The YouTube player loads only after you click. Alternative: open the original directly on YouTube.
Key takeaways
- Uh because that sounds very Amazy, which is like they pretty much know exactly how much you make and then they just charge you the amount that your profit would be, so you just pay them more.
- It's like, I don't know how, right?
- So, I would try and figure out how they're spending $250,000 a month.
- Do they have a backend that when customers buy the first thing, they buy other things?
Chapters
Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00$ 34,000 a month, around $3,500 in ad spend, 20% net. Dental products, number three on Amazon. When scaling spend, it destroys margins with little gain. Number one, competitors, 250,000 a month. Any advice? I'm guessing you're running your ad spend on Amazon. Um, that's my guess. Uh because that sounds very Amazy, which is like they pretty much know exactly how much you make and then they just charge you the amount that your profit would be, so you just pay them more. Uh just saying um okay, so I mean to scale you're going to probably I mean you want to max out your existing channel, but if you have no other way of making your product more valuable um there then I'd probably look start looking at new channels. Like Amazon is just a channel, you know? I mean like there's really nothing. It's just a channel. It's like can you get micro influencers to do it? Can you get other dentists to do it? Can you do B2B on wholesaling? Like, there's so many different angles that you could take um to advertise a product.
1:06I mean, they're spending $250,000 a month. It's like, I don't know how, right? So, I would try and figure out how they're spending $250,000 a month. Do they have better reviews than you? And that's what allows their page to convert better. Do they have a backend that when customers buy the first thing, they buy other things? Um, like I I just don't know. And maybe 250,000 they're probably not spending 250 a month. They're probably making 250 a month. Um, and it might just be that they have a better product, being real. And so Amazon is very like winner take all market for the best products. And so like I don't know what the number 10 business book does, but like the number one business book makes a hell of a lot of money. And so if the number one business, like imagine that, let me give a different example. So, like let's say that number 10 business book wrote this question was like, "Hey, I'm doing $5,000 a month for my book."
1:49The number one person is doing $250,000 a month. How do I get it bigger? It's like realistically it's like you got to have a better book. Like that's the real like you have a better you got to have a better book. Um, now of course you can market in more ways, but if you're like, "How do I get better? How do I get bigger on Amazon?" It's going to be down the product. I mean, they've they built their whole their whole site to maximize quality of product relative to price, of course.