I launched my first product in November 11 and I have:
10% discount coupon
Offered 30 units on Vine (Only 4 redeemed so far)
5 Reviews and total 7 rating with 4.7 stars
1 auto campaign $15 daily budget which has provided 15 sales so far.
Activated other campaigns (exact and Asin) but got a bit scared because of how much they were spending with almost 0 conversion. Now they are deactivated
35 units sold so far. At a rate of 1-4 everyday
Althought it is not a terrible start, it is not good. I want/need to increase sales velocity without bleeding too much. I understand at this stage profit is not the objective.
I appreciate any guidance.
You are doing good.
Both online marketplaces are throttling sales so what ever you do regardless of how much you spend you will not get ahead.
The only hope you have for increasing sales is to exist outside of amazon where you cannot be manipulated. As long as you are dependent on the major online marketplaces the velocity will never get to the point of being viable.
I understand. This will come with time. But shouldn’t I focus on making sure my first product is selling well before moving to launching elsewhere? Due to budget and cash flow reasons. I wish money was infinite
Those a pretty good stats, the only thing is just diversifying your portfolio so you are not just relying on just one products sales.
Optimize your ad campaigns by refining keywords and targeting, consider increasing daily budget gradually, and leverage social media for promotion to broaden your product’s visibility and drive more sales.
That is the problem. Very new and good products are being penalized, it appears ebay might be using AI that originated from amazon. They train the model based upon what is existing, new products don’t exist so AI does not know how to deal with it. Before they started using AI to limit sales of individual accounts you could launch a new product and “test the waters”. Nowdays, not much luck.