Lunch With Norm
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[LWN] 🦈 The Shark Attack That Left Me In Shock...

[LWN] 🦈 The Shark Attack That Left Me In Shock...

Lunch With Norm's Weekly Newsletter - Tiered Product Discounts, Amazon Legal Updates, And AI Optimization

January 29, 2024 • Estimated Read Time: 12 minutes

🦈 Shark Attack That Left Me In Shock...

In Hawaii, a serene beach day turned surreal when a shark was on the hunt for blood. I saw something that still to this day, no one believes.

What you’ll find in this week’s newsletter:

🦈 The Shark Attack That Left Me In Shock...
🌍 Where in the World Is The Beard Guy
📈 Outrank Using This Tiered Quantity Discount Strategy
🗞️ Amazon News & Updates
🤖 Microsoft’s Latest AI Release

And quick note: Our WhatsApp Group is going crazy right now 🔥 Thank you to our community for sharing your questions, advice, and insight. It’s incredible to see.

🦈 The Shark Attack That Left Me In Shock...

I lived in Hawaii in the 2010’s and one of my favorite things was to head to the beach on the weekends.

The touristy beaches were always jam-packed, leaving little room to truly enjoy the serenity of the island.

Makalavaka Beach on the Big Island was one such hidden gem 💎

After trekking through the lava field to our secluded beach, my friends started dozing off.

Shortly after, I noticed a commotion in the water.

I saw a couple frantically swimming back to shore. Feet away from them was a protruding fin in the water, a 6” blacktip reef shark.

The couple, thankfully reached the shore.

The shark was unbothered and seemed to have its eye on another target.

For context, Makalavaka Beach consisted of one shoreline separated by lava, leading to another beach and more rugged lava formations.

The shark, in just a few inches of water, hopped up on the lava rock and found itself completely exposed on land!!!

With grace, it slithered and slid across the lava, covering a distance of about 5 feet, and then slowly disappeared into the deeper waters.

“Did I just see what I thought I saw??”

The shark crossed to the other side, where it snatched a turtle from the lava and went on its way.

I was in disbelief.

Unfortunately, my camera was nowhere in sight. Something i’ve always regretted not bringing with me that day.

My friends, who were asleep at this time, to this day still tease me saying I made the whole thing up.

Sometimes, valuable opportunities can slip away if we're not prepared to seize them.

My chance to capture an incredible, potentially viral moment was missed due to the absence of a camera.

In business, being prepared to seize opportunities as they arise can be the difference between success and missed potential.

Enjoy the rest of the newsletter.

— Norm

WHERE IN THE WORLD IS THE BEARDED GUY?

Can you find Norm in the picture above? Scroll to the bottom of this newsletter to see the answer!

OUTRANK USING THIS TIERED QUANTITY DISCOUNT STRATEGY

Tip provided by Maureen Mwangi

I think we all know Amazon tracks conversion rate to determine where to rank your listing amongst the search results ✅

Higher converting listings → higher in the search results when everything else is equal.

“Cool. But tell me something I didn’t know…”

Well, Amazon’s conversion rate calculation has a small twist 🤔

Amazon also considers the number of units sold, not just whether the shopper placed an order!

This unique conversion rate calculation is called “Unit session percentage”.

This means brands should be doing everything they can to incentivize shoppers to purchase multiple units of their product.

This will achieve a higher unit session percentage than competitors and likely outrank them in the search results.

An easy way to accomplish this is with tiered discounts ✅

Under the Advertising -> promotions tab in Seller Central, sellers can setup tiered discounts based on the number of units ordered.

The discount you offer should be based upon your products margins, however it may look something like this:

Buy 2 → Get 5% Off

Buy 3 → Get 10% Off

Buy 4+ → Get 15% Off

Set this up for all your products and you’ll see not only increased revenue, but improved rank in the search results and more sales as a result 😎

Check out Maureen’s Startward Consulting for more!

HELP ME HELP YOU

I want to make this newsletter the absolute best for you!

Before scrolling the rest of this newsletter, in the poll below, please let me know what topic you’d like to see me cover.

If it’s not on the list (I was limited) reply back to this email!

Thank you in advance 🙏

I want to learn the MOST about...

