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- [LWN] 😮 Silence is Golden... When Laziness Pays Off
[LWN] 😮 Silence is Golden... When Laziness Pays Off
Lunch With Norm's Weekly Newsletter - Lightning Deals, Retail, and Chat GPT
🤫 Silence is Golden
During a trip to the Mediterranean, I accidentally discovered that silence in negotiations is a surprisingly great business tactic.
What you’ll find in this week’s newsletter:
🤐 Silence is Golden [True Story]
🌎 Where in the World is Norm
⚡️ 3 Ways to Boost Your Lightning Deal [Quick Tip]
🤔 In Case You Missed It
🎙️ Upcoming Episodes
🗞️ Amazon News & Updates
💡 Retail’s Most Frequently Asked Question
👰♀️ Honeymoon Influencer Campaign [How to]
🌎 Upcoming Events
Be part of the beardiest WhatsApp Group in the Amazon/eCom space 🔥
[True Story] Silence is Golden 🤐
Let me tell you about a lesson I learned while cruising in the Mediterranean with my wife, Connie. You won’t believe it.
Three weeks of relaxing, exploring, and just having a blast, little did I know this would lead to a strategy that I would use 25 years later.
Before I left, I was negotiating with a Chinese supplier. He had given me a price that I found too high. I asked if they could provide a lower price while maintaining the quality.
That was my last email to him.
Three weeks later, I came back, turned on my computer, and I had at least 10 emails from the supplier and with every email the price went down.
His last email, offered a final price, and without doing anything, I ended up with an awesome deal and a signed-off spec sample, which they honored.
So, without knowing what I was doing it, I came up with a negotiating strategy that works and applies in business today.
I learned about patience.
A lot of times, we're too quick to jump in and land that deal.
It really can be a strategy when you don't answer right away.
IMPORTANT: This only will work if both companies win. If not, you will lose a supplier, or you will face quality issues.
I’ll be quiet now, so you can read the rest of the newsletter.
If you know someone who might enjoy my stories, share this newsletter with the link below 🙂
— 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!
AMAZON QUICK TIP
Boost Your Lightning Deals' Performance With Outside Traffic ⚡️
This tip is brought to you by Levanta
When you promote your Lightning Deals beyond Amazon, you attract more viewers and increase conversions.
Here’s three effective ways to drive outside traffic:
Schedule a campaign to your email list when your Lightning Deal is live. Highlight the deal's irresistible offer and encourage your subscribers to grab the opportunity.
Use Google's PPC ads to reach a wider audience while your deal is active. Set low cost-per-click (CPC) bids to maximize your budget and target highly relevant keywords.
Collaborate with relevant affiliates in your niche to promote your Lightning Deal. Encourage them to share your deal with their followers at the right time so their audience can benefit from the discount.
Amazon recognizes your positive performance and boosts your product's visibility, leading to even more sales.
This external traffic strategy is a surefire way to multiply your success 🔥
WHAT YOU MISSED LAST WEEK
👇 Highlights from last week’s Lunch With Norm podcast episodes👇
Optimize Competitor Targeting: Use the competitor information from Product Opportunity Explorer for targeted advertising. Focus on product targeting across ad types (Sponsored Products, Sponsored Brands, etc.) to effectively reach potential customers.
Prioritize Branded vs. Non-Branded Campaigns: Separate branded and non-branded campaigns for better control and to set appropriate target ACoS for each. Use negative keywords in non-branded campaigns to maintain clarity.
**Beard Note: I recommend specifically watching this episode on YouTube. There’s a ton of great information that frankly can’t be expressed in bite size bullets.
AI-Driven Product Development: Ask AI for unique product ideas targeting your audience and then refine these ideas.
For Example: Request 12 product ideas using Andrew’s Prompt list from AI, then shortlist and expand on the most promising ones with AB testing with tools like PickFu or Prolific
Build Effective Email Sequences for Product Launches: Develop a 4-part email sequence: Teaser, Launch Announcement, Last Chance, and Follow-up.
Use AI to help write these emails, focusing on product features and benefits.
Grab all of Andrews list ➡️ ChatGPT Prompts list
Low Inventory Level Fees: Amazon's new fee structure aims to penalize sellers with low inventory (less than 4 weeks). To avoid extra charges, maintain adequate stock levels.
Importance of Aged Inventory Management: Amazon now charges aged inventory fees, increasing every month after six months of storage. Be proactive in managing long-term storage to avoid escalating costs.
