth hundreds of dollars so you wanna win!   You can earn as many as three entries into the contest by doing any of the following:

  1. Send me an email letting me know you’re listening to the show.  (Put “Podcast” in the subject line!)  I’d like to hear your thoughts, what you’d like to see in the show, questions, constructive criticism, etc.   This gives you an entry.
  2. Leave a written review on the iTunes Podcast.   (you will need to email or tag me with your review username when published)
  3. Share this podcast on Facebook.   (You can share this post, or better yet, go to the page on iTunes and share it from there – see screenshot below).  When sharing you will need to TAG the E-BusinessOnline Facebook Page so that I know you shared it.   When you share the podcast to Facebook I won’t know (and give you another entry) unless you tag the Facebook Page, so don’t forget!

Today’s Show Topics:

  • Amazon announces new “Social Media Coupon Codes” and gives sellers their own landing page to promote discounts.   This can be a great way to easily get a landing page with your promotions to share on social media.   One of the biggest advantages is that Amazon gives you settings to control the # of units a customer can buy and how often.  It’s also an Amazon-built landing page so the customer is one click away from ordering your product.   The biggest disadvantages is your loss of control on design and the ability to collect email addresses to build your list, as well as the inability to add your retargeting pixels (Facebook, Google, etc).
  • How much wasted ad spend do you have?   This is a question I was forced to address when my friend, Jon Kragh, owner of MySellerPal.Com, messaged me on Facebook to take a look at his new tool that shows this at-a-glance.  I was shocked to find nearly $3,000 in wasted ad spend in the past 60 days.   “Wasted Ad Spend” is those keywords that have clicks, costing you money, with no conversions (orders).   Whether you use a tool like MySellerPal, Ignite, or just download the search term report in Excel – this is something everyone should check on.   The surprising thing was that the wasted ad spend wasn’t a few expensive keywords, but was hundreds of cheap keywords that added up to thousands of dollars.
  • February 15th is the date Amazon will charge Long Term Storage Fees (LTSF) on aged-inventory.   Be sure to login to Seller Central and go to Reports > Fulfillment to find your aged inventory and possible LTSF so you can avoid these fees by removing inventory or discounting it to liquidate prior to the deadline.

I’d love to have EBOers report back on what they discovered in “wasted ad spend” – let’s see how much wasted ad spend we can report and more importantly, LET’S DO SOMETHING ABOUT IT!

If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed to have future articles delivered to your feed reader.

Questions about E-Commerce? Join our free E-BusinessOnline Facebook Community to network with other sellers and also like our E-BusinessOnline Facebook Page for more news and articles.