WHAT YOU MISSED LAST WEEK

👇 Highlights from last week’s Lunch With Norm podcast episodes👇

What Amazon Sellers Need to Know in 2024

Watch the full episode here

Main Takeaways:

🤖 Start optimizing Amazon listings for AI, rather than solely focusing on customer optimization.
🎙️ Kevin references how to optimize for AI with a specific conversation betweeen Vanessa Hung and Amy Wees that goes into depth about these changes with AI. You can find it here
💪 Be the authority in your space - Utilize newsletters to build a deeper connection with your audience. Personalize content and maintain a consistent schedule
Check out Kevin’s incredible Billion Dollar Seller newsletter 👇
Billion Dollar SellersCutting Through the Clutter for the World's Top Amazon & E-Commerce Sellers

The Big Changes To AI & Selling On Amazon

Watch the full episode here

Main Takeaways:

🤫 AI Product listing videos may soon be coming to the market
✅ Utilize AI for quick generation of routine content tasks, freeing up time for more strategic activities.
👀 Keep an eye on how AI is influencing PPC and SEO strategies, adapting your approach to optimize for AI-driven algorithms.

Prime Profits: Amazon's Prime Video Ad Game-Change

Watch the full episode here

Main Takeaways:

📺 Prime Video Ads offer a unique opportunity to target Amazon Prime members within Amazon's ecosystem.
🤑 The audience segment is known for higher spending and engagement, making Prime Video Ads a strategic choice for reaching potential customers effectively.
💰 Compared to other platforms like Netflix or Disney+, Prime Video Ads are expected to have a lower CPM, providing a more budget-friendly option for reaching a broad audience.

TRIP DOWN MEMORY LANE

Somewhere in the Gulf of Mexico📍

Thank you Carlos and the whole team over at the Online Seller Cruise. It was an absolute pleasure meeting, networking, and smoking cigars with so many incredible sellers… and now friends.

It was a blast and it went by too quick.

If you are in the Miami region or just visiting…check out the Wizards of Ecom - this is the Amazon Meetup space run by the one and only Carlos Alvarez. Network and meet with some of the best in the industry. I highly recommend it.

Let us know what events you’d like to in the future in our WhatsApp group.

THREE UPCOMING PODCASTS

You can watch all episodes on YouTube or on my Facebook page at 12 pm ET on Monday, Wednesday, and Friday!

**Guests and topics are subject to change**

Monday - 5 Legal Updates Shaking Up Amazon

Paul Rafelson - Attorney focusing in the field of eCommerce law
Featured in WSJ, NYTIMES, CNBC, Bloomberg, CNN joins us.
Founder of Seller Basics the first Amazon account assurance subscription program. Use code: NORM for $10 off per month 😎

Watch LIVE 👉 Sign up here

AI Wednesday - Pinpointing Your Wasted Ad Spend on Amazon

Alex Speian - Head of Marketing at Sellerboard
Check out accurate profit analytics for Amazon sellers
Background spans hospitality, automotive, DIY retail, and diverse retail sectors.

Watch LIVE 👉 Sign up here

Friday - 5 Profit Killers In Your Amazon Business

Michael Kaminsky - Co-Founder and Co-CEO of Recast
Trained econometrician with a background in healthcare and environmental economics.
Cutting-edge statistical techniques and building tools that help marketers drive better performance for their businesses.

Watch LIVE 👉 Sign up here

🗞️ AMAZON NEWS & UPDATES 🗞️

Whats happening in the world of Amazon today…

Is Mr Beast Coming to Amazon? 📺 Negotiations may be in the works with Prime TV with #1 Youtuber
Amazon says “NO” to Police 🙅‍♂️ Ring will stop allowing police to request video footage from doorbell video footage
35 million fine heading towards Amazon 💰 France warehouse fined for ‘excessively intrusive’ monitoring of staff
New app growing faster than Amazon and Flipkart 📈 India’s Meesho GMV run rate of over $5 billion
Temu’s most devoted customers 🛍️ Boomers and GenZ finally have something in common….

MICROSOFT’S LATEST AI RELEASE

Brought to you by Skill Leap

Introducing Microsoft Copilot Pro!

Microsoft recently unveiled an upgraded version of Copilot, named Copilot Pro.

This new edition offers several enhanced features:

Users receive prioritized access to both GPT-4 and the more robust GPT-4 Turbo, ensuring faster performance even during high-demand periods.
Copilot Pro integrates with certain Microsoft 365 applicationsFootnote1 allowing:
- 📝 efficient drafting of documents
- 🧠 summarization of emails
- 🖊️ development of presentations and other tasks
Includes enhanced capabilities for creating AI-generated images in landscape format. With DALL-E 3, users can now rapidly produce images, aided by 100 daily boosts, through the Designer tool (AKA Bing Image Creator)