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U.S. Based Amazon Agency Full of Softball Players!
Jeff Lieber is the CEO of TurnKey Product Management, where he helps brands launch and grow their Amazon sales. Jeff began consulting Amazon businesses after the success of his pet and baby product brands. He now sells eight figures on Amazon and is passionate about teaching other sellers the strategies they need to achieve similar results.
Before this, Jeff worked in the financial realm, serving as a Financial Analyst at The Retirement Group. He was also previously a Senior Consultant at Triage Consulting Group.
Here’s a glimpse of what you’ll learn:
- [02:10] Jeff Lieber explains how the success of his pet products business inspired him to create TurnKey Product Management
- [6:44] The value of joining the Amazon Vine program
- [09:02] What are some of the supply chain challenges facing Amazon sellers?
- [15:58] How to adapt to change to remain successful
- [19:05] Jeff talks about the benefits of video advertising on Amazon
- [24:28] Why you should create an effective launch plan for your Amazon products
- [30:35] The importance of leveraging multiple sales channels for next-level growth
In this episode…
You’ve created a first-rate product and launched your Amazon business, but it’s not performing as well as you’d hoped. Now what?
In the saturated Amazon marketplace, it can be difficult for your product to stand out. According to Jeff Lieber, a successful Amazon seller and consultant, the key to growing your e-commerce brand is to utilize trending advertising tools and strategies. By leveraging proven methods like Amazon DSP, video advertising, and Subscribe & Save, you can effectively improve your product listings and increase your conversion rates.
In this episode of the Quiet Light Podcast, Joe Valley sits down with Jeff Lieber, the CEO at TurnKey Product Management, to discuss how to grow and scale your Amazon business. Listen in as Jeff talks about his proven Amazon advertising techniques, the importance of leveraging multiple platforms to reach your audience, and how to create a revolving door of revenue for your e-commerce business.
Resources Mentioned in this episode
- Jeff Lieber on LinkedIn
- TurnKey Product Management
- TurnKey Product Management Resources
- Quiet Light
- Quiet Light on YouTube
- Joe Valley
- Mark Daoust
- Quiet Light Podcast email: [email protected]
- The EXITpreneur’s Playbook: How to Sell Your Online Business for Top Dollar by Reverse Engineering Your Pathway to Success by Joe Valley
- Zack Leonard on the Quiet Light Podcast
- Justin Kelsey on LinkedIn
- Amazon Vine
- Amazon Subscribe & Save
Sponsor for this episode…
This episode is brought to you by Quiet Light, a brokerage firm that wants to help you successfully sell your online business.
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If you’re new to the prospect of buying and selling, Quiet Light is here to support you. Their plethora of top-notch resources will provide everything you need to know about when and how to buy or sell an online business. Quiet Light offers high-quality videos, articles, podcasts, and guides to help you make the best decision for your online business.
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Hi, folks, it’s the Quiet Light Podcast where we share relentlessly honest insights, actionable tips, and entrepreneurial stories that will help founders identify and reach their goals.
Joe Valley 0:29
Hey, folks, thanks for joining us again on the Quiet Light Podcast today we’ve got Jeff Lieber from TurnKey Product Management joining us. And I’m not going to say too much about Jeff and his business. I’m gonna let him say that all I can tell you is that we have very close friends in common. If you go to Jeff’s website, you’ll see folks like Ryan Daniel Moran giving him an endorsement, Ezra Firestone, who you guys know, I love giving him an endorsement. That’s enough for me. We’ve got some other things in common as well. He’s doing some great things for large Amazon sellers. He’s going to share some of the tips today. And we’ll dig deep into what you can do to improve your Amazon business, whether you are a seller and own an existing one, or if you’re buying one and you need to level up that business that you just bought. So Jeff, welcome to the Quiet Light Podcast.
Jeff Lieber 1:21
Thanks for having me, Joe. It’s a pleasure to be on here with you have an awesome show and put out some of the best content out there.
