Starting an Amazon business can be a life-changing and highly profitable journey, if you are armed with the right knowledge and have identified the best paths to pursue.
Despite the evidence that proves otherwise, a lot of people still wonder, “Is Amazon FBA dead?” In this interview, Matt Clark, the co-founder of the Amazing Selling Machine, answers that question.
Are you ready to learn from the Amazon selling expert himself? I encourage you to watch this before starting your Amazon business. This is an interview that you don't want to miss.
Watch the video below:
(Click here to watch on YouTube)
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Are you ready to learn how to build a profitable online business selling on Amazon? CLICK HERE to receive instant access to my free video training!
Is Amazon FBA Dead?
In our interview together, Matt Clark addresses this burning question, and shares some top tips for ensuring that you are setting yourself up for success:
You’ve worked with thousands of people to start selling on Amazon. In your opinion, is Amazon FBA dead?
The one thing that you should always look at is how Amazon is doing as a company. Their stock prices and market cap are incredibly high. What matters more is how Amazon is doing in terms of revenue, because if you are selling on Amazon, you are getting a piece of that revenue pie.
Their revenue has been growing like crazy because there is a massive trend in place. When it comes to online purchases, and you look at the statistics, Amazon still only accounts for about 20% of all sales, even though myself and many others feel like we buy 80% of our products online, so the opportunity continues to grow.
More people are buying stuff online and Amazon is there to capture that, so if you are someone who is looking for a place to sell, Amazon is still a fantastic place to do it, and the macro level data proves it to be so.
I also have a lot of anecdotal data from our Amazing Selling Machine members, some of whom are now making $25-35,000 a month. Sure, there’s more competition, but there is still a lot of opportunities, if you know where to look.
Do you see any other online retailers being a threat to Amazon?
We are always on the lookout. We would love for there to be another platform that was a massive threat that you could go sell on, because we know that we can help people figure it out. However, keep in mind that we aren’t Amazon spokespeople.
We could care less if it involves selling on Amazon or selling somewhere else. Amazon is just the best opportunity. It's where everyone wants to buy, where everyone already has a credit card stored, and it's where there is already a lot of buyers, which makes the process so much easier.
If someone wants to get started building an Amazon business, what are some tips that they should know before starting the process?
The model that we've always taught is to not go out there and try to invent a product or opportunity. That's where we've seen people get into a lot of trouble.
If you are creating a brand from scratch, and you don't have anything, then it needs to be a product that people are already buying. That's what we know how to do and what you can capitalize on. It's based on existing demand, rather than a demand that you are trying to create.
How can you differentiate yourself, and stand out from other products that are selling a similar product on Amazon?
At the end of the day, with so many people buying on Amazon, there's a lot of people that may be buying the exact same product, but they all have different needs.
For example, let’s say that you are selling a balancing board. You could have an elite martial artist, whose needs are going to be very different from an 80-year-old person who is trying to do rehab so that they don't fall and hurt themselves.
Those are two completely different needs and products. You could create a whole new product that has some modifications to it. This would involve talking to a supplier about how they could modify the product, which would be easy to do.
Alternatively, you could tailor the marketing, packaging, and instructions to a different market. For example, this could be the balance board for rehab or the balance board for elite performance. There are many different ways that you can narrow in on your market.
I encourage you to start doing research. If you find a product that looks like a great opportunity, read all of the reviews and descriptions, and if that concept makes sense for that market, you will find patterns in there, where people are like, “Yeah, this product is great, but I had this issue.” That is one way to differentiate with an existing opportunity.
Another way is, if you want to go after the same market, but you don't necessarily want to go after a niche within that market, focus on making the product better. Look at what they are doing wrong and make the same exact product, but better – better instructions, packaging, and quality.
Address some of the concerns that people are having, so that you aren't carving out your own niche, but rather you are just creating a product that will be more attractive to people.
I hope my interview with Matt Clark has inspired you to get started building your Amazon business!
In summary, Is Amazon FBA dead? No, it’s still very much alive, and it will continue to grow and expand. If you have been thinking of starting a business and have the desire to create financial freedom, leveraging the power of Amazon is the way to go.
Since starting my Amazon business, my life has changed dramatically. I encourage you to stop sitting on the fence, take massive action, and start building your Amazon business. If not now, when?
Are you ready to learn how to build a profitable online business selling on Amazon? CLICK HERE to receive instant access to my free video training!