Preventing Overage Fees: Plan for potential overage fees, especially during high-demand periods like Prime Day. Bid for additional storage space well in advance to secure better rates.
Utilize SoStock’s free tools like product resizers or carton pallet optimizers to save on fulfillment costs
Get up-to-date news with Amazon each week with Carbon6/SoStocked Amazon Seller News 🗞️
TRIP DOWN MEMORY LANE
Cosmopolitan in Las Vegas.📍
Left to right - Guillermo Puyol, Manny Coats, Me, Elena Saris and Marianne Lo. Kevin King was hiding somewhere.
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 our Facebook page at 12 pm ET on Monday, Wednesday, and Friday!
**Guests and topics are subject to change**
Nick Penev co-founded Xtreme Power brands in 2010
Developed and launched 20+ Private Label Supplement brands across Europe. Exited all brands in 2020.
🏠 Fully Remote since 2010! Long before it was cool 😎
Cyber Security Specialist
Consults the White House, and hosts his top podcast - ALL IN with Rick Jordan.
Made appearances on CBS, Fox, NewsNation, Cheddar and more.
Rick founded ReachOut and took it from startup to a public company without the influence of outside money from private equity.
scientist and practitioner of local and e-commerce search engine optimization and paid search advertising.
Author of SEO Strategy & Skills
Worked with Disney, Linksys, Belkin, Public Storage, Honda, Skechers, Applebee's, IHOP, Dole, and others.
Keys to success? An emphasis on strategy, planning, and campaign oversight.
🗞️ AMAZON UPDATES & NEWS 🗞️
NEW AMAZON FEATURE 🚨 Sponsored Brand video now supports vertical video!
Amazon is changing sellers titles with AI 😡 Amazon sent an email a few weeks ago saying they were going to use AI to optimize titles: **Credit: Amy Wees**
GPT Store Scheduled for Next Week 🏬 OpenAI confirmed the much-awaited launch of the GPT store, set to occur in the upcoming week.
Amazon shuts down another key business ⛔️ Amazon’s brick-and-mortar grocery stores have been put on pause
Amazon pushing employees to quit? 🤔 Senior AWS dev claims Amazon is encouraging employees to quit in a push to covertly cut numbers
💡 RETAIL CORNER
Provided by Talor Ofer from Retail Empire
One of the FAQs that we are hearing quite a lot:
Q: What happens if a retailer doesn't sell my products successfully? Can they return them?
A: Generally, retail agreements don't operate on consignment. This means once a retailer purchases your products, they are responsible for selling them. Returns are not standard practice.
HONEYMOON INFLUENCER CAMPAIGNS
This breakdown was provided by ZonVids
The Honeymoon period on Amazon refers to the first several weeks to months that your listing is active on the marketplace.
During this “Honeymoon” period, Amazon is assessing the various performance metrics on your listing which are used to determine where your listing ranks in the search results.
For this reason it is imperative that you have a strong start!
Amongst the best strategies is to arrange video placements with influencers before you create your listing on Amazon.
Did you know Amazon Influencer videos will show up in the “Related Videos” as Shoppable Videos
Negotiating and scheduling influencer videos can take anywhere from 2-8 weeks.
Therefore if you wait until after your listing is live to start coordinating with influencers, you may be beyond the honeymoon period by the time the influencers post their content.
If timed correctly you’ll have influencer videos being published just days after your listing is created.
This means you’ll be generating substantial organic traffic and conversions on your listing when they matter most!
This is highly impactful to your listing rank and is a great way to establish a long term, successful product listing on Amazon.
Influencer placements can be posted on the popular social media platforms; Instagram, TikTok and YouTube, however the best results are generated by post on Amazon’s native shoppable video platform Amazon Live.
Shoppable videos and Amazon Lives help build awareness, trust and drive traffic
Note: You will need at least one video on your carousel placement for Influencer shoppable video to show up.
Amazon Live placements can be arranged by contacting influencers directly, or try ZonVids to book influencer placements on Amazon Live instantly!
UPCOMING EVENTS
MARK DOWN THESE EVENTS!
Jan 9 - 11 - Las Vegas - Starting at $1995
Jan 21 - 28 - Miami - Mexico - Starting at $300 + Cruise ticket
Feb 25 - 29 - Cancun - Mexico - Members Only
March 4 - 6 - Las Vegas - Starting at $399
May 18 - 23 - Kauai - Hawaii - Starting at $4997
What did you think of today's email? |
And that’s it, Beardos!
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P.S. Make sure you don’t miss any updates by joining our community here.
See you next Monday!
- Norm
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