Joe Valley 1:27
I appreciate that. Appreciate that. Just just blowing smoke right up my you know what i That’s good stuff, man. Good star. Why don’t you tell us a little bit of everybody in the audience is like yeah, Joe’s. Yeah. Okay, whatever. That’s good. It’s true. So yeah, a little bit truth. But a lot of him I will say, tell us about what you do at TurnKey, who you work with and what the what what you guys are all about.
Jeff Lieber 1:53
Yeah, sure. And I wouldn’t want to smoke I listened to one just this morning and you’re a great interviewer and facilitator so you get nuggets out of people, I
Joe Valley 2:01
get imposter syndrome when when people say that to me, I get imposter syndrome. So okay, thank you is what I should have said, All right. Tell us about Yeah.
Jeff Lieber 2:10
Yeah, I’m Jeff Lieber. I’m in San Diego and my company’s turnkeyproductmanagement.com I started actually in 2014 not with TurnKey I started a pet products business launched on Amazon ended up selling that that company a few years later and back and the reason I sold it is because along the way, I started out with some friends companies that were crushing it on Shopify or on Kickstarter, different different websites, ecommerce, but they weren’t doing well on Amazon. So they would ask me for help and tips and I said, Can you just manage manager for us on Amazon? So I would manage their Amazon store and I was surprised they would pay me to do that. And then you know, help them grow to six figures and seven figures and realize like wow, that you know, that’s it’s pretty cool. If I can just only focus on the Amazon piece and master that I don’t have to worry I don’t have to worry about you know, the supply chain part and some of that stuff that I wasn’t in love with. And so that was why I sold my business, my pet products brand and baby brand because I really enjoyed the the Amazon part and health and working with other companies. So then yeah, that was about four years ago that I really focused on TurnKey and building that out and hired some awesome people like my sister and my cousin and their friends. And yeah, and then now we’ve been helping a lot of companies so we do a full service done for you management, where we’ll basically do everything for you on the Amazon channel to free up people’s time. Or we can just manage their Amazon PPC ads and DSP ads and we also have Amazon console as well if they want to
Joe Valley 3:48
get accurate acronyms if you’ve watched enough of the podcast you know I’m going to interrupt and say what is DSP stands for
Jeff Lieber 3:56
demand side platform very good most people don’t get
Joe Valley 3:59
the acronyms they say the acronyms and then flow right into something I’m like, What is it and sometimes I can’t come up with these I’ll be I’ll be searching over here. Your sold an Amazon business which is great fascinating in the pet space, killer space right now. Everybody wants to buy a pet related Amazon business these days they always go for more folks, they go for a higher multiple and this usually I mean year to date, we’ve had like four and a half offers on every listing, which is crazy. But the pet related businesses are much higher Jeff much higher in terms of total number of offers that as a higher multiple as well. For years is not a long time. But then again in this world we live in I guess it is you can learn an awful lot and grow an awful lot in four years and the people that you’ve got, you know giving you two thumbs up. really know what they’re doing in the room large large brands. You mentioned sister cousin, mother, father, sister, aunt, uncle, that type thing sounds like a family business. Are you not outsourcing 90% of your staffing needs to the Philippines like many other folks that a kid knows I mean we another’s.
Jeff Lieber 5:12
Yeah, exactly. So you know, we’ve we fired a lot of started with just you know, friends and family and local people that they knew. And then we’ve had really good luck with with college softball players Believe it or not, because my cousin was and she has a lot of friends and everything that’s been a really successful, I think they just come in, you know, with a team team effort, team attitude and positive and they’re competitive. And so we find a lot of softball players Believe it or not, over the years, so. So yeah, we’ve we’ve grown to over 23 team members, and
Joe Valley 5:48
yeah, but most of those in the States.
Jeff Lieber 5:52
Yeah, most are in the United States, we do have a few people in the Philippines for just some of the tasks that this, you know, is really better suited there, like some data entry and pulling data, like what was our ad spend today for, for all all of our clients, and what was the cost is updating spreadsheets, things like that, where they’re really, really great at that, and it’s just simply a lot more cost effective. So there are certain things that we, that we do in order to say, you know, so that we can offer better prices to our to our clients, you know, if we did every single thing, all in the US, you know, we would have to raise our prices quite a bit, which would be tough for our clients.
Joe Valley 6:28
Well, given the fact that most of your staff is in the US is a distinction as far as I can tell, you know, a lot changes on Amazon, almost every day, but what’s the latest? What’s New for Amazon sellers, and what advice you’re giving them? Yeah,
Jeff Lieber 6:44
a lot of change all the time. So let’s think of the last few months here. Amazon vine, the reviewer program that’s changing currently, it’s free, I don’t know when this episode will, will come out right now it’s September 14 2021. So if you’re listening to him before October, that’s when it’s gonna start being charging you $200 per product to to get those those nice Amazon vine reviews. So, so if you listen to it before, definitely use the free version of Amazon vine, and any products that have less than 30 reviews right now you should enroll them for free, but even at $200, if you’re listening after me, $200 is a steal, too. You know, I think too, you know, if you don’t have 30 reviews on a product, that’s a great way to help get you there, because reviews are very, very hard to come by a lot harder than they were, you know, three, four or five years ago. So that’s that’s one distinction
Joe Valley 7:42
is vine, I always say and I don’t I’m unfamiliar with Amazon vine, is it? Are there any video related things to it? Or is it just usually just explained to the audience how it works and actually paid, but the audience should tell the audience how Amazon vine works?
Jeff Lieber 8:00
Yeah, I mean, they just have a pool of people that love writing reviews on Amazon and Amazon, the company trusts these these people, you know, because they’re part of their, their fine reviewer program. And so some of them might leave video reviews, but that’s not a requirement, most of them will just be leaving your traditional,
Joe Valley 8:20
verified purchases, because that’s what I look at when I’m buying a product on Amazon.
Jeff Lieber 8:25
So all these fine, fine folks are getting the products for free. But people trust trust Amazon vine reviewers, you know, for the most part, so. So yeah, I mean, it’s a net positive,
Joe Valley 8:39
for sure. Gotcha. How big of a challenge Are you seeing with your clients with, you know, when you look out your window in San Diego to all those container ships offshore? How big of a challenge Are you facing there? And what are you able to do to help them in terms of, I would say cash flow, because you can’t just keep spending the same amount of money if you’re gonna run out in inventory.
Jeff Lieber 9:02
Yeah, we’ve had quite a few clients that have had some supply chain issues in the last year. You know, some of them, you know, that are buying from China. You know, yeah, those those shipping container costs are now can be up to 15 $20,000. And so yeah, we’ve unfortunately had a couple clients that just simply had to pause their business, you know, because they were a little bit earlier on and just starting out and didn’t have the sustained cash flow and business model to just be able to hike that up. And if they had to raise their price or double their price on Amazon, they didn’t think that it would do well. So unfortunately, a very small percent of our clients, you know, I’ve had to even pause or really slow down their business or put us on pause until things can normalize
Joe Valley 9:47
well is the normalizing the freight charges coming back down or product actually showing up because a lot of it’s just sitting slightly offshore and is taking longer to get into Amazon’s Are you working with them? To make sure that your advertising doesn’t outpace what they have for inventory? And how do you work with clients in that regard?
Jeff Lieber 10:09
Yeah, no, that’s a big part of it is, is inventory projections and sales projection. So if we know, you know, if they know that they’re so there’s like kind of tuition, either one, they’ve postponed or ordered less product, because they don’t want to pay the huge fees, but they want to keep the business going. Or the other is some I’ve had these, these delays where the simply the product is, you know, months delayed, or, you know, it’s not going to get to Amazon and time. So either way, yeah, we got to look in real time. That’s why we meet with our clients and and talking to them all the time, you know, each month and so, yeah, it depends on the situation. But if they’re, they know that they’re now three months away from having inventory, and they’ve only got 500 units left per product, then, then yeah, we’ll scale back advertising budget, sometimes even taking ads all the way to zero, because they may be able to sell all that product with no ad spend, you know, sales will go down, but if they got nothing to sell, you know, there’s some it’s just whatever’s best for the business to help them out. In, you know, some challenging times for especially in some niches?
Joe Valley 11:14
Yeah, I would think so. I would think so. You know, when we’re talking Actually, I was on a podcast yesterday, and we talked about, you know, a client that bought an Amazon business about 24 months ago, I want to say, and grow it simply by not running out of inventory and novel concept, but she just bought a whole lot more salesmen, you know, the the momentum was there. And with the pandemic sales actually went through the roof, because it was more of a home products. Gaming business, but she didn’t run out of inventory. And the person was like, yeah, novel concept, don’t run out of inventory. But it’s, it’s hard when you’re dealing with so many moving pieces and lots of advertising and container ships being stuck offshore. What what are, what are some of the other, I don’t know, biggest mistakes that people are making on Amazon, whether it’s using an agency like yourself, or just doing it on their own?
Jeff Lieber 12:11
Yeah, biggest mistakes. I would say, for a lot of clients that come to us, they maybe only have one product or two products, right. And they’re great products. But one, one quick way to grow is to launch either different variations of the product, or launch complimentary products, you know, under that same brand, that serve the same customer, which will obviously increase your lifetime value to the customer. And other is trying to find a product that you can serve your customer. That’s a repeat purchase product, I’m sure you can attest to that. A lot of brands that have repeat purchase, you know, a component of their business probably has a higher multiple wouldn’t you say?
Joe Valley 12:51
Absolutely. Yeah, yeah. Buyers love that because it’s money coming in every month as opposed to a new customer they have to acquire every month. And and the, you know, the hero skew businesses where they just got one skew. You know, I had an interesting discussion with someone a few years ago, he had a business in the in the pet space, it was a supplement for dogs, and it was one skill. And he was making, you know, about $800,000 a year in discretionary earnings profit. He was only working about four hours a week. He was spending a lot of money on Facebook, sending it to Amazon and all sorts of, you know, tricky, slippery things. But he had one product, one skew, and one ad that really worked. And I kept telling him, you’re on a knife’s edge here, this is, you know, one slip and, and and you’re going to fall and you’re gonna fall far. He’s like, Nah, man, it’s such an easy and he was, he was such a hippie. He was cool, but hippie nonetheless. He never he never every time I had a call with him, Jeff, he had his shirt off. And it was very interesting. Anyway,
Jeff Lieber 14:04
can you turn your video off?
Joe Valley 14:06
Every every time we chatted, look, it’s it’s it’s too much of a risk for buyers. It’s gonna it’s gonna demand a lower multiple. And he said, No, no, no, no the advantage to this business because it’s easy to operate. And lo and behold, Facebook disallowed the one ad that was working and that affected the Amazon sales. And within probably for months, his business went from being worth one and a half to $1.8 million. Low multiple for something was just 700 discretionary earnings 10 maybe, maybe at a stretch being worth a million bucks. And even then that was iffy, he ended up not listening the business tried to do it on his own try to do it someone else it never sold. He’s still struggling to hopefully he’s added some more skews, but I think that’s a great thing to focus As you know, the biggest mistake that people make is is is is a hero skew or a one hit wonder, how do you as a as a, as an agency in your position, guide them and help them? You know, create upsells and whatnot from, you know, a single skew that’s doing well. Yeah, sure, we
Jeff Lieber 15:18
had a client in the like, gym workout space, but like, you know, typically physical gym, gym space is where a lot of their products were used. And they’re crushing it, you know, before COVID, if you know doing when we signed up with them three years ago, they’re like 200k a month in sales, we help them get to over 325k in sales, and then COVID, hit gyms closed, obviously. And sales just paint and dropped down to about like 151 50k for the next couple months. But in that very first month, like we could see, even though no one exactly knew what was gonna happen, and how, how long lasting, the COVID effects would be at that time. But we just simply got on calls with pretty much almost all of our clients who are like, hey, like, let’s think about what’s what are the risks? What’s happening, like, what can we do going forward? And for them, it was, it was pretty obvious, like, you know, we can’t create new sexy ads for these products, like these products are not as relevant at least for the next couple months, and then maybe the next 12 months. So we said, you know, hey, what if we come up with a list of products for you, and we’ll we’ll you know, something that could fit into your brand. So came up with a whole homework outline, everything from resistance bands, to no just any, all these cool products that you could do from home, but it still fit under their brand, because they were a fitness brand. So we didn’t have to do a whole lot of rebranding or anything. And and luckily, they were able to, you know, get get those new products branded, made and launched within about 60 days, wow. And we helped get them back to over 250k and then over 275k. So that’s, that’s one thing we do is we actually help them come up with that list. And then the other thing that we did is we actually help them expand internationally, as well to other Amazon international platforms, where it’s like, what else can we do, you know, to grow sales. And so we launched them in a few countries they weren’t in.
Joe Valley 17:15
Now, did that particular client just go to their existing manufacturer to get the additional product lines? Or did you help them find and source the product as well?
Jeff Lieber 17:24
Luckily, there are suppliers that they already had had the capabilities to make a lot of these products, I think for one or two, they had to go find a new supplier. But But yeah, but just shows like in business, it’s like your guy, the your shirtless guy he talked about, like, if you anticipate risks and changes coming. And, you know, even if you have to, even if you waited a little too long, like Oh crap, like I’m gonna have a really crappy two or three months, but how quickly can you adapt? Right? And, and find a way and you know, they move fast. We helped as much as we could out move fast. And you know, that’s the name of the game in business. It’s always changing and you got to do whatever it takes to, you know, try to save and protect your business at all times.
Joe Valley 18:10
I agree. One of the folks have had on the podcast, a guy named Zack he runs a company called gamba and this for the audience, GEMBAH.com Gembah, they help with sourcing with product expansion, product, manufacturing, finding new manufacturers and reducing cogs, they work with a lot of the aggregators that will say, Okay, here’s, you know, five new brands that we just bought, see if you can reduce cost of goods, sales of goods sold by, you know, 10 or 15 20%. I think he said the average reduction in cogs is 20%, when he seeks out new manufacturers, which is pretty damn impressive and really goes to the bottom line. You mentioned, you mentioned ads in there a little bit in terms of creating new ads for these folks. What’s, you know, I’ve tried to ads on different things for for for the book. What’s happening with ads, anything new? Yeah, on the ads
Jeff Lieber 19:05
front, I mean, it’s ever, ever changed. And they’re still I think, like, kind of a couple years behind Google, but they’re really starting to catch up. And you’re not the same old types ads that they used to only have an offer on Amazon. So yeah, like and anytime a new type of ad comes out, it’s it’s good to try to jump on that and test it before everyone jumps in. And all the competition and cost per per ad increases. So yeah, right now we’re seeing a lot of video ads are increasing. Like even if you think as you’re shopping on Amazon, you’re starting to see more and more video showing up on the on the search results and you know, in a 32nd video can just communicate so much more, it’d be so much more effective I in my opinion, than then a stagnant image ad with just one photo of your product and the title of it and the price right. I totally
Joe Valley 19:57
agree on that. And before we move on to the next point When it comes to video ads, are your clients doing so? Well they hire a video production company, or are they holding up their iPhone and shooting a quick video? It’s real entrepreneurial home grown stuff, what? What are you seeing them do? And what do you think works better? And I’m sure the answer is it depends on the niche and product.
Jeff Lieber 20:21
Yeah, it’s a what you just said, but it does depend because I mean, some of our clients are doing, you know, 300k a month. So they’ve obviously got different budget for investing in video production. And they often do you know, those clients, once they get there or on the way up, they do, you know, invest in those higher, higher quality shoots. But you don’t have to do that, in order to be successful. I mean, we have a designer in house that does video edits, and in our graphic design, and they could take even even if the client only has stagnant images, and they don’t actually have any raw video, we can turn those images into, you know, a video where it’s painting in on the image or panning across and put text overlay and things like that. So even that, I mean, there’s even free video editing software’s out there that can make exactly what I just said. So that’s a great place to start out what I would say is now any video is better than no video at all. Like just start with what you can and then once you start getting some traction and be ik You know, it might be worth investing in. And I think one of the things that sometimes you will fail to do is think long term of the investment the ROI of a video so you know, one, we had one one product there was a dog toy dog toy launcher called the hurricane nine. And it was so cool on video, you know, shot 100 foot ring launcher for dogs. And we just did one video shoot for that brand. And it cost me a couple $1,000 but that one video shoot gave us enough footage with enough dogs and cool clips. That that sir, for the next two years, we’re gonna do another shoot for the next two years, we that we turned that into Amazon product video for the product display page on Amazon. We turned it into a video on Facebook ads, we did it for social media content on the website. So one video recording that can take four hours or two hours to do, you know, ended up helping be the main driver in my opinion, because that was our highest content quality content that we had. I mean that that drove over a million dollars in sales over the next you know, couple of years. And you know, so So think about that investment, like would you pay 1000 or 2000 to get 100,000 in sales over the next year, like all day long.
Joe Valley 22:46
Yes, getting to that point we’ve got that great video can be hard people don’t know where to start. One of the folks that have chatted with a lot is Justin Kelsey from Vaxa Digital actually met him through the trends group, which is sandpark Groupon, the hustle of Vaxa VAXA digital they’re down in Charlotte, actually a good good folks. Can you can you give us any examples like people that are listening now, Jeff, that started with you at a certain level. And you’ve mentioned a few where they were doing 200,000 you could have 325,000. And on your website, you talk about eight figure sellers. Give us any examples of case studies of folks that you’ve worked with and what they were doing where they were at and and where they are now. Yeah, sure. We
Jeff Lieber 23:37
had a recent one that launched with us in May. They were in the in the pet space. I I want
Joe Valley 23:45
everybody in the pets base gravitate to you because you’re you were in the pet space before. Is this just something I’m
Jeff Lieber 23:51
there? I thought about that? I mean, maybe only 10 10% of
Joe Valley 23:56
players and pet products.
Jeff Lieber 23:59
That’s great. That’s all I do. Yeah. All right. No, we have all over the board. Top supplements. I mean, it’s all over the board. But But yeah, but but we just happened the most recent one that like really was a slam dunk case was they launched with us in May, they contacted us in I think February or March. They were already up and selling like on Shopify, and we’re doing well. And then they had an array of products and already had a good ecommerce business base, but they just had never wanted to put in the time for Amazon or even tested it. And, you know, they came to us and we looked and said I think this could do really well. And so but what I think really helped them in what we recommend in an ideal world if you’re going to launch a product or whole brand or product, whatever it is, even if it’s a brand new product, try to really give yourself 30 to 60 days to plan out an effective launch plan and execute that launch plan so you’re not just throwing it up once inventory gets here. hope that it does, okay. And so they hired us. And we had about a month or a month and a half to work with them before launch to like, build up the page, get the page fully optimized, you know, get those video videos on the page infographics. And then they had some assets, some audience assets, so they already pre like an email list and small social following. And so we organized and planned all that out, how can we utilize these assets to have an effective launch? And in the very first month of selling, which was in May 2021, we did over $100,000 of sales. And now it’s September and we’re on pace for 160k. ism online, let
Joe Valley 25:42
me ask you 100,000 in sales, because this is what’s going through the audience’s mind. Okay, but how much did you have to spend to generate $100,000? in sales? Any idea?
Jeff Lieber 25:53
I don’t have the exact number, but it was not a ton. Because like I said, a lot of us. No, no, no, it was under $15,000. For sure. Wow. Amazing. That’s an Oh, yeah, for sure. What? Well, they also had some some organic assets that that didn’t cost money, you know, to just send an email or what have you.
Joe Valley 26:13
were they doing more than $100,000 a month off Amazon before they decided to hire you and try out Amazon? Which, why didn’t they know the exact number?
Jeff Lieber 26:23
Right? I don’t know the exact number. I think they were doing around 100,000 on Shopify. At that time, and, yeah,
Joe Valley 26:32
so you helped double their business? And then some because you’ve gone to 165 from 100 to 165.
Jeff Lieber 26:39
Yeah, yeah. 160
Joe Valley 26:40
Yeah, any recurring nature to their product line.
Jeff Lieber 26:45
Not a ton, actually, that they sell different varieties, you know, so you know, people will eventually want to try a different different one or color, but they don’t have to. So it is interesting that it is awesome, unique products that that are really, really cool. But they’re not like you know, supplements or repeat purchase,
Joe Valley 27:03
when it comes to the supplements and repeat purchase. I understand that Amazon Subscribe and Save program is providing better reporting these days. Can you tell us about how it was once and how it is now and any tricks to figuring out what your you know, monthly recurring revenue is and what the projections are and things of that nature.
Jeff Lieber 27:25
Yeah, Amazon Subscribe and Save program has has come a long way is very much improved. And so yeah, it doesn’t, it doesn’t qualify for all categories. So step one is, is check if you’re already enrolled, sometimes you’re automatically enrolled in it, too is if you don’t have it, you know, check or contact Amazon to see if you can get it. And then three, once you do have it, this is what a lot of people miss is it’s just, you know, whatever the standard is, you know, 5% off of, you know, any subscription order, whatever that standard is, you can actually change that and get more aggressive if you want. So you can you can offer like 20% 30% off your first order, you can do these different things that really make you stand out from your from your competition. So a lot of people don’t know that, that you can play with the percentage tiers. So that’s like, one on setting it up. But then on Amazon DSP, advertising platform, which for those that don’t know, it’s a, it’s a different Amazon still owns it, it’s Amazon’s ad platform, but it’s different than amazon seller central. There’s some really cool types of ads that you can do to really target and try to, you know, sell, Subscribe and Save and mentioned that in the ads and, and see really cool reporting numbers. Almost all our clients are on Amazon, DSP, advertising and seeing, you know, great results, you know, most of the time sometimes doesn’t work for every single niche. But you know, we find out within a month or two and they continue or don’t continue from there. But But yeah, anything you can do to to get Subscribe and Save and get that recurring revenue is really, really powerful.
Joe Valley 29:03
I would think it’d be easy enough just to if you’re spending 15% on advertising, typically that you can just easy math is you don’t have to pay any ad advertising dollars anymore. 15% discount off a recurring revenue. But it all depends on the product cost of goods sold, and Amazon’s still going to take their piece. The last time I listed a business with a high percentage of recurring revenue, we were having trouble running reports that would show the exact amount of recurring revenue every month, it didn’t seem to be exact. And granted, I’m not listing businesses anymore. It’s been about six months, it’s actually listed on the team is doing that now. But has that improved over the last, let’s say six to 12 months with the ability to run proper reports and and see what the recurring revenue actually looks like. Is that better than it was six to 12 months ago.
Jeff Lieber 29:56
It has improved I don’t know necessarily the last six months but there are software’s out there, like third party software’s that, that can pull that data for you in a nicer format, I would advise your clients to check that out, you know, like the managebystats, the, you know, those those companies that basically, you know, aggregate your data and put them in nice charts and things that there’s, there’s good Subscribe and Save data there, you know, in good detail.
Joe Valley 30:24
Excellent, excellent. Just to spend great there anything else that you want to advise the people in the audience, whether they’re, you know, hoping to buy an Amazon business, or currently running one?
Jeff Lieber 30:35
Um, yeah, I mean, you know, Amazon is obviously an amazing place to be, I think, you know, it takes a lot of effort and time to get it right. It’s more competitive than it’s ever been, you know, if you can, if you look three, four or five, you know, I started back in 2014. So it’s changed a lot over the years. And but yeah, if you do it the right way, you know, I think it should be one of your primary sales channels, I don’t think it should be your only sales channel, I think you should have a Shopify or an e commerce. And if you can get on Walmart, or, or others as well, I think that increases the value of your business and helps you sleep better at night. But I still believe that Amazon is the biggest opportunity for in the best channel to get dialed in. And, yeah, then if you want to, you know, do it the right way, you can either hire a great team, if you’re great at hiring and managing people, then by all means, do that, that will probably be the cheapest, cheapest way. But But yeah, but getting the right people in place to, to, you know, optimize everything you do on Amazon and not be wasting your your money that you’re spending on those ads, which is, you know, one of the most profitable ways to grow your business is by managing your ads properly on Amazon. You know, it’s it’s one of the best opportunities that I’ve seen in my lifetime.
Joe Valley 31:53
Excellent. I don’t disagree. I’ve seen people do it on their own struggle, and they can’t, you know, focus on other important aspects of the business and operating the business. Instead, they’re in the grind, managing people managing Amazon ads and everything else. And then when you find the right agency, there’s a lot that are not the right agencies. And that’s why I asked about the, you know, the, the folks, the softball players, right, you got a team oriented mentality with a bunch of us. employees, it makes a big difference when you find the right agency. It sounds like from everything you’ve said, from my research, and from the folks that are backing Yeah, I think it’s a good opportunity for somebody to be able to talk to somebody in the States. And I know that we talked about some resources that you offer on your site and online going to link those Can you tell us what those resources are that we’re going to share in the show notes of the podcast? Yeah, sure,
Jeff Lieber 32:45
we’ve got a ton of great resources that basically are designed that you can plug and play him into your team into your business and help you help you grow your business on Amazon. So one of the most popular ones is why actually grain your your listing, if you send us a link to your product listing will will literally grade it for you and tell you if you’re doing a great job or not, and give you some recommendations on what you can do to boost your conversion rate. Sometimes those tweaks only take a couple minutes to implement, it just helps to have that outside set of eyes. But yeah, there’s a lot of good resources on there. There’s also a chance that you could just book a call with us if you’re really you know, interested in learning about like, Is it a right fit? I’m not sure if I’m ready for an agency, if it makes sense. How would it work? What’s pricing? What would you do for me? You know, we are happy to hop on hop on calls with, with with possible clients like that. And yeah, that’s there as well. So turnkeyproductmanagement.com/resource, and it’s all there.
Joe Valley 33:46
Excellent. Excellent. Well, folks, that’s Jeff Lieber, from TurnKey Product Management. And if having him on the podcast and everything we said here is not enough then if you’re a fan of Ryan Daniel Moran or Ezra Firestone, both of them are endorsing his business and in some cases using his agency as well. So thanks for your time. Jeff, I appreciate you coming on. I look forward to chat with you soon.
Jeff Lieber 34:12
Thanks, Joe, hanging out.
today’s podcast was produced by Rise25 and the Quiet Light content team. If you have a suggestion for a future podcast subject or guest, email us at [email protected] Be sure to follow us on YouTube, Facebook, LinkedIn, Twitter and Instagram and subscribe to the show wherever you get your podcasts. Thanks for listening. We’ll see you